Five Ways Eltropy’s Text Messaging Solution Helps Credit Unions Reach their Members

Technology has come incredibly far in the last decade, and as a result, businesses, including credit unions, are adapting their communication strategies to connect with consumers in more efficient ways.

When considering the variety of fintech strategies available, there’s a critical question that credit unions confront: What technology will deliver high ROI and a competitive edge? Eltropy’s text messaging-based member-engagement platform — armed with business intelligence, IT integration, and compliance — checks both boxes.

“It’s no surprise that text messaging has become one of the most efficient ways to reach members,” said Jason Smith, Vice President of Strategic Resources. “Members expect fast, responsive communication on the devices they use every day, and Eltropy helps credit unions deliver that.”

The Strategic Link partner’s text messaging-plus-analytics solution provides five major advantages.

  1. It’s a one-stop shop for member-facing teams:
    • Business Development
    • Marketing
    • Lending
    • Collections
    • Service
    • Internal Communications

While serving multiple teams, Eltropy’s software also offers ease of use and a quick learning curve. Regardless of the use case, both the desktop and mobile interface look the same; it’s coordinated and centralized, and it’s not difficult to get multiple teams up and running.

  1. Eltropy’s platform integrates with multiple systems: core banking, including Symitar; CRM, including Salesforce and Microsoft Dynamics; and content management, such as Dropbox or Box. Moreover, because Eltropy works with DocuSign, it’s never been easier for loan officers to secure digital signatures.
  2. Eltropy offers two-way text messaging to enable meaningful conversations that help them meet their members’ needs. Giving members the opportunity to respond quickly vastly improves their experience with their credit union. The use of automated payment reminders lowers the rate of delinquencies, and two-way texting creates easy opportunities to hold meaningful conversations with members experiencing financial hardship.
  3. If a credit union would like to adopt text messaging but has questions about how to meet FCC/TCPA compliance rules, Eltropy has the expertise to help. Eltropy will work with each credit union to navigate the different standards for 1-to-1 and 1-to-many texting. It has also developed a list of best practices for collecting text messaging opt-ins, so that, in addition to remaining compliant, credit unions will know they’re reaching out to members or prospects who are interested in hearing from them.
  4. Eltropy offers credit unions predictive analytics based on high-level business intelligence and machine learning. By tracking more than 20 data points on content engagement, Eltropy can predict future buying behavior. As a result, credit unions’ member-facing teams will spend less time following up with prospective members who have shown low levels of engagement.

Eltropy will host an informative demonstration on March 19, from 9 to 10 a.m., PDT (10 – 11 a.m., MDT) on how text messaging can help credit unions weather the COVID-19 storm. Register today for this free webinar.

To learn more about Eltropy, visit its Strategic Link partner page or contact Jason Smith at 208.286.6794.