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.

At your credit union, processing check deposits that may need extended holds or denials due to concerns flagged by anti-fraud software, requires a ton of work from your beleaguered Deposit Ops staff. But now, you can get more done, faster, while hedging against employee turnover, using RPA bots from The Lab! Check out this fascinating new article—which even includes a neat two minute video—and get the facts you crave!

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.

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...

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  ...

Processing flood-data reconciliation and exception reporting for real-estate loans is a nightmare chore for your credit union’s Business Analysts. Fortunately, “there’s a bot for that,” regardless of the systems your credit union uses to perform this chore! From your loan-origination system to your insurance-carrier’s site, to your flood-compliance platform and more, RPA bots from The Lab can save you time—and turnover. Be sure to read this exciting new article—complete with three-minute video—to see how your credit union can eliminate this “flood” of avoidable labor!

The U.S. Bank Secrecy Act, enacted by Congress in 1970, and updated as part of the Patriot Act in the wake of 9/11, requires that your credit union report suspicious activity to the U.S. Treasury’s Financial Crimes Enforcement Network, or FinCEN. Specifically, your credit union must file a Currency Transaction Report or CTR any time a single member deposits $10,000 or more in cash on any single day. In this article, we’d like to walk you through the steps that an actual credit union bot takes as it handles this required activity. It’s based on a bot we installed at a prominent credit union recently; we’ve even made a fascinating two-minute video of it. You can see it inside this post.

Knowledge Work Standardization® Services from The Lab. The Lab’s patented methods help simplify, standardize, and automate everything: Products & services to increase consistency at the regional, national, and global level. Business processes create employee-friendly operations that retain crucial talent. KPIs & data identify the “Super KPIs” that grow your business. Digital automation find many more valuable use-cases quickly.

Setting up accounts for remote mobile-deposit capture takes your credit union’s staffers a lot of time that they could be spending more valuably. Now you can automate this process! Read how easy it is in this exciting new article from The Lab!

Fintech platforms can send a lot of new-account applications to your credit union, but when it comes to processing all the rejections, you’re on your own. Fortunately, now you can automate the creation of customized “adverse-action letters,” papering your audit trail while freeing your team from servicing dead-on-arrival applications! See how it’s done in this fascinating new article, complete with cool two-minute video, from The Lab, North America’s credit union-automation authority!

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...

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!  1....