FedChoice Federal Credit Union went live March 23 with MeridianLink® Insight, the business intelligence component of MeridianLink, Inc.’s multi-product platform, MeridianLink® One. The $437 million asset credit union in Lanham, Md., was already live with additional MeridianLink® products, including MeridianLink® Consumer, MeridianLink® Opening, MeridianLink® Portal, and MeridianLink® Engage.
“Today’s credit unions can benefit from the power of the MeridianLink One platform to offer members frictionless lending experiences and personalized offers while leveraging actionable insights to simplify workflows and reduce risk,” says MeridianLink Chief Product Officer Devesh Khare. “We are proud that FedChoice Federal Credit Union chose MeridianLink Insight’s interactive analytical capabilities as a gateway to meaningful data-driven decision-making. The resulting new opportunities allowed them to deepen the financial relationships with their members and provide a better lending experience.”
The credit union leverages MeridianLink Consumer, Opening, and Portal for loan origination and account opening. It has also completed several successful campaigns through Engage—a data-driven lending and deposit marketing automation solution—but sought to increase its breadth to segment additional audiences within its member database.
MeridianLink Insight—a solution that provides financial institutions access to their near real-time origination data to make better business decisions faster—offered deeper insights to quickly uncover high-value customer segments while highlighting opportunities to improve operations.
“Our biggest pain point was processing times,” says Brian Fleming, head of business intelligence for FedChoice Federal Credit Union. “The addition of Insight allowed us to shift from reactive to real-time management of the loan origination process by shortening the window between seeing results and acting on results.”
By utilizing the integrations available through MeridianLink One, the credit union can continue to create personalized communications to an even broader audience while providing a frictionless member experience and streamlining internal resources and processing times.
MeridianLink Insight can help financial institutions identify and understand the root causes of operational bottlenecks. With this deeper visibility, organizations can quickly remediate the bottlenecks to save time and improve the borrower experience.
To learn more about how FedChoice Federal Credit Union brings more value to its members, visit here.
MeridianLink® (NYSE: MLNK) powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink's scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle.
MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities.