Maintaining loyal members with mobile
When it comes to investing in mobile, credit unions need to consider what type of technology consumers engage with as a whole. Identifying how consumers interact with their favorite mobile applications can provide insight on how credit unions can create similar experiences and ensure consistency for their members. Consumer expectations are evolving and products have to meet the needs of members. There are various factors that drive mobile investments for credit unions in order to maintain loyal members.
Credit unions should view mobile banking as an opportunity to take a dreadful member experience, such as what may occur in an instance of fraud, and create a delightful one. Mobile devices should not only provide basic self-service functions, such as the ability to view transaction history and schedule payments, but also to provide another avenue for members to solve problems.
As a CUSO, PSCU offers an Alerts and Controls solution that can reduce fraud losses by setting alerts for spending limits and merchant transactions. Fraud alerts continue to be the most popular type of alert, used by 55% of mobile phone owners1. By providing members with robust in-app features, they can easily report suspicious transactions that do not belong to them on their mobile device. Doing so gives the member the capability to solve the issue without having to physically go into a branch or make an inconvenient phone call. Additionally, if a member loses a card, he/she can report that loss and request a new one directly on a mobile device.
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