Best Innovation Group, Inc. (BIG), an innovation catalyst and strategic consulting partner focused on strengthening and growing credit unions, is excited to announce the availability of its latest consulting offering. This new service is targeted at helping credit unions significantly improve the efficiency and profitability of their lending decisioning.
“Competition for loans is fierce,” explains Kirk Kordeleski, managing partner and Chief Strategy Officer at BIG. “The world of credit union lending is changing dramatically as advanced automated decisioning becomes a big part of the new definition of member service.”
The operational costs of lending and servicing continue to go up as many credit unions hold off on implementing automation tools that can reduce costs and improve member experience. While automated decisioning is becoming more common, many credit unions persist in second-guessing their decision engines, all while pressure from non-bank lenders is increasing significantly.
BIG’s lending assessment is designed to engage credit unions who struggle with common issues such as approval process timelines, underutilization of automated decisioning tools, suboptimal decisioning criteria and decreased margins due to processing costs. BIG’s holistic approach to lending focuses not only on selecting and deploying tools, but the entire end-to-end loan origination process.
“We don’t build or sell any products in that space,” offers Pete Sedgewick, a digital transformation expert on BIG’s Consulting Services team. “We have no vested interest in any particular software. We are completely focused on optimizing processes and tools. If a credit union needs to implement new technology, we can help them evaluate vendors, prioritize functionality or assess lending criteria to select the right product for their goals.”
To learn more, contact Kirk Kordeleski at kirk@big-cu.com.
Kirk Kordeleski
Pete Sedgewick