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Home > Technology > Five Tech Solutions that Credit Unions Must Use

Five Tech Solutions that Credit Unions Must Use

Published by Jessica Weisman-Pitts

Posted on January 23, 2025

3 min read

Last updated: January 23, 2025

Five Tech Solutions that Credit Unions Must Use - Technology news and analysis from Global Banking & Finance Review

Credit unions in the digital world need to use innovative tech solutions to stay competitive, improve member experiences, and safeguard financial assets. Here are five must-have tech solutions that can revolutionize and enhance service delivery for credit unions.

interface.ai: The AI-Powered Virtual Assistant

interface.ai is a cutting-edge virtual assistant powered by artificial intelligence. Designed to enhance member interactions, this solution provides 24/7 support across various channels, including voice, chat, and email. It can automate over 60% of member queries, reducing call center volumes while ensuring members receive prompt, personalized responses.

What sets interface.ai is its ability to learn and adapt to individual member preferences, delivering a highly tailored and satisfying experience. It offers instant, conversational AI support that lanterns and adapts to member preferences.

Blend: Simplifying Loan Origination

Blend is not just a digital lending platform, it's a user-friendly solution that streamlines the loan origination process. Whether it’s mortgages, personal loans, or auto loans, Blend integrates seamlessly into existing workflows, eliminating inefficiencies through digitization. Its user-friendly nature reassures both members and staff that the transition will be smooth and the process will be faster.

One of Blend’s standout features is its use of data-driven insights to personalize loan offerings. Members get recommendations, helping them find the best solutions for their needs while increasing application conversion rates.

Xceed: Advanced Financial Crime Management

Xceed by NICE Actimize offers credit unions an advanced financial crime management platform. Leveraging artificial intelligence and real-time transaction monitoring, Xceed helps detect and mitigate fraud and money laundering risks, making it a powerful tool to safeguard member assets.

Xceed’s dynamic risk-scoring model adapts to emerging threats and identifies suspicious activities, keeping credit unions ahead of evolving financial crimes while maintaining compliance with regulations. The platform also has a Gen AI-powered fraud assistant for mid-market banks.

Dwolla: Seamless Payment Solutions

Outdated payments like paper cheques and file-based transactions plague the insurance industry. Dwolla is a modern payment platform that empowers credit unions to facilitate fast, secure, and cost-effective money transfers. It provides Application Programming Interfaces (APIs) that allow credit unions to integrate Dwolla’s capabilities into their systems.

One of the platform’s standout features is enabling real-time payments (RTP). This feature meets the growing demand for instant financial transactions while enhancing member satisfaction with faster service.

Fortinet: Comprehensive Cybersecurity

As cyber threats become more sophisticated, credit unions need a robust defense system to protect member data and operational integrity. Fortinet offers a suite of cybersecurity solutions tailored for financial institutions, such as generative AI called FortiAI, end-to-end self-healing networks, and FortiGuard Labs.

Fortinet doesn't just offer cybersecurity solutions, it provides a proactive defense system. It uses AI-driven threat detection and response capabilities to identify vulnerabilities and neutralize threats before they can cause harm. This proactive approach provides credit unions with peace of mind, ensuring the safety of member data and operations, and making them feel secure and protected.

Moreover, Fortinet’s cybersecurity platform is a unified solution that simplifies and strengthens security management. At its core is FortiOS, a single operating system that integrates security functions across networks, endpoints, and applications. FortiManager provides a centralized management pane, while FortiAnalyzer powers advanced analytics. Lastly, FortiClient serves as a single agent for endpoint protection.

Drive Innovation and Trust Through Technology

Each solution addresses a unique aspect of credit union operations, from improving member experiences to bolstering security and combating fraud. By integrating these technologies, credit unions can enhance efficiency and build stronger, more trusting relationships with their members. These tech solutions are game-changers in an industry where trust and convenience are paramount.