Are antiquated technologies and infrastructures holding you back from creating the branch experience you desire?
You’re not alone.
The banking industry as a whole is struggling to keep up with quickly changing consumer expectations and technologies—with most feeling stuck in the mud when it comes to choices and options they can implement within their own network.
Still, many FIs are relentlessly trying to find the right path to transition their branch of today into the branch of the future. Here’s how one FI is breaking free from legacy systems to improve branch processes while opening doors to new technologies.
Firefly CU Sparks an Energized Branch Experience
Firefly (formerly US Federal Credit Union), a 70,000+ member, 1.1 billion dollar credit union was searching for ways to enable a branch experience that would match the spirit of their new brand and name. They knew they wanted to enhance the experience with best in class technology, cash recyclers and dispensers, but struggled with a legacy cash handling solution that limited choices in hardware they could purchase, plus added inefficiencies, as all transactions required extra steps to complete.
Jon Hallberg, VP of Information Services at Firefly CU explained, “Our existing cash handling interface software was a recommendation of our core processing vendor, and it’s simply what they are familiar with. Cash handling is not their core competency, nor should it be. However, this “familiar” interface is based on older technology and doesn’t keep up with the changing needs of today’s financial institutions.”
The answer for Firefly was CFM, a vendor-agnostic solution that integrates any cash handling hardware directly with their core platform.
“By integrating our recyclers and dispensers directly with our core, CFM changes how we handle transactions in the branch,” Halberg added.”This partnership helps us create a flexible command and control platform fully integrated to our core, allowing us to adopt new technologies while better leveraging our investment in existing cash handling equipment.”
Many FIs are simply unaware of the latest technologies out there that can help solve some of their biggest challenges. Until CFM reached out to Firefly, they assumed there wasn’t much they could do to enable the experience they so craved.
The encouraging news is that companies like CFM are seeing a need and problem, and working to solve these challenges. Banks and credit unions will always be an essential part of consumers’ lives, and the creative ones are finding ways to shed their antiquated systems to step up their game.
CFM helps financial institutions transform the banking experience through core-integrated solutions. For more information, contact us here.