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CST: 14/11/2019 07:32:03   

LSInextGen Helps Digitally Transform Historic, Community-Focused Credit Union

31 Days ago

Company’s commitment to diversity enables Richmond Heritage Federal Credit Union to create a better customer experience and more modern, secure approach to banking

ATLANTA, Oct. 13, 2019 (GLOBE NEWSWIRE) -- Digitally transform or die. The edict has been issued time and time again, with an urgency that should shake most businesses to their core. But knowing the facts and acting on them are two very different things. For some, that gap is seemingly impossible to bridge. Richmond Heritage Federal Credit Union found themselves staring into that abyss — until LSInextGen helped them  make that first critical push to sustain their digital future.

Created during the Great Depression in 1936 by 10 African-American educators, the Richmond, Virginia-based credit union is dedicated to supporting urban communities traditionally denied access to financial resources. It is the last remaining African American-founded financial institution in Richmond.

However, due to the rapid pace of digital transformation and the limitations of Richmond Heritage’s original charter, they have not been able to fully evolve with the times. The credit union is facing the need for technology upgrades that will cost more than $100,000. As a small credit union with only about $6.5 million in total assets, technology upgrades are a huge expense.

“Gaining the new functionalities and improved data management capabilities seemed impossible,” said Richmond Heritage President and CEO Randy Cooper.

Then LSInextGen entered the picture, thanks to Theresa Harrison, director of inclusive and sustainable procurement at EY, who helped build the connection between Richmond Heritage and LSInextGen.

“When we became aware of Richmond Heritage’s commitment to their community and to diversity, we were adamant about getting involved in this transformation project,” said Al Limaye, president of LSInextGen.

LSInextGen is performing the work pro bono — creating a responsive mobile website, improved application forms, adding a funding feature, and the ability to verify identification among other things. They built a more responsive interface while providing more online security and convenience for Richmond Heritage’s members.

“We simply wouldn’t have the online capabilities we have now without the dedicated work of LSInextGen and EY’s commitment to supplier diversity,” Cooper said. “They recognized the importance of supporting a historically black organization with nearly 100 years of history and are truly helping us enter the modern digital age. We can again compete with community banks and credit unions that are expanding their reach into the once government-protected base we serve.”

The launch of the new site and completion of Phase 2 was completed in less than a month, a very aggressive timeline reflecting the development team’s expertise and strong commitment to success.

“Transformation is incredibly complex, and many companies struggle with where to begin, let alone how to possibly implement it,” Limaye said. “For companies like this, it’s a near-impossible feat. With our experience on this project, we’ll now be able to create turnkey packages that other credit unions can leverage in the future — for their own digital transformation.”

About LSInextGen:
LSInextGen is a leading IT solutions and services provider founded in 1993 as Logistics Solutions Inc. The company leverages deep business technology expertise to provide and support innovative solutions for a diverse customer portfolio that includes Fortune 500 companies as well as many other large and mid-size enterprises. As an SAP and Oracle Gold Partner and largest minority business enterprise value-added reseller in North America, LSInextGen serves a variety of industries through refined methodologies and dedicated diversity and inclusion principles. Learn more at LSInextGen.com.

MEDIA CONTACT: 
Lynette Bohanan 813-727-0196
lbohanan@commcentric.com

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