It has not been easy for the mortgage servicing industry to recover and navigate the economic climate in the aftermath of the Great Recession. In addition to the surge of regulations and sky-rocketing operational costs, [...]
Paper-based processes, labor-intensive procedures, poor accuracy and sluggish performance. These are the main factors that contribute to the sky-high operational costs and low borrower retention rates in the mortgage servicing industry. The only way to [...]
Not too long ago, the idea of hosting both information and business processes outside a credit union’s own digital walls was a showstopper. Questions about security, information control and overall early adoption fears typically [...]
I’ve been a Cleveland Cavaliers fan for a long time, well before LeBron James joined the team – both times. I remember seeing Zydrunas Ilgauskas make his debut in 1997, back when the team played [...]
Credit union members are among the happiest consumers out there. Satisfaction is through the roof, so to speak. Credit unions rank high on the American Customer Satisfaction Index year over year, routinely beating banks (though [...]
For most credit unions, industry mergers and acquisitions is more than water cooler talk. It’s an everyday topic of conversation. After all, in the first nine months of 2018, an average of 15 credit [...]
The other day, I overheard someone say, “Every journey begins with a plan.” I’ve been thinking about that statement ever since, because while it sounds sound, it simply isn’t true. A better saying [...]
In the midst of the holiday season, people have to-do lists longer than the strings of twinkle lights they’ve clipped to their gutters. So it’s easy to lose sight of 2019 – to wait [...]
There’s a lot of noise in high places. Senior executives are asking questions. They’re demanding answers. What are they talking about? Digital transformation. It’s important, because Europe is currently operating at only [...]
Security is on everyone’s minds these days - especially when it comes to financial institutions that use technology as a main component of their service offerings. Many credit unions are pushing forward with digital [...]
Digital transformation used to be an IT department strategy focused on process efficiency. Today, that focus is shifting to a more holistic concept of digital transformation centered on the wants, needs and expectations of credit [...]
Financial institutions are on course to accumulate “nine times more unstructured data than structured data by about 2020.” Applications for accounts and loans continue to require more verification than ever before. Hundreds or even thousands [...]
“Financial services firms fall victim to cybersecurity attacks 300 times more frequently than businesses in other industries,” according to a recent article by ITSP magazine. And out of the record-setting 1,579 data breaches occurring [...]
LeBron James. You either love him, or you hate him. As a lifelong Clevelander and sports fanatic, I love LeBron! Regardless of your home team or even distain for professional sports, it’s hard to [...]
Life hacks. They pop up on your social media feed all the time. Hammer time? Use a clothespin to hold the nail. Crazy cords? Organize them with a repurposed paper towel roll. They’re smart [...]
