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The U.S. financial services industry is standing at an IT crossroads-one that will greatly impact its ability to grow its business, satisfy customers, manage risk and cope with an increasingly challenging regulatory landscape.
Credit unions of all sizes have realized the benefits of offering online Account-to-Account Transfers, including increased incoming funds, greater member loyalty, and reduced staffing demands.
Credit unions and banks offering Account-to-Account (A2A) transfers on their websites have experienced an increase in balances and member retention.
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Account to Account transfers (A2A) is emerging as a priority in
more and more credit unions because it is an offering designed to
strategically position the credit union as the central account in
the e-member's diverse FSP relationships. Before adding A2A to your
portfolio of services though, there are a variety of issues that
you should consider. In a recent Callahan
& Associates Webinar exploring the operational aspects of
A2A, Kelli Schultz, Vice President of Information Technology at
iPay, detailed some of the primary considerations a credit union
should explore before implementation. These include: