The State of Content Management in Credit Unions 2014
Document and data management and security are of paramount importance to all financial institutions. But there are few benchmarks to help credit unions gauge how well they are managing information, especially in the context of technologies that continue to transform both internal and external environments.
Bluepoint Solutions’ annual enterprise content management (ECM) survey reveals that approximately 69% of credit unions currently rely on obsolete document imaging systems. This results in needlessly high costs, inferior member service, and weakened operating efficiency. The current survey examines past, current, and future trends in paper and paperless processes reported by credit unions of all sizes, and from both executive and technical perspectives.
Credit unions taking part in this study over the past three years have shown they understand the need to change how they create, use and store documents. And they are aware that their operational efficiency can either support or limit their ability to create new services and attract and keep members. Despite this, the rate of change is slow.
A few of the key findings in the current survey:
- Only 11.8% actually replaced their ECM systems in 2014, although 28% had planned or were considering change when asked in 2013.
- 66% want to give their members self-service access to documents online and via mobile channels.
- 72.8% of credit unions are looking at deploying iPads internally for back office use, and 56.3% are considering iPads for member-facing activities within the branches.
This infographic report is based on information collected in a credit union survey conducted by Bluepoint Solutions over an eight-week period in 2014.
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