Advancing to What’s Next for Banks: A Recap

The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your own advisors with questions regarding the digital progression content herein. The opinions expressed in this article are the opinions of the individual authors and may not reflect the opinions of MeridianLink, Inc.

In today's evolving financial landscape, staying ahead of trends, technology, and customer expectations is essential to stay competitive.

Sound like a tall order? Actually, it's easier than you think - with the right strategy and technology partners in place!

In a recent webinar, Broadway Bank's SVP of Consumer Real Estate, Lynn Yznaga, shared insights on banks' digital progression journey. We explored how banks can prepare for the future and implement solutions to future-proof their operations. Read on to learn more or watch the full webinar here.

Digital Progression Is Vital, But Institutions Are Still Lagging

Less than 50% of financial institutions planning to select new or replacement digital consumer loan origination or digital consumer account opening systems proceeded to move forward with those changes.

This poses a challenge for traditional institutions: how to embrace digital shifts, manage balance sheet pressures, and outpace competitors.

A Journey, Not a Destination

Meeting this challenge requires a flexible approach that can weather rapid changes. That's why MeridianLink^® developed a Digital Progression Model focused on iterative optimization rather than a singular endpoint.

Digital progression is a journey, not a destination, as solutions and customer demands evolve. The Digital Progression Model empowers banks to adapt, drive growth, deepen customer relationships, boost efficiency, and reduce risk.

Measuring progress across five primary areas of success - customer experience, share-of-wallet growth, process automation, instant decisioning, and data centricity - our expert team works with you at each stage of your bank's growth to ensure optimization and tailored solutions designed with your goals in mind.

Broadway Bank's Success Story

Broadway Bank partnered with MeridianLink to overhaul its antiquated mortgage and consumer lending systems, which involved disjointed processes, from application bottlenecks to manual workflows, that slowed timelines and hampered growth.

MeridianLink technology, known for its user-friendly interface and advanced automations, helps streamline applications and enhance the customer experience.

But that's just the beginning: the solutions have also unified the lending processes, minimized redundancies, and sped up application-to-funding timelines. Watch the full webinar to learn more about Broadway Bank's digital progression journey and see how MeridianLink can help your institution craft a future-proof operation.

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