MeridianLink Powers Enhanced Member Experience for Space Coast Credit Union with Advanced Decisioning Capabilities
April 10 2024 - 9:05AM
Business Wire
Florida’s third-largest credit union leverages
streamlined decisioning and customizations for personalized banking
experiences
MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern
software platforms for financial institutions and consumer
reporting agencies, today announced Space Coast Credit Union (SCCU)
successfully implemented capabilities by adding MeridianLink’s
Advanced Decisioning module, a cutting-edge solution designed to
augment automated decisioning through increased flexibility and
customization.
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MeridianLink has worked with SCCU for nearly a decade to support
its ongoing digital maturity initiatives. The credit union
leverages MeridianLink® Consumer, MeridianLink® Opening,
MeridianLink® Portal, MeridianLink® Consulting, and MeridianLink®
Insight to streamline its lending and account opening processes,
providing better overall member experiences. MeridianLink
Consumer’s Advanced Decisioning module, part of the MeridianLink®
One unified platform, allows the credit union to address several
critical challenges in its lending processes, primarily related to
improving application decisioning and member response times.
“Having a trusted partner in MeridianLink to support our
members’ banking needs is crucial in today’s economic climate,”
said Daniel J. Chiappone, senior vice president of lending at Space
Coast Credit Union. “The fact that we can enhance the unified
platform with additional offerings when we need them means we are
always finding new ways to deliver better efficiency and innovative
solutions to our members.”
The implementation of MeridianLink Consumer’s Advanced
Decisioning capabilities proved advantageous for the credit union,
as it resulted in a streamlined process and a 12.5% increase in
instant decisioning from their previous performance, and a 14.1%
increase in instant decisioning for credit tiers over 660. For
those same credit tiers, after implementing Advanced Decisioning,
SCCU is instantly approving 52.5% of all applications.
Consistent decision-making enhanced member confidence and
improved the credit union’s competitiveness in indirect loan
opportunities. Advanced Decisioning's robust automation tools
enabled SCCU to avoid hiring additional staff, positioning itself
for long-term growth and agility. This strategic initiative aligns
with the credit union’s focus on digital transformation, promoting
self-serve efficiency and central lending while reducing reliance
on branches.
“We’re thrilled to partner with SCCU and provide innovative
solutions like Advanced Decisioning that support the institution on
its digital progression journey,” said Devesh Khare, Chief Product
Officer at MeridianLink. “We’re proud to help create a more
efficient way for SCCU to provide members with access to the
lending products they need to meet their unique financial
goals.”
SCCU’s members now experience faster decisioning times, reduced
friction across the application process, and timely follow-up with
relevant documentation and support resources.
For more information about MeridianLink’s innovative solutions,
visit the Company’s website.
ABOUT MERIDIANLINK
MeridianLink® (NYSE: MLNK) empowers financial institutions and
consumer reporting agencies to drive efficient growth.
MeridianLink’s cloud-based digital lending, account opening,
background screening, and data verification solutions leverage
shared intelligence from a unified data platform, MeridianLink®
One, to enable customers of all sizes to identify growth
opportunities, effectively scale up, and support compliance
efforts, all while powering an enhanced experience for staff and
consumers alike.
For more than 25 years, MeridianLink has prioritized the
democratization of lending for consumers, businesses, and
communities. Learn more at www.meridianlink.com.
ABOUT SPACE COAST CREDIT UNION
Space Coast Credit Union (SCCU) is state chartered with
headquarters in Melbourne, Fla. since 1951. With over $9 billion in
assets, SCCU serves more than 650,000 members in 34 counties, with
65 branches along Florida’s east coast. The Credit Union offers
competitive rates on auto and home loans and credit cards as well
as free checking and savings accounts. SCCU provides a service
delivery network featuring nationwide ATMs, member service call
centers, 24/7 online access and secure mobile banking. The Credit
Union is committed to providing comprehensive financial protection
to its members with cost-effective, convenient products and
services. SCCU creates value in cooperative ownership through
honest people, trusted products and time valued. For more
information, visit SCCU.com.
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Becky Frost (714) 784-5839 media@meridianlink.com
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