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The Difference Is in the Details: Enhancing the Member Experience

Credit Unions Then and Now

When I joined my first credit union almost thirty years ago, the member experience looked a lot different than it does today. Member service was limited to business hours — with the exception of Thursdays, when the credit union was open until 8:00 p.m. so members could deposit their paychecks. Online banking, mobile deposits, digital signatures, online loan applications with automated decisioning, and any number of other technological advancements were still many years away.

As I enter my 32nd year as a member of a credit union, and my 21st year working in the credit union space, it is truly amazing to look at how technology has enhanced the member experience as well as the expectations of the individual member.

State National Old Technology Desk Setup 50 YearsAs it has in credit unions and in every industry, technology has certainly had a big impact at State National. As we approach our 50th anniversary as a company and take a look back at our beginnings, it’s funny to think that we used to transcribe insurance information onto 4” x 6” notecards and store them in filing cabinets.

Or that each notice had to be typed out before it was mailed to the borrower.

Or that the only way to get a borrower’s insurance information was via postal mail from the insurance carrier or client.

Today, almost every task we perform for our business partners and their borrowers is completed with the help of technology, and every new innovation we come up with is created with one goal in mind: to enhance the member experience.



Utilizing Today’s Technology to Enhance the Member Experience

At State National, we understand how our products can be viewed as detracting from the member experience as opposed to safeguarding the collateral and protecting the institution. This is why, as the industry leader in collateral protection, we are constantly looking for ways to prove that belief wrong by minimizing borrower impact and enhancing the borrower experience. In the last few years, we have introduced some truly game-changing technological innovations, like WRAP, our Web-Based Robotic Automated Processing.



WRAP uses AI robots to search for and verify insurance information for borrowers online, instead of having people do it. We can now complete in a fraction of a second what used to be measured in minutes.

We are also utilizing artificial intelligence to pay claims — again, increasing efficiency while eliminating human error. This amazing InstaClaim technology allows us to pay certain claims in as little as 6 seconds instead of taking days to process as they did in the past.

Now, we are in the process of rolling out Intelligent Document Processing (IDP), which teaches computers to “read” insurance documents and update them to borrower loan records. And clients can also benefit from APIs we’ve created to facilitate additional automation by streamlining communication and connectivity between software applications.

While many of our program enhancements take place entirely behind the scenes, they all add up to more insurance being verified quicker and more accurately, thereby reducing notices going out to members.


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Tech Innovation in Borrower Communication

We also utilize emails and text messages to communicate with borrowers and gather their insurance information quickly and easily. While we still interact with borrowers using traditional methods of communication, these two avenues give us greater flexibility to communicate and successfully resolve the insurance issue in a way that works for them. The number of borrowers who respond by email and text has blown away even our lofty projections!

Borrower text for CPITo further enhance convenience for members, we will soon be rolling out a chat feature that will allow borrowers to get real-time help for all their questions — adding yet another channel to meet member needs.

But rest assured that even with all these advances in technology, members, as they always have, will still be able to quickly call our in-house call center for support from a live representative (whose ability to provide great service has also been transformed by behind-the-scenes technologies like VeriTrak and gamification) and receive the high-touch service we’ve always been known for. 


Make our interactive borrower text feature a part of your program at no added  cost to your financial institution!



Continuous Improvement Is Not Optional


Technological advances have come a very long way in a relatively short period of time. Whether you are a financial institution or a collateral protection provider, it’s not enough to just hang your shingle and say that you are open for business — you have to meet your customers at the intersection of convenience and technology. In this day and age, more often than not, that means that you have to be constantly innovating and enhancing your product, whatever it may be.

The game has changed significantly since I joined my first credit union. It’s anyone’s guess what the next thirty years will bring, but one thing seems certain: By then, what we are doing today to provide a positive member experience will probably be as antiquated as extended hours on Thursday nights are to us now.

Frank Oppedisano
Frank Oppedisano
Frank Oppedisano is Director of a Client Services team with more than 21 years of experience and positive results working in client service with banks and credit unions. He successfully coaches and trains a team of Client Executives to build strong business relationships and create strategic long-lasting partnerships

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How Much Money Can We Save You? 4 Questions to Find Out

Protecting your auto loan portfolio doesn’t need to cost your credit union, bank, or finance company as much money, time, and resources as it does today. With seamless implementation and a multitude of unique advantages in our service model, State National saves lenders money. Just how much? Let’s find out! 1. How many auto loans do you have in your portfolio and how much time per week does your staff spend on managing collateral protection in your current portfolio? Our program is built to free up your staff’s capacity and provide you with FTE savings. Our exclusive lender platform, InsurTrak, has every tool you need, including: Real-time data on borrower insurance status, notifications sent, account history, insurance documentation, and all borrower interactions Instant, on-demand access to all recorded borrower phone calls. 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Additionally, filing a claims payment has never been easier for your team. Our claims form comes pre-populated with data from InsurTrak. You don’t even have to decide which claim type you want to file — we automatically process each claim for ALL available coverages, regularly returning more dollars to you. Did I mention we have broader coverages that provide more value to the financial institution? Not only that, but we offer a borrower-centric coverage that allows your borrower to file a claim even if they are uninsured! “State National has saved us a truly significant amount of money.” ~ John Grimes, AVP of Collections, MAX Credit Union 3. If you have a CPI provider, what is your current CPI penetration? We reduce CPI penetration by 20-30% because of our proprietary AI tracking software, proactive verification methods, and our email and text programs. Our Web-Based Robotic Automated Processing (WRAP) software automatically extracts insurance information from insurer websites and updates it in InsurTrak — without any human effort or intervention. WRAP uses AI and machine learning to proactively search for new policy information from seven different carriers, including the country’s top five auto insurers, before ever notifying a borrower. Only if we can’t verify insurance through WRAP or our other proactive and behind-the-scenes verification methods do we reach out to the borrower via multiple channels, including email and text. Borrowers can easily respond through the channel they prefer — email, phone, or our borrower-facing portal. They can even send an image of their insurance information by text! 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For those who use Symitar Episys, State National has set up two-click direct connectivity, allowing all InsurTrak data to be accessed through your Episys system. Temenos and AKUVO users can easily connect to InsurTrak within their frameworks using the State National connector. “I just don’t think anybody else out there can compete with what State National has as far as the product, the technology and innovation, and how many things are automated.” ~ Corey Rupp, Chief Retail Officer, Affinity Plus Credit Union Switch Without a Glitch Once you decide to partner with State National, our dedicated Program Implementation Team is there to guide you all along the way and answer any questions you may have during any step as you onboard. “It was the best implementation I have done with any company. It was flawless.” ~ Joy Dominguez-Mota, Department Manager, Nationwide Acceptance Want to determine the actual savings your financial institution can achieve with these advantages? Let us know your answers to these questions and see how you can take advantage of these and other exclusive benefits. Sign up for an in-depth, customized consultation and program review today to see how much time and money we can save you!