insights from e-scan - credit union national association€¦ · © 2018 credit union national...

© 2018 Credit Union National Association. All rights reserved.

Insights from E-Scan


Two Trends

• Deliver an easy, engaging consumer experience.

• Modernize your branch strategy.


Deliver an easy, engaging consumer experience.


Consumers on Experience


Easy Does It


The Importance of Experience


What We Think About Experiences


What They Think About Experiences


MT – More Mobile, Less Branch

• Transactions told the story.

•Mobile marketing; mobile lending.

• Increase e-engaged.

•Members understand rationale; they caused it.

•Convenience, investments, profits back to members.


A Walk Through a Journey


What Processes Have You Mapped?


Common Experiences to Map

• Auto Loan – In-House

• Indirect Auto Loan

• Consumer Loan; Credit Card

• Mortgage; HELOC

• Business Loan; Credit Card

• New Membership

• New Checking, Savings, CD

• Investment; Insurance

• Teller Transaction

• Drive-Through Lane

• ATM; Kiosk; Touch Screen

• Contact Center

• CU Website; CU Mobile App

• CU Bill Pay; CU Financial Ed

• Digital Marketing: Click, Look, and Book


Common Members to Map

• College students; Gen Z.

• Millennials.

• First time auto purchase.

• First time home purchase.

• Two-income family.

• Stay-at-home parent.

• Single parent.

• Retired members.

• Single professional.

• Business owner.

• Business manager.

• Tech-savvy.

• Tech-cautious.

• Digital native.

• Distant member; out-of-region.


Experience Drives Results


Experiences Drive Word of Mouth


CA – Share the Love and $

• Email as many as you want with a web form.

• CU sends email with a promo code.

• Checking, loans, VISA, CDs, youth savings.

• $50 to you and friend.

• Referrals and WOM are driving growth.


Focus on Functional Values First


TX – POPin Video Banking

• Interactive, face-to-face mobile.

•Anywhere, anything, exception is cash.

•Reach members, moment of need, branchless experience.

• Exciting experience; connected to CU.

•Video presence training.


Strategic Questions – Experience

• How easy is it for members to engage with your CU?

• What member processes have you mapped?

• Are you designing your experiences around members’ functional values?


Modernize your branch strategy.


First Touch Success


KS – Branches Can Set You Apart

• MXP is the primary differentiator.

• Blend digital and branching strategies.

• Branches are for connection, engagement, presence.

• Define the branch purpose: advisory over transaction.

• Lending out of the branch; to e-loans team.


OR – Branches Drive Loyalty

• Focus on loyalty drives strategic growth (4X growth in 10 years).

• NPS; speed of delivery.

• Human help drives service satisfaction.

• ITMs; central staffing; extended hours; ATMs.

• “You can talk to us, but you don’t have to.”

• 61% prefer live video; 28% drive up; 11% walk in.


WY – Location, Location, Location

• Postcard in the community.

• Traffic studies.

• Physical room for growth; is the community growing?

• The right side of town.

• Quiet rooms; pods; logos; mission.

• Get the compliments.


TX – Neighborhood Branch

• Smaller footprint; high tech; more locations.

•Members like tech, but want to touch the CU.

•60% of walk-in traffic is assisted electronically.

•Optimize costs, FTE, service, efficiencies.

•Much member demand.


Strategic Questions – Branches

• Have you defined the purpose of your branches? Relationships, experiences, connection, engagement?

• Are your branches equipped with the right mix of technology and people?

• Are you measuring the effectiveness and ease of branch delivery?


Two Trends

• Deliver an easy, engaging consumer experience.

• Modernize your branch strategy.


Jeff Rendel, Certified Speaking Professional

[email protected]

www.jeffrendel.com

951.340.3770

insights from e-scan - credit union national association€¦ · © 2018 credit union national...

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