Tuesday, July 1, 2014

Time to get real: Mobile platforms aren't 'nice to have'

Have you recently applied for a loan from your credit union through the same channels your members do? How was the experience?

"If a credit union wants to be a full-service provider in their member's delivery channel of choice, you need to have a mobile first mindset across the entire business – or your CU will lose out in the end,”  CUNA Mutual Group's Robert Israelite emphasizes during his Discovery session Tuesday at America's Credit Union Conference.

Perhaps hard to hear, Israelite brings to light the reality that many veteran CEOs and credit union boards are far removed from the behaviors and needs of their members. In fact, according to Google's "Think Insights" study, if your website is not mobile-optimized: 

The old 'nice to have' is the new 'need to have.' Israelite recommends credit unions looking to build out their mobile capabilities take a deep breath and:

  • Start with your mission, vision and values --  determine if your goals and strategy relate to mobile and if so, build it into your business strategy at the very top.
  • Put yourself in the shoes of a real member -- make it a priority for all your staff to experience and understand every online member-facing channel. 
  • Go through every link on your site -- if you don’t control it talk to business partners who do to get it optimized for mobile. 
Essentially, the key here is to understand what your members are experiencing. And, Israelite adds, "you'd better get moving because you're already late to the party. Many credit unions have already lost more members than they’ll ever know about. Those members have moved on and they’ll never come back."

Like what he has to say?
Listen to a radio podcast with Israelite for more in-depth info.