MAP Newsletter - Winter 2024 - Flipbook - Page 2
MAP welcomes 11 credit unions, grows more than 23.5 %
Member Access Processing (MAP) welcomed 11 new credit unions to its
client roster in 2023. Citing best-in-class service and product offerings,
the credit unions are eager to join the fast-growing Credit Union Service
Organization (CUSO). MAP achieved double-digit growth again in 2023,
with a year-over-year growth rate of 23.5 percent.
“We are excited to welcome this unique and diverse group of credit
unions to MAP,” said Steve Bone, MAP’s President and CEO. “In joining
MAP, credit unions gain a one-of-a-kind experience to help them realize
peak of cardholder usage, loyalty and efficiency within the first year.”
Transactions grew at a robust 14.8 percent in 2023. With this year’s
results, the company continues to record annual growth year-overyear. MAP benchmarks its transaction volume to Visa. Visa’s processed
transactions grew six percent during its Fiscal Year 2023.
“Again, MAP finished the year in a strong position,” said Jeff Sims, MAP’s
Chief Financial Officer. “MAP’s healthy growth parallels our strong
financial condition. We are well positioned to scale competitively while
providing the best-inclass service we are
known for.”
MAP’s growth matches
the overall health of
the credit union industry as credit unions’
growth continues to
outpace the growth
MAP Headquarters, 450 Alaskan Way S, Seattle, WA
rate of the U.S. population. Over the past decade, credit unions have seen growing popularity
among younger generations attracted to lower fees and greater community connection and commitment.
An important part of the industry’s growth has been the ability of MAP
to give its credit union customers and members access to premium
credit and debit card benefits. Increasingly, customers’ connection to
their cards is the strongest link to a credit union or bank.
MAP Training 2.0
Continued from page 1
“Onboarding can feel like an overwhelming amount of information. Knowing
where and how the training corresponds to the whole system is invaluable
when there are so many other things a CU is trying to manage at that time.”
With the adoption of the Searchie
Platform, MAP has created
individual Training Hubs for clients
to integrate, absorb, and digest the
information as part of a process
instead of just a one-time training.
Searchie’s advanced platform
leverages artificial intelligence
and machine learning to analyze,
transcribe, and index audio and
video content.
In addition to the Searchie platform, MAP Training is in the process of building out a Learning Management System, which will offer greater interactivity
in the training process, along with the ability for users to test their knowledge and for MAP to better measure the training effectiveness.
Amy Frazier, Director of Training
MAP’s trainers organize the video content in Searchie, which is then machine transcribed and made searchable for clients to easily locate specific
topics by keyword.
“Whether you sat in on the training or not, you don’t want to spend an hour
2
watching a video if you only need a particular bit of information.” said Frazier.
“Using the transcript and keyword search, the Searchie tool will take you
right to the moment in the video you need. It’s also a great resource for
supporting new employees or as an overall refresher training.”
As part of MAP’s training program, MAP also organizes Users Groups. In addition to the Risk Services Manager (RSM) Users Group, the training team is
in the process of forming users groups for Visa Data Manager and Disputes.
Users groups are an important resource for several purposes, including
gathering feedback and fostering a sense of community among users.
Building on the growing sense of community, the training team is also
looking to host New Client Forums in 2024. “We are excited to offer a
learning environment for our clients,” said Frazier, “a community where they
can learn with each other and further strengthen that sense of learning
amongst our credit unions.”