CUs Boost Services With Self-Service Kiosks & Small Business Banking Platform

Credit Unions call on self-service kiosks to migrate transactions to more efficient channels, and a small business banking platform to identify effecting ways to grow deposits and increase fee income.

Chandler, Ariz.-based branch transformation provider DBSI, announced the first deployment of NEXT, a self-service kiosk that helps migrate transactions to more efficient channels, while enabling tablet-equipped associates to advise clients.

The $13 million Austin, Texas-based Capitol Credit Union partnered with DBSI to, what it described, cost-effectively drive more convenience to each market segment while increasing associate productivity. “Industry-wide, there is a shift in banking. If we continue to do things the way we have been, it will not work. Traditional ITMs didn’t fully solve our need to expand the productivity of associates,” Pierre Cardenas, CEO of Capitol Credit Union said.

“We want to open it up for our associates to engage with members on conversations that are far above the monetary transactions and NEXT allows them to do that,” Cardenas added. CCU indicated after 30 days in one branch, 75% of one associate’s time spent on transactions was shifted to NEXT

Built by DBSI and powered by CFM, NEXT integrates with the Symitar Episys platform through CFM’s expanded relationship.

“The fusion of technology, design, and delivery is what makes a truly innovative experience and what drives our company,” Nathan Moore, CTO of DBSI+CFM, said. “NEXT is just one starting point for this strategy, but it’s focusing on all aspects of the branch experience that drives lasting transformation.”

The Detroit, Mich.-based Autobooks, a provider of small business payment and accounting solutions, announced two more credit unions — the $1.1 billion Farmington Hills, Mich.-based Community Choice Credit Union and the $525 million Traverse City, Mich.-based 4Front Credit Union are growing deposits and identifying new opportunities to increase fee income by using Autobooks small business banking platform.

Autobooks provides the underserved small business market with a way to improve banking better through simple payment and accounting tools. These financial institutions launched their small business networks with Autobooks in early 2018. Since then, Community Choice Credit Union enabled small businesses to invoice $4.8 million; and members of 4Front Credit Union invoiced $2.5 million. These financial institutions attribute the gains to making collecting and sending invoices easy for small businesses, which ultimately accelerates cash flow and access to working capital, supporting their local economies.

Keith Carey, vice president of marketing at the 4Front Credit Union, commented, “Autobooks helps us stand out as a better banking provider in a crowded marketplace. Their team acts as an extension of our credit union, helping us to build a small business offering that resonates with our members and provides a more valuable membership experience.”

Community Choice said it wanted to help small businesses in their communities reconcile their books and send invoices that accept multiple forms of payments, according to its EVP/COO Dan Munro: “Backed by the support and expertise from Autobooks, we can engage our neighbors with a product that positions our community for success. Autobooks doesn’t sell a product as much as they do a banking experience; it’s important for us to have a partner that prioritizes the needs of our members above all else.”

Steve Robert, co-founder and CEO of Autobooks, said, “This is a strong beginning to their growing small business services. Together, we can help more small business owners bank better and equip their companies to flourish.”