ST. PETERSBURG, Fla. (10/23/15)--An idea for a pop-up feature that eliminates collection calls in early delinquency stages, offers multiple payment options and enhances the member experience is the winner of PSCU’s KnockOut 2015 competition.
PSCU, a St. Petersburg, Fla.-based credit union service organization, declared Team Mo’ Proactive, comprising five members from FLAG CU, Tallahassee, Fla., and PSCU employees, as the winner of its 24-hour competitive payments summit hosted last month.
Twenty-four teams in Florida, Arizona, Michigan and Hawaii participated. KnockOut encouraged collaboration to discover new solutions to enhance members’ experience in three categories: member experience, credit union experience and growth. The three mainland events were hosted in PSCU offices; the fourth was hosted by HawaiiUSA FCU, Honolulu.
Members of the winning team are Carrie Edgerson and Beth Wheeler of FLAG CU and PSCU’s Elizabeth Rowe, Heidi Thomas and Ed Warren.
Their idea “speaks to an unspoken need in the collections area,” said Wheeler, member solutions representative at FLAG CU. “There is a need for a new strategy to bridge the gap to the millennial generation in particular, and we delivered something people didn’t even know they were missing until we pointed it out.”
Many of the ideas started with a front-office problem and offered a front-office solution, but the winning team started with a back-office problem and created a front-office solution, said PSCU.
Second place was awarded to Team Lava Rush from HawaiiUSA FCU, for an app allowing crowdfunding for life events.
Third place went to Team Hawaiian Punch from Hawaii State FCU, Honolulu, and PSCU for an app allowing members to obtain real-time loans.