INDIANAPOLIS, IN — January 6, 2010 — Digital Federal Credit Union ($3.9 billion; 331,202 members; Marlborough, MA) launched fiVISION’s new Wire Transfer Automation module in early October 2009 and has benefited since. On its first day of use, for instance, Digital processed more than $500,000 in 79 wire transfer requests from its members and is now averaging nearly 100 requests per day. The new automation capabilities shave several minutes off the processing of each request, savings that add up quickly after performing an average of 100 wires a day. Now credit union staff members have more time to perform other important tasks such as building and maintaining member relationships through personal service.
“As you can see, we process a lot of wire requests – even on the first day and each day after,” states Digital FCU’s Vice President of Support Services, Craig Roy. “The automation features in this new module are very smooth, and allow us to focus on the exception items in our daily operations. It also helps our staff do a better job more efficiently, saving us costs in the long run while maintaining a high level of service.”
fiVISION’s Wire Transfer Automation module complements its memberWORKS CRM suite, simplifying and streamlining the processes associated with capturing, approving, and sending wire transfer requests from members. This process also has the capability of “auto-approving” a member’s request in real-time while alerting staff to investigate other requests before processing.
The module benefits credit unions like Digital by streamlining and simplifying the entire wire transfer process, increasing compliance, reducing risk (through automated security, fraud and OFAC checks, etc.), focusing staff effort on items that need attention and automatically processing those that don't. This process significantly reduces the required work effort by having the system automatically perform steps that staff had to perform manually – often cutting the workload in half.
In addition to reducing the workload, fiVISION’s Wire Transfer Automation Module can be used as a standalone tool without requiring the use of the full memberWORKS CRM system. Wire transfer requests can be submitted by staff or by members directly through fiVISION’s “Online Service Request” technology. Maximum benefit using the module is gained with host integration, but significant processing efficiency can be gained without integration to the host processor.
“We were blown away by the number of wire requests that Digital is processing on a daily basis, and are amazed at how many requests came directly from members online,” says Mike Winter, president of fiVISION. “It just shows you how easy and secure it is to use for members and staff to process. It’s amazing how this system can cut the workload in half for staff, making the process so much more efficient. We’re very pleased that Digital has already experienced success with this product in such a short time.”
About fiVISION
fiVISION provides technology platforms that enable enhanced member service and sales for credit union clients through its flagship CRM product memberWORKS and accountWORKS member enrollment solution. fiVISION, headquartered in Indianapolis, Ind., is a CUSO that was established to bring industry leading – and practical – contact management, cross selling and workflow automation technology solutions to progressive credit unions. For more information, contact fiVISION at 317.612.3350 or visit www.fivision.com.