Engaging with members in the wild
Being where they are means having fantastic mobile delivery.
It wasn’t long ago that people would join the credit union closest to home because they wanted to keep their money local. While that sentiment hasn’t changed much, everything else about how we handle our money has changed, thanks to the acceleration of mobile banking, especially over the last year and a half of pandemic times. While many members still want that neighborhood experience with their local CU, their expectations have evolved with technology, and they want all the perks doing their banking right from their phone too.
“The key piece of digital banking is it has to be fully functional,” says Brian Scott, chief growth officer for CUESolutions provider PSCU based in St. Petersburg, Florida. “Can I do the vast majority of the things that I could or would potentially want to do in a branch? Can I do them virtually? Or can I do them through my mobile? That is a really critical piece.”
These days, it’s not just interest rates and service that keep customers coming back. Mobile banking also has taken center stage as one of the crucial elements of “stickiness,” aka loyalty building.
“[Customer loyalty] starts, is fostered and is multiplied through active engagement,” says Richard Crone, CEO of Crone Consulting, San Carlos, California. “The pandemic magnified the need for engaging with members in the wild—not at a branch, not at an ATM, not at a contact center—but where members are transacting.”
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