In the ever changing market, you need a solid foundation to be able to compete, but you need unique offerings and services to surpass the competition. In this session, we will explore the required foundation (market, environment, product, customer and self-analysis) and then discover how to apply new ideas, technologies and value adds to distance yourself from the competition. Additionally, we will discuss making business partners “friends” and how to get your customers to think about you even when you are not right there in front of them.
Fintech vendors are on the rise and continue to offer competitive approaches to user engagement and product adoption. This presentation will share best-in-class digital engagement tools, give an overview of the digital competition, explain why millennials are opting more and more for digital lending, and provide practical next steps on how to establish a foundation for your credit union to succeed moving forward.
Keeping pace with loan fraud,
lending compliance risks, and regulatory changes is challenging to say the
least. However, your credit union must be determined to take those challenges
head on, so you can make confident decisions regarding the most pressing lending
risks. During this 60 minute session, you’ll hear about risks specific to
lending that come from just about every direction imaginable. We’ll
highlight the typical lending process and identify the most common loan staff
missteps, discuss risks specific to the virtual channel used to target
millennials, examine lending operational loopholes that fraudsters are waiting
to exploit, and discuss lending compliance trends that could trip you up.
In addition, we’ll highlight some real-life loss scenarios and share mitigation
tips to help you steer clear from the danger zone as it relates to
lending. Rise Above Your Lending Risk will provide you with emerging
risks impacting credit unions nationwide and give you the focus to provide the
As a data and technology company that partners with some of the leading financial institutions in the US, TrueCar has the latest insights into the forces shaping the auto lending market. Join Nate Roark from TrueCar as he challenges the conventional wisdom on future of Direct and Indirect Auto Lending, including sharing observations on digital auto retailing and disruptions in the industry. More importantly, he will share implications for Credit Unions in the near future.
Want your borrowers to come back to the credit union for their next loan—and tell others to do the same? Reducing member effort in the borrowing process is key. According to the Customer Effort Board, 94% of customers who report low effort in dealing with a company said they would repurchase, and 88% said they would increase their spending. Conversely, 81% of customers reporting high effort said they would speak negatively about the company to others. Or as Jeff Bezos of Amazon said, “In the old world, you devoted 30% of your time to building a great service and 70% of your time to shouting about it. In the new world, that inverts.”
In this presentation, credit union marketing and member research expert Constance Anderson will share insights on gaining member loyalty by reducing member effort gleaned from a study her company, MemberXP, conducted in collaboration with the Filene Research Institute and her company’s work in the area of member effort with over 100 credit unions in North America. She’ll share the most common pain points reported by members during the borrowing experience, how to implement a true Voice of Borrower feedback loop to measure member effort in your credit union, and the best practices for improving both the people and the process side of your members’ borrowing journey.