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Synergent’s Annual Connect User Conference drew over 140 attendees to Maine for networking and presentations that covered the latest in marketing, payments, and fintech, tailored exclusively to Synergent user credit unions. This year’s conference kicked off with a Casco Bay cruise and lobster bake the evening before, launching into an informative day of presentations by guest speakers and subject-matter experts.
Our Mission is Your Mission
Todd Mason, President/CEO of Synergent, opened his remarks with a quote from former President John F. Kennedy said in 1962 regarding travel to the moon:
“We choose to go to the moon. We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one which we intend to win.”
Mason related the quote to the credit unions’ mission to uplift the financial lives of their members, and how this is not easy, achieved quickly, or on one’s own. Years of work were put in, culminating in landing on the moon. As a partner, Synergent is by the side of credit unions day in and day out, helping complete the mission we share.
“Our mission is your mission,” shared Mason. “We have the same aspirations you do, which is taking care of your members.”
Mason reitirated Synergent’s official mission statement: to help credit unions succeed and improve the financial lives of their members. He shared that Synergent’s leadership team recently discussed and analyzed this mission statement in a planning session, questioning what exactly it means to help credit unions succeed.
From social mission to growth, five areas were identified:
- Service
- Better Prices (and better rates than our competition)
- Convenience
- Innovation
- Experience
Keynote Presentation: The State of Everything – And What It Means for Credit Unions
“In practical terms, I’m a meta-analyst,” shared Lee Wetherington, Director of Strategic Insight for Jack Henry & Associates. “You may not run into many of those. I analyze the analysts that analyze the industry.”
Wetherington covered a lot of ground during his keynote presentation, providing clear and thought-provoking insights on the state of digital, payments, data, and the future of credit unions. He kept the audience engaged and laughing while imparting valuable information that debunked some common “hype” in the industry.
In breaking down “The State of Everything,” Wetherington stressed the importance of credit unions maintaining a balanced presence both in-branch and in the digital space, and shared many insightful statistics that impact how credit unions are perceived by consumers, including:
- Only 16% of Americans use a credit union as their primary financial institution.
- Two out of every five non-members think they can’t join a credit union.
- Three out of every five non-members think credit unions don’t offer mortgages.
- 55% of Americans believe credit unions don’t offer mobile/online banking.
- 61% of Americans believe credit unions care more about their members than banks do.
Digital Banking Panel Discussion
Connect User Conference digital banking panel.
While Synergent has been a long-time partner of digital banking providers Access Softek and Alogent, new partnerships were forged in 2019 with Alkami and Banno. These strategic partnerships were made as a result of the due diligence research conducted by Synergent’s omnichannel team, keeping a focus on features and development capabilities, and an eye on being able to provide the best solutions to meet the unique needs of each credit union.
A Q&A moderated by Scott Johnsen, Synergent SVP of Operations, was held with a panel of digital banking experts representing each of the providers:
- Access Softek: Jim Rinehart, Chief Financial Officer
- Alkami: Sharilyn Phillips, Product Manager
- Alogent: Michael Muncie, Vice President – Sales Engineering
- Banno: Lee Wetherington (for Kristie Peterson, Banno Digital Solution Specialist.)
In addition to answering questions through this educational, informative, and collaborative format, attendees also had the opportunity to connect with these vendors directly during lunch and breaks throughout the day.
Connecting Through Product Innovation
Attendees also were treated to a Star Wars™-styled scroll listing credit union feedback and problem statements that Synergent addressed in the past year.
In 2018, Synergent created its official Product Development team that strategizes, develops, and delivers the products and services designed to assist credit unions in improving their members’ financial lives. From developing the product, driving the delivery process, and stewarding the product portfolio, the team provided detailed updates on many exciting initiatives. Over 160 opportunities were identified last year by the product team, resulting in five themes for the roadmap ahead:
- Connect – Communication and collaboration, internally at Synergent, between Synergent and credit unions, and between credit unions and their members.
- Flow – Workflow and process enhancement internally at Synergent, in-branch, and for credit unions’ back-office functions.
- Smart – Leverage data, analytics, machine learning, or artificial intelligence, for new capabilities in making decisions.
- Extend – New offerings that enable Synergent and credit unions to break new ground.
- Direct – Products and services that impact the credit union minimally, but offer significant value to members.
The Synergent team: Tyler Hudson, Assistant Vice President of Development; Todd Mason, President/CEO; Jeff Will, Product Owner for Technology; Doug MacDonald, Vice President of Marketing Services; , Ben Jordan, Senior Vice President of Information Technology; and Rebekah Higgins, Product Owner – Payments.
The Synergent team shared with attendees the problems solved throughout 2018-2019, then looked to the future on what is to come in the next year and beyond for Payments, Marketing, Infrastructure, and Technology.
Connect User Conference attendees were the first to hear about the launch of Synergent’s newest product, Synergent Tablet. Jeff Will, Synergent’s Product Owner for Technology, shared that Synergent Tablet was developed in response to feedback received from credit unions.
We’ve been listening to you,” said Will. “You’ve been telling us a lot about the challenges you face, the opportunities that you miss, not being able to service your members, and not being able to go to where your members are. And, even if you can go meet them where they are, you can’t take Episys with you, can you? It becomes really difficult. Members want that contact.”
Synergent Tablet enables credit union staff to conduct transactions with members while on-the-go. This modern, direct interface to a credit union’s Symitar® Episys® core can be used anytime, anywhere, without the need for extensive training. Using Synergent Tablet, credit union staff can capture loan and membership applications, perform transactions, and access account information.
Synergent Tablet currently is completing its first pilot with a credit union. Tentatively, it will be available to credit unions starting in October 2019.
The Synergent Difference
The Connect User Conference is one more way that Synergent serves its credit union users. Finding the right partner to manage integrations, software solutions, conduct system maintenance, and to keep credit unions informed of the latest innovations helps credit unions remain competitive and agile in the financial services space. Synergent takes a holistic approach to meet these challenges, providing strategic consultation, support, and education as the premier managed services provider. This complimentary event for Synergent users fostered in-person interactions, networking, and provided valuable information and insights to assist credit unions with their day-to-day operations.