Millennials are undoubtedly the demographic cohort that is setting the stage for significant changes in the immediate future of consumer banking. Millennials:Will make up 72% of the global workforce by 2025Want to bank on their phones – in fact 74% of millennials say mobile banking is “very important” compared to only 42% of baby boomersAre two to three times more likely to switch financial institutions than other generationsFeel very strongly about the quality of the technology financial institutions provide – 57% would change their bank for a better technology platformIn line with these trends, branch traffic is declining. Consumer visits to retail bank branches are expected to drop 36% between 2017 and 2022. What are credit unions to do?They know they must adapt which is why, over the past decade, credit unions have focused on digitizing member engagement processes and enabling their members with self-service mechanisms. Overall, these efforts have been very effective and have produced some great tools, like online and mobile banking platforms, SMS and email automation systems, self-service kiosks and others. They enhance convenience for members and have become core components of credit unions’ member engagement strategy.However, convenience is only one part of the equation. Those credit unions that most effectively establish trust and build long-term quality relationships with their members reap the reward of member loyalty, deeper share of wallet and high referral rates. So credit unions are now looking for new ways to bring the human touch back in their member engagement strategy.Another key area that credit unions are trying to optimize is the utilization of their staff. Subject matter experts are scarce resources and making them available to serve members effectively is no easy task. In many credit unions, the smaller branches cannot afford to employ many advanced experts, so members visiting these facilities are typically served on a best effort basis or have to wait to get assistance. And members who don’t live near a branch or prefer to use online services struggle even more to access the right expertise. On the opposite side, the main branches often gather most of the key resources, so these experts are sometimes underutilized.Enter real-time video interaction services.Video interaction services have proven to be a perfect means to address these two challenges. They bridge the gap between online convenience and interpersonal connections with members. They enable credit unions to centralize their experts. They allow their members to have a lifelike meeting experience with them, wherever they happen to be in a branch, in the comfort of their home, or even on the go.These services can be used as a primary enquiry mechanism. The member typically selects a click-to-video-call button on the credit union’s web site, on its mobile application or on an in-branch kiosk or ATM. They can also be leveraged in a scheduled calls, where credit union staff invites a member to join a video meeting at a given date and time. The member joins using any personal device: computer, smartphone, or tablet.These video interaction services have a positive impact on many typical situations and processes that credit unions have to deal with every day:For processes that require multiple and regular interactions between credit union staff and the members, such as mortgage applications, private banking, or wealth management. Video adds the human touch each time. Face-to-face engagement, rather than a phone call or email exchange, can make all the difference. It also allows bringing subject matter expects in the conversations each time they’re needed, wherever they may sit.When emotion is running high and the quality of the interaction is key to ensure member satisfaction and maintain loyalty. Typical examples are when a member calls to report a stolen credit card or to complain about extra fees that they‘ve noticed on their account statement. Over the phone, it’s not easy for the credit union staff to deal with an unhappy, or even angry, member, and the member can sometimes feel that the agent is not empathetic to his/her needs. Video communication delivers the missing human element and facilitates a much higher quality relation and mutual understanding.To streamline the process of opening new accounts. Video banking, when coupled with additional authentication and digital signature capabilities, enables new as well as existing members to open a new account without any physical interaction. To improve the outcomes of branch visits. Pain points that members usually report about their branch visits are long wait time and lack of availability of the resource best suited to address their needs. Video allows some of the branch visitors to be served by remote staff when their needs do not require a physical interaction and can be fulfilled faster and with shorter wait time this way, or when they require advanced expertise that is not available in the particular branch they are visiting.According to our 2017 Video Banking Survey, fewer than 20% of credit unions have already fully deployed a video banking service but more than 75% plan to do so in the not too distant future. So while adoption is still relatively low, interest is definitely accelerating, driven by the tangible benefits that early adopters are achieving.Illinois-based Consumers Credit Union started to implement video banking in 2014. The initial objective was to centralize back-office staff and enable members to connect with experts from any branch in video banking dedicated rooms. Rollout in all branches was completed by the end of the year and the service was expanded to web in 2016 and mobile in 2017. The video channel was integrated into Consumers CU’s contact center environment to provide a seamless omnichannel experience. They report that their member satisfaction increased from 91.5% to 95.8% and the average wait time went from a shocking 1.5 hours or more, depending on the branch, to under two minutes to open a new account or apply for a loan.Even smaller credit unions benefit from video banking. BluCurrent Credit Union has only three branches in Missouri and under 20,000 members. It has been offering an in-branch video service since 2015 to connect members with the right subject matters expert regardless of the branch that they visit. As a result, BluCurrent has increased its cross-sell rate by 20% for its banking products and 93% of service users say that they would recommend it to someone else. BluCurrent reports that 55% of new accounts are due to member referral, even with no formal member referral program.So the lights are all green for an accelerated roll-out of video banking services among the credit union community. They see the tremendous value of video banking in two ways:Convenience for the members, thereby increasing satisfaction and share of walletOptimization of the staffing resources and growth of the credit unions’ bottom lineVidyo is at the forefront of this market evolution with many credit unions already using our video member engagement solutions across the country. Visit www.vidyo.com for additional information. 91SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Damien Simonneau Damien Simonneau is the EMEA Marketing Director & Head of Global Financial Services Solutions Marketing at Vidyo Web: https://www.vidyo.com Details
Tourism is considered one of the key drivers of the country’s socio-economic progress. It can be compared in scope to oil exports, food production or car production. It has become one of the key factors in international trade and is one of the main sources of income in many developing countries.Tourism accounts for 10% of world GDP, 6% of world exports and 1 of 11 of the world’s jobs. And now you can study it part-time, with work, family and other obligations, 100% online.It is crucial for success in tourism to follow trendsCreative thinking about news in the field of tourist offer is important for the success of an individual tourist organization. The main trends of the future are:• Emotional experiences• Experiences of local specialties• Body care• Gastronomy• Shopping• Escape from everyday lifeThe full article is available at links.You can find the only online program in the field of tourism in Croatia at DOBA FacultyProgram Business and management in tourism covers the most modern subjects in the field of trends in tourism, such as Development and design of top products and services in tourism, Sustainable tourism and the local environment, Social media strategies and marketing, Management of trends in tourism… We implement it in completely online, but don’t worry, we have been conducting online studies at DOBI for 18 years in a row, we have experience, international accreditation, developed support seven days a week, and your diploma will not say that you studied online, namely this way of studying is equivalent to classical – so officially, as in practice.Worried about an online degree? Due to the equality of both ways of studying, it is not written on your European diploma that you studied online.Do you want to get to know us better?At your disposal is the personal consultation of our manager for the Croatian market, Nuša Lazar, who is in Zagreb on Tuesday, February 6 and also, on Tuesday, February 13, 2018. Please register for the consultation by email [email protected] you are more comfortable at work or in a home armchair, join us at the online live presentation:• on Wednesday, February 14, 2018, at 12.00:19.00 or XNUMX:XNUMX. Sign up here.We will be happy to send you informative material if you trust us your contacts.At DOBA Faculty, we have prepared an interesting video that shows how to become a successful online student, among other obligations?