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What to Do, What Not to Do:

How to Turn the Self-Service Trend to Your Advantage

Today almost all branch transactions in Western Europe are performed using self-service machines. While the U.S. is behind the technology curve, banks and credit unions are slowly shifting to more self-service technology. But at what cost to consumer relationships and revenue?

The guide, Five Ways to Maximize Your Self-Service Investment, provides five tips that can help credit unions capitalize on the growing self-service trend and avoid its pitfalls:
  1. Self-service technology doesn’t eliminate the need for human interaction—a rule taken from the airlines’ playbook.
  2. Make sure self-service technology works at your branch—why a branch with strong traffic must have the potential to move 30 to 40 percent of transactions to self-service.
  3. Have a plan that includes employee training, marketing and possibly an entire branch redesign.
  4. Re-evaluate your entire delivery strategy – why this should be just part of an overall retail transformation.
  5. Ensure self-service provides a clear benefit to members – why self-service must be quick and easy for them.

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Based in Rancho Cucamonga, Calif., CO-OP Financial Services is a ginancial technology company that harnesses the vast breadth and depth of our insights, network and connections in order to provide a customizable suite of tools and services for credit unions. With a motto of "Be There, Be More", CO-OP's business lines include ATM, CO-OP Member Center, Connect (including CO-OP Shared Branching), Card Payments, Engagement, Security Innovations and THINK.