If you are a bank or credit union operating in today’s market, providing an excellent digital experience for your customers and members is likely a top priority.
For this blog, we set out to find some of the most innovative credit union and banking software on the market today and noticed a recurring theme: Most of the technologies on our list had a similar goal — to help financial institutions improve the consumer’s digital experience. So, while each banking software vendor on our list below provides a unique offering, they all contribute to the common goal and number one strategy of banks and credit unions today: Create the best customer or member experience possible across all digital channels.
Mambu is a SaaS banking platform for digital banking and lending that bills itself as an alternative to traditional core banking systems or custom in-house solutions. Mambu has been named to the FinTech50 for three years in a row. Today they operate on six continents and have more than 150 customers including top tier banks like Santander and major FinTechs.
Symitar is a division of Jack Henry & Associates, one of the largest core data processors and one of the three primary players in the financial space. Symitar focuses on credit unions, offering core data processing through one of its two platforms, the Episys (an IBM system) or CruiseNet (a Windows system).
Malauzai offers mobile and online banking solutions for community banks and credit unions. Their solutions utilize the SAMI (SmartApp Management Infrastructure) platform which allows for real-time updates and REBA (Real-time End-user Behavior Analytics) to provide customer insight and improve decision making.
4. CU Direct
With the largest credit union auto lending network in the nation, CU Direct has a history of success. And the good news for credit unions is that they do more than just auto loans. CU Direct’s Lending 360 platform offers a loan origination and new account opening system all in one. When Visions Federal Credit Union implemented Lending 360 they saw a $30 million spike in loan growth during the first three months compared to the same three months in the previous year. CU Direct takes full advantage of its cloud-based functionality by undergoing constant iterations and pushing out regular updates to ensure continual platform improvement. Built based on the Microsoft architecture, Lending 360 is also extremely intuitive, helping credit unions get employees up and running fast. Overall, CU Direct can help credit unions reduce paper usage, improve cross efficiencies, increase loan decision speed and unify the member experience across channels.
If your credit union uses Symitar as its core and you’re looking for innovative mobile banking software, Access Softek should be at the top of your list. They are regularly and proactively rolling out new features to the market as they continue to “help clients stay ahead of the technological curve” through technologies such as biometric authentication. It should be noted that although they seamlessly integrate with Symitar, Access Softek can work with any financial institution. If you’re looking for a forward-thinking mobile banking vendor that has innovation and security top of mind, Access Softek is one to consider.
Engageware (formerly TimeTrade SilverCloud), provides industry-leading technology and expert know-how to help organizations better engage their customers. Trusted by more than 500 organizations, our self-service, appointment scheduling, and knowledge management solutions – combined and integrated with those of our market-leading partners – make it easy for customers to answer their questions quickly, connect to the right resources when scheduled expertise is needed, and get a consistent, efficient experience when help from a representative is required. Organizations that use our customer engagement solutions deliver quality customer experiences no matter the channel — enabling faster growth with greater efficiency.
Utilizing artificial intelligence and machine learning, Micronotes offers financial institutions a very targeted, non-intrusive approach to digital marketing. By leveraging fast automated interviews, Micronotes helps financial institutions engage with customers and prospects, naturally, through their digital channels.
Need to translate your website or content into multiple languages? TransPerfect is one the largest translation companies in the world and offers translation services that even the most highly regulated businesses, such as banks and credit unions, can trust.
9. Q2 Gro
Need a solution that will speed up the new account opening process? With Gro customers can open a new account via any of your financial institution’s digital channels in less than four minutes. Gro offers a mobile responsive account opening solution with the ability to quickly scan any required documentation, such as a driver’s license. Gro can help you show customers and members how easy it is to do business with your bank or credit union.
MX is a digital account aggregation platform that offers a beautiful and clean UX with strong data analytics capabilities. MX is constantly releasing new iterations (roughly every 6 weeks) and is an emerging leader in the marketplace when it comes to helping financial institutions enhance the user experience and drive loyalty.
Technology is changing banking. In fact, it’s changing just about every industry today. Banks and credit unions that embrace the new digital revolution will be able to evolve with changing customer expectations and successfully meet new market demands. If you would like to learn more about how your bank or credit union can leverage the latest financial services technologies to improve the customer or member experience and take the next step in your digital journey explore Engageware.
Related Resources You Might Like:
- 14 of the Most Popular Mobile Banking Vendors
- Choosing and Implementing Core Banking Software
- Choosing the Right Knowledge Base for Your Bank or Credit Union
- 10 Things You Need to Know Before Implementing a Banking Chatbot
- 4 Things to Consider When Searching for an Employee Intranet
- The Definitive List of the Best Bank Website Designs
- 8 Unique Bank and Credit Union Marketing Ideas