ATLANTA—Credit unions, more so than banks, are turning to tablets to drive deeper relationships and attract new accounts, according to one branch experience design firm that is offering some lessons in the correct and incorrect ways to leverage the technology.
The issue of better deploying technology to get additional market share in 2015 is critical, and is being examined by CUToday.info as part of a year-long series titled “100 Million Members: Now What?”
Gina Bleedorn, executive director at Adrenaline, a sister company of the Chesterfield, Mo.-based Newground, said credit unions are employing tablets faster than banks because the institutions are smaller and decisions come faster.
“We have seen an explosion of tablet use and new tablet apps to aid CUs in selling services to members and potential members,” said Bleedorn, adding that tablets are being used in the hands of staff and also as standalone tools.
“Tablets are enabling sales conversations and replacing branch collateral materials that are often ignored, thrown away or not used,” said Bleedorn. “The devices create a heightened level of selling.”
More credit unions are stepping up their sales efforts, said Bleedorn, “because they know they are stealing away customers from big banks and realize the importance turning these new members into profitable accounts.”
Bleedorn feels that credit unions are gravitating to tablets because they deliver a “friendly sales approach” that allows users at their leisure to navigate through a great deal of information to find what fits their needs.
When used with a staff member, who stands side-by-side with the member to review information on the tablet, the devices create a more personal experience than talking to a teller over a counter who stares at a computer screen, said Bleedorn.
As a standalone tool, a key is providing the right kinds of interaction that allows the user to find the products that fits their needs. “Interactive quizzes work well, along with interactive tools, like mortgage calculators,” explained Bleedorn.
Credit unions and banks are moving away from simply setting tablets out in the lobbies without placing a great deal of thought behind their usage. “That was an issue at first,” said Bleedorn. “A number financial institutions began putting out tablets because they saw other banks and credit unions doing that. It was technology for the sake of technology. Maybe they would show their website on the tablet, maybe their mobile app…They thought that was helpful. It was not.”
When using tablets correctly, a credit union is delivering an “orchestrated process around solution finding” for the member. And a big advantage with the tablet, emphasized Bleedorn, is users can take immediate action when they find a product that suits them. “They can send an e-mail to the credit union asking for more information. They can reply directly to an offer, and they can even enroll on the spot.”
Tablets can also help the credit union more effectively offer expanded services, such as insurance. With credit unions not always able to have the insurance expert onsite or available, general staff are often left to answer members’ insurance questions.
“That can be a clunky process, telling the member to wait for an answer or to wait for an appointment with the insurance expert,” said Bleedorn. “Tablets can provide detailed insurance information, and they can also serve as an educational tool for employees, who can browse the insurance information in their spare time.”
Banks and credit unions get the most out of tablets when they double as digital signage propped up and displayed in high-traffic areas. “Have tablets playing messages when they are not being used. Use motion graphics to promote checking accounts or mobile banking,” Bleedorn advised.
The best spots for tablets are the entry zone or welcome area—“almost like a greeter”—and in areas of high dwell time, said Bleedorn. “Some credit unions place the tablets on high-top tables next to teller lines. That even allows a teller to step from behind the counter and work with the member who is looking at the tablet—take the tablet and go to a private area.”
Bleedorn warned that video walls should not be used much for member interaction. “Save that for tablets. Who wants to stand and punch up information about their financial needs on a big video screen? That is not private and not very convenient. Tablets start conversations, video walls can stop them.”
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