As finance technology continues to experience dynamic growth, credit unions are strategically responding to gain a strategic advantage. As such, more and more credit unions are investing in their own digital transformation, and now provide more features and benefits that deliver value to their members.
How can technology benefit your credit union members?
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- Improving Member Experience
Why do consumers choose to work with a credit union? Often, it’s because of the unique user experience that includes personalized service and local decision making. A credit union can adopt the latest technological products and services to improve this experience even further. The more you streamline your processes, the more time can be spent providing that personal “extra mile” of service to your customers. This translates to happier members as wells a more productive staff.
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- Cybersecurity & Protecting Members
These days, consumers are privy to the dangers of cyber threats and are proactively searching for financial institutions that can protect them. Credit unions must make an active effort to secure and manage their data and to provide a safer banking experience. For example, the Heiden team builds complete Credit Union cybersecurity policies for our clients in the financial sector which address the full spectrum of information security (i.e. things that go well beyond firewalls and spam filters!)
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- Easy Money Management
We don’t need to tell you that the internet has drastically changed the consumer banking experience. Online money management has become fast and simple, and now most credit union members expect ease-of-use.
Consumers are looking for financial institutions that have secure and reliable digital services with little or no downtime. They typically also want 24/7 tech support. Credit unions are delivering on these expectations, providing apps and online portals that can meet the modern individual’s banking needs.
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- Better Products and Services
Credit unions are leading the way in financial technology by investing in mobile and online innovation, and they are constantly seeking means to enhance the banking experience for their members. They recognize that it’s difficult for technological laggards to be competitive in 2020.
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- Great Insights and Intelligence
All of this technology doesn’t just benefit your members. Thanks to all of these portals and apps, you’re now able to see more information about consumer behavior than ever before. Since members appreciate a credit union that understands their needs, the deep insights available through technology are invaluable.
Credit unions can now create personalized experiences and make the right offers at the perfect time (thanks to marketing intelligence and AI) that lead to great success and strong customer retention.
Are you ready to get the most out of your technology? Heiden Technology Solutions has been helping credit unions maximize their technology ROI for nearly three decades. Learn more by clicking here or call us at 800.979.9413.