RICHARDSON, Texas–Institution Solutions has introduced “Maintain,” powered by Driven Analytics, which is designed to help credit unions establish and build a long term, deep connections with their members by solving an ongoing problem.
Specifically, the new offering helps consumers to track maintenance on their vehicles, including through a personal device.
As consumers and car buyers increasingly move to the small-screen in making their buying and loan decisions, the task of getting their attention can seem daunting. But Stephen Soroosh, co-Founder and CEO of Edmond, Okla.-based Driven Analytics, said that this shift doesn’t have to be overwhelming. In response, the company has developed the Maintain mobile application.
“When we first started developing Maintain over two years ago, our focus was to look at a the most frustrating user experiences around vehicle ownership and build a product that would turn frustration into a delightful experience,” said Soroosh. “The most compelling user experience we kept seeing was how frustrating it can be to keep up with maintenance on your brand-new vehicle. Why does it have to be so hard? We set out to totally change that experience.”
According to ISI, for CU members purchasing and financing a new vehicle, keeping up with the factory-recommended maintenance requirements can be challenging, and even more frustrating is not knowing in advance what the recommended maintenance will cost each time the member brings their vehicle in for service.
“With Maintain, which can be branded with the credit union’s logo and introduced to members during the vehicle financing process and as part of the benefit of financing with the credit union, these questions are answered and members are provided with that Amazon-like vehicle ownership experience they have become accustomed to receiving,” said Institution Solutions. “In addition to maintenance information, Maintain includes a service provider search feature, allowing members to find and select partner service providers, earn rewards and even add hardware to automatically track vehicle mileage or keep track of a keychain. Finally, Maintain includes a fuel finder feature to help members find the cheapest gas and even does the math to let the member know the cost of a full tank of gas for their specific vehicle.”
A Favorite Feature
“With the Fuel Finder, we find that it isn’t uncommon to see a $5-$20 savings on a fill up just by driving a little farther down the road,” said Soroosh. “This has become one of our users’ favorite features.”
ISI reported another benefit is that participating credit unions also have access to their own campaign manager, which allows them to build their own marketing campaigns and push them in to the mobile application of their members. Campaigns could include information on new programs that may benefit the member, such as a special mortgage or auto loan rate, the company said. The credit union can also use the rewards program in Maintain to create incentives for their members, such as referring a new member.
“nother dynamic benefit is that participating credit unions also have access to their own campaign manager, which allows them to build their own marketing campaigns and push them in to the mobile application of their members,” said. Greg Hagan, SVP, Institution Solution.
Campaigns could include information on new programs that may benefit the member, such as a special mortgage or auto loan rate, the company said. The credit union can also use the rewards program in Maintain to create incentives for their members, such as referring a new member.
For info: www.isillc.com, or contact Greg Hagan at ghagan@isillc.com.