Credit unions across the country - financial institutions everywhere for that matter - are trying to 'crack the code' on the future of branching strategies as part of remaining relevant and keeping customers/members engaged and satisfied.
What if your retail locations could be an extension of your self-service strategy, and vice versa?
Or, what if your branching strategy allowed you to partner with other retail locations to use your brick and mortar to service other retail customers as a means to generate revenue, foot traffic, and membership/loan opportunities in a slick, modern, digital fashion?
How would your net promoter score look if your members enjoyed the aesthetic and experience of your branch, because it was built around a modern concept of digital delivery and retail automation?
In a world where most community financial institutions are relegated to a position of miming or mimicking what they see in commercials like those showcasing the "Capital One Cafe," Nutmeg State Financial CU decided to remain relevant by using its core business strategy combined with its core technology as a catalyst to let them lead and compete rather than follow and flounder.
In June 2018 (before the launch of Capital One Cafe, btw) Nutmeg and DaLand CUSO developed and deployed a Core-Optimized Self-Service experience to revolutionize the credit union's retail branching strategy. We call it the "Member Orbit Experience" (because it' so forceful and flexible it will keep them engaged in an orbit around your institution!).
The core differentiator, the philosophy and strategy to extend any transaction supported by the core to a sleek, secure, digital self-service experience (without dependency upon third party rails or vendors, and without the unsustainable per transaction costs associated with legacy ways of processing self-service transactions).
Nutmeg recently completed the launch of it's second, larger location built on the blueprint of this relevant retail strategy; and the local media and community are impressed with the results.
This is just the latest in our mission to keep credit unions relevant to the core. You can bet we're working on more core-centric digital experiences to empower your transformation towards relevance!
The result speaks for itself:
PS - if you're thinking, "Hm, but I don't have a DMV relationship ... perhaps not, but we call the function supporting that DMV experience the "Retail Automation" channel. It allows remote scheduling of appointments, queuing of in-branch service, management of member relationships and transactions in branch, transfer of in-person transactions to kiosk for fulfillment, etc. We bet you have a good use-case for that!
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