Channel Delivery for Tomorrow
Members’ banking-delivery inclinations are all over the map, and credit unions are feeling the pressure to implement myriad channels and please everyone. But you know what they say—you can’t be all things to all people, and that’s what this research addresses. It reviews changing delivery-channel preferences, efficient technologies, and the trade-offs credit unions must make to best serve their members’ current and emerging needs.
Filene Research Director Ben Rogers looks at channel delivery from four slightly different angles, using proprietary data from McKinsey & Company, Novarica, and Fiserv, along with national data from Gallup. Using those disparate sources and expert interviews, he details preferences and forecasts their likely evolution.
It’s important for credit unions to understand national trends and to consider them in light of their own member demographics, institutional profile, and strategies. Especially if your resources are limited, you can’t—and shouldn’t—offer all channels. It’s better to have 5 A+ channels than 20 mediocre ones, so you have to select those with the best fit now and several years down the road.
The bottom line for your bottom line? Push low-value transactions to digital channels. Disseminate information digitally, too. And save your human resources primarily for high-value transactions.