Building Member Relationships in a Digital World

By Damien Simonneau01.09.2019

According to Vidyo’s 2018 Video Banking Report, more than 80% of financial institutions are planning to deploy video capabilities in the future.

While in-branch banking is still a preferred choice for some members, it’s clear they’re adopting other channels as well—and by nature these interactions are devoid of any human touch.

A credit union’s staff, therefore, needs to capitalize on the face-to-face interactions they do come across.

According to a recent Harvard Business Review study, a face-to-face request is 34 times more successful than an email-based request, and email carries many similarities to online and digital banking. Both, for example, are primarily text-based and impersonal.

One could even argue that an email is more personal than online banking because the email likely comes from an individual versus a financial institution pushing information to you.

Face-to-face communication is key. But how can a credit union bring it to digital banking and use it to build member relationships?

Enabling a real-time video option is the best way to bring the human touch back to these important transactions and create the trust that can only be built through shared human experience.

And even for those members who prefer visiting a branch, video can also be beneficial as it offers access to additional expertise and can help get them served more quickly.

Banking is becoming increasingly digital. But the human touch and personalized relationships that drives success in banking is just as important as ever.


(via CUNA News)