INDIANAPOLIS, IN — January 29, 2010 — fiVISION had a banner year in 2009 adding three new products: Web Loan, Wire Transfer Automation, and HSA Enrollment – along with a few dozen new enhancements to its current product line. fiVISION also signed and expanded services with several credit unions ranging from $240 million to $4 billion in assets. They include:
- Truliant Federal Credit Union ($1.1 billion; 181,191 members; Winston-Salem, NC)
- Digital Federal Credit Union ($4.4 billion; 370,309 members, Marlborough, MA)
- E Federal Credit Union ($240 million; 24,472 members; Baton Rouge, LA)
- Liberty Bay Credit Union ($621 million; 27,958 members, Braintree, MA)
- Sb1 Federal Credit Union ($490 million; 32,881 members; Philadelphia, PA)
fiVISION’s new products for 2009 included:
Wire Transfer Automation module
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 automation features in this new module are very smooth and allow us to focus on the exception items in our daily operations,” states Digital FCU’s Vice President of Support Services, Craig Roy. “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.”
The module benefits credit unions like Digital, significantly reducing the required work effort by having the system automatically perform steps that staff had to perform manually – often cutting the workload in half.
Web Loan module
fiVISION’s Web Loan module integrates the process of becoming a new member and getting a loan approval at the same time. This consolidated process bypasses all data entry screens, streamlining this task and eliminating the redundant manual inputting of member information – which allows the individual to become a new member and get a loan all in one session without retyping any personal and financial data.
“Today, our members know exactly what they want in a loan in relation to their budgets,” says Digital Federal Credit Union’s Diane Richard. “With this module, they don’t have to go through the entire loan application process to discover their monthly payment. All that information is provided up front.”
autoENROLL module
fiVISION’s affordable Health Savings Account Opening module, autoENROLL, walks applicants through a structured application that results in the opening of a Health Savings Account – reducing the process to five minutes. The application asks for different information based on whether or not the consumer is already a member. Applications can be made in person, over the phone, or online and all channels utilize the same decision criteria for opening the new account. In addition, credit unions can either choose to be integrated with their host processor on a real-time basis or use these features in a cost-saving batch environment.
“We believe that it is extremely attractive if we are able to offer an employer's staff the ability to go online and open and fund their HSA account at their leisure versus doing the same thing at some type of annual benefits meeting,” says E Federal’s EVP of Operations, Stephen Mathews. “We also see HSA accounts as a tool that will assist us when we begin to offer member business services.”
“This was quite a year for fiVISION developing and delivering new products to the credit union space,” says Mike Winter, president of fiVISION. “We see each of these products saving credit unions a world of time, especially now that many credit unions are cutting back or freezing staffing. The automation these modules provide can help credit unions that are experiencing these challenging scenarios compensate without losing the quality service for which they’re known. We look forward to another exciting year helping credit unions better serve their members.”
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.
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