Strategic Link Partner, DoubleCheck, Shares Framework for Evaluating New Technologies
In this digital age, change is the only constant, but it can be perceived as disruptive, costly, and requiring resources that are already strained. Yet, Strategic Link partner, DoubleCheck Solutions can help credit unions make digital changes without disrupting business or costing a small fortune.
Their flagship technology product, DoubleCheck CU.NOW, will improve your member experience while preserving non-sufficient funds income, enhance regulatory compliance, reduce risk, and greatly improve customer satisfaction. It also compliments your existing overdraft program(s) and introduces a new revenue stream.
“In today’s increasingly competitive financial services landscape, credit unions must continuously evolve their product and service offerings to meet the needs of members,” said Jason Smith, VP of Strategic Resources at NWCUA. “To stay relevant to members, it is imperative that credit unions embrace opportunities like those offered by DoubleCheck, to take advantage of all that digital technologies offer.”
DoubleCheck Solutions has created an internal framework for developing new credit union technologies, known as ASEND ― Analyze, Strategize, Empower, be Nimble, and Deliver. These five best practices can help ensure credit unions stay ahead of the curve when it comes to digital transformation.
Analyze ― Put some of the brightest thinkers on this task, to not only analyze your own data but to analyze it from other successful companies. Expand your reach to other wildly successful, technologically savvy companies.
Strategize ― Layout a strategy that focuses on a new and improved member experience that provides extraordinary service, control, and ease. It’s imperative to consider the opinion of members. Host focus groups, create surveys, and use other methods to understand what is top-of-mind for them.
Empower ― Employees and members want to be empowered. Open communications without fear of consequences is key to this process being successful. Members need a way to provide their input, comments, and “wish lists,” and employees need a way to communicate ideas.
Nimble ― Agility and the ability to deliver is key to success. Being nimble allows you to continuously improve the member experience because you have the ability to smooth out rough edges, keep things simple, make tasks intuitive, and offer flexibility.
Deliver ― Always be delivering the “great news” message to your members. Don’t be shy about sharing with them that you are always striving to provide the very best products and services that have a purpose, provide convenience, and are automatically available. Be clear about how these offerings will benefit them, how they can use it, and demonstrate how it can make their lives easier. Don’t forget your own team. Recognize their ideas, creativity, and successes, it’s a great motivator. Communicating a consistent vision and action plan keeps your team and business on task, profitable, and exceptional in creating member loyalty and attracting new members.
It’s critical credit unions embrace a culture of proactive innovation, versus reaction. That way, existing members will remain loyal and new ones will join, versus banking with another financial institution that may offer more of the services they’re seeking.
Editor’s Note: New at MAXX this year is the CU Pitch Contest – think “Shark Tank,” credit-union style. DoubleCheck will be in the spotlight with four other businesses during the heated competition, to kick off at 5:15 p.m. sharp on Oct. 15 during the Strategic Link Trade Show Welcome Reception. Don’t miss it! DoubleCheck will also be on hand to answer questions at the Trade Show’s betaSpace.
More information about DoubleCheck Solutions is available online. If you have questions, contact Jason Smith, VP Strategic Resources at 208-286-6794. If you’re not yet signed up, there’s still time to register for MAXX! It’s the biggest credit union networking event of its kind in the Northwest, happening in Spokane this year, from Oct. 15 to 17.