FinTech Magazine October 2020 | Page 136

Digital is essential .

Are you ?

Today , digital is playing a bigger role than ever in how you support your members . Onboarding , banking , lending , and engaging with your account holders — digital has untapped potential to reinvent your members ’ experiences .
It ’ s time for digital to do more — to meet new challenges and deliver necessities when your members need them most — to live up to its potential and help you realize yours .
Learn more at Q2 . com .
of the crisis ,” he explains . “ With that human-centric approach in mind , we developed a 0 % APR personal loan for up to $ 5,000 over a 12-month term that was offered to any of our members in need . At the same time , we ensured that , even though we had to roll this out quickly to help those in need , it was an entirely digital process . Because of our previous digital transformation efforts , this meant very little operational work and leveraging the same infrastructure as we do for our other consumer loans . In turn , that created familiarity and simplicity for members and employees . At the same time , we created various digital processes , supporting over $ 79m in residential mortgage forbearances , over $ 150m in commercial mortgage forbearances , 19,280 consumer loan skip-a-payments , $ 15m in SBA PPP loans , and almost $ 2m in 0 % emergency loans . “ The digital transformation efforts we have in place have served us really well . Even some of the ad hoc decisions we made along the way about how we set up remote working capabilities for
OCTOBER 2020