Today, advanced technology exists to help equip MSRs with visibility into each member's financial profile, allowing them to quickly and easily see all the relationships a member has with an institution. Now instead of simply processing transactions, answering questions and resetting passwords, front-line software can be increasingly valuable to tellers and MSRs by using data to prompt them to offer specific products and services to meet members' needs. This includes notifications if a member is suitable for certain products, creating lists of members who are not actively using a service, and even composing scripts for employees to help make offers to members more effectively, whether they are physically in the branch, on the phone, exchanging emails or interacting via social media. According to The Financial Brand, in 2014, more than 50% of financial institutions surveyed indicated that 'Data Analytics, Big Data' are becoming essential in successfully cross-selling and meeting members' needs. Leveraging technology that provides this "on-demand" information enables tellers and MSRs to make informed decisions about what products could enhance a member's banking experience or best meet their needs.

Cross-selling lending products can prove to be extremely complex, especially as it relates to business loans, which are not as straightforward and simple to underwrite as consumer loans are. For many credit unions, handling business loans can be considered as much an art as a science. The arduous process of analyzing business credit requires an incredible volume of financial information and credit checks to be completed and is typically accompanied by a lengthy underwriting and approval process to look at a variety of indicators that can be slightly different for each credit decision. Often it is difficult to track down all the necessary information needed to make a credit decision due to manual processes and disparate software systems housing the information, prolonging credit decisions from being quickly and accurately made. To effectively cross-sell the appropriate loan products at the appropriate time in general, and member business loans in particular, automatic-decisioning tools are becoming increasingly valuable. They enable a credit union to automatically underwrite "the fries" (a business Visa card or line of credit, for example) in the moment after signing up for "the burger" (a large commercial real estate loan, for example), providing a fast decision or pre-approval.

SAFE Credit Union, a $2.1 billion credit union headquartered in Sacramento, Calif., has consistently made a commitment to embracing new technology to accommodate its members' changing needs and improve the overall member experience. The credit union recently made the decision to adopt a new commercial lending and CRM platform that includes an integration to an automatic decisioning tool in order to offer a more targeted suite of products and services for its members, specifically its growing number of business members. Among other benefits, SAFE hopes this new system will help it boost operational efficiency, enhance member relationships and lower underwriting costs.

Auto-decisioning can also help credit unions gain and retain business when used as a pre-approval method. It is critical for the institution to aggregate information to suggest products or services to members at the right time. For instance, think about a member who does not have a credit card. What if your teller handling a transaction for that member could tell the member that she has already been pre-approved with a specific credit limit, and completing the necessary paperwork would take them no additional time? Just e-sign the form and the transaction can be finalized. Take that one step further. A member who also has his or her business account with the credit union may be a good candidate for a $100,000 line of credit. Imagine saying to that member, we can have that LOC available for you today and at a tenth of the rate of an alternative lender.

In today's competitive market, cross-selling can make a huge difference to a credit union's bottom line. Credit unions that do not invest in tools to help them compete risk losing business to emerging alternative lenders that promise they can turn a business loan decision around in as little as one day. The CEO of an MBL CUSO recently said to me, "Those guys make a 14% small business loan feel good." Members can be swayed by a faster process at a much higher rate, either for convenience or to avoid the fear and uncertainty that comes with waiting for a credit union's decision. Despite more players entering the arena, credit unions are poised to become the lender of choice; most have the deposit volumes to support offering more competitive rates than any other type of lender. By accelerating the decisioning process and targeting the right products and services to members at the right time, credit unions can cement their competitive advantage, offering loans at better rates and getting money into borrowers' hands more quickly.

Imagine if you had to get your hamburger from McDonald's, fries from Burger King, and then drive over to Wendy's for dessert. If there was a single place that offered all of these items with speed, consistency and quality, why wouldn't you just stay there? This scenario is no different from the borrower who has to get his or her car loan from one institution, go elsewhere for a mortgage and then go to a third lender for a commercial real estate loan. There are advanced software tools available that can allow your credit union to be a borrowers' one-stop-shop, making the credit union more valuable and increasing member loyalty as members use more of your products and services.

Contrary to popular belief, cross-selling isn't simply target marketing to traditional member segments; there is a significant amount of due diligence involved for it to be most effective. Credit unions are fundamentally service-oriented. Rather than putting the burden on a member or potential member to do all of the due diligence in deciding what services they need, or targeting them with irrelevant products at inappropriate times, credit unions should take advantage of tools that add value to their member relationships while simultaneously increasing sales. With these tools in hand, your credit union will be serving more fries to more satisfied members in no time.

Ryal Tayloe is vice president, credit unions for nCino. He can be reached at 910-569-0012 or [email protected].