Credit union leveraging digital engagement platform to facilitate personalized, intuitive member account opening experiences
FARMINGTON HILLS, Mich., December 09, 2021--(BUSINESS WIRE)--Member Driven Technologies (MDT), a CUSO that hosts the Episys® core processing system from Symitar® to provide a private cloud alternative for core processing and IT needs, announced today that $942 million-asset LAFCU has successfully launched Digital Onboarding’s engagement platform through its partnership with MDT.
Digital Onboarding helps credit union members activate, adopt and effectively leverage the financial services that are available to them. By leveraging the Digital Onboarding platform, Lansing, Mich.-based LAFCU is able to more effectively digitally engage both new and existing members. LAFCU can now automatically send emails and text messages to connect members with personalized microsites, making it easier and quicker for them to adopt account-related services that drive cost savings, satisfaction and engagement such as digital banking, direct deposits, eStatements and more.
"LAFCU is dedicated to helping the unbanked and underserved obtain personal financial security, which is why it’s so critical that we make it simple for all members to access our digital services," said Kelli Ellsworth-Etchison, Chief Marketing Officer at LAFCU. "Providing a convenient, personalized onboarding experience will allow us to establish strong relationships from the beginning with new members, while deepening loyalty with existing ones. By leveraging the Digital Onboarding engagement platform through our trusted partner MDT, we are enhancing accessibility and modernizing member journeys."
Digital Onboarding’s platform enables LAFCU to seamlessly create and measure the effectiveness of digital member journeys without heavy lifting from the credit union. Through automating and digitizing the new membership and complementary service setup process, LAFCU is empowering members with robust self-service tools while boosting process efficiencies.
"Institutions can deliver the best digital account opening and digital banking experience in the world, but they will suffer from high attrition rates if it is difficult to get members from one point to another," said Ted Brown, co-founder and CEO, Digital Onboarding, Inc. "The Digital Onboarding platform was built to help new account openers navigate the complex process of activating a new account after it’s opened. I am excited to partner with industry leaders like LAFCU and MDT to address this critical gap in the industry."
"LAFCU is a long-time client with a proven track record of strategically investing in the tools and technology that will allow them to deliver exceptional member service," said Larry Nichols, CEO and president of MDT. "By using Digital Onboarding’s platform, LAFCU and other credit union partners are providing members with easier, more efficient access to necessary products and services from the onset of the relationship. Creating these personalized digital experiences will be a strong differentiator as the competitive landscape becomes even more crowded."
About Member Driven Technologies
Member Driven Technologies (MDT) provides a private cloud alternative for core processing and IT needs. The CUSO hosts the Episys® core platform from Symitar®, as well as dozens of seamlessly integrated solutions and supporting services to help run the entire institution, such as digital banking, payments, lending, cybersecurity and imaging. Rounding out its comprehensive suite, MDT also offers business continuity, disaster recovery and regulatory solutions as well as consulting, data analytics, email hosting and hardware purchasing services. By partnering with MDT, credit unions across the country are boosting efficiencies, enhancing security and reducing costs while maintaining a high level of control. Visit mdtmi.com or follow @memberdriven for more information.
Chartered in 1936, LAFCU is a not-for-profit financial cooperative open for membership to anyone who lives, works, worships or attends school in Michigan and to businesses and other entities located in Michigan. The credit union serves more than 68,000 members and holds over $942 million in assets. It was named a Best Credit Union to Work For in 2020. LAFCU offers a comprehensive range of financial products and services as well as an expanding complement of financial technology solutions. Members enjoy benefits such as low fees, low interest rates on loans, high yields on savings, discounts, knowledgeable employees and nationwide access to fee-free ATMs. A recipient of the national Dora Maxwell Social Responsibility Community Service Award for credit unions, LAFCU enriches the communities it serves by supporting many organizations and causes. To learn more about LAFCU, visit https://www.lafcu.com.
About Digital Onboarding, Inc.
Digital Onboarding Inc. is a SaaS technology company focused on helping banking and credit union customers activate their financial services products. Digital Onboarding provides a fully automated new account activation platform that is more efficient and effective than traditional phone calls, emails, direct mail, and print brochures, driving profit by increasing new customer and member activation rates. For additional information, visit https://www.digitalonboarding.com/.
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