According to Financial Town, with BankOn Mobile Video, credit unions build a foundation for the self-service future by becoming trusted partners with members. The new service provides not only the solutions they need, but also exactly, when and where they want them.

There are two strategic points, Pranger explained. Who will own the banking relationship in 10 years?

"Is it going to be the bank down the block, the national bank or the credit union? The way we create the relationship is making sure the channel of access remains open and we allow the connectivity to happen," he said.

Secondly, does a financial institution want to play defense or offense?

"Do they always want to fight for that customer relationship or do they want to create this open channel?" Pranger asked.

As personal mobile devices become the dashboards through which accountholders manage money, he said, consumers (especially millennials) expect a higher level of personalization and service.

"People have a computer in their pocket but now they can connect face-to-face with a financial partner," Pranger noted. "It morphs into this customer relationship that credit unions can build over time."

BankOn's lineup of features includes live video chat, in-video presentations, check deposit, document sharing, e-signatures and analytics.

The BankOn Customer Communication Center plugs directly into the backend of existing systems and stores member information directly next to text or video chat, allowing representatives to review member history quickly.

Additionally, BankOn's comprehensive analytics feature helps financial institutions examine the effectiveness of their sales cycle, customer support and personnel. The system automatically records and analyzes customer interactions including call content, length, events and customer sentiment, the company said.