Credit unions should bank on chat

Members live on chat apps to communicate with friends and family. Is your credit union on their contact lists?

The pandemic has driven more consumers than ever to bank by mobile app, and seven in 10 would use a chat app for banking if their bank offered it, a new study shows.

WhatsApp, Facebook Messenger and Apple Business Chat are widely used by consumers to talk to friends and family. The study, conducted by Dimensional Research in partnership with mobile and chat commerce leader Clickatell, found that half of U.S. consumers have already used such chat apps to talk to businesses, too.

The research underscores that consumers love chat—and they’d like to do more banking on their favorite chat apps, too.

A New CX Battleground

While the survey dealt with bank customers, the results portend big opportunities for credit unions to harness the power of chat apps to keep and retain members and compete with larger FIs, as well as to boost the customer experience in a world forever changed by COVID-19.


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