news.cuna.org/articles/116610-coo-exchange-focuses-on-technology
COO Exchange focuses on technology
Bill Thomas, United Nations FCU, discusses technology and operational issues during the COO Exchange.

COO Exchange focuses on technology

Mobile, RDC, ITMs among the top issues.

September 12, 2019

Participants shared ideas, best practices and knowledge during a COO Exchange at the CUNA Operations & Member Experience Council Conference in Chicago on Wednesday.

Among the thoughts shared during the session:

  • Refining the member experience with remote check deposit. Members want fast access to deposits, but credit unions need a balance between safety and convenience.
  • Transitioning retail strategies to the mobile space. Participants say they are closing branches and reducing staff size, instead focusing on mobile wallet rewards and text services.
  • Employing interactive teller machines (ITMs) to accommodate for reduced staffing while increasing efficiency. ITMs also allow credit unions to extend branch hours.
  • Encouraging older members to use new products and services, including mobile and ITMs. “Everybody has the technology in their hand today,” one participant says.
  • Issuing contactless debit and credit cards. Members are fine with the transition, participants say, but they also cautioned against mass issuance because many consumers are wary of any new technology.
  • Creating flexible branch spaces. New open-air branches with universal tellers don’t work in every situation, participants say.
  • Eliminating “points of friction” for staff and members to make processes easier and more straightforward.

Click here for more conference coverage from CUNA News, and get live updates on Twitter via @cumagazine, @CUNA_News, @CUNACouncils, and by using the #TechCouncil and #OMECouncil hashtags. Learn more about the CUNA Councils, a member-led professional society for credit union executives, at cunacouncils.org.