By Gary Lee, Chief Client Officer
Credit unions are unique financial institutions deeply rooted in their people-helping-people philosophy. In an age where technological advancements drive financial operations, aligning a credit union’s mission with technological innovation is paramount. MDT (Member Driven Technologies) is a testament to this alignment, confirmed by our recognition as the Finopotamus 2023 Tech CUSO of the Year.
The award, while satisfying, isn’t just a testament to excellence but a reflection of a deeply ingrained philosophy based on four foundational pillars: service, security, people, and growth.
Pillars Shaping MDT’s Journey:
Service:
Since MDT’s inception 20 years ago, delivering top-tier service has been the backbone of our success. It begins with unparalleled client support, reflected by a 97% client retention rate. It also embodies the deeply ingrained philosophy of MDT and a forward-thinking — and available C-Suite. Promptly addressing and solving client issues while ensuring C-level executives are always accessible differentiates MDT.
Security:
In an era of escalating cybersecurity threats, MDT isn’t just a provider of financial technology services — we safeguard them with top-tier security. It includes taking a proactive stance when threats occur and notifying clients ahead of potential problems. This approach is a testament to our established guardrails and the ability to respond and address concerns swiftly. It also enables our credit union partners to rest easy, knowing that MDT is a true extension of their credit union.
People:
The partnerships we’ve forged with our clients are the backbone of operations, establishing us as a force within the credit union technology space. As we emphasize the needs of our internal team, employee retention paints a clear picture: our company isn’t merely a ‘great place’ to work but a nurturing environment where everyone flourishes. Since 2003, our turnover rate has been 3.42% — lower than the industry standard of 4.23%. Our clients, vendors, and partners, like Jack Henry & Associates, with whom we share an instrumental relationship, also play pivotal roles. The synergy is displayed through this recent partnership expansion.
Growth:
While many see growth as the primary objective, MDT views it as the result of achieving our other foundational pillars — and can only be achieved after realizing these core objectives. Providing secure solutions, expanding our consulting engagements, and ensuring stakeholders have a voice exemplifies our forward-thinking approach. Client-focused service, bolstering security, and fostering a community of dedicated individuals all drive growth.
Jack Henry: A Crucial Synergy
Our partnership with Jack Henry & Associates is pivotal, driven by a shared vision for financial technology excellence. These collaborative efforts prove that innovative solutions can position credit unions at the forefront of the industry. The robust Symitar platform, a Jack Henry solution, is fundamental to our portfolio. As MDT’s offerings rise above the competition, they’re surrounded by a ring of security upheld by the dedicated people of MDT.
More collaboration is evident within the Jack Henry digital platform, Banno. As a result, we’re empowered to support more credit unions in their technological journeys, ensuring they can provide members with modern, efficient, and secure services.
A Vision for the Future
As the financial technology landscape continues to evolve, we’re committed to remain hyper-focused on service in the evolving digital landscape. We’re an extension of our clients, ensuring solutions are technologically sound and tailored to each client’s unique needs.
As MDT continues to evolve, one thing that will remain a constant and will not change is our commitment to service. In the months to come, the industry can anticipate seeing new solutions and an expansion of our digital presence. As we expand our offerings, we will continue to march forward with service as our #1 strategic driver.
A Message to Remember:
Industry recognition is satisfying, but we must remember our client commitment — impacting past, present, and future endeavors. For credit union clients and industry leaders, MDT is an example of blending tradition with innovation, people with technology, and service with growth. This core belief will undoubtedly steer MDT towards many more milestones in the years to come.
About MDT:
MDT was founded in 2003 by seven credit unions seeking a more efficient, cost-effective solution for data processing. Today, the CUSO has grown to serve 117 credit unions nationwide, representing over 2 million total end members and/or $29 billion in total assets. Because credit unions started the company for credit unions, MDT has always had a unique understanding of the industry and the daily demands and challenges credit unions face.