During core switch, credit union’s document management solution evolves with it


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Whether it’s due to limited workflow functionality or an inability to integrate well with other systems, switching cores is a growing trend in the credit union industry. With more consumers looking at financial options than ever before, the systems you rely on every day need to be able to communicate. It’s essential that you’re able to answer questions quicker than your competition – especially when you’re switching cores. 

Read on to learn how Orion Federal Credit Union leveraged the flexibility of its document management solution to enable communication when it switched its core system to Corelation’s Keystone.

1.       Decrease paper dependency so employees easily find information

With loan originations on the increase and new members signing up, growing credit unions are awash in paper. That’s the primary reason why Orion turned to document management – also called enterprise content management (ECM). Now, instead of filing paper, member service representatives scan documents as they receive them. Information is also immediately ingested from branch locations, making it instantly available while kick-starting processes automatically.

Going paperless not only sped processes, it also enabled the Memphis-area credit union to save money on storage and shipping. Instead of relying on costly couriers, everything is easily available in one centrally-located database. And with electronic document workflow automatically forwarding documents and information through processes, Orion gains even more speed and accuracy – giving it a competitive advantage.

2.       Integrate to tie systems together

However, for document management to help decrease costs while increasing productivity, it needs to play well others. That’s one of the big reasons why Orion stuck with its document management solution. With an annual software update that gives it the ability to easily integrate with almost any application, it allows Orion to tie systems together so they communicate and share information.

For example, before using document management, if a member visited a different branch than where his or her signature card was on file, Orion employees had to make phone calls to get copies faxed over. That wasn’t providing superior service, nor was it projecting trust to members.

Sound familiar?

With a document management solution working in the background, member service representatives now retrieve documents and information without leaving familiar applications. All it takes is a mouse-click. The increased speed and ease of the process makes employees more productive and members more satisfied. Integrating its core banking platform with OnBase empowers Orion employees to instantly find information – so they focus on members instead of searching through file cabinets and desks.

3.       Capitalize on flexibility, now and in the future

Another important aspect of integrating a document management solution with other applications is how well it does so without custom coding. That gives you the flexibility to expand the solution on your own – according to your needs and budgets – so it evolves with you. The solution should also be flexible enough so you can implement it departmentally or enterprise-wide. You should also be able to deploy it on-premises or in the cloud – saving on infrastructure costs and letting your IT department focus elsewhere.

With millions of consumers looking for banking options, you need to be able to trust that your systems are optimized so you focus on your members. As cores continue to mature and lure credit unions to switch, you need to make sure you have a platform that will enable your systems to communicate. Using a flexible solution is the key to success.

Michelle Harbinak Shapiro

Michelle Shapiro brings more than 15 years of experience in the banking industry to her role as Financial Services marketing portfolio manager at Hyland. Her mission is to share best... read more about: Michelle Harbinak Shapiro

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