The key to success in providing exceptional member services is the anticipation of their needs. Realizing what services will improve their financial lives before they do. Thanks to advancements in credit union core technology, you do not need to be a data scientist in order to do so. The visual data is there to assess and assist your members. Your credit union software should allow MSRs a 360° view of members so they can easily offer credit union member services that exceed expectations.
Learning from Non-Credit Union Examples
A prime example of customer anticipation can be seen with Apple. Each new iPhone release includes features that users didn’t know they wanted but quickly become essential.
- Apple Earbuds: Initially, we didn't realize how convenient volume control on the headphone wire would be.
- Apple AirPods: Wireless Bluetooth earbuds became a must-have despite initial skepticism.
Applying These Principles to Credit Union Member Services
Implementing similar anticipation in credit union services starts with ensuring member data is easily accessible. MSRs should not have to navigate multiple screens or log into different applications to view a member's accounts and activity.
Key Benefits:
- Seamless Visibility: Allows MSRs to quickly assess a member's financial situation.
- Automatic Cross-Selling Notifications: Recommends new services that the member has not been offered or does not currently use.
For example, if an MSR sees a high balance on a credit card, they could suggest the member consider a Home Equity Line of Credit with a lower interest rate. Or, If given the correct visibility, in that short MSR/member encounter, your MSR could recognize a higher than average balance in a savings account and suggest an investment into CDs or mutual funds.
This simple suggestion ultimately pays off for both parties. Cross-selling features typically have built-in incentive tracking so not good deed goes unnoticed. It's a win-win. The more information your reps have at the ready, the better they will be prepared to serve each member's specific needs.
Access Your Data in a Whole New Way with FLEX
The ability to see member information readily is such a basic requirement of a core, yet so many credit unions still struggle with old technology that requires multiple logins and time-consuming navigation between screens. Face-time is limited in modern banking, so it's imperative to capture every moment you have with a member and capitalize on it.
With today’s financial products more increasingly viewed as commodities, it's the accessibility to the member and the information available to the MSR at that brief time that can determine whether you get the business or if it goes somewhere else. Offering assistance when your member doesn't even expect it is guaranteed to exceed expectations.
