Engaging consumers wherever and whenever they want means engaging across multiple channels, including a full complement of digital and physical options. Realizing this potential isn’t easy. “Consumers want to transact in a multitude of ways: by phone; at an ATM or shared branch kiosk; inside a credit union branch; by PC, tablet or smartphone; or using an IVR system. Consumers demand payments anytime, any way they choose to suit any scenario,” says Dr. Kathy Herziger-Snider, senior vice president of Debit/Prepaid Shared Branch Product. Upgrading legacy channels with omnichannel features like the ability to conduct ATM transactions using a mobile phone helps credit unions make the leap into this new reality.
At the same time, delivering a true omnichannel payment experience isn’t just about adding or enhancing channels: “CO-OP is using the phrase ‘integration is innovation,’ to describe the challenge,” says Herziger-Snider. “As we expand our digital capabilities, we’re also ensuring that we make everything work together in a secure way and capture data from those transactions, so credit unions can be smarter and use that information to improve member engagement across all aspects of their relationship. Data is the key to personalizing the member experience at speed, and integration ensures that valuable member data is captured and used to enhance business intelligence.”continue reading »