#3319: Nook's New 'Niche Experience Platform' Looks to Enhance Member Engagement...

nook_austinwentzlaff.mp3
File Size:	22317 kb
File Type:	mp3

Download File

---

Nook Co-founder/CEO Austin Wentzlaff stopped by the show to share the big news regarding the official launch of Nook -- a new fintech offering a first-of-its-kind platform designed to empower credit unions to provide niche experiences to their members without the need for a new brand, website, or technology stack.

Austin explains that Nook’s Niche Experience Platform leverages a niche, lifestyle content approach to build focused communities around core member groups, building deep trust and loyalty. By incorporating lifestyle topics alongside financial content, Nook offers a fresh perspective, encouraging more frequent member engagement and enabling credit unions to sell without selling by allowing members to envision the practicality, relevance and positive impact that credit union solutions have on their lives.

He added that Nook was founded to tackle a problem nearly every credit union faces – truly engaging members at a deeply personal level. To grow, credit unions have expanded their fields of membership and the products and services they offer. As a result, credit unions have raced to become all things to all people, offering a wide variety of products and services to diverse demographics, leading to lower engagement and member loyalty – and ultimately decreased profitability.

By recognizing these challenges, Austin said that Nook presents a unique solution to redefine how credit unions connect with their members by reintroducing and modernizing the focused, targeted model that originally set them apart. Credit unions benefit from their own niche strategies without sacrificing their existing brand.

Exciting news for the talented Nook crew and even more so for credit unions. Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.