SRM’s CEO Brad Downs and KJS & Associates’ President/Founder Ken Sole joined us on the show to discuss the recent SRM acquisition of KJS & Associates -- and what this move means for credit unions moving forward, especially when it comes to managing today's modern core processors.

Brad talked about:

• Motivation behind SRM's decision to acquire Kenneth J. Sole & Associates?
• How this acquisition aligns with SRM's long-term goals
• How the combined expertise of SRM and KJS & Associates improve outcomes for credit union clients

 
Ken discussed:

• Significant challenges credit unions face when converting to today's modern core processing systems
• How he sees them addressing these challenges in collaboration with their vendor partners
• Why it's important for credit unions to prioritize core technology modernization
• How credit unions can ensure a smooth transition without disrupting daily operations

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

MeridianLink Vice President of Product Management Wes Zauner and Fortera Credit Union’s Chief Lending Officer Tim Wheeler stopped by the show to share how Fortera staff and its members have greatly benefited from using MeridianLink's Digital Progression Model, a customized framework designed to guide financial institutions of all sizes and at different levels of digital maturity, helping them realize the full potential of adopting a digital ecosystem.

Wes initially discussed what exactly is their Digital Progression Model -- all based on five key areas of digital transformation:

1. Consumer Experience: Enhancing the overall consumer journey and satisfaction through digital tools.
2. Data-Centricity: Collecting, analyzing, and using data to help drive informed business decisions, optimize workflows, enhance experiences, and support compliance in a data-first culture.
3. Share-of-Wallet Growth: Adopting technology that increases the share of financial products held by existing customers.
4. Instant Decisioning: Improving the speed and accuracy of decision-making processes.
5. Process Automation: Streamlining operations through advanced automation techniques.

Tim chimed in with why the credit union needed a tool like this, how staff and members have benefited, as well as sharing some significant usage results. For instance:

• Fortera Credit Union increased their ability to pre-approve members for more products, faster, all within one user-friendly application by 15-20%
• Fortera leveraged the Admin Pro service to tap into the expertise of MeridianLink system administrations, allowing the credit union to focus more time on testing and training.
• Fortera was able to increase origination volumes, better control credit risk, and improve the member experience by defining criteria that served as the foundation for instant decisioning.

They talked about the big goal they are looking to achieve, along with what they are most excited about regarding the future of this model.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

Osman Ulhaq, OneAZ Credit Union Chief Strategy & Growth Officer, stopped by the show to share the big news about OneAZ partnering with/investing in Curql Fund II to help foster credit unions' working with fintechs.

Osman explained the why behind OneAZ's partnership with Curql Fund II. What opportunities did they see to foster vetted fintechs working with credit unions?

He also shared what this partnership consists of, helping connect OneAZ with a growing list of 40+ innovative fintech companies.

In addition, Osman discussed how he see this investment benefits the credit union and helping move the industry forward fintech-wise, providing OneAZ a seat at the table to review and potentially invest in advanced technology that could place them at the vanguard of innovation.

Lastly, he talked about how this partnership helps them not only diversify their portfolio but also embrace innovative technologies that can propel the credit union's services to new heights.

Quick backgrounder on Curql/credit union partnerships: Curql connects credit unions like OneAZ with advanced technologies that have the potential to enhance operations and member impact. By forming strategic alliances with companies delivering cutting edge technologies, OneAZ will have access to collaborative relationships that may result in investments in innovative technologies that will help the Credit Union thrive in this competitive technological landscape. 

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

Christine Blake, CEO at Cardinal Credit Union, joined us on the show to share the big news about her credit union launching new online banking platform to deliver new member benefits, richer features, and enhanced security.

Christine explained what was going on at Cardinal that prompted them to launch this new online banking program, as well as what companies that are partnering with to ensure they are set for the future. Some of those companies include: Lumin Digital, Velera, Zelle, Glia, and Bits of Stock.

She also shared how she sees these technologies making a difference for the credit union and, especially, the members.

Lastly, Christine commented on the big goal for Cardinal, its staff, and members launching this new online banking platform.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

Mark Treichel, Founder of Credit Union Exam Solutions (former NCUA Director and Examiner), stopped by the show to share the latest NCUA exam trends. Specifically, Mark talked about communication challenges between examiners and credit unions, which includes delays in reports and unclear guidance.

He also discussed increasing expectations for risk management, including more sophisticated stress testing and analytical support for policy limits, as well as the growing scrutiny of information security, especially given recent cyber attacks.

In addition, Mark addressed the latest regulatory trends, such as expectations “trickling down” from larger to smaller credit unions and challenges for credit unions balancing increased regulatory expectations with resource constraints.

For a deeper dive on NCUA exam trends and more, check out Mark's podcast: “With Flying Colors” and “Credit Union Regulatory Guidance” podcast with Samantha Shares.

Enjoy our talk with Mark and let us know your thoughts. And be sure to watch the entire episode below for all the details.