Credit Union

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

Have a look at these interesting blog posts, all collected in one spot for your convenience. This industry specific information can be found nowhere else because we’re credit union experts! Find out how to strategically lower costs, increase operating leverage, improve member experience, and automate what previously wasn’t automatable in your credit union. The Lab is your strategic implementation partner for your endeavor to automate and digitize your operations. Find out how we can do this in weeks rather than months, because The Lab is North America's leading standardization, RPA, and predictive analytics implementation firm!

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...

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...

Given the latest trends—and the seismic shifts—in the credit-union industry, there’s never been a better time for leaders to take a good hard look at the three “big rocks” of transformation, digitization, and cost-cutting: Transformation Big Rock 1: Transform the Credit Union retail branch network. How can you use data to drive decisions? How can you stop over-serving locations...

One important takeaway from the book The Knowledge Work Factory is that standardization is at the root of all business improvement. Working alongside standardization on the production floor has been robotics and now in the form of...

Our previous blog article looked at the challenges of implementing business intelligence, or BI, in insurance, and its impact on claims processing. In this article, we’re going to focus our lens on business intelligence in banking. What...

Our last article concerned a case study about the HR department of a big bank and its efforts to cut costs. This article presents another case study, but a wholly new angle. This was about making essential process improvements throughout...

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....

You know that the core of any credit union operations-transformation effort revolves around the process. Whether it’s an operational process or a member-journey process, it’s the bedrock for every must-do initiative on your strategic...

Automate new loan member acquisition at massive scale—pinpoint cross-sell prospects Prioritized from your existing data plus external demographics Custom-tailored to your credit union’s strategy, members, and geography ...

More