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How to create high-touch digital experiences for Credit Union members using co-browsing


What Credit Unions can do to close the Innovation Gap

Credit unions (CUs), once at the leading edge of technology innovation, are falling behind when it comes to digital transformation. Only 17% of CUs have end-to-end digital loan and mortgage strategies currently in place. This is unwelcome news considering that 22% of all CU members “would consider leaving their CUs for competing financial institutions if their CUs do not innovate,” according to the new Credit Union Innovation Study.

What’s more, CUs saw the lowest growth of digital adoption during the pandemic—a time when many businesses moved their operations online. Yet only 28% of credit union consumers have increased their digital banking since the pandemic. Why?

Changing consumer expectations

There is increasing pressure on CUs to offer high-quality online experiences to their members. Technologies that were once considered innovative by members are now considered basic requirements. If CUs want to increase customer satisfaction and drive revenue, they need to step up their innovation game and take action to boost their digital maturity. How?

Incorporate digital capabilities 

Leveraging a conversational platform allows you to engage with members when they need you, enabling you to add value at every stage of the member journey, providing a positive experience that increases customer satisfaction and retention.” Co-browsing, a key feature in the Unblu Conversational Platform, is one way that CUs can elevate member conversations and increase satisfaction — and sales.

Get your innovation edge back

Here’s how CUs can use co-browsing to transform the digital experience for its members:

Step 1: Ensure seamless integration 

For CUs looking to use co-browsing to enhance their online interactions, the first stage is integration and set-up.

Integration is key. That’s why CUs need to offer a seamless and interruption-free online member journey, with advisors able to offer guidance at the exact moment a member needs help.

First, embed the Unblu application into your website so that it’s easy for any visitors to identify it. The application should be integrated on each page so that advisors can step in and offer whatever help is required, wherever the member is on their journey.

The Unblu customer interface is totally customizable. This means you can adjust its appearance, feel, position, and size so that it coheres with your brand style and voice.

Step 2: Leverage the ‘moment of truth’

The key to proving your value as a CU is to step in at just the moment a customer needs you, providing personalized guidance tailored to their specific problem.

When a potential credit union member lands on a high-intent page, this signals that they are probably open to taking things further. Place a concierge bot on these pages to create an opportunity to start a conversation. The bot can onboard the customer, asking if they’d like to be transferred to a specialist. This way, there’s a higher chance of conversion.

Need to schedule a meeting with an existing member? Using secure messenger, the member’s advisor can send them a request and the member will then receive a push notification via the banking app.

Step 3: Make meetings more productive 

CUs offer a range of products, some of which are very complex. The application process for products like mortgages, in particular, can be overwhelming.

Co-browsing can be used to reduce abandonment and increase conversions. Together with video calls, it offers members personalized support and improves the convenience and accessibility of online meetings. 

Member and advisor can browse, navigate, and edit documents together. The advisor can walk the member through documents and applications, and even use a mortgage simulator, together with universal co-browsing, to help a member understand the different deals available.

Using our tools, Unblu clients report an increase of between 20 and 30% in meetings they organize with customers.

Step 4: Personalized member advice

Video call combined with co-browsing allows for the familiarity and comfort of an in-person exchange without the member having to leave home. They still get access to their advisor’s expertise and reassurance but with the added convenience of a remote interaction. 

Members want personalized help on complex products like mortgages and loans. Embedded co-browsing, where the advisor can see the member’s browser and mark and highlight certain details, makes the advisory process clearer and more specific.

Co-browsing also enables visual troubleshooting, allowing problems to be resolved faster and more efficiently. With a visual context, advisors can identify the problem—such as an issue with the two-factor authentication login system—with far more precision.

95% of clients are extremely happy with the experience after the first remote digital session.

Step 5: A start-to-finish digital member experience

Before making any decisions or committing to anything, credit union members will want some time to reflect and consider. This could take a few weeks. 

Credit unions can keep building relationships during this time, keeping the conversation open using Unblu’s tools. Each interaction builds on the one before as new advisors have access to the conversation history and can pick up where the previous advisor left off. 

Once the member has made a decision, the advisor can share the final proposal form via document co-browsing. They can then examine and edit the form together before closing the deal with a secure and compliant e-signature. There’s no need for the member to come into the branch. The entire process can be concluded online.

Credit unions & Unblu

With tools like co-browsing, Unblu allows CUs to build stronger relationships with members, provide personalized help, and guide them through their financial decisions in a more efficient and convenient way. 

Book a demo today to find out more.