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/   Spotlight

*Disclosure: is powered by Digital Insight Security has long been, and continues to be, a hot topic in the financial services industry. From new tech developments to hackers, security is top of mind...

Fast Facts: Student Loans

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/   Insights

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/   Spotlight

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/   Insights

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/   Spotlight

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/   Insights

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/   Insights

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Technology M&As: The Beats Go On

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/   Insights

The ongoing fascination with Apple’s $3 billion purchase of Beats Electronics is entirely understandable, because it’s a cool story. However, it also says a lot about what’s going on between finance and tech.

What We’re Reading

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/   Spotlight

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Financial Literacy Month: How are you celebrating?

March 22, 2013
/   Insights

With April approaching, it’s almost time to kick off Financial Literacy Month! Strongly supported by the United States Congress and the Financial Literacy and Education Commission, Financial Literacy Month aims to promote the importance...

One of the great benefits that technology brings financial institutions and consumers alike is the ability to streamline processes. We recently spoke with Paul Socia, President and CEO at Miramar Federal Credit Union to discuss how his credit union is using technology to do just this.

In a few sentences, can you tell us a bit more about Miramar Federal Credit Union?

Miramar Federal Credit Union is a full service credit union catering to the military based in Southern California. We are constantly reviewing processes to see where we can be better and evaluating new products and services to provide to our members. Of late, we have introduced faster online loan approvals, online account opening, enhanced mobile access and an automated Switch Kit.

Can you tell us a bit more about Miramar Federal Credit Union’s recent partnership with Roostify?

We were looking to streamline our lending process in order to provide a better experience to our customers and loan officers in order to balance an increased workload. Roostify’s platform is web-based and provides our loan officers the ability to collect important documents, keep all involved parties up to date in real-time, and as a result, loans are closed quicker.

In addition to Roostify, does Miramar FCU leverage any additional technology to enhance services?

In addition to Roostify, we have automated several existing services and have introduced new electronic services. We fully believe that being streamlined and/or automated allows our credit union to focus on our members.

How have technologies, such as Roostify, helped enhance member experience at Miramar FCU?

Roostify has been a great tool for us to streamline the mortgage process for our members, specifically those who may be travelling during the process, whether it be for military deployment or otherwise. Our loan officers and members are delighted with the whole process being simplified.

What can other financial institutions learn from how Miramar FCU has implemented technology throughout their business?

Technology is out there to make our jobs easier and to deliver a superior customer experience; it’s just a matter of doing your homework to find the right partner and taking the leap. In the end, the right technology investment is a good investment.

We plan to continue to implement technology as it not only makes our jobs easier, but it also allows us to focus on our core business of serving our members’ financial needs.

What technology or service will become the “must have” for financial institutions in 2015?

With mortgage rates dropping and credit standards eased, the number of loan applications coming in is going to require a streamlined process to handle the workload. Mortgage application technology solutions will help financial institutions take on this increase in their workload without having to hire more staff.

Want to hear more from Miramar FCU? Connect with them on Facebook , Twitter, and YouTube.

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James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Brad Strothkamp

Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.