The latest from Joman Kwong

Feb 8, 2024 - by Joman Kwong, Laserfiche

How to simplify vendor management with more intelligent and consistent processes

Today, financial institutions are adopting more new technology solutions to provide better services to customers — and credit unions are not exempt from this growing trend. However, the process of vetting ...

Dec 19, 2023 - by Joman Kwong, Laserfiche

From bookstore to Amazon: How a new paradigm spurs credit union growth

For credit unions, new member acquisition can be a costly proposition. The price to acquire a new member is around $400, each of whom generates around $100-200 annually. Many of ...

Nov 21, 2023 - by Joman Kwong, Laserfiche

Why credit unions must digitize new account openings to stay competitive

WesBanco (formerly Old Line Bank), like many financial institutions, used to process new client documents manually, leading to lost documents, siloed data and process bottlenecks. Through the power of digitization, ...

Oct 12, 2023 - by Joman Kwong, Laserfiche

How the right records management solution can streamline credit union operations

If a cluttered desk denotes a cluttered mind, what does a cluttered digital filing cabinet say about an organization? With various regulations in place that stipulate how and when financial ...

Aug 31, 2023 - by Joman Kwong, Laserfiche

How credit unions can embrace cloud solutions to accelerate digital transformation

The financial services industry has long lagged behind other industries’ technology adoption. Leaders often balk at digital transformations over concerns that migrating infrastructure and applications from an on-premises to a ...

Aug 8, 2023 - by Joman Kwong, Laserfiche

Low-code/no-code: The game changer for resource-strapped credit unions

Credit unions are in the midst of sweeping transformation. Many have realized the value of expanding digital capabilities to drive growth and gain competitive advantages in the fast-changing marketplace. Digitizing ...

Jul 19, 2023 - by Joman Kwong, Laserfiche

Why information governance should be a priority for credit unions today

Many large credit unions have made remote work a regularity. A National Association of Federally-Insured Credit Unions (NAFCU) survey found that employees at credit unions with more than $1 billion ...

Jun 2, 2023 - by Joman Kwong, Laserfiche

To foster better relationships with members, credit unions must focus on data accessibility

Data is the lifeblood of virtually every industry. As financial institutions committed to serving their members, credit unions must also harness the power of data to drive better member relationships. ...