Digital banking is designed to be helpful and accessible: allowing members to manage their finances from practically anywhere at just about any time. It’s a convenience that draws in new account holders, keeps current members satisfied, and—if done correctly—can power new cross-sale opportunities. Financial institutions (FIs) are continuing to embrace digital-first service strategies for this reason, but there can be roadblocks that prevent visitors from fully utilizing digital channels. The digital approach can be daunting for more complex tasks, such as notoriously long mortgage forms. Not all members are equally comfortable with digital technologies, nor financially savvy enough to maneuver the more challenging transactions. A digital-first solution is not only about efficiency for the institution, but also ease-of-use and convenience for members.
Will someone who is less comfortable with digital technologies have the same easy, satisfying experience as a tech-savvy member? How will this affect their experience—and ultimately, their loyalty to the FI?
Listerhill Credit Union is one of many FIs that has adopted digital-first technology to connect with members and offer more convenience. One of its main goals was to ensure the digital experience remained intuitive and manageable for members no matter their comfort level with technology. Due to the self-serve nature of online support, members who are less comfortable filling out financial forms—such as mortgages or credit card applications—often require additional help. Listerhill decided to put all of their members first, not just the tech-oriented and financially knowledgeable ones. Therefore, in its search for a digital solution, Listerhill sought a Digital Customer Service (DCS) solution that was equally approachable for those with less digital literacy.
Glia stood out for Listerhill as a DCS provider due to the ability to lead users throughout the entire interaction in a seamless, intuitive way. Glia’s collaboration features, such as Live Observation and CoBrowsing, meant service reps could see what members are seeing on their screens, proactively reach out to them at the first sign of struggle, and personally guide them through the experience with visual feedback to prevent any confusion when navigating the website. Being able to collaborate together, pointing out features and links directly, creates a much more intuitive experience. Furthermore, demonstrating tasks on screen serves as a much more effective teaching tool, especially for those who are less comfortable with technology, enabling them to visually learn and more easily self-serve on their own in the future.
Mortgage applications are a popular feature on Listerhill’s website and are an area where DCS has shined for the business. If a member has spent a long time within an application, for example, a mortgage specialist can proactively ask if the member would like help in completing the form. From there, the member could choose to open a chat window with the specialist, enter a voice or video conversation, and even allow the mortgage specialist to help guide or co-pilot the interaction through CoBrowsing. A member who has trouble filling out the form, either due to an unfamiliarity with the application process or with the tech itself, can receive assistance from an expert that reaches out directly, during their time of need.
Because of this proactive approach, Listerhill Credit Union has realized a conversion rate that is four times the industry average, resulting in an additional $2 million in mortgage lending. By taking a member-friendly approach, Listerhill has increased its conversions significantly and fulfilled its goal of providing intuitive and easy digital service for all members.
Want to read more about Listerhill Credit Union’s DCS strategy? Check out the full case study for more info.