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Making the Shift: Member Experience Today

A five-part series

May 07 12:00 PM - May 07, 2020 4:30 PM
May 07, 2020 12:00 PM - 4:30 PM

So much of our energy (rightfully so) has been focused on the immediate crisis. But take a step back and look a little farther down the road. What do you see? How is the changing world going to impact your credit union's strategies?

This five-part on-demand webinar series will explore just that. From payments, to digital. From AI, to flesh-and-blood people. We will look at it all.

Agenda

1 - Pursuing Relevance: Today, Tomorrow, and Beyond 2020

What do we do now? The consumer we serve, our economy, and society are under immense pressure. The uncertainty makes matters even worse. Yet, as financial institutions we are fortunate to have essential status – not just a job, but a privilege to serve.

What can we do to serve those in need? How do we move from being reactive to becoming mentors? How do we garner and leverage our strengths to do even more? How do we move from survival mode to eventually thrive? How do we deliver on our purpose effectively?

Our discussion will focus on five things:

  1. Strategies and tactics to assist us during the crisis
  2. An understanding of the challenges we face beyond the COVID-19 crisis
  3. A deeper understanding of what consumers truly want
  4. A pragmatic analysis of what it takes to get there 
  5. Ideas to guide us beyond 2020

2 – Top of Mind? PFI? Focus on Payments!

Your consumer/business is paying for products and services every single day. Their wallet carries numerous cards and one or more of these cards could even power their digital wallet(s). FinTech and large financial institutions continue to pursue consumers to adopt their “superior, seamless, convenient, secure, and incentive-laden” payment instruments. 

How do you compete in this arena? What would it take for you to earn your consumers’ confidence to be that top of wallet card? What would a leading with payments do for your financial institution? Can you truly lead with payments?

Five things form the foundation of an effective payments’ strategy:

  1. Superior Service: Timely and proactive responsiveness that will make it easier for your organization to serve existing consumers, keep consumers, and get new consumers
  2. Earnings Growth: More cards, more usage, portfolio growth – payments as a strategic moneymaker for your organization
  3. Circumvent Fraud: Fight to circumvent fraud – card present, card not present, social engineering, heuristics, and even curtail false positives
  4. Drive Innovation: The future is about touch-point real-time authentication – card controls, deciphering big data, and being like or better than FinTech 
  5. Consistent Experiences: Giving the consumer seamless frictionless experiences – P2P, A2A, debit, credit, ACH, digital wallet. 

Do these well, and you can counter FinTech, lead with payments, and nurture your way to becoming the consumers’ primary financial institution. Join us for a discussion on ideal practices. Innovative, yet practical ideas to power your payments strategy.

3 - Developing a Foundational Digital Strategy

Our digital strategy today is built around enhancing the consumer experience. It is about making our websites responsive across devices and providing consistently easy experiences across our digital platforms. This is a very good thing but only a first step.

Digital is our biggest branch and we need to empower this branch to serve existing consumers, attract new consumers, and also support our other channels. The digital branch manager is akin to the head of ecommerce in the retail world. This branch manager needs to be empowered (and mentored) to run this channel like a true dot com. Even more success will come if this is omni-channel.

Many digital transformation projects start with a focus on the consumer but do very little to assist employees. We need to conduct a back-end digital transformation (enhance the financial supply chain) with a focus to assist employees to become more efficient. From simplifying information access to intuitive/auto-decisioning systems – there is a lot of room for improvement. 

One mantra to remember in the digital world – there will always be change. Let us learn to adapt and endear to this change as it will also provide us with our greatest competitive advantage. With a correct digital foundation, we can scale to grow and serve consumers well.Join us for a of lot of learning – pragmatic advice and innovation. We have to lead our consumer to become digitally savvy. We will discuss ideal practices including pitfalls to avoid and lessons learned. Accelerated learning to enhance and help you build a foundational digital strategy.

4 - Cognitive Collaboration: How AI and Humans Will Combine to Drive Our Future 

Mobile, digital payments, biometrics, the cognitive cloud, and big data. What impact will these have on consumer behavior? How best can you leverage these technologies to create meaningful engaging experiences? These trends are already driving significant change in how consumers interact with brands. 

The future is about being omnipresent, 100% relevant, completely secure, super-fast transactions, and machine intelligence. It is also built upon one simple mantra – “being there, being everywhere.” How can your financial institution prepare for this change and continue to serve consumers effectively?

Join us for an inspiring session about what to expect in the future. We will cover innovative experiences from other industries and their impact on financial services. We will take you into innovation labs, introduce you to results from future-focus groups, provide insight on artificial intelligence - incredibly useful research that you can leverage as you define your own strategy.

5 - Delivering on Experience: People, Product, Process, Technology

Consumers need financial institutions to complete their financial journeys. They need money that drives everyday economics - it drives their needs, helps with problems, and fuels their aspirations. The consumer we serve has a myriad of choices in who they use and they can have more than 10 financial relationships in their lifetime. 

How do we insert ourselves into the center of each relationship? How do we become part of everyday transactions? Do you know what these consumers truly want? What does it take to become the primary financial institution? How do we leverage emerging technology as an enabler?

What would it take to move beyond 2020?

  • Our people need to be developed into sought after financial counselors who are empathetic and knowledgeable
  • Our processes should allow simplified one/two touch transactions that offer absolute ease and convenience
  • Our technology should leverage bio-metrics, data, and AI to deliver efficient and effective experiences

This inspirational discussion will highlight the key challenges we face, provide anecdotal case studies from around the world, and provide us with the right questions to ask as we define our road-map for success.

Speakers

Sundeep Kapur

Sundeep Kapur, Educator | Digital Credence

Sundeep is an educator focused on helping brands enhance engagement. His insight driven workshops have helped many financial institutions define and implement a successful strategy for 2020 and beyond.

He continues with his efforts to research and enhance the learning to make it actionable and relevant.

“Keep it relevant, keep them engaged and you will nurture your way to be the primary financial institution”.

 

 

Location

Fees

Additional Info

The series launched May 7th, with the first part of the series available on that day. Subsequent episodes are being released in the days following. You only have to register once, to receive access to all five.

Event Type

On-Demand Webinar

Topics Covered

  • Coronavirus
  • Operations
  • On-Demand Webinars
  • Member Service
  • Marketing & PR
  • Lending & Collections
  • Fraud, Security & Technology
  • Financial Education & Community Outreach
  • Executive Management
  • Event Bundles

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