Wow. 2020 managed to pack a decade of excitement into the span of a single year. Interestingly, it also packed several years worth of digital transformation into a few months at the beginning of the pandemic.
Credit unions began by closing branches, leaning heavily on their digital channels… and continued to lean on digital even after reopening. Now, more members than ever use online and mobile banking. Branch visits are fewer and farther between.
All of this raises the question: How can credit unions continue to be there for members when they can’t physically be there? How can your technology create the same friendly, safe experience that in-branch visits typically provide?
Read on to see eight technology trends that credit unions should keep a close eye on (especially in the face of the coronavirus).
Continue reading “2021 Credit Union Technology Trends to Watch”
Even before COVID-19, consumers have increasingly turned toward chatbots to help them with digital requests. Now that social distancing and work-from-home policies are normal, the chatbot trend is accelerating.
Continue reading “Digital Transformation: How Automating Member Support Leads to Growth”
Let’s be clear: the COVID-19 crisis has drastically increased consumer demand for chatbots. They keep you connected to your members while helping them with mundane issues like password resets, fee disputes, and minor banking needs.
Continue reading “Is That Chatbot for Credit Unions Really AI-Powered?”
The pillar of the Credit Union industry is member service. Credit Unions have strong relationships with their members and strive to do what is right. It is a common misconception that Artificial Intelligence will remove the human aspect from banking with a Credit Union. In reality, AI is an opportunity to deepen those already strong member relationships. Artificial Intelligence can automate and improve services delivered to members while also improving your Credit Union’s bottom line.
Implementing Artificial Intelligence at your Credit Union can allow you to:
- Offer a new service to a member at an opportune time
- Provide an even greater customer service experience when a member has an issue
- Deliver the convenience members seek and delight your customers
These are the experiences members are demanding and that Credit Unions must provide in order to remain competitive in today’s banking environment. And, all this starts with data.
Continue reading “Why Credit Unions Need to Implement Artificial Intelligence”
It’s CU 2.0 Fintech Friday! Today, Chris Otey sits down with Coalesce AI to discuss all things credit union, fintech, and digital innovation.
Coalesce.ai helps credit unions introduce the power of AI and machine learning into their operational ecosystem. Their platform utilizes User-Defined Machine Learning, which allows clients to train Coalesce.ai’s automation platform how to gain expertise in a certain set of tasks.
Coalesce.ai’s systems helps credit unions and financial industries reduce error and increase efficiency while saving time. By reducing or eliminating the possibility for human error and the necessity for manual labor, Coalesce.ai lets ten credit union employees accomplish the work of a hundred.
For credit unions, Coalesce.ai found that “the operations of a financial services firm like a credit union today requires—especially in the middle and back office—a lot of tedious, manual, repetitive work: opening spreadsheets, scanning emails, filtering through PDF documents. And with this new AI technology, we’ve been able to automate the way that some of that gets done at credit unions.”
Continue reading “CU 2.0 Fintech Friday: Coalesce AI”