3 ways intelligent automation can amplify credit unions’ performance, delight members, and elevate results

In today’s demanding economic climate, credit unions are feeling the pressure on their budgets, leading many to prioritize projects that deliver quick returns, enhance operational efficiency, and manage costs effectively—all while continuing to provide personalized services, attract members, mitigate risk, and ensure compliance. As a result, many FIs are turning to tools that leverage artificial intelligence (AI) to augment workflows and processes, also known as “intelligent automation”.

When applied effectively, credit unions can use intelligent automation to cater to a diverse membership base, from first-time home buyers to financially savvy college students to established businesses. By incorporating varying degrees of AI technology and leveraging the resulting data insights, credit unions can empower their teams to adjust the levels of insight-based engagement, driving relationship profitability, member retention, and growth.

Here’s how intelligent automation can benefit your credit union:

Boosting efficiency

Many credit unions are still grappling with outdated systems and manual processes, slowing down origination and underwriting processes. So much of relationship managers’ and underwriters’ time is absorbed by administrative tasks, leaving less time for complex credit cases, relationship building, or providing personalized experiences. These inefficiencies can be exacerbated by poor internal collaboration across different teams, negatively impacting employee experience and productivity.

Intelligent automation can help them offer tailored products and services while ensuring compliance during deal management and reducing redundancies. This frees up time for value-adding activities, face-to-face member interactions, and proactive portfolio management.

Retaining talent

Employee turnover has surged to 23.4% across financial institutions of all sizes, a 7% increase from last year. Compensation and benefits packages alone won’t win this talent war. According to Accenture, 82% of employees say technology influences their workplace choice. To attract and retain employees, credit unions need to radically reimagine their front-office experience so new employees can spend time honing their skills, not entering data.

Intelligent automation that replaces tedious, manual processes and enables fast, seamless workflows and low-touch interactions can empower employees to better serve members and enable members to self-serve when appropriate. The result? Employees can confidently step into the trusted advisor role that members expect, equipped with powerful tools and insights.

By empowering your employees to do their best work faster, you’ll increase both employee and member retention, allowing your business to grow to its full potential.

Enabling growth

Intelligent automation can accelerate workflows, reduce manual tasks, minimize human errors, and boost operational efficiency. In fact, 31% of large organizations now plan to invest in Robotic Process Automation (RPA), up from 13% a year ago.

By eliminating time-consuming, manual processes, employees can focus on building member relationships and ensuring each interaction drives future revenue. As they sharpen their skills, they’ll be able to drive further growth in the larger business.

As interest rates and inflation contribute to a tough economic landscape, budgets will continue to tighten. AI-fueled intelligent automation is the next step to help you increase your time efficiency, retain your talent, and grow your business.

Rob Craig

Rob Craig

Rob Craig is the General Manager of nCino's Portfolio Analytics business, which over 1,000 financial institutions utilize to more effectively manage portfolio risk and meet regulatory requirements. Prior to ... Web: https://www.ncino.com Details