Quiq adds eight major credit unions, accelerating financial sector momentum
BOZEMAN, MT (March 7, 2018) — Quiq, a leading provider of messaging for customer service software, today announced that the company has added eight credit unions to its customer base, which signals strong momentum in the financial sector for the fast-growing firm. Combined, the eight credit union clients now give more than 720,000 members a messaging option to handle customer service issues, which improves member satisfaction, increases response rates, and lowers costs.
Quiq’s credit union clients include Alabama One Credit Union in Tuscaloosa, AL; the Educational Employees Credit Union (EECU) in Fort Worth, TX; Ent Credit Union in Colorado Springs, CO; GenFed Financial Credit Union in Akron, OH; Red Rocks Credit Union in Highlands Ranch, CO; Land of Lincoln Credit Union in Decatur, IL; Pima Federal Credit Union in Tucson, AZ, and Southern Chautauqua Federal Credit Union in Lakewood, NY. Shaa Moore, System Administrator at Southern Chautauqua Federal Credit Union, credits the addition of Quiq’s customer service messaging solution with an uptick in membership:
“We’re attracting the younger generation with a modern communication channel,” Moore observed. “Members think it’s ‘cool’ and tell their friends about it. Our member response time has gone from 10 minutes or more by phone to 1 minute via inbound text messaging. Now, our members are more likely to contact us because we’ve made it easy. We’ve also used outbound messaging to remind members of past-due payments. On one day alone, we received 32 payments. Past-due collections calls typically generate a 1 to 5 percent response. Thanks to outbound text messaging with Quiq, our collections recoveries have increased over 75 percent. This was unexpected and amazing.”
“We decided to add a messaging option because that’s how our members communicate with their friends and families, and we felt that many would want to use the same channel to talk to their credit union,” said Jason Halperin, Chief Lending Officer at Alabama One Credit Union, who is currently implementing Quiq. “Our goal is to increase digital engagement with our members across the board, while appealing to millennials, who clearly prefer to use messaging. Use of SMS is associated with higher response rates, which we hope will reduce delinquencies and aid in collections, and we’re also hoping to see an increase in loan pull-through rates and velocity.”
Quiq’s messaging solution presents messaging conversations to agents and if an agent is handling multiple conversations simultaneously, Quiq automatically prioritizes the conversations based on the pace and responsiveness of the member, so the agent can ensure timely responses and high member satisfaction. Quiq’s Messaging also offers more sophisticated features including inbound and outbound messaging, routing, queuing, transferring, and collaboration on a single, omni-channel platform that can handle SMS/text messaging, web chat, and Facebook Messenger. This eliminates the need to log into multiple platforms to manage member conversations, which enhances agent productivity. Finally, Quiq delivers comprehensive reporting and analytics from all the messaging channels to support continuous improvement of the member experience.
“Members increasingly expect to be able to message financial institutions like they do companies in other industries,” said Mike Myer, CEO and founder of Quiq. “We’re excited to work with our credit union clients to help them improve response rates through digital engagement. With Quiq, credit unions work more efficiently on a single platform that encompasses multiple digital communication channels, while giving customers the messaging options they expect.”
Our mission is to improve the way customers communicate with companies. Quiq makes it easy for customers to contact a business via Messaging, the preferred channel already in use with friends and family. With Quiq, customers can now engage customer service via SMS/text messaging, Facebook Messenger, Web Chat, and Kik, for help with their pre-sales questions and post-sales support. Find out more at https://goquiq.com/.