Credit Unions

All you need to know about standardization, automation, and digitization for credit unions!

A credit union is not a bank. It has its own unique challenges and opportunities. The Lab knows: We count many of the country’s leading credit unions, of all sizes, among our valued clientele.

As North America’s undisputed authority for transformation-enabling standardization, robotic process automation, and advanced analytics, we help credit unions to boost member experience, while containing costs, uncovering newfound efficiencies, and maximizing workforce capacity—an essential element during challenging staffing times.

We welcome you to avail yourself to our thought-leading credit union materials below, including articles, case studies, and videos.

Processing quality-control (QC) reviews of consumer loans is one of the most tedious activities in your credit union—not good when you’re at risk of employee turnover. So turn that chore over to RPA bots from The Lab. See how easy it is—complete with a little two-minute video—in this must-read new article!

Most workers in the business world believe that reconciliations are a routine task that only accountants deal with as part of their jobs. However, in the banking industry, whether a mega-bank with $750B in assets, a super-regional...

The honeymoon was over for this credit union's recently-hired CEO. After a few months of encouragement, the board and the investment community wanted results within the next quarter. Yet the CEO and his personally selected CFO faced a raft of challenges: Excess liquidity, revenue growth, and acquisitions. The Lab implemented scores of standardization-based business improvements, analytics dashboards, and “intelligent” RPA bots.

Free your staff from the error-prone drudgery of monitoring data, risk alerts, and more. Two acts of Congress provided lots of safeguards for consumers… while adding a ton of regulatory pressure on credit unions and their...

Imagine all new hires onboarded, automatically, with a single click! If you’re a credit union’s information-technology (IT) or information-security (IS) person, there’s one routine chore that we guarantee you dread: The...

Core platforms holding you back? Then you need to read this: We’ve outlined a time-tested strategy to reduce your reliance on core technology providers—and unlock massive gains in: Operating leverage Employee productivity  ...

Credit unions have been chipping away at digital transformation for some time, but during the COVID-19 pandemic, member demands for a fully digital banking experience, and competition from non-banks, have thrown transformation...

Updating loan interest rates based on published indexes is a time-consuming, error-prone chore that your credit union staffers hate doing. Keep them from heading for the exits by automating this task with RPA bots from The Lab, North America’s undisputed leader for credit union automation! See how easy it is in this exciting new quick-read article!

Key performance indicators (KPIs) are essential for monitoring, managing, and profitably growing your credit union. Depending on what you want to accomplish, some KPIs can be transformational. With the right data and supporting automation, these “Super KPIs” give you the power to predict, preempt, and prescribe like never before. There’s more detail about “Super KPIs” right in the intro to this catalog. I think you’ll find it interesting and valuable.

Slogging through input quality-control for commercial and consumer loans. Manually updating loan interest rates in the core. Suffering through the minutiae of HMDA compliance. Your credit union’s loan operations and servicing teams dread this work. And members don’t understand why loan turnaround times are so long. It’s jeopardizing your compliance—and the ability to process your credit union’s essential lifeline of loans on time. Address all these issues, at once, in just a few months.

For nearly 30 years, The Lab has helped credit unions—from global to regional to local—standardize their knowledge-work operations, wringing out new efficiencies, uncovering newfound capacity, and discovering opportunities to effectively apply the latest digital automation technologies. We’ve even standardized the process of standardization. We boast the world’s largest repository of credit union KPI definitions, benchmarks, best practices, pre-built dashboards, process map templates, and automation use cases. So we can, and do, make it happen fast.

Your “factories” already exist. They’re simply under-standardized. We’d like to take you on a brief “tour” of the typical credit union “factories.” See if you recognize yours! https://www.youtube.com/watch?v=UT-5u0scffQ   The...

The Knowledge Work Factory® Strategy A strategy to “industrialize” critical loan fulfillment activities—all using your existing technology. Close more loans Preserve margin Enhance member experience (MX) Increase...

Harness the market disrupting power of credit union sales bots. They do all the drudge work. Quickly. Flawlessly. Happily. Increase sales uptime. Improve member experience. Turbocharge revenue growth. Depositor and loan databases....

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