BY JASON O’BRIEN
If your credit union is struggling to keep electronic pace when it comes to risk management services, you may very well be confusing and frustrating your current and would-be customers. Fortunately for CUs, risk management handling isn’t rocket science. Using a unified dashboard can help you pilot technology with barely a second thought.
Thanks to the ease and accessibility provided to us by smartphones and tablets, consumers now expect similar electronic competence in all aspects of their lives. Unfortunately, financial institutions, and especially those in the risk management space, have struggled to keep up with this trend. Most banks and credit unions separate various risk management service offerings, such as collections, payments processing, insurance tracking and asset recovery, into entirely different silos and access them individually on an as-needed basis. Not only is this confusing for lenders, but it is also extremely frustrating for the modern consumer who is used to speed and efficiency when it comes to technology. Fortunately, risk management does not need to continue to be handled in this way.
On April 1, 1976, childhood friends Gary Dudley and Charlie Amato founded SWBC with $1,500 of starting capital. Their aim was to help financial institutions avoid losses, mitigate risks and strengthen their loan portfolios. They concentrated on managing relationships with credit unions, banks and insurance companies, including the management of overhead and staff. Their strong client relationships and focus on quality service allowed SWBC to grow at an incredible pace, and today it is an international financial services company providing a wide range of insurance, mortgage and investment services to businesses, families and financial institutions.