Pioneer Federal Credit Union Drives a Positive Member Experience Through Digital Banking

2/26/2019 

“Can’t we just use Skype, FaceTime, or Zoom to talk to members with less overhead?” 

This question may be familiar, especially if you’re in charge of credit union operations and are working to add video banking to your digital channels. As increased availability to technology has made connection faster and cheaper, video conferencing (or video chat), has become popular across generations.  
 
Video conferencing platforms, such as Skype, have made chatting with friends convenient and easy, but don’t confuse them with video banking. The differences between video conferencing and video banking are significant.  

When Idaho-based Pioneer Federal Credit Union was looking for way to integrate video banking into its digital strategy, the credit union found a solution that aligned with its digital strategy from Strategic Link partner, POPi/o. 

“The POPi/o video solution has enabled Pioneer to provide greater convenience while still delivering the member experience that is needed to build relationships with our members,” said Pioneer SVP and VP of Operations, Tracey Miller. “Our employees have the ability to service our members the same way they do in the branch but without asking our members to make it to our branch during regular operating hours. We have made changes to accounts in emergency situations and helped members that have to rely on others to get them to the branch.” 

Video conferencing is P2P driven, and its platforms require both parties to set a date and time to communicate, which has the potential to create service friction. Video banking, on the other hand, can be built into your call center queue, creating an on-demand experience for your members, the way digital channels should be. 

Video banking is B2P focused and recreates and enhances the entire branch experience with tellers, member service representatives, loan officers, and financial advisors. With video banking, you can record the call, produce logs and metrics to track performance, and provide data to prove compliance.  
 
Video conferencing isn’t meant to safeguard sensitive consumer information; it lacks the security features needed in order to meet the federal regulation requirements. Video banking adheres to all federal regulations in a business environment; it is compliant with security regulations that safeguard financial data.  
 
Simply put, video banking was custom-built to meet the needs of credit unions who want to meet the growing technological expectations of their members. Unlike video conferencing, video banking includes the following features:  

  • Document collection
  • Document signature
  • Screen sharing
  • Presentations
  • URL sharing
  • Product-specific workflows
  • Branch, web, and, mobile-focused deployments 

For more information about POPi/o, reach out to Northwest Credit Union Association Strategic Partnerships Manager, Corina Ruiz. To learn more about Strategic Link’s partnership with POPi/o, visit its webpage.