The NAFCU Journal September-October 2019 - 38

INSIDE NAFCU SERVICES

bolster card usage, driving spend and
engagement by allowing cardholders
to make purchases anywhere with their
rewards points. The card brand also
rolled out new APIs in the Mastercard
Developer Zone to open up client access
to the solution and data.
"As you look at the rewards landscape
and the payment landscape in general,
obviously there's a lot of change happening. Consumers have higher expectations in terms of how and when they get
things," says Mastercard Vice President
of Loyalty and Engagement Michelle
Geraghty. "We found that a lot of consumers were not happy with the lack of
choice and flexibility when it came to
redeeming their points or getting value
for their cash back."
Geraghty continues, "Pay with Rewards
enables cardholders to redeem rewards
by simply using the card they earned the
rewards on. Then they can just go to a
local store or restaurant or online and
use the points any way they choose, so
it addresses that need for flexibility and
choice for cardholders."
The program generates real-time
engagement and branding for credit
unions' cardholders as well as revenue,
because members are using the card
again to redeem the rewards, and they
receive a notification congratulating
them for using their points for the
purchase. "For issuers like credit unions,
it brings in more real-time engagement for their cardholders," Geraghty
says. "So, they're really reinforcing their
brand and their rewards program at the
point of sale."
The program is a flexible, cost-effective
method for executing point-of-sale
reward programs with no impact
on the processes or technology used
by merchants or acquirers. Card
issuers can configure program rules
38

to guide behavior that
optimizes
their
2019
Innovation
Awards
portfolio's potential.
Many thanks to our judges for their

JUDGES

help in identifying the best of what
business partners offer credit unions.
Kathy Chicas
An expert panel
Chief Operating
of industry judges
evaluates all entries
Officer, Farmers
based on the degree
Insurance of innovation and
impact on credit
Federal Credit
union success.
Union

Finally, Q2 won an Innovation Award
for its introduction of Gro technology.
Sharon Stahr
Gro specializes
mobile-fiOfficer,
rst memChiefin
Communications
Cobalt Credit Union
ber acquisition, rapid account opening,
large-scale marketing tactics for smaller
credit unions, service to business
members, ID scanning for quick data
extraction and more.

Kathy Chicas
Chief Operating Officer,
Farmers Insurance Federal
Credit Union

Q2 Gro Vice President of Sales David
Eads explains that he built the platform
Jim Pack
to help credit unions create a member
Senior Vice President, Chief
Member
Service
Officer, Coastal
experience similar to that of leading
Federal Credit Union
e-commerce providers. And the product
allows members to join a credit union in
just four minutes!
"Account opening is certainly a part of it,
but it's also about being able to integrate
with best-of-breed email and digital marketing tools, and so on," Eads says. "A lot
Mike Lawson
Randy Smith
of the solutionsCo-founder
that
came
before Q2 Gro
Creator and Host,
and Publisher,
CUbroadcast
CUInsight.com
were really more underwriting-focused.
They weren't focused on streamlining
#CUPreferred
and providing a frictionless experience
for the consumers."

Mike Lawson
Creator and
Host,
CUbroadcast 

Jim Pack
Senior VP and
Chief Member
Service Officer,
Coastal Federal
Credit Union  
Randy Smith
Co-founder
and Publisher,
CUInsight

Sharon Stahr
Chief Communications Officer,
Cobalt Credit
Union  

Eads says the results have been clear.
Q2 Gro clients have experienced a
70 percent checkout conversion rate;
typical institutions experience around
20 percent or less. "That means a lot more
people are able to get through the process
successfully and, ultimately, join the
credit union and get the products they're
looking for instead of being frustrated
and going somewhere else," he says.

Congratulations to our 2019 Innovation
Awards winners!

Q2 Gro enables growth efforts as
consumers increasingly move toward

Randy Salser is president of NAFCU
Services Corporation.

digital and mobile channels, a clear
winner for credit unions.

THE NAFCU JOURNAL SEPTEMBER-OCTOBER 2019


http://www.CUInsight.com

The NAFCU Journal September-October 2019

Table of Contents for the Digital Edition of The NAFCU Journal September-October 2019

The NAFCU Journal September-October 2019
Contents
Conferences
From the Chair
Washington and Industry Briefs
The Bottom Line
Access to Money
The Best Indirect Growth Strategy
Big Moments, Bigger Wallet Share
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
Industry Perspectives
From the President’s Desk
The NAFCU Journal September-October 2019 - The NAFCU Journal September-October 2019
The NAFCU Journal September-October 2019 - Cover2
The NAFCU Journal September-October 2019 - Contents
The NAFCU Journal September-October 2019 - 2
The NAFCU Journal September-October 2019 - Conferences
The NAFCU Journal September-October 2019 - From the Chair
The NAFCU Journal September-October 2019 - 5
The NAFCU Journal September-October 2019 - Washington and Industry Briefs
The NAFCU Journal September-October 2019 - 7
The NAFCU Journal September-October 2019 - The Bottom Line
The NAFCU Journal September-October 2019 - 9
The NAFCU Journal September-October 2019 - Access to Money
The NAFCU Journal September-October 2019 - 11
The NAFCU Journal September-October 2019 - 12
The NAFCU Journal September-October 2019 - 13
The NAFCU Journal September-October 2019 - 14
The NAFCU Journal September-October 2019 - 15
The NAFCU Journal September-October 2019 - The Best Indirect Growth Strategy
The NAFCU Journal September-October 2019 - 17
The NAFCU Journal September-October 2019 - 18
The NAFCU Journal September-October 2019 - 19
The NAFCU Journal September-October 2019 - 20
The NAFCU Journal September-October 2019 - 21
The NAFCU Journal September-October 2019 - 22
The NAFCU Journal September-October 2019 - 23
The NAFCU Journal September-October 2019 - Big Moments, Bigger Wallet Share
The NAFCU Journal September-October 2019 - 25
The NAFCU Journal September-October 2019 - 26
The NAFCU Journal September-October 2019 - 27
The NAFCU Journal September-October 2019 - 28
The NAFCU Journal September-October 2019 - 29
The NAFCU Journal September-October 2019 - Executive Spotlight
The NAFCU Journal September-October 2019 - 31
The NAFCU Journal September-October 2019 - Management Insight
The NAFCU Journal September-October 2019 - 33
The NAFCU Journal September-October 2019 - Compliance Central
The NAFCU Journal September-October 2019 - 35
The NAFCU Journal September-October 2019 - Inside NAFCU Services
The NAFCU Journal September-October 2019 - 37
The NAFCU Journal September-October 2019 - 38
The NAFCU Journal September-October 2019 - 39
The NAFCU Journal September-October 2019 - Industry Perspectives
The NAFCU Journal September-October 2019 - 41
The NAFCU Journal September-October 2019 - 42
The NAFCU Journal September-October 2019 - 43
The NAFCU Journal September-October 2019 - From the President’s Desk
The NAFCU Journal September-October 2019 - Cover3
The NAFCU Journal September-October 2019 - Cover4
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