Online Banking, Mobile and Web: Your Digital Assets …...their online banking and mobile banking?...

Online Banking, Mobile and Web: Your Digital Assets at a Glance

Agenda• Introductions• Marketing Funnel• Free Analytics Tools• Choosing an Online/ Mobile Banking Product• Micro Sites• ADA Compliance• Site Speed & Mobile Optimization• Online Banking Examples Then & Now• The Future of Online Banking

The Presenters• Emily Koehler, Digital

Marketing Specialist at St. Louis Community Credit Union

• Tim Erwin, President of Innovative Technology, Inc.

• Blake Myers, Director of FinTech at National Federation of CDCUs

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Innovative Technology Inc.Tim Erwin (President)

• Subsidiary of Dedagroup NA• Experience

– 35 years in the credit union core and digital data processing systems– Implemented the first HomeBanking products in 1995– Designed our first HomeBanking Web application in 2002– One of the first companies in the credit union industry to make available a

mobile remote check deposit systems in the United States 2008• Have digital delivery products installed in over 120 credit unions.

Emily Koehler (St. Louis Community Credit Union)

• Digital Marketing Specialist:– Website administration– Social Media management– Content creation– SEO strategy– Connoisseur of free tools & online documentation

Digital is a process, not a project.

Marketing• Traditional Marketing (PR, ads, newsletters,

partnerships, email)• Digital Marketing (Search Engines, Social Media,

Business Listings)• Websites (Inbound Marketing)

– Website vs micro-site vs landing page

• Content Strategy

The Inbound Marketing Journey

Marketing + Online Banking

Collaborative Reporting: Marketing + Online Banking

– Website visits – Product Page (ex: Used Auto Loans) visits – Apply Button Clicks

• Member or Non-Member – WEBSITE DATA ENDS HERE::: Online Banking & LENDING DATA BEGIN

HERE– Applications

• Abandoned or Submitted– Applications Approved – Loans Originated

Use Free Web Analytics

Avoid Data Silos– Marketing, eServices, IT and vendor collaboration

to make the most of available data.• How can companies avoid data silos and make the most

of the data they have to make smart decisions about their online banking and mobile banking?

Check Your Progress– Use free services and take advantage of documentation

from:– MOZ’s (SEO, Crawl Test - check for broken links & common errors)– Google’s:

• Site Speed Insights• Analytics• AdWords• MyBusiness

Make Improvements• Find out what functionalities

your website, mobile app, online banking platform have. Are they mobile responsive? Are they secure? Are they beautiful?

Popular HomeBanking and MobileBanking Platforms

• CUe-Branch• Digital InSight• Connect• Q2• Virtual Branch

• Make sure to provide the Member all important information onto the opening screen.

– Balances, Pending Transactions, History and Transfer options.

• Choose a product that obtains deep data from the core &other systems. Example:

– Debit Card Freeze, Address changes, ACH origination.

• Product must integrate & share data with other systems.– Examples: Lending, Collection, Account opening, IVR (Voice systems), E-notices, E-

statements, E-alerts, Credit Cards

End User Experience: Choosing a Product (1/3)

• Ease of Access – Biometrics (fingerprint, voice, palm, facial and so on)– Don’t make sign-in or sign up an overly complex process.– Incorporate speed texting into your portfolio of options for the member to

choose• Microsites : individual web page (landing page) or a small cluster of web

pages to address particular functionality• Example: homeloans.stlouiscommunity.com

End User Experience: Choosing a Product (2/3)

Landing Page vs Micro-Site

An Overview of the NYS CDFI Small Business Lending Network micro-site

Introductory Presentation

NY CDFI Small Business Lending Network Website

• To connect small business owners to the fair and affordable capital offered by CDFIs

www.nycdfiloans.com

CDFIs Registered for this Call

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Vision & Goals

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Vision:

Small business owners consider CDFIs their firstoption when shopping for a loan in New York State.

Vision & Goals

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Vision:

Small business owners consider CDFIs their first option when shopping for a loan in New York State.

Goal:

Connect small business owners to the fair and affordable financial products provided by CDFIs, in a simple, sleek, and efficient manner.

Features (1/4)

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Key Website Features:

1. Aim for a very simple look and feel

2. Highlight the CDFI mission (but don’t overdo it)

3. Add testimonials and explain the story

4. Quick: Short, 3-step ‘get connected’ process.

5. Reiterate: ‘get connected’ often

Features (2/4)

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Key Website Features:

1. Aim for a very simple look and feel

2. Highlight the CDFI mission (but don’t overdo it)

3. Add testimonials and explain the story

4. Quick: Short, 3-step ‘get connected’ process.

5. Reiterate: ‘get connected’ often

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Features (3/4)Key Website Features:

1. Aim for a very simple look and feel

2. Highlight the CDFI mission (but don’t overdo it

3. Add testimonials and explain in their words

4. Short, 3-step ‘get connected’ process (‘quick’)*Reiterate: ‘get connected’ often

*As we will discuss later-on, please, send us your stories, we want your members faces and glowing recommentations on this site

Features (4/4)

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Key Website Features:

1. Aim for a very simple look and feel

2. Highlight the CDFI mission (but don’t overdo it)

3. Add testimonials and explain the story

4. Short, 3-step ‘get connected’ process (‘it’s quick’)

5. Reiterate: ‘get connected’ and ‘quick’ often

Systems and Processes

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Exhibit A: Exhibit B:

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1. Clean, sleek, modern and efficient websites. They are very user friendly, easy to navigate, and most importantly - encouraging. “Apply Now” buttons can be found on almost every page.

2. Convenient. Strong emphasis on ease of process, acceptance of sub-prime customers with a broad range of credit scores, and quick dispersal of funds upon approval.

3. Simple: The application process itself is less-intimidating and more streamlined than that of online CDCUs. Often times, CDCUs demand much more information.

4. “Why We Are Better” sections that include customer testimonials to showcase how the benefits of the network. This encourages trust.

5. Strong security standards.

Summary of ResearchAnd lessons Learned

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Coming Soon: The Juntos Avanzamos Site

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Learn More

Blake MyersDirector of FinTechNational Federation of CDCU’sbmyers@cdcu.coop212-809-1850 x. 221

End User Experience: Choosing a Product (3/3)

• ADA Compliant (Americans with Disabilities Act)– The U.S. Department of Justice (DOJ) that WCAG

(Web Content Accessibility Guidelines) Level AA Compliance will be the standard in April 2018.

– Not complying or late compliance may cause the Credit Union to be sued.

ADA Compliance Examples (1/2)

• Provide “skip navigation” link early on in the page – (Enabling people who use screen readers to avoid having to listen to all the links

each time they move to a new page.)– with the correct usage of headings markup (h1, h2, h3), the need for skip

navigation links can be alleviated– Provide alt text for links and images– Video files on your website have audio descriptions – Audio files should have written captions

Alt Text or Decorative Image (WordPress)

ADA Compliance Examples (2/2)

– Keyboard Accessible functionality.

– Online forms default setting in drop-down lists describe the information being requested instead of displaying a response option (e.g., “your age” instead of “30 -45”)?

– Resources:– ADA.gov – WAVE - wave.webaim.org

W3 – w3.org/WAI/ER/tools

Market Trends– Most Internet surfing, searching, and sharing now takes place on

mobile.– 80% of consumers regularly use their phones to shop online.– Search engines like Google prioritize sites that use responsive design.– 53% of users will not wait more than 3 seconds for a page to load.

– Online-only lenders pose a threat to CUs lacking online presence• UpStart, LendingTree, SoFi & Kabbage, Check N Go, etc.

The Need For Speed

Original Site

The Mobile Optimized Website

Site Improvements Since Mobile Optimization

• Bounce Rate Down 50%

• Domain Authority (Page Authority)up from 29 to 41

• Site Speed Up on both Mobile and Desktop

Online Banking in 1995 vs 2017

• Balances • Dates (last activity)• Tax information• Make a simple transfer• Limited transactions history

listing

• Member self-registration and password reset• Balances, history, transfers, check images, e-

statements• Pending transactions• Account alerts• Check withdrawals• Account Aggregation• Remote deposit• Secure messages• Billpay• Quicken, QuickBooks and other outside

downloads

Online Banking feature add-ons (2017)• Create a new account (suffix)• Check images (both on-us and external)• E-notice access• Credit card information, account controls (Example Limit changes) and card alerts• Debit card freeze• Outside product support and integration (location finders, marketing, micro site connections)• Outside transfers (P2P, other FI transfers, member to member, ACH• Multiple account access from the same view (cross accounts, business accounts)• Home address and Email address changes• Nicknames• Live chat• Target marketing driven by the core and third parties

2012 Design for Mobile Banking

2014 Version

2016 Version

2016 Version (ext)

Early 2000 Website Version

2016 Version

The Future of Online Banking• Instant money movement (both domestic and international)• Easier access methods (voice, palm, speed text banking)• Enhanced functions normally done at the credit union level

1. Instant resolution of transactions (overdrafts, proactive alerts )2. Enhanced /Automated loan decision and funding 3. Allocation of incoming transactions funds (payrolls and other deposits)

• Live video chats (utilizing call centers and other outside staffing methods)Your new data processing core system will be

your Homebanking and Mobile devices!

Questions?