Member Driven Technologies (MDT), a CUSO that hosts the Episys core platform from Symitar to provide a private cloud alternative for core processing and IT needs, today shared highlights from its unique 17th year in business.
2020 marked significant growth and success for MDT, both with clients and internally. The CUSO signed three new credit unions, successfully onboarded six and secured 10 client contract renewals (with an average renewal term of six years). Out of the six conversions completed last year, four were virtual. MDT quickly shifted its strategy to accommodate pandemic-related restrictions, prioritizing frequent check ins and video chats to ensure these projects were executed efficiently and effectively. All four virtual conversions were a success and even completed within the original timelines.
The company also added more than 30 new products and/or enhancements to its offerings, many of which helped credit unions and members navigate the pandemics impacts. These updates included Banno Online and Mobile and a new, sophisticated eSign solution. This continued prioritization of technology is reflective of MDTs dedication to delivering an open platform, allowing credit unions to select and implement the products and services that best meet their unique needs.
Despite external challenges, MDT continued to put its people and community first; the company hired five new employees and awarded five promotions last year. The CUSO also hosted a virtual talent show (MDTs Got Talent Zoomathon), raising $20,000 for the United Way Organization in Montana and #FeedtheFrontLine in Detroit, helping to provide meals to essential hospital workers. Demonstrating its commitment to equality for all, MDT launched a social justice committee last year, aimed at promoting and celebrating diversity and inclusion.
MDT received both national and local recognition for its dynamic culture. The CUSO was acknowledged as a Best Fintech to Work for by Arizent based on feedback from employee surveys inquiring about factors such as workplace policies, practices, philosophy, systems, demographics and the overall employee experience. Crains Detroit Business also recognized MDT as a 2020 Cool Place to Work in Michigan for the fourth consecutive year, ranking no. 16 among medium sized companies on the list.
While 2020 brought a unique set of difficulties, we were proud of how our organization responded, stepping up for our credit union clients and our employees during a time of great uncertainty, said Larry Nichols, CEO and president of MDT. As we look ahead to 2021 and beyond, MDT will continue to prioritize supporting our people and communities, as well as delivering the open, modern technology our credit union clients need to make a difference and succeed.
About Member Driven Technologies
Member Driven Technologies (MDT) provides a private cloud alternative for core processing and IT needs. The CUSO hosts the Episys core platform from Symitar, as well as dozens of complementary solutions and supporting services to help run the entire institution, such as digital banking, payments, lending, security, continuity and regulatory solutions as well as imaging, consulting and hardware purchasing services. MDTs open platform allows credit unions to seamlessly integrate with virtually any technology provider of their choosing. By alleviating the technology burden, MDT frees credit unions to focus more on member service. With the CUSOs hybrid approach to outsourcing, credit unions across the country are boosting efficiencies, enhancing cybersecurity and business continuity and reducing costs. MDT serves credit unions representing more than $22 billion in assets and approximately two million members. Visit mdtmi.com or follow @memberdriven for more information.