BluCurrent Credit Union, headquartered out of Springfield, MO, deployed Vidyo to provide its members with video-enabled banking agents who can personally and efficiently help them with non-teller banking needs; so far, members love it.
How can BluCurrent Credit Union, which operates primarily through its three physical branches, provide efficient, expert and personal banking services to all of its members, regardless of the branch that they frequent?
BluCurrent centralized key banking services using the Vidyo solution by placing video-enabled, private banking services in each of its three physical branches, with services conducted through its centralized operations center.
- Efficient – Centralized video-enabled banking agents make the banking experience efficient, personal, and professional for members.
- Cross Sales – Cross sales of banking products via video-enabled banking have increased by 20%.
- Recommended – Members who have used the system rate it 4.5 out of a possible 5, and 93% say that they would recommend it to someone else.
- Training – Video banking has given BluCurrent a fantastic new training tool.
Credit Union branches carry expensive overhead; yet members tend to prefer the personal, hometown banking experience that physical branches and its employees provide. BluCurrent currently has three branches that experience varying levels of traffic – and therefore demand – for responsive customer service. They wanted a solution that would balance the need for efficiency with the need for personal, professional service.
The solution was to centralize specialized, non-teller banking agents into a single facility, and then have the banking agents available via a Vidyo-enabled session to meet members’ needs in each of its three physical branches.
BluCurrent knew that for successful member adoption of video-enabled banking, the experience would have to be as personal, private and professional as talking with an experienced agent in person. That’s why BluCurrent took great care in developing a user experience that was completely intuitive for its members.
Today, when customers walk through the door of any of BluCurrent’s three branches, they are personally greeted by a credit union liaison. The liaison determines what their banking needs are, and whether or not they would be best served by a video-enabled banker who resides in BluCurrent’s Central Member Experience Center. Typically, members who require a more involved transaction, such as opening a new account, applying for a loan, or resolving a banking problem with their account, are prime candidates for video-enabled banking.
The liaison then directs the member to a private office with comfortable furniture, and a desk with a screen, where they can immediately interact face-to-face with a banking agent who is best suited to meet their specific needs, using the VidyoWorks-based software platform. The member doesn’t need to know anything about the video software to be able to easily conduct a banking transaction. If any documentation or signature is required, BluCurrent uses a document camera and signature pad to capture information.
These interactions are possible thanks mainly to Vidyo’s adaptive video layering which lets BluCurrent deliver optimal experience regardless of device or network; a feature critically important as they get ready to enter mobile/online banking integrations. The flexibility of Vidyo’s APIs allowed BluCurrent to integrate with a customer queuing algorithm they had previously developed and then synced with their Mitel contact center.
The member saves time and is being serviced by an expert, while BluCurrent saves in efficiencies by fully utilizing each of its specialized bankers to the fullest extent possible.
“It’s a win/win situation,” says Derek Williams, Chief Operating Officer of BluCurrent Credit Union. “Vidyo allows the right subject matter expert to be available to the member, regardless of a physical branch. They are able to help the member faster and get them the service they need as quickly as possible.”
Since installing the system, BluCurrent has polled its members to understand how well it is being received. The results have been impressive: Members who
have used the system rate it 4.5 out of a possible 5, and 93% say that they would recommend it to someone else.
“We have repeat customers who like it so much, they will just head to the room on their own,” remarks Williams.
Williams notes that in the two-year period since the installation of the Vidyo solution, cross sales of other banking products have increased by 20%. He attributes the uptick in sales to be a direct result of coaching that happens when a manager is sitting next to the video-enabled agent on the other end of the screen.
While BluCurrent’s initial goal was geared to meet its member needs in the branches, it has since discovered that the Vidyo platform has provided a superior training environment for new banking employees. Now, rather than place employees in the branches for training, they spend time in the centralized Member Experience Center, learning by observing off-screen live interactions between experienced banking agents and members.
“The training opportunity is awesome, and without the awkwardness that you’d have if you were doing it in person,” says Williams.
In the future, BluCurrent plans to extend its in-branch video-enabled banking services to the web and via mobile – one of the primary reasons it chose to work with the Vidyo platform. While the credit union remains committed to maintaining its branches for those members who still want in-person service, video allows them to reach many more existing and potential members in the Southwest Missouri area.