Author Archives: Shaun Murray

Email and Sign Documents: who should you use?

We receive a lot of calls where we discuss with credit unions the ins and outs of electronically sending documents to its members to sign. At ESP, we like DocuSign® – so much, in fact, that we use it here in our office.

We know there are several options in vendors out there and there are many good ones. So, the short answer to the question posed in this title is simple – choose what solutions work best for your needs. If you are still researching vendors, here is some food for thought:

  • Are you looking to have documents signed by members? If so, get DocuSign®. It has become the industry standard for electronic contracts. The app is simply great. There is an extension for Chrome that provides useful functionality and the print driver works really well too. We’ve carefully examined other solutions, but we keep coming back to this one.
  • Do you want to have loan documents signed remotely? Preparing and transmitting loan docs couldn’t be easier. First, create your loan docs in FORZA. Next, generate your loan docs, they will pop in as PDFs. Then choose to print them by selecting the “Print to DocuSign” as your printer and the documents will open up in DocuSign. You will then enter the member’s email and name, choose the signing order, place fields and send away. Both parties will receive originals for their records. It’s a pretty slick system.

As a member, it is convenient, it works and the UI is very pleasing. As a technology provider, we seek to integrate only those solutions that will add value to the end user. DocuSign® does just that. We suggest our clients implement it. Think of your members, I assure you they want electronic document signing.

To learn more about DocuSign® please check out their flyer Top 10 Reasons Why Financial Services Companies Choose DocuSign. As for sending and receiving documents securely, we have a great solution for that – Sync&Share. And at $9 a month, I will tell you that our solution for document sharing is the cat’s meow.

 

Shaun Murray
Chief Elbow Rubber @ ESP, Inc.

Green Bay Packer Ticket Giveaway

We are excited to give away 6 tickets to the Packers Game on January 8th at 15:40 CST.

We put all Wisconsin credit unions into a hat and drew 3 at random.  Each credit union will receive 2 tickets.  We wish we all could be there with you, but have a blast anyway.

For 3 of you…it is your lucky day!  To see who that is, you are going to have to drag yourself through a 3 minute video.  Of course, it was going to be as easy as reading it on the site; silly you!

14th WI Credit Union Signs

Press Release, For Immediate Release:

ESP Signs 14th Wisconsin Credit Union

Enhanced Software Products, Inc. (ESP), the Spokane, WA-based credit union Data Processing company, announced that Holy Family Memorial CU in Manitowoc, WI has chosen FORZA3™ for their new core processing system. Holy Family Memorial CU was looking to expand their offerings, giving their members what they are looking for. At 1,915 Members, look at what ESP and the Credit Union are able to accomplish!

Home Banking, Audio Response, Website Hosting, Statement Print Production/Mail, E-Statements, Online ATM/Debit, Mobile Banking, Digital Documents, Paperless Receipts, Member Imaging, Bill Pay, E-Notices and more!

When asked what was most important in making the decision on what Core Processor to choose as a partner; Price, Client Testimonials and Solutions were at the top.

We asked Susan Funk (President at Holy Family Memorial CU) to spend a couple of minutes so that we may determine why ESP was such a good fit for her Credit Union, here is what she had to share:

Did you speak to ESP Clients prior to your decision?

“Yes, I spend a full day at Marathon County Credit Union (Wausau, WI) with Anne Heggelund and also spoke with Sarah Steichen at Oshkosh Truck CU (Oshkosh, WI). Both were very pleased with your products and service.”

Why did you choose ESP over the others?

“I’ve spoken to many credit union managers under $50 million at the Small Credit Union Forum the Wisconsin Credit Union League puts on twice a year. For the last two years, I’ve asked as many people as I could who they use for a core processor and what they like and don’t like about it. Your product seemed to get the best reviews.

“Susan really worked with our Clients on this. She was very cautious of what other ESP Clients had to say and did her due diligence with regards to product demonstrations and such. Much larger Credit Unions on other Core Processors are being stymied to offer the solutions the Holy Family Memorial CU will be rolling out. We took our model and worked with a sub $30 Million credit union to offer up a suite of solutions that exceed member expectations and require one phone call to support. One of the ways I measure our success is by taking a 30,000 foot at what we accomplished for each new/renewing client; this business model is 20-years in the making and it sure is nice to be here – now.” Shaun Murray, President at ESP, Inc.

Everett, WA Credit Union Signs

Press Release, For Immediate Release:

ESP Signs Community Healthcare FCU

Enhanced Software Products, Inc. (ESP), the Spokane, WA-based credit union Data Processing company, announced that Community Healthcare FCU in Everett, WA has chosen FORZA3™ for their new core processing system. Community Healthcare FCU is deploying many solutions under ESP. Solutions like:

Home Banking, Mobile Banking, Statement Printing/Mailing, E-Statements, Bill Pay, E-Notices, Credit Bureau through MeridianLink, Paperless Receipts, Member Imaging, Digital Documents, Shared Branching, Online ATM, Debit and Credit Cards…and much more.

When asked what was most important in making the decision on what Core Processor to choose as a partner; Price, Client Testimonials and Solutions were at the top.

Gayle Yost (President at Community Healthcare FCU) spent some time with us to determine what made ESP stand apart from the rest. Here are some of the things she had to say:

Did you speak to ESP Clients prior to your decision?

“I spent a day with the staff at Connection Credit Union (Silverdale, WA) – observing their tellering process, loan origination and accounting operations. All of the staff I worked with had the same thing to say – “ESP goes above and beyond to make the system work for us”. That’s really what I was looking for in a core processor – a company that cared about what was important to me and found ways to make that happen instead of looking for reasons it wouldn’t.”

Why did you choose ESP over the others?

“Other than the reasons listed above – I like doing business with people I know…. people I can call and actually reach, have a conversation with and find a resolution to a problem with. My experience so far with ESP is that this will be such a company.”

What would you tell other Credit Unions about ESP?

“A Conversion is never fun but you have to look long term. Who do you want to be doing business with in 2 years, 5 or 10? This is a company I believe has the best interest of CU’s at heart.”

 

“Through the process of Gayle’s due diligence it was very apparent that she was looking for a company that had the solutions she was looking for, while maintaining a high level of support. These are two areas that we excell in, to say the least. Our goals is to ensure that Gayle and the rest of her staff at Community Healthcare FCU understand that we will be here to give them the solutions they want and support them when needed. I look forward to showing them what we can do,” Eric Trick, ESP Sales Executive.

How is a Mobile App Used?

This article is from BankNews.com

August 31 – According to a recent Chase Bank survey, about one-third of Americans use mobile banking apps now more than they did a year ago. Not surprising, millennials are the heaviest users, with 67% of young adults reporting they regularly rely on their smartphones to monitor their finances. And 45% of Hispanics use mobile banking.

A majority of respondents (54%) say they use their app at work. People also regularly conduct mobile banking during pauses in their day, such as standing in the checkout line at a store (38%), during their commute (28%), while waiting to pick up a child from school (24%), and even while on a date (17%).

Active mobile banking users average 17.5 visits to the app each month—mainly from their smartphones and, to a lesser degree, from tablet devices, according to Malauzai Software (an ESP partner).

Front Line newsletter subscribe today “Understand that 80% of the time an end-user logs in, they do nothing other than check balances and look at recent history,” the study indicates.

Although many people still prefer to conduct business inside a branch, you’ve probably noticed the shift toward mobile and online transactions among your membership, too. That includes older members who’ve discovered the advantages of banking on the fly.

Expect members to approach you with questions about your credit union’s mobile app.

The less tech-savvy types might need you to show them how the app works. Consider that about 15% of log-in attempts fail, according to Malauzai Software.

Start slowly with members who express a lack of confidence with the app. Show them functions like checking a balance and viewing recent transactions before introducing more involved functionality.

On the other end of the spectrum, you should have a solid understanding of the mobile app’s advanced features, so you can relate with members who consider mobile banking a necessity and rely on it as their primary tool for interacting with the credit union.

For instance, mobile check deposit and person-to-person payments (P2P) continue to gain momentum.

A typical financial institution has 25% more active mobile depositors than a year ago, according to Malauzai Software—perhaps in part because improved software now captures the image on the first attempt 75% of the time.

P2P users now average 1.85 money transfers per month, with an average payment of $312.

It appears Apple has fueled a lot of this growth: Owners of its devices send money at 65% higher values than Android users.

Mobile banking usage peaks on Fridays, Malauzai Software reports, but Wednesday is the top day for viewing check and deposit images.

Growth Guaranteed

We recently announced some numbers we are very proud of. As announced on Credit Union tech-talk:

“Enhanced Software Products (ESP), the Spokane, WA-based Credit Union Core Data Processor, recently announced the positive growth results of a survey of their entire credit union client base. Their overall average financial and member growth numbers over the life of a credit union on their FORZA3™ core system are: 35% growth in number of accounts; 98% growth in assets; and 82% growth in loan portfolio.”

We are running at 100% renewals and our Clients are growing. This study/research was performed across our entire client base, no matter how long we have been partners.

6.14 years, Amazing!

“To be the Most Trusted and Admired Core Processor in the Industry”

That is our Vision. It is not to imply we are going to take one hundred credit unions from our competitors or expect that our competitors be knocking on our door asking us what we are doing “right”. We know better than that. The Vision is a direction, words to live by if you will.

“Most Trusted”. This speaks to our Clients. If we continue to do the right thing, as close to every time as humanly possible, we will gain Trust. A solid infrastructure to support growth, developing and deploying tested, quality solutions every time and continuing to improve the communication channels. All of this will lead to Trust. We measure the Trust by Agreement Renewals, what we like to call “Opportunities”. An opportunity to show that we deserve to be the chosen core processor for our Clients. So how are we doing for 2015, here is a breakdown:

Agreements Renewed =

10 / 10

Average Renewal =

6.14 Years

“Admired”. The way we would like to be viewed. Be the best partner we can be for our Clients, the best partner we can be for our strategic alliance partners and carry our ESP, Inc. name in the industry with pride. Our Client peers and ESP partner peers, we want those people to look at the relationship we have formed and “admire” that working relationship, through the good and bad. We take great pride in all of our Clients and we are proud of the partnerships we have formed in the industry, something we take very serious.

“Be the Most Trusted and Admired Core Processor in the Industry”, striving to be the best is bringing us opportunities to serve new Credit Unions, retain/serve existing Clients and be a great partner to our strategic alliance partners.

100% and 6.14 years – we are working with other Clients on renewals right now, but we are very excited about this year and the future! 2016 will be our 20th year and we will enter it full-speed ahead.

Shaun Murray, Chief Elbow Rubber

Same-Day ACH. Soon to be Reality!

NACHA-logo

NACHA, The Electronic Payments Association, has adopted a Rule to provide new, ubiquitous capability for moving ACH payments faster. This Rule will enable the same-day processing of virtually any ACH payment.

This is extremely exciting for the Credit Union and the Member. With all things ACH, you will want to take a couple of minutes and read a little more about it. Feel free to view this information on NACHA’s website, here http://bit.ly/1MHaOMh.

Are you considering RDC? Ponder This

Remote Deposit Capture (RDC) hit the credit union industry fast and hard. Simply, RDC is the ability to deposit a check into a credit union account without having to physically deliver the check to the credit union. In the past it was usually accomplished by use of a table-top scanner connected to a desktop computer. The scanned digital image of the check was then email to the credit union for deposit. But with smartphones all that has changed.

Smartphones can now allow anyone at anytime and at anyplace (that has cell coverage) to deposit checks. This delocalization of banking is empowering members to take control of their own check transactions just like Amazon empowered shoppers to abandon brick-and-mortar stores for virtual shopping.

RDC was a hot button item for a period of time that had a lot people saying “I have to have that”. Now that the excitement has subsided, like it does for all new technology, stronger heads are prevailing. Personally, I am not saying RDC is gone or going away, by any means; but I will say that credit union executives are starting to research their options a bit more which is good for everyone.

I found an article that CUES just ran on things to consider when deploying RDC (titled “Play It Safe“). The article encompasses almost every talking point that I share with credit unions when they are considering the addition of RDC to their arsenal of member solutions. RDC is a really great solution for the minority of members that will use it. Given that, now you have to consider the cost associated with the deployment of that solution. Like so many other solutions (online ATM/debit, Shared Branching, mobile banking, and more) there is more to the solution than meets the eye. Security, speed, availability, phone availability, cell coverage and the list goes on. But I digress, this CUES Article will help you ask the right questions when considering this solution.

Shaun Murray, Chief Elbow Rubber

View Shaun Murray's profile on LinkedIn

New Website? We can help.

One thing has been consistent throughout the year with our Client visits; Everyone is realizing the importance of updating their website. Let’s face it, your website may very well be the first thing that a potential member sees and we know they are visiting your website more than your branch.

So why are you not potentially putting your best foot forward? Could it be…

  • Feeling overwhelmed by where to start
  • And the cost

We have been searching high and low to find a vendor that represents our core beliefs when working with people and understands how important it is to have a solution for all credit unions. We wanted the flexibility to offer a stellar site at a price point virtually everyone can get into, while allowing others to build to their hearts content. We found that partnership in FDG Web (www.fdgweb.com).

 

“FDG Web has been very helpful and knowledgeable with the creation of our new website. They’ve taken our brand and translated it into an aesthetically pleasing site.”

Michelle Santos, CONE Credit Union

 

Now, you can work directly with FDG Web to build a site to fit your needs. Once complete, you can have either FDG Web or ESP host your site. The ongoing support and maintenance can be handled by you, or you can enlist in the assistance of ESP. All pricing, invoicing, requests, questions, etc. will go through ESP; keeping your 1-point of contact the same!

We are very excited about this offering.

If you would like more information, please fill in the fields below and submit. We will send you a PDF outlining the offering. If we feel that a call is in order, we will give you a ring first!