There are reasons why banks and other financial institutions are adopting mobile-based platforms for their customers: It fosters a sense of closeness that has been lost in the business of the modern world.
Phone calls and in-person meetings take planning, and often coordinating phone calls and meetings cannot happen because of contradictory schedules.
On a personal level, this shows that there is less time in the day for people to make time for the things they both need and want to do, and in no way is this more clear than through text messaging statistics. On average, millennials sent nearly 67 texts per day and far fewer calls per week.
Assessing Customer Need
So how do credit make their customers feel like their needs matter and that they are part of a community? By adopting fintech that allows customers to feel like credit unions can handle complex daily tasks for them when they are feeling crunched for time. Additionally, credit union fintech acknowledges their nuanced lives and difficulties. Very ambitious banks and credit unions are utilizing apps that help millennial-aged customers save, something that many customers of this demographic have problems with. Therefore, the ideal banking financial technology shows that the bank or credit union understands their customer and wants to help them with their day-to-day struggles. In other words, modern fintech wants to rekindle the sense of community by adopting a helping hand.
How to Adapt as a Credit Union
But credit unions don’t need to stretch their resources so far that they break. A common solution to customer needs comes from offering text banking services that can be done from anywhere at any time, like the services offered by Elle. These services allow customers to transfer money, check account balances, and get help with questions when they have time. Better yet? Adoption of these services has been shown to increase customer satisfaction rates.
For more information on how Elle can foster a sense of community among your credit union customers, check out our website.