VentureTech25: Penny and St. Mary's Execs Talk Making Money Advice More Accessible for Members...

venturetech25_tylerandcrissi_audio.mp3
File Size:	10947 kb
File Type:	mp3

Download File

---

Tyler White, EVP – Chief Strategy Officer of St. Mary’s Bank; and Crissi Cole, Founder & CEO of Penny Finance; joined us in the Studio Lounge to discuss how St. Mary’s Bank has partnered with Penny Finance, to make money advice for members more accessible.

In particular, Tyler and Crissi focused on digital engagement, understanding member goals, and simplifying financial processes. The partnership aims to strengthen member relationships and offer tailored solutions.

Key points they pointed out included tracking engagement and adapting services to meet diverse needs, with future goals centered on expanding outreach and ensuring ongoing member engagement through innovative strategies.

Q&A
What is the significance of St. Mary's Bank utilizing Penny's services?
St. Mary's Bank's decision to utilize Penny's services marks a significant partnership, enhancing their financial planning offerings and improving member engagement.
How does Penny simplify the financial planning process for credit union members?
Penny simplifies financial planning by breaking down complex processes into easily digestible information, making it accessible for members at various stages of their financial journey.
What challenges do digital users face when engaging with financial services?
Digital users often struggle with initiating financial conversations online, making it crucial for services like Penny to create engaging and accessible digital experiences.
What role does micro-targeting play in enhancing member engagement?
Microtargeting allows credit unions to use data to identify and reach out to members who are likely to benefit from specific financial solutions, thereby increasing engagement and satisfaction.
How does St. Mary's Bank plan to track member engagement over time?
St. Mary's Bank plans to track member engagement through an engagement scoring model that assesses how actively members utilize their services and products.
What are the expected outcomes of the pilot program initiated by St. Mary's Bank?
The pilot program aims to foster a steady increase in member adoption of Penny's solutions, enhancing engagement and providing valuable insights into member needs.

​Check it out and let us know your thoughts. And be sure to watch all our Studio Lounge episodes from VentureTech on our archive page -- as well as visiting our sponsors who support our conference coverage: Corelation, Backbone, and "Despite Impossible" podcast.