We all want to integrate, but how? You could easily spend 95 percent of your work hours in 2015 ruminating on this question. Or, if you would rather start moving your credit union in the direction of seamless, satisfying, member-impressing integration now, here are six tools that will help you provide an integrated experience to your members:
1. Sprig by CO-OP
Sprig is the little app that can. What can it do? Basic mobile banking, remote deposit capture and P2P payments. Also, shared branching transactions – so your members can make their loan payments at one credit union with funds from another. In-network P2P payments also happen in real time: Members no longer have the disorienting experience of waiting anxiously for sent money to go through.
The Sprig experience is becoming more integrated for credit unions as well, with the soon-to-come release of a white label Sprig you can brand yourself, and a standalone API to integrate into your existing apps. Also look for real-time, pay-anyone P2P.
Simply put, Sprig helps members integrate disparate pieces of their financial lives, whether they need to transact between accounts at two institutions or settle accounts with friends over a dinner bill.
2. CardNav by CO-OP
In a 2014 study by Mercator Advisory Group, 41 percent of credit card users and 40 percent of debit card users indicated they’d like mobile card controls and alerts. Considering this product hasn’t launched in earnest anywhere yet in financial services, that’s quite a reception.
Here’s one spin: Consumers continue to worry over card security but have relatively few tools for managing it themselves. CardNav gives them control, using technology that’s already integrated into their lives. Concerned about online security? Only activate online purchases when you’re ready to make one. Anxious about overspending? Set a spending limit.
Did you realize, as your suitcase disappeared down the conveyor belt, that your card was missing and might or might not be in your bag? Turn the card off with your phone as you walk to your plane. That’s integration.
No, call centers are not new technology. But if new technology begets integration, it also begets member questions. Technical difficulties. Thoughts about the loan application being filled out online in the middle of the night. Waiting to make contact is the opposite of integrated: It’s disrupted.
Rewards are most rewarding when members can use them effortlessly. Coming soon to CO-OP, a mobile rewards app that enables members to access and use their rewards wherever they go – for instance, shopping.
5. CO-OP ATM
Sometimes being there means literally being there. For those times, nothing puts you in the right place at the right time like a vast network of ATMs. Recent news that ATM fees are on the rise has put surcharge-free ATMs back in the spotlight. Meanwhile, advancements in ATM technology make the user experience more integrated. For example, NextGen ATM by CO-OP brings a shared branching experience to the ATM – giving members the ability to transact between accounts at different credit unions and help themselves to a wide variety of transaction options.
6. CO-OP Locators
New definition of panic: You are five miles from your unfamiliar destination and your smartphone battery goes dead. Finding your way has a different meaning in integrated America: Get on track with locator apps that help your members find you or the nearest CO-OP ATM or Shared Branch location, wherever they are. Batteries sold separately.