LAKE MARY, Fla.—As CUs rush to offer members the latest technology they must be careful in 2016 not to overlook the human element of service, cautions one analyst.
“Technological advancements, especially in banking, have grown exponentially over the past couple of decades,” noted Stan Cowan, senior solutions marketing manager at D+H. “Executive teams, with extensive IT involvement, have sometimes found themselves in panic mode, suddenly making decisions about technology solutions without adequate, timely information.”
Cowan said that often arises from a feeling of not being able to “keep up with the Jones’ solutions,” simply making moves to mimic the latest consumer banking functionality in all delivery channels, both digital and traditional.
Omni-Channel Experience
Like many experts have been advocating, Cowan emphasized the importance of the consistent, omni-channel, service delivery experience. But he said trying to create this member experience becomes challenging when only attacking it from a technological perspective.
“Just because everything’s digitally focused now doesn’t mean your members have stopped—or will stop—using your call center and traditional branch channels,” said Cowan. “Instead, integrating them to a consistent, yet somewhat individually different member experience is key. And, keep in mind, balancing high-tech and high-touch experiences—branches and call centers, for example—is key within an omni-channel environment.”
Cowan said the effort starts with people.
“Don’t forget about the caring, communicating and educating aspects of member service,” he said. “Make sure that within every delivery channel that members are experiencing true service. Is it what you would expect or want from your financial institution?”
When integrating service elements, Cowan said to think “core and more,” with an end-to-end technology solution platform that delivers utmost flexibility.
Stan Cowan, D+H
Outside of the tech issues, Cowan said CUs must ask themselves some difficult questions if they are going to deliver a true omni-channel experience and compete.
“How are we differentiating ourselves in our marketplace? What tools do our employees really need to perform their best? Is it a great place to work? If your employees aren’t happy and loyal, how can you expect your members to be? Do your members look to you first for all of their financial needs? Have you asked them lately?” said Cowan.
Board Buy-In
Once the CU has dug deep to find the answers, it can begin the process of building the technology platform that best coordinates internal performance with external engagement.
Cowan added that the entire process won’t work unless every top executive is on board and focused on the same goals.
“Working in an environment of silos slows down the process, creates confusion and hinders effective decision making,” he said. “The board of directors must first trust the CEO and the senior leadership team. When everyone has the same vision, moving forward in selecting the right core and integrated solutions becomes more easily focused on solving problems and exploring opportunities, instead of on internal, territorial battles.”