Strategies

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SynergentStrategies
Behind the Delivery:
Researching the best value-added solutions to meet your members’ needs
Synergent has your credit union’s
back when it comes to releasing
new technology—researched and
tested. According to Ben Jordan,
Vice President of Technology
Services, our model for introduction
of new products and services is
unique for the industry—our staff
learns the new service inside and out
before a new offering is released.
Jordan explains how we go about the
research to create success in delivery
of new services.
What is Synergent’s approach
to researching and developing
technology services for credit
unions?
Jordan: “Researching new technology
sounds like a simple review of
hardware, software and network
infrastructure. The truth is, it’s far from
simple. Providing technology as a
service requires that our staff research
the finer points of technology—
like the software development
methodology, the vendors used by
that software developer and industry
trends. These finer points are critical
to our approach, but Synergent
doesn’t stop there. “Our strategic approach results in
a complete understanding of the
specific business needs of the credit
unions we serve. We examine the
problem that needs to be solved,
the opportunities that may exist
and the efficiencies that can be
gained. We review both the current
products and services that we offer
as well as those that are available
from our third-party partners, and
investigate new solutions in the
marketplace. With this review
complete, we bring only the highest
value options to our credit union users
for consideration.”
How does Synergent’s model for
third-party research benefit credit
unions?
Jordan: “Synergent’s approach
saves credit unions time and money
by bringing the best solutions in
the industry to their doorstep for
consideration. The credit unions know
that these solutions have already been
reviewed for the detailed challenges
of integration to the full-service
offering provided by Synergent. As
such, they know that these third-party
products will be integrated with fewer
challenges and on tighter timelines
than could otherwise be expected, a
major plus for credit union employees
and members alike.”
What is different about Synergent’s
approach to technology services
compared to other vendors?
Jordan: “Simply put, Synergent is
looking for the best value-driven
solution available. Value can be
realized in many different ways—
price, integration, compatibility
and usability are
all very important
to us. However,
we also spend
considerable
time researching
service
reputation, longterm support
Ben Jordan
and the business VP, Technology Services
strategy of our
partners. This helps us identify the
best approach to implementing
solutions that stand the test of time
and provide the credit unions we
serve with innovative yet stable
technology. A continuing trend
for new signings and renewals is
the 10-year contract, with a large
majority opting for this long-term
agreement. We know that when a
contract lasts for such a long period
of time, selecting the correct strategy
can be as important as selecting the
correct solution.
What kinds of precautions are taken
before releasing a new product or
service to credit unions?
Jordan: “Many precautions are taken
during the due diligence process to find
the best product and service. Whether
it is a new product never before used
by a credit union or a new release of
a current product, Synergent takes care
to go step by step, researching
Continued on page 2
Innovative Data Mining
Behind the
Delivery
Continued from page 1
thoroughly before moving
its focus to testing and
validation. Integration into other
technologies and business
processes is critical to ensuring
that the new or updated product
improves service to members.” How much time and research
goes into developing a new
product or service?
Jordan: “Product and service
selection and testing is
something that takes significant
time, and we gladly invest that
time. Additionally, it’s worth it
to invest the time and energy
when the outcomes are products
that work together to seamlessly
deliver solutions to members.
Not every product or service
considered makes the grade,
and it is this painstaking process
that helps shield credit unions
and members from solutions
that may not be the best fit.”
Synergent makes connecting with credit union members exciting with a plethora of
member data available in core processing to take advantage of. For example, your
next campaign can target specific demographic regions, zip codes, age ranges,
membership status, current products and services, etc. When sifted through and
boiled down into smaller categories, these pieces of information give you the
opportunity to market products and services to a targeted group of people.
“But now there is an additional way to data-mine deeper. ACH transactions, or
Automatic Clearing House transactions are a relatively new way to pull data for
direct marketing campaigns,” said John Laverriere, Senior Programmer/Analyst.
“Transactions like an automatically withdrawn loan payment can be tracked,”
he said. “This means we can now determine when members have automatic
transactions to pay car dealers, banks, or mortgage brokers.”
Through target marketing, member data enables you to offer to your members
additional products and services—like an opportunity to refinance with your credit
union for a better rate. “Through the many layers of complex data, the end product
is a list of names and addresses,” explained Sally Witham, Synergent Data Mining
Specialist. “If a data pool is too large for a mailing list, the data can be further
refined by adding additional criteria.”
To bring your credit union to the next level, Witham suggests using this type of data
mining to better understand members. It creates an opportunity to “make a plan
and execute campaigns on a quarterly or annual basis by modifying search criteria
to certain types of ACH transactions,” she said.
Synergent has a high regard for member’s privacy, so this detailed data can be
withheld from messaging. Members will not be mailed or emailed when they’ve
asked not to be, and targeting techniques allow credit unions to identify members
they prefer to not target.
Contact Direct Marketing Services at [email protected] to
discuss a fall loan promotion and see how you can leverage member data for your
next marketing investment.
Training Tailored for Your Credit Union
Having a staff that is confident in their use of Episys is important not only in achieving
efficiency, but also in increasing member relations. At Synergent, we offer a variety of
convenient and concise webinars that enable you to get the information you need to
keep up with today’s changing technology, and then get on with your day. For more
complex topics, our instructor-led hands-on sessions conducted at the Credit Union
Service Center enable your staff to learn by doing.
“Our sessions are succinct and to the point. Credit unions can be assured that we’ll deliver the important content clearly and concisely and not waste their time,” said
Kathy Newman, Education and Communications Coordinator at Synergent.
A new benefit of the webinars offered by Technology Services is that they are
recorded. As long as you have registered for the webinar, you will receive a link to
the replay of the webinar that can then be shared with anyone in your credit union—
with an unlimited number of views.
From these dynamic training sessions, credit union staff can expect to learn new
skills that can be put to use immediately. Newman added, “It is always gratifying to
know that our training sessions are making a difference to credit unions and helping
them in their day-to-day activities.”
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Synergent Expands for Future Growth
The new additional Operations Center has been designed and constructed to serve
as an expandable base of operations for our growing organization to support our
current staffing and recovery site needs. The Data Center at a second location in
Maine will initially serve as a recovery site for the systems for our Westbrook Data
Center and as providing ground for new data center technology. The infrastructure
is built to support full activation of all Synergent systems in a disaster, and the
Data Center itself is designed for future expansion and the ability to become a live
production site when needed.
ADDITIONAL OPERATIONS CENTER
WHY OUR GROWTH IMPACTS YOUR GROWTH
CONTINUITY
SECURITY
Our two operational centers
will work together but are
independent of each other.
Your business, data and
members are more secure
with our new dual operations
business model.
CAPABILITY
DIVERSITY
All Synergent products and
services will have increased
capability with failover
to the second site.
We will diversify our staff
to have two fully
functioning and fully staffed
operational centers.
EMV Chip Card Update
Synergent Card Services’ debit
card processor and business
partner, Fiserv, and our plastics
provider, Shoreline Business
Solutions, Inc. recently began
the process of certifying our first
beta Visa debit credit union. Concurrently, Fiserv began
discussions with Visa about this
initial pilot issuer. As this initial
certification
is being
conducted,
we will be
building
a queue of implementations
in order to develop a rollout
schedule. We are hopeful
that subsequent certifications
behind this initial project will be
much quicker than the initially
anticipated 6-9 month time
period, and our staff will know
more as this process moves
forward.
Synergent Card Services is
moving ahead with a simplified,
compliant strategy that the
majority of debit card issuers are
choosing to go with for initial
EMV Chip Card implementation:
• Payment Method – Contact
• Card Authentication – Online
• Cardholder Verification –
Signature/Online PIN, NO CVM
• Transaction Authorization –
Online
Synergent’s Technology Services will be hosting its 2014 Technology
Workshop in December. The workshop will be held December 2 in
Marlborough, MA, and December 3 in Bangor, ME. The theme “Waves
of Change, Oceans of Opportunity” reflects the exciting prospects for
technology on the horizon and what it means to credit unions of all sizes.
Watch for more information.
Industry-wide this simplified,
standard approach is being
taken to get EMV Chip
technology in place as quickly
as possible for security benefits/
compliance protection with the
resources available. For EMV proposal information,
please contact Sherry
Cavallaro, Card Services
Manager, at scavallaro@
synergentcorp.com.
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News Briefs
Mobile Deposit Capture
Welcome to Our New Credit
Union Partners
Synergent has partnered with Ensenta to
offer a mobile deposit capture product
that is integrated into Access Softek
mobile banking. This solution provides
real-time posting via a Shared Branching
transaction, allowing funds to be
deposited immediately!
Meridia Community CU, a 6,419 member, $55,320,546 (in assets)
credit union, located in Hamburg and Eden, New York, successfully
completed their conversion to the Symitar Episys Core Processing
Solution, Synergent Electronic Check Collection and Share Draft
Processing Services, and ATM/Debit Card Processing. The credit union
also implemented Access Softek Mobile Banking, Jwaala Better Online
Banking, Opening Act and Statement Processing.
Shared Branching Multi-Channel
Direct Marketing Services
Heritage Valley FCU
Synergent has provided our credit union
partners with Shared Branching for over a
decade. Make sure your members know all
the different ways to find a shared branch
near them or as they travel.
• Online: http://co-opcreditunions.org/
locator/
• Call 1-888-SITE-CO-OP
(888-748-3266) to find a location
by telephone
• Live help: 888-837-6500 for live personal assistance
Access Softek Mobile Banking
Southcoast Health System FCU
Jwaala Better Online Banking
Mobile Deposit Capture
Acadia FCU
Southcoast Health System FCU
Coast Line CU One CU
Maine Education CU
New Dimensions FCU
We are also proud to announce the following 10-year renewal
agreements of our Episys core processing users.
Casco FCU
Coast Line CU