Building loyalty, meeting higher than ever service expectations and differentiating products and services from your competition are challenges that every Credit Union faces today. Searching for ways to take the member experience to the next level is constant as you seek to build better interactions that delight and grow your membership. We know the battle for members is fierce, and there are  products and services available to help you.

One important way you can take your member experience to the next level is by incorporating the intelligence of IBM Watson in your voice channel. An IVR solution can automate simple tasks and easily improve services for members, making every interaction exceptional. However, what about creating an experience that is proactive and even predictive, enabling you to be one step ahead of member questions or needs? Consider how providing information that is relevant, personalized and right on time for their specific needs could delight them. This is what is possible with the power of an IVR and IBM Watson. Today most member financial transactions are one dimensional. If mortgage or auto loan rates go down, you often respond with a big email blast or calls to encourage refinancing for the best rates. This could be considered proactive; however, it is in reaction to a single event rather than to a member’s entire portfolio of financial services.

Predictive and Proactive

Imagine if your Credit Union could pull from multiple resources, including inputs from different financial institutions, and provide the best caller experience based a member’s history, transactions and demographic. Incorporating a 360° view of a member’s entire list of accounts allows you to offer a better solution that fits their needs specifically, increasing user satisfaction while also driving up the opportunity to increase revenues for the Credit Union.

Increased IVR Utilization

As an example, with IBM Watson, your credit union would know, based on caller history, that a member calls in on the 3rd of the month, every month, to check if their Social Security check has been deposited. With an IVR, often members do not get the information they need or it takes too much time and costs too much. A much better approach is to, proactively through AI, offer the customer the option of notification via a phone call or SMS message alerting them when their check has been deposited and that funds are available. In addition, if the member calls, they are greeted personally and provided the deposit information right up front, without prompting. This level of service and convenience not only provides the “home town feel” they get with a Credit Union, but reduces total calls into the IVR, thereby reducing your costs. Some real world results: a 50% increase in IVR utilization and a 33% reduction in transfers to agents.

Blueworx works with Credit Unions to develop solutions that deliver big bank convenience with the Credit Union touch, while driving bottom line results. Our team of experts has the know-how to help you uncover the “what if” opportunities and make them a reality. See how the power of IBM Watson and Blueworx Voice Response can impact your member experience. Talk to us today by calling 888-495-0005, visit our website page Cognitive Contact Center or Contact Us.