"Every day were saying, 'How can we keep this customer happy?' How can we get ahead in innovation by doing this, because if we don't, somebody else will." Bill Gates
The factors on which you base your technology decisions this year should be no different than in other years. If your decisions are based on member-centric design, ease of use, efficiency and cost-justification, they will yield the correct results: keeping more money where it belongs – in your members account.
Here are 7 things to consider:
1. Software is more effective—and your employees more efficient—when tightly integrated.
The reality in many institutions is associates may wear several hats during the day. When these associates move from one functional work area to another, your software systems should look and feel consistent to improve productivity, as well as your associates' ability to satisfy member's questions in any channel.
2. e-Signatures are rapidly becoming common practice.
Utilizing e-sign across multiple applications puts your credit union in step with member expectations. The technology minimizes storage requirements and allows quick access to signatures when a question arises. Plus e-sign devices allow your credit union to present promotions on the screen when not being used for signatures.
3. e-Documents cut costs and improve productivity.
Many imaging systems today are stand-alone 3rd party applications. This is an area that really benefits from tight integration. Often e-Docs are created when opening a new deposit account or when processing a loan. Integrating e-docs from all channels into a single system allows MSRs to better respond to member request for a document, loan form, title or other related item. With tight integration they can easily retrieve, reprint and/or email the document to the member.
4. MRM or Member Contact Management?
For credit unions that can't justify the cost of a full MRM application, consider an integrated member contact application. A “tickler” system that logs and tracks member questions and requests can keep them from slipping through the cracks.
5. Self Service is a complement to Member Service.
When a member needs to talk to a service rep there is no substitute for the human touch. But when the member just wants to get it done, self-service kiosks, integrated home banking, single sign-on and secure access to history, transactions, billpay, loan applications, secure forms, stop payments and secure email can help simplify your member's life.
6. Use your website to grow potential members
Signing up potential members on-line is a must and should integrate with MCIF and lending so you don't have to re-enter data.
7. Whether Baby Boomer or Gen Y – members want timely account information.
Using email and/or text message alerts to let your member know when a check has cleared or their balance has dropped below a certain level can deliver high value to the member. Going one step further, mobile banking allows the member to react to this information and conduct business from anywhere in the world.
Discover what a tightly integrated system can do for your members.
Forget the status quo, tight integration between functional work areas in today's newer designed systems deliver a high level of service to your members, while decreasing you operation overhead!