By: Brian McNutt, VP, Product and Strategy
Lumin Digital’s recently published white paper, Bringing Human Interactions to Digital Banking, was developed in response to the increasing need to find new ways of engaging with today’s hyper-connected, digitally savvy consumers.
The paper brings to light answers to some of the most pressing questions for financial institutions currently: How can digital interactions be tailored to member interests? In what ways can warmth and hospitality be added to a digital interface? How can digital and offline channels work together to strengthen the member experience while avoiding redundancy?
While the Lumin Digital white paper is available for download, below are four at-a-glance solutions from the findings that can help you heighten member engagement while staying digitally competitive.
- Focus on your members’ needs and goals. It’s easy to focus on the transactional nature of your online banking functions, but at a time when face-to-face interaction is dwindling across all industries, it’s vital that you incorporate emotional aspects of engagement into your credit union’s online banking platform. Video chat is a great tool for accomplishing this, as it reinforces the credit union philosophy of “people helping people,” and gives your members the opportunity to have productive conversation with a person they can relate to.
- Adopt streamlined onboarding. When it comes to your credit union’s strategy for first impressions, your digital banking platform should not be excluded. It’s as important that new members are introduced to your online banking in an easy and practical way, as it is that they receive any traditional welcome packages. Use creative elements and simple, conversational language to guide them in getting started, and you’re sure to strengthen both engagement and first impressions.
- Make feature discovery an ongoing process. Feature discovery is the act of teaching your members about the value of your products and solutions, and the premise here is that you are never done “activating” your members. While the best time for members to learn about the value of your products and services is when they are new, you’ll retain loyalty and competitiveness by finding ways to make feature discovery an ongoing process. The key to ongoing feature discovery is a digital banking product that can “learn” about each of your members, and adapt in how it presents them with new features, services, and products that are highly personalized and relevant.
- Create humanized interactions. Beyond actual interaction with a human, human-like interactions are a critical component of any digital banking platform. Think of services like Siri or Alexa – those that bake human representation into their help mechanisms. They use conversational language and easy-to-use functionality to build meaningful, useful and insightful engagements with consumers. You can do the same thing at your credit union by mimicking the natural progression of human conversation within your online banking platform; this includes both in the written messaging and in the digital functionality.
As we progress into the future, credit unions must evolve alongside competitors and leverage new technologies that incorporate human likeness. Download the complete white paper today, and discover more of the newly disclosed strategies for personalizing your members’ experiences on uniquely digital platforms.