Credit unions better connecting all devices for members. (Source: Shutterstock)
Two innovative approaches to upgrading member interaction come from a California credit union creating a more targeted digital member experience; and an Arkansas credit union focusing on face-to-face video collaboration.
Atlanta based fintech provider NCR Corp. implemented its Promotion Suite Premium tool to help create a better, more targeted digital member experience for the $3 billion in Folsom, Calif.-based SAFE Credit Union.
The Promotion Suite Premium tool utilizes real-time geofencing information – based on a person's location and individual needs – creating a tailored online and digital experience with a human touch for SAFE members.
By personalizing the banking experience with NCR's innovative tools, SAFE is able to continue building brand loyalty while deepening customer relationships and improving members' financial well-being.
So far, SAFE promoted a cash back rewards program with push notifications, yielding a 30% conversion rate, increased engagement, and higher card spend; utilized a location-based in-app message highlighting a giveaway when patrons arrived at a local sporting event; and saw an 88% drop in abandoned calls within minutes of sending an alert message to affected members of a debit card issue, which kept them updated until issue resolution.
"Our early work with NCR's Promotion Suite Premium features allowed our digital banking experience to meet and exceed what big banks offer today," Rayna Salas, digital banking manager, SAFE Credit Union, said. "Credit unions are renowned for loyal customers, but we need to constantly reward that loyalty by upping the customer experience on all of their screens."
"With a superior digital customer experience and a focus on meeting the needs of consumers, we are enabling SAFE Credit Union to compete and win against larger financial institutions," Douglas Brown, senior vice president and GM, NCR Digital Banking said. "That's our mission for our credit union and bank clients."
NCR's new Promotion Suite Premium capability combines push notifications, geofencing, beacons, campaign management, app messaging and secure chat in an integrated digital experience.
Sandy, Utah-based POPio Mobile Video Cloud, which provides an interactive mobile video banking solution, announced its selection by the $45 million Camden, Ark. River Valley Community Federal Credit Union to allow face-to-face video collaboration for its over 7,200 members.
Merging mobile video chat with real-time collaboration between consumers and financial institutions via any digital channel, POPi/o's patented platform facilitates complex banking tasks between consumers and financial representatives, including in-video deposits and transactions, document approvals and applications, secure document exchanges, consultations, account management and more. River Valley members can access these services through web and mobile applications accessible via any personal device.
"With POPi/o, River Valley can be in each member's back pocket, its experts and representatives available at just the tap of a button, as if just across the desk," POPi/o founder/CEO Gene Pranger said. "Beyond such unprecedented convenience, efficiency and profitability, interactive video restores the heart of digital banking by preserving that human touch so vital in building trusted relationships."
River Valley Community Federal Credit Union president/CEO Mark Hixson, said. "POPi/o's video banking platform allows River Valley another way to connect with our members much more efficiently and give our members a great experience with us. Hixson added, "We are able to move forward with technology without leaving behind or ending the personal service our members expect from us."
POPi/o's executive dashboard and support center provide detailed call histories, analytics and advanced management functions, including an what the provider calls an industry-first application for emotive recognition. POPi/o allows smooth presentation of loan origination system documents and incorporation of other current customer service applications.
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