Credit union leaders discuss the importance of digital experience, opportunities and challenges for driving deposit growth, and the power of technology integrations like Narmi’s partnership with Corelation’s KeyStone core banking system.
Last week’s Corelation Annual Conference in San Diego provided Narmi’s Executive Leadership Team with an opportunity to meet with dozens of credit unions that are considering, planning, or actively integrating with Corelation’s KeyStone core banking system. With member and deposit growth top of mind for many financial institutions, it was inspiring to hear how credit unions are leveraging Narmi’s integration with KeyStone via the KeyBridge API to improve their digital experience and engage their members.
Here were three key takeaways from the conference:
Credit unions that want to grow alongside the digital expectations and behaviors of their members rely on technology partners that can integrate seamlessly with their core banking system. Specifically for Corelation credit unions, the benefit of partnering with certified Corelation partners like Narmi is that it gives them the ability to quickly integrate the banking features and products their members expect while maintaining the overall quality of their digital experience.
As members become increasingly sensitive to inconsistent or frictional banking experiences, credit unions must continue to look for leveraging technology partners that can integrate seamlessly with their core banking system.
While member experience remains top of mind for Corelation credit unions, they’re also cognizant of the importance of introducing back-office efficiencies. Integrations that streamline the banking platform experience for credit union staff - for example, having the ability to see and edit member transactions or recurring transfers on the KeyStone system - free them up to focus their time on activities that drive deposit growth and deepen member engagement.
During “speed rounds” with various technology partners at this year’s conference, credit unions explored how Narmi’s integration with Corelation’s CRM, KeyInsight, improves the staff experience. KeyInsight allows credit unions to present dynamic and pre-defined offers to members based on their prior branch interaction records. When a member opens a new account on the Narmi platform, credit union staff can set up real-time alerts or custom auto-generated offers to be sent via KeyInsight (rather than manually sending them out). In one example, a credit union set up an automated email workflow to send a targeted offer 10 days after a member opened a new account. This simple workflow allowed them to engage new members with a relevant offer while saving time and resources on the back-end.
Throughout the conference, we heard from credit unions that digital deposit growth remains a top priority. As members seek partners that can help improve their financial health and daily financial habits, offering best-in-class digital account opening and digital banking experiences empowers credit unions to attract new members and ultimately drive deposit growth.
Meanwhile, technology partnerships like Narmi’s integration with KeyStone by Corelation can help credit unions further enhance and strengthen their digital experiences without introducing additional layers of complexity.
Events like the annual Corelation Conference underscore the power of technology partnerships and the collective strength of the credit union movement. It was a pleasure for Narmi to be onsite to listen to our credit union partners, exchange ideas, and learn how we can continue to serve their needs and the needs of their members.
Want to see Narmi’s integration with Corelation in action? Learn more and request a demo here: https://www.narmi.com/partners/corelation
