By Joseariel Gomez, CEO of Shastic
Most financial institutions are racing to go digital, and they’re making significant investments in new digital infrastructure to get there. However, these institutions are now faced with the challenge of going digital without losing personal relationships with customers. For community banks, which many customers choose precisely because of personalized service, going digital runs the risk of transforming their services into a commodity in which the only differentiators are interest rates. Investing in digital personal touch-points can be a key competitive advantage for these community banks.
Continue reading “How to Keep Lending High-Touch in a High-Tech World”
Recently, Shastic and Priority One collaborated to create a technology solution for the credit union’s digital platform.
With the addition of SMS, Priority One added an innovative security process for the verification of the member’s identity. This allowed the credit union to perform specific tasks over the phone, such as balance inquiries, transferring funds and making loan payments.
Continue reading “Priority One Integrated SMS for Verification and Security”
Technology, especially Fintech, is designed to make life easier for both companies and the people they serve.
Continue reading “Credit Union Times covers New MeridianLink SMS announcement”
Both banks and credit unions continue to lose market share to digital lending platforms that offer better user experience and more personalization.
Continue reading “Banks and Credit Unions Are Losing to Fintech”
Fintech startups issued 38% of all US personal loans in 2018, while banks provided 28% and credit unions accounted for 21%, according to TransUnion. This is a significant change from 2013, when fintech startups issued only 5% of US personal loans, banks issued 40%, and credits unions 31%.
There is a good chance you have used a shortcode at some point when communicated by SMS with a business organization, whether it be in the financial services, retail, travel, or transportation industry.
Continue reading “The Problems With Shortcode”
There’s no denying that technology has changed the way that people communicate, for better or worse.
Continue reading “How Messaging Has Transformed Customer Service”
Most credit unions currently have a process in place to verify each member through the call center. The verification of the member’s identity allows the credit union to perform specific tasks over the phone, such as balance inquiries, transferring funds and making loan payments.
Continue reading “How Credit Unions Verify Each Member’s Identification Digitally”
In the past, people had the time to visit a bank. But all companies must re-evaluate their customer service routines, and market leadership today means exploring how technology can help customers at financial institutions.
Continue reading “Mobile Banking: Exploring Trends For Market Leadership”
Not all credit union customer service strategies are created equal. Customer service solutions that incorporate some form of nonverbal messaging are better-off than those without.
Continue reading “Driving Credit Union Messaging: What Works?”