Credit union leveraging digital engagement platform through its partnership with Member Driven Technologies.
WyHy Federal Credit Union selected the Digital Onboarding engagement platform through its partnership with Member Driven Technologies (MDT), a CUSO that hosts the Episys® core processing system from Symitar® to provide a private cloud alternative for core processing and IT needs. The credit union will leverage the Digital Onboarding platform to give members living in rural Wyoming guided digital journeys that make it easy to adopt account-related services and additional products.
“Serving the rural Wyoming community requires WyHy to take a digital-first approach to everything that we deliver to our members,” said Bruce Bryan, Executive Vice President, WyHy Federal Credit Union. “We previously tried to leverage another marketing platform, but it was incredibly complex, and it would have taken a dedicated team more than a year to implement it. The Digital Onboarding platform is built for credit unions, it is simple to use, and it comes with a team that can support us. Finding it was a dream come true.”
The Digital Onboarding platform enables WyHy Federal Credit Union to seamlessly create and measure the effectiveness of digital member journeys without heavy lifting from the credit union.
The Digital Banking Report’s Account Opening and Onboarding Benchmarking Study showed that 25 to 40 percent of new checking accounts are closed within the first year. Driving early engagement is the key to building long-lasting relationships. Today’s members demand personalized, digital communications and tools that eliminate the friction associated with new member onboarding processes.
“Credit unions that serve rural areas need to be especially adept at building relationships via digital channels,” said Ted Brown, CEO, Digital Onboarding. “WyHy Federal Credit Union is innovative in its approach to being a digital-first institution. I am thrilled to help the team further its mission of building valued relationships by delivering personalized financial options.”
The Digital Onboarding engagement platform triggers emails and text messages that connect new account openers with personalized microsites. The platform’s digital, self-service tools allow members to update direct deposits and default card payment methods in seconds. The platform also helps members adopt digital banking services and other products that drive cost savings, satisfaction, and primacy.
Leave a Reply.
Author: Mike Lawson
Married to a most gorgeous and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.