Credit unions are at a crossroads, striving to modernize their operations while meeting the ever-evolving expectations of their members. Emily Steele, President and COO of Savana, recently spoke with Michael Lawson at CU Broadcast to discuss how credit unions can overcome operational inefficiencies and deliver better member experiences.
Breaking the ‘Swivel-Chair’ Cycle
Many credit unions are still facing the burdensome issue of “swivel-chairing” between systems—where employees must toggle between multiple platforms just to complete routine member interactions. Steele shared that in some financial institutions, employees navigate up to 18 separate systems to assist members, leading to fragmented, transactional interactions. The long-term impacts of this inefficiency erode employee productivity and member satisfaction.
The Modernization Challenge
Steele’s insights centered on three key themes:
- Unifying systems to provide seamless workflows for employees and better experiences for members
- Bridging gaps between self-service and assisted interactions to meet evolving member expectations
- Positioning for long-term success by streamlining operations and reducing risk
She pointed out that many credit unions have heavily invested in front-end digital channels and back-end systems, yet internal operations remain underdeveloped. Previous integration attempts often lack the orchestration and user-interface layers needed to create cohesive workflows. Steele emphasized that modernization requires a shift in perspective—focusing on internal operations to drive real efficiency and reduce disruption and risk.
This internal focus also ensures credit unions can meet shifting member expectations. With retail experiences setting the standard, members now demand seamless, personalized interactions across all channels. While self-service options in online banking have become a baseline expectation, there’s a growing need for more advanced self-service capabilities and a consistent experience across digital and in-person interactions.
Preparing for the Future
Steele also discussed the broader opportunities for credit unions, particularly in light of potential mergers and acquisitions. By unifying their technology and processes, credit unions can enhance operational efficiency, foster loyalty, and set the stage for future growth.
Her message is clear: Focusing on internal modernization not only improves current operations but also positions credit unions to stay competitive in an increasingly dynamic market.
How Savana Helps Credit Unions Transform
Savana’s innovative solution addresses these challenges by:
- Integrating systems of record to eliminate data silos
- Orchestrating processes to create seamless workflows
- Providing a unified interface that enables Member Service Representatives (MSRs) to access a 360-degree view of each member relationship
This streamlined approach improves service efficiency, reduces friction, and allows for more meaningful, consultative interactions between credit unions and their members.
Watch the Full Interview
Watch the full interview on CU Broadcast HERE to learn more about how Savana is helping credit unions transform from the inside out.
