How to turn your website into a personalization treasure trove
Traditionally, banking websites are just online brochures; they're not where the real banking happens. If a web visitor doesn't reach a digital application, they didn't really want the service. New institution-fintech partnerships are showing that's wrong, and not just a little bit, by a factor of three times in some cases.
Did you know a website visitor using Edge, Microsoft’s browser, is eight times more likely to convert on a CD than someone on Firefox? Or, that Firefox visitors are 10 times more likely to apply for a base checking or savings account than for a CD?
Neither did Visions Federal Credit Union three years ago, but today it’s using a host of similar data to drive much higher applications for membership and loans online.
Beginning in 2020, leaders at Endwell, N.Y.-based Visions noticed a change happening in the organization’s interactions with members. Branches had been the dominant meeting place, but as the pandemic years went on digital channels grew to handle about 50% of member interactions. Before they had handled only 26%.
Face-to-face visits were the institution’s best means to serve members through staff listening and responding to their needs. Digital channels, on the other hand, the website in particular, needed to become more human. It could not listen to people’s needs nor respond in a way that came close to simulating the branch experience.
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