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Sharetec- Big Ideas in Little Rock- CCUL Annual Meeting & Expo

Next week Sharetec will be exhibiting at the Cornerstone Credit Union Leauge’s Annual Meeting & Expo held in Little Rock Arkansas.  Be sure to stop by our booth #124 showcasing our latest offerings and find out why we had 16 new credit unions sign with us in 2017.

If you can’t make the annual meeting just give us a call today!  We would love to see how we might could help you out as well! We know how important your members are to you and we feel the same way about our credit unions!

844-802-4441

 

Loan Decisions Simplified

While credit unions would like nothing more than to help members make their dreams a reality, the loan decision process can be difficult for even the most astute of lenders. For this reason, Sharetec offers Automated Lending to assist credit unions with making such critical decisions. 

Sharetec’s Automated Lending tool—used in conjunction with Sharetec’s loan application—is considered by many to be the perfect tool for instituting and streamlining lending parameters and guidelines. The tool auto-generates loan approval or denial based on up to 11 pre-established and weighted criteria. As data relating to debt and income is recorded, factors including debt ratios and disposable income, are auto-calculated for the loan applicant and co-applicant. 

Sharetec’s Risk Based Pricing module can be incorporated into the Automated Lending tool to further simplify the decision process. Credit unions using this automated pricing module can adjust a borrower’s interest rate based on risk level, using their own custom-created risk pricing adjustments which are auto-applied based on loan type. The customized pricing adjustments can be based on a singular factor such as credit score, to several factors, such as debt ratios, employment history and delinquency.

With Sharetec’s Automated Lending tool in place, the business of approving loans—and making members’ dreams come true—can become significantly easier for credit unions!

 

Contact Us Today!

Sharetec’s Web Member Services Capture Loan and New Membership Applications

 

 

 

 

 

 

 

With Sharetec’s Web Member Services feature, your Credit Union can conveniently do double duty. This business tool enables you to offer both members and non-members the means to apply for loans through your Credit Union website. And as non-members apply for their Credit Union membership, they can simultaneously submit a loan application―making the online process twice as nice for applicants and Credit Unions alike. 

Sharetec’s Online Member Services application allows your existing members to apply for loans, shares, share drafts and even certificates of deposit online with ease. They simply sign into their home banking site and apply for their loan and/or share products of choice. And because non-members can apply for their membership, loans and share accounts concurrently, your staff and your potential members will both save valuable time. Once applications are completed, they are immediately sent to a loan officer or member services representative for review. Since the Sharetec application is online, loan officers and member services representatives will not have to re-key any of the information, which saves more time. 

With Sharetec’s unique customization capabilities, you can choose the look and feel of your online application page to set it apart from other sites. Your staff can select which products to feature for your applicants’ consideration, as well as how much information will be required through the application process. 

By taking advantage of the benefits and capabilities of Sharetec’s Apply Online feature, your Credit Union will have the potential to capture a larger share of the loan and the membership market—how’s that for double duty?

Contact Lori Tuyo today to learn more!

Sharetec Puts Your Members in the Driver’s Seat

Put Your Members in the Driver’s Seat

Members today want the ability to see all their information, anywhere they are. It’s time to move beyond the basics and find a Home & Mobile Banking provider that takes you to the next level.

Sharetec Home & Mobile Banking Allows Your Members to:

  • View Account Transaction History
  • Manage and pay 3rd party CC accounts
  • Set up eAlerts
  • Stop Payments
  • Lock/Unlock Debit Cards
  • Transfer funds between accounts

Includes Access to these Additional Products:

  • ProPay
  • Picture Pay
  • Flex Pay
  • Portal Pay
  • P2P payment tool
  • Loan applications
  • Bill Payment
  • RDC (Mobile only)

Home & Mobile Banking from Sharetec: The products your Credit Union needs – The features your Members expect.

Lasso Some Learning at the Sharetec Users Conference 2018

 

EDUCATIONAL OPPORTUNITIES WILL ABOUND AT THE 2018 CONFERENCE!

Education is always a primary focus at the annual Sharetec Users Conference and, once again, learning will be in the arena spotlight at this year’s event. Once you arrive at the September 17th-19th Conference in San Antonio, prepare to “lasso” some helpful information in the form of various Workshops, which are slated to include:

  • Card@Once will show attendees how debit cards can be printed hassle-free at their credit union.
  • Common Mistakes: A to Almost Z will address numerous common mistakes users make in Sharetec and provide helpful suggestions for each.
  • Dashboards (Advanced Level Workshop) will feature former credit union CEO and current Quality Analyst, Greg Rowlett, who will introduce attendees to dashboard reports and demonstrate how they can be used to document your financial position.
  • Go for a Spin with V10 will invite attendees to take a test drive on Sharetec Version 10.
  • Home Banking, Mobile Banking and Bankjoy will demonstrate how the new Home Banking interface allows members to have many services and functionality at their fingertips.
  • Loan Form Mapping will provide an overview on how this new Sharetec add-on product lets users update and map loan forms with the click of a mouse.
  • Loans: From Application to Disbursement and the Errors In-Between will examine the loan process and various errors that may cause staff to panic and prevent disbursal.
  • Menu Permissions and Security (Hands-On Lab) will provide users with an opportunity to learn and practice applying Sharetec’s menu permissions and security features.
  • Results for the Advanced User (Advanced Level Workshop) will instruct attendees on how to search by keywords, join tables, add calculations and much more.
  • Reversal Remedies for Sticky Situations will cover a variety of reversal situations and provide a best-practice approach for each.
  • 5300 Call Report Automation (Advanced Level Workshop) will review the setup of the 5300 Call Report and focus on creating the 5300 file, uploading it to the NCUA and more.

Competition is tough, which is why leveraging Sharetec’s user-friendly functionality and advanced features can help your credit union “wrestle” its competitors and be a champion in the industry! (Please note that sessions are subject to change.)

Sign up today for Sharetec Users Conference!  

Latest NCUA Warning: Be Sure Your Cyber Defenses are Ready

While news coverage has tapered off, the NCUA wants to make sure federally insured Credit Unions are doing everything possible to prevent and prepare for malware attacks like the WannaCry ransomware attack that affected more than 300,000 victims in 150+ countries.

“The reality is, it’s not a matter of ‘if’ your Credit Union is being targeted with this kind of attack,” said Brian Hoppe, Chief Technology Officer at Data Systems-Sharetec. “Several studies have shown that an average business is being targeted up to 60 times a day with phishing, malware, or ransomware attacks.”

Read the NCUA bulletin HERE.

To safeguard against cyber-attacks, Data Systems-Sharetec suggests the following steps:

  • The first line of defense against such attacks must be employee education. It’s important for network users to know the warning signs of cyber-attacks and how best to respond.
  • Install a Managed Firewall and a Managed Intrusion Prevention System. These IT security tools monitor and report – in real time – on all your network activity.
  • Carry out annual Network Penetration Testing to identify and resolve vulnerabilities before they can be exploited.
  • Set up redundant off-site data backup and disaster recovery tools.

For questions on IT Security tools or best practices for Credit Unions, call Data Systems-Sharetec today.

Check 21 Teller & Branch Capture from Sharetec

Increase Teller efficiency and reduce back office clerical time with Check 21 Teller & Branch Capture from Sharetec

Check 21 from Sharetec has decreased our proofing and processing time by 75%. We should have done this a long time ago.
“Moving to electronic presentment to the Fed has decreased our proofing and processing time by 75%. We should have done this a long time ago.”

Electronic Check Capture
With the financial industry moving to electronic clearing of check items, your credit union needs a cost-effective option to scan, store and transmit your daily deposits. Sharetec’s Check 21 solution increases check entry accuracy, reduces data entry time, and integrates fully with Sharetec.

Check 21 Teller Capture
Checks deposited into member accounts are scanned in seconds. Simply place checks in the hopper, click the scan button, and the Check 21 system automatically:

  • Creates an electronic image of each check (front and back)
  • Records the amount of each check
  • Provides a deposit total
  • Adds scanned checks to your end of day electronic file

Any checks not properly scanned are displayed for the teller to review and correct. Once corrections are complete, the teller simply selects the account for deposit to complete the transaction.

Check 21 Branch Capture
For credit unions that prefer single end of day batch processing, Sharetec provides Branch Capture. With this tool, tellers scan all checks received throughout the day in a single batch, then transmit the file directly to the Fed.
Simply place all the deposit checks in the scanner hopper and click the scan button, and the Check 21 system automatically:

  • Creates an electronic image of each check (front and back)
  • Adds the check amount to processing totals
  • Sends deposit total to the teller

Download the Check 21 info sheet here.

Credit Unions Seek Convenience – Simplicity

Credit Unions – and Members – Seek Convenience and Simplicity

Fierce competition, changing technology, increasing customer service expectations, and aging member demographics are just a few of the many challenges credit unions face. When addressing these challenges, it’s vital to lay a solid foundation by choosing the right core service provider.

Besides understanding the system’s features and functions, it’s important to ask the following kinds of questions when researching a core service provider:

* What is their background?
* Are they up on the latest technology?
* How long have they been around?
* Will they be around another 20 years from now?
* Do they know credit unions?
* Do they have tenured staff?
* Will your credit union be just another number to them or will they do what it takes to get to know you on a personal         level?

Technology That’s Easy To Use

Successful credit unions demand products and services that are at once powerful and easy to use. Your members are no different. They want to be able to do business and conduct financial transactions anytime, anyplace, with the shortest learning curve possible.

As a credit union, you rely on your core for the tools needed to handle day-to-day operations. You expect a simple interface that equips employees with the tools they need to engage and serve members.

A strong core helps you, the credit union, to meet member demands, retain members, and increase membership by providing the latest technology offerings like Home Banking, Mobile Banking, and, Picture Pay, and other e-Services. A strong core will help you anticipating and meet the needs of an increasingly demanding member base.

Is your current core helping you compete, thrive and grow?

 

Lori Tuyo
Marketing Specialist
800-245-7504

Follow us on LINKEDIN and Facebook.

Customer Support Makes A Difference

Customer Support Makes A Difference

How many times has a member stared you down while you listened helplessly to your core provider’s customer support line ring?  Tired of making excuses for something you can’t control?

With an average tenure of 13+ years, and several former credit union employees and executives, Sharetec understands the pressure you’re under to serve your members. 

Click on this link to read more about our management team.

Watch this short video to learn how Sharetec’s customer support team truly sets us apart!

Lori Tuyo
Marketing Specialist
800-245-7504

Follow us on LINKEDIN and Facebook.

Turning Challenges into Opportunites

2017 is full of Challenges – and Opportunities – for Credit Unions

If you’re feeling a little apprehensive about 2017, you’re not alone. The last year has been tumultuous, to say the least. Many credit union professionals, from the teller line to the CEO’s office, are waiting to see what challenges this year will hold.

What’s certain is that challenges will come. What’s left to be seen is how you will meet them. This article, and those to follow in the coming months, are meant to equip you with the knowledge and perspective to view some specific challenges – unique to the credit union industry – as possibilities to better serve your members and grow as an organization.

“Whether we want them or not, the New Year will bring new challenges; whether we seize them or not, the New Year will bring new opportunities.” – Michael Josephson

Challenge: Stagnant or declining membership among small- to mid-sized credit unions. While nation-wide CU membership increased modestly in 2016, many saw little to no growth for the same period.

Opportunity: Multiple customer groups are ripe for membership. One popular example to consider is millennials – but maybe not for the reason you think.

Though many millennials encountered a challenging job market after graduating from college, most are now doing well, ready to save, invest, and start families. However, warns Joel Windels at Social Media Week, “targeting Millennials is not an effective strategy if generating revenue is the only goal.”

Millennials just happen to prefer several things that, if implemented properly, are both beneficial to CUs and attractive to a broad swath of potential members.

* Relationship & Trustworthiness
Counter to what many believe, millennials desire close, face-to-face relationships with financial professionals, much like the banking relationships experienced by generations before them. Unlike the nation-wide mega-banks that now dominate our culture, the local Credit Union is seen as trustworthy and uniquely positioned to offer the personal, one-on-one experiences most potential members are now in search of. Focusing on marketing and customer service activities that foster relationships with your members can help you build and maintain a strong membership base.

What are you doing to insure that your members have a positive and convenient in-branch experience? How are you creating world class customer service?

* Communication & Responsiveness
While it’s easy to dismiss the myriad of apps, devices and social platforms used by millennials as mere entertainment, don’t miss out on the real need being expressed by their use: the need to communicate clearly and easily with others from anywhere, any time. Again, this is not a need unique to millennials.

While a strong social media presence is a big part of this, it is vital to have the tools in place your members want to manage their finances and communicate with credit union employees.

The technology necessary to provide this experience – mobile apps, remote deposit capture, home banking, etc. – is affordable and secure. Working with a core service provider who understands this and offers these products is more important than ever before.

Challenge: Growing cyber security threats to Credit Unions and members. Adding more and more online and networked services via APIs, along with the increased use of email and social media to communicate with members, means greater rick of cyber attacks to Credit Unions.

* According to a recent article in CU Times, four out of ten businesses don’t have the tools or knowledge to fight off cyber attacks.

* As reported in Small Business Trends in April 2016, Symantec study showed that 43% of cyber attacks target small businesses.

* The FBI believes this threat is so great that they released this special bulletin in September 2016.

Opportunity: Affordable, effective tools and methods are now available for CUs to provide a safe, secure cyber environment for members and employees.

An August 2016 article on NCUA.gov suggested Credit Unions implement some basic defenses against ransomware. While useful, we’ve gone one step further and put together some specific, concrete steps your Credit Union can take to protect you and your members:

* Hold monthly cyber security updates for all employees. Teach them how to recognize threats in email, on social networks and web sites.
“Even with the strongest cyber security defenses available, if someone downloads a document containing a virus or clicks on a malicious link, all bets are off,” said Brian Hoppe, Chief Technology Officer of Data Systems of Texas – Sharetec. “A credit union’s first line of defense must be continual education of the people who use the network.”

* Employ a comprehensive suite of preventative security tools:
– Managed firewall – like the locks on the doors at your Credit Union, your firewall is the most basic level of network security, and determines what ports on your network are open to internet traffic. A managed firewall is continually updated to prevent known security threats.
– Intrusion Protection Service – your network’s ‘security cameras’, an IPS actively scans your network for anyone attempting to exploit known vulnerabilities.
– OpenDNS – The strongest level of cyber security available, protects your users’ network activity, wherever and whenever they access your network.
– Penetration Testing – the practice of testing a computer system or network (via a secure, highly structured, professional hacking attempt) to identify and address security vulnerabilities before malicious parties exploit them.

* Backup all data using a secure, off-site service.
While many Credit Unions back up data – both financial and operational – to offsite locations, most of these solutions remain susceptible cyber attacks because they remain connected to the home network.

When asked to recommend a secure offsite backup tool, Hoppe replied: “We work closely with Datto. Unlike other offsite or cloud-based backup solutions, Datto protects against threats like viruses and ransomware that can be easily spread through file syncing. They’re a central part of any business continuity or disaster recovery plan.”

For more information on how Sharetec can help your Credit Union serve customers better, increase profitability, and turn challenges into opportunities, call 800-245-7504.

 

Lori Tuyo
Marketing Specialist
800-245-7504

Follow us on LINKEDIN and Facebook.