Credit Union Executive Society (CUES) is a well-known industry news outlet and educational resource with more than 14,000 subscribers for their CU Management magazine. Their loan zone column features industry thought leadership pieces from subject matter experts, including this past week our SVP, Product Evangelism, Larry Edgar-Smith.
Within the article, Larry shared real-life examples of how lending departments have used technology to drive incredible change within their organizations. For instance, one institution coordinated and executed a sophisticated callback process to new account holders over a 45-day period. Through detailed sales scripts, efficient workflows and proper data captures (all configured directly by the business unit) the program resulted in additional call volume and 200% loan growth.
In an industry where many financial institutions are held back by their cumbersome technology, Larry encourages these organizations to look for ways to empower their employees with technology and propel them forward instead.