The NAFCU Journal May - June 2018 - 26

R

emember when mobile banking
was a perk? People would
say, "I chose this credit union
because they let me deposit
checks through an app" and "My credit
union is the best! I can check my
account balance right on my phone."
The good news/bad news is that the
industry has done so well with mobile
banking that the capability is no longer a
member-attracting bonus. It is, as many
of the credit unions we talked to call it,
"table stakes."
So what are credit unions doing to keep
on top of the trend - and on top of
member expectations? We asked credit
union experts and NAFCU partner organizations what's new and cutting-edge,
where mobile banking is heading in 2018
and beyond and how it can enhance
credit unions' member satisfaction and
overall mission.

THE PAST

With the first smartphones came
browser-based banking and SMS banking, and since then we've witnessed the
growing pains - and successes - of
the mobile banking industry as it has
raced to keep up with changes in technology, worked to differentiate itself
from internet banking and become
clearer on the needs of its users.

A LONG (AND
FRUITFUL) JOURNEY

Some credit unions took a straight path
from browser-based banking to native
mobile banking apps, while other credit
unions' journeys took them through
places unknown.

For SEFCU in Albany, N.Y., it all started
in 2003. "I think the BlackBerry was
the smartest of the phones back then,
so it was a very basic mobile banking
browser," remembers Director of
eCommerce Andy Stadel. SEFCU has
since offered text banking, as well as
applications inside Facebook that let
members view their balances. "And now
we have today's native banking app,"
Stadel says. "We've really been trying
to keep up with all the changes over 15
26

years. Each year it's a new technology,
and each year we have to evaluate what
we think is long-term versus what's
going to be a short-term technology."
For New York City-based United Nations
Federal Credit Union, the journey was
a reflection of the mobile and international nature of its members. The credit
union launched its online banking
platform in the 1990s and rolled out the
mobile banking app to its members in
2012. Not too unusual, but where United
Nations Federal Credit Union veers off
the usual path is that the credit union
recently merged its online and mobile
experiences. "Before, those were two distinct channels for our membership, and
using a separate username and password
for these channels was cumbersome,"
says Chief Information Officer Prasad
Surapaneni. "But now they're together in
line with our strategy to deliver services
that are mobile, convenient and fast. Our
quarterly survey scores reflect the high
satisfaction rate of our members with
our digital banking."
No matter how credit unions' mobile
banking journeys have differed over the
years, they're working on many of the
same issues and advances today.

THE PRESENT

Mobile banking has come so far, it's like
talking about kids. "Aw, remember when
we used to send SMS codes to check our
balance? Now we can check in seconds
through an app!" and "I remember when
mobile banking was just a baby and
couldn't even do remote deposit, and
look at it now!"

Let's take a look at what's happening in
mobile banking right now in its teen
years, and then we'll give you the scoop
on what it will look like as an adult.

GOING FOR THE STARS

When you're trying to decide whether
to drop $4.99 on that self-published
space opera, you probably check out the
reviews on Amazon. Credit unions do
something similar by sifting through
reviews in the app stores to find out what
members like and don't like about their

mobile banking apps and the general
consensus on whether their apps are
good or in need of improvement.
However, it is possible to rely too heavily
on app store feedback; for example,
Rahm McDaniel, vice president of
strategic solutions for Q2 Open, points
out that while reviews can help identify
trouble spots, the members who leave
reviews in app stores tend to be the
ones who are either elated or incensed
with the app - meaning credit unions
that focus too much on ratings might
miss out on important insights from
the majority of members who are only
mildly happy or unhappy with the
mobile banking experience.
America First Credit Union in Ogden,
Utah, has a smart way of getting feedback from members: It's their Innovation Center, which is "part branch,
part learning workshop and part tech
playground." The center is stocked with
the latest mobile devices so members can
play with the newest apps and offer their
feedback in person.
"The entire store is centered around giving feedback," says Brice Mindrum, manager of America First's mobile services
department. "There's an exit survey, and
the response rate is very high. Our staff
is very keen to take feedback and suggestions as well. They ask, 'How was your
experience in the store? What did you
interact with? Tell us what you like, what
you don't like.' " Members are excited to
offer the staff feedback such as, "I was
playing with the mobile app, and I wish
it could do X" and "I didn't know that
the app auto-categorized my spending ...
that's really cool!"
Testing is another important way credit
unions are gathering member insights on
their mobile banking apps. For example,
at Alliant Credit Union in Chicago, "user
testing has become super important to
our overall development process," says
Michelle Spellerberg, Alliant's vice president of marketing and digital strategy.
"Watching them click through is insightful. You'll build something originally and
say, 'Yep. This makes complete sense.'
THE NAFCU JOURNAL  MAY-JUNE 2018



Table of Contents for the Digital Edition of The NAFCU Journal May - June 2018

Conferences
From the Chair
Washington and Industry Briefs
Trump, Credit Union CEOs Discuss Issues at White House
Growth Strategies
In Cybersecurity We Trust?
The New Landscape of Mobile Banking
2018 Annual Conference Exhibitor Directory
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
The NAFCU Journal May - June 2018 - Cover1
The NAFCU Journal May - June 2018 - Cover2
The NAFCU Journal May - June 2018 - 1
The NAFCU Journal May - June 2018 - 2
The NAFCU Journal May - June 2018 - Conferences
The NAFCU Journal May - June 2018 - From the Chair
The NAFCU Journal May - June 2018 - 5
The NAFCU Journal May - June 2018 - Washington and Industry Briefs
The NAFCU Journal May - June 2018 - 7
The NAFCU Journal May - June 2018 - 8
The NAFCU Journal May - June 2018 - 9
The NAFCU Journal May - June 2018 - Trump, Credit Union CEOs Discuss Issues at White House
The NAFCU Journal May - June 2018 - 11
The NAFCU Journal May - June 2018 - 12
The NAFCU Journal May - June 2018 - 13
The NAFCU Journal May - June 2018 - 14
The NAFCU Journal May - June 2018 - 15
The NAFCU Journal May - June 2018 - Growth Strategies
The NAFCU Journal May - June 2018 - 17
The NAFCU Journal May - June 2018 - In Cybersecurity We Trust?
The NAFCU Journal May - June 2018 - 19
The NAFCU Journal May - June 2018 - 20
The NAFCU Journal May - June 2018 - 21
The NAFCU Journal May - June 2018 - 22
The NAFCU Journal May - June 2018 - 23
The NAFCU Journal May - June 2018 - The New Landscape of Mobile Banking
The NAFCU Journal May - June 2018 - 25
The NAFCU Journal May - June 2018 - 26
The NAFCU Journal May - June 2018 - 27
The NAFCU Journal May - June 2018 - 28
The NAFCU Journal May - June 2018 - 29
The NAFCU Journal May - June 2018 - 30
The NAFCU Journal May - June 2018 - 2018 Annual Conference Exhibitor Directory
The NAFCU Journal May - June 2018 - 32
The NAFCU Journal May - June 2018 - 33
The NAFCU Journal May - June 2018 - 34
The NAFCU Journal May - June 2018 - 35
The NAFCU Journal May - June 2018 - 36
The NAFCU Journal May - June 2018 - 37
The NAFCU Journal May - June 2018 - 38
The NAFCU Journal May - June 2018 - 39
The NAFCU Journal May - June 2018 - 40
The NAFCU Journal May - June 2018 - 41
The NAFCU Journal May - June 2018 - 42
The NAFCU Journal May - June 2018 - 43
The NAFCU Journal May - June 2018 - 44
The NAFCU Journal May - June 2018 - 45
The NAFCU Journal May - June 2018 - 46
The NAFCU Journal May - June 2018 - 47
The NAFCU Journal May - June 2018 - Executive Spotlight
The NAFCU Journal May - June 2018 - 49
The NAFCU Journal May - June 2018 - Management Insight
The NAFCU Journal May - June 2018 - 51
The NAFCU Journal May - June 2018 - Compliance Central
The NAFCU Journal May - June 2018 - 53
The NAFCU Journal May - June 2018 - Inside NAFCU Services
The NAFCU Journal May - June 2018 - 55
The NAFCU Journal May - June 2018 - 56
The NAFCU Journal May - June 2018 - Cover3
The NAFCU Journal May - June 2018 - Cover4
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