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.
The best, and often cited, example for this type of customer anticipation is Apple. Each version of the iPhone includes features and functionalities that people didn't even know they wanted, but end up camping out to get before everyone else. It doesn't take long for those features to become a standard part of consumer expectations. The Apple earbud is a great example of this. We didn't know we wanted volume control on our headphone wire. However, now we realize that it's an extremely convenient way to adjust the volume without reaching in our pocket. Push that one step further to the Apple AirPods, wireless Bluetooth earbuds, which many consumers initially balked at but are now growing in popularity.
To do this in the realm of credit union member services is simple... ensure member data is easily accessible. MSRs shouldn't have to navigate to other screens or log into separate applications in order to see a member's accounts and activity. This ease of visibility allows MSRs to quickly assess the member's financial situation and possible needs. Automatic cross selling notifications can also make recommendations for 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.
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. Facetime 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.
