Tablet computers are changing how CUs and their members operate.
April 7, 2013
Whether expediting account enrollment during college class registration or enabling business development reps to generate new business in the field, tablet computers are changing how credit unions and their members operate.
It’s a change that promises to be fundamental, according to a white paper from the CUNA Technology Council. The devices are sleek and stylish, but have also quickly become powerful tools.
At the start of the fall semester, $363 million asset USC Credit Union in Los Angeles rolled out a self-service enrollment process using iPads tethered to a table in the gym where students consult with financial aid advisers.
Users enter basic information in Andera’s oFlows soft ware, then scan in required documents with the camera function. The information instantly cycles through Chex Systems, identity authentication, and the Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons List, and is saved in the core processing system.
This triggers an email confirmation, which includes disclosures and a welcome packet, along with customized cross-sale offers.
An Andera survey of one implementation showed that establishing a checking account in this manner cut the process to 14 minutes from 52, and increased the rate of products opened at sign-up from 1.2 to 1.9.
Having a credit union employee sitting side-by-side with clients and walking them through the process on a tablet, rather than sitting behind a desk on a computer, is “one of the things that members seem most jazzed about,” says Mary-Kate Perry, Andera’s vice president of solutions consulting.
For more information, consult the CUNA Technology Council white paper, “Tempted by Tablets: Putting Handheld Computers to Work in Credit Union Operations.”