If you run a credit union, you’re already aware of the multitude of challenges in today's tech-driven financial landscape. From dealing with regulations and budgets to overcoming operational inefficiencies and contact center problems, leaving little capacity to address bigger concerns. On top of this, the changing member expectations brought on by new tech and Big Banks, like the adoption of voice assistants, are creating a new standard for member engagement.
So the question becomes, how are credit unions going to keep up?
We know to stay ahead in this competitive landscape, credit unions must think outside the box and adopt innovative technologies to solve their problems. But credit union needs are very specific and different from the greater banking industry which makes it difficult to find the right solution.
This is why Kore.ai has introduced a game-changing bundle of AI solutions specifically crafted for credit unions of all sizes. This innovative bundle combines industry expertise with our robust experience optimization platform, offering a way for credit unions to modernize their services and cater to the evolving needs of their members.
A Solution Tailored for Credit Union Success
The new Credit Union Bundle from Kore.ai promises rapid, flexible, and 24/7 access to critical banking services. But it doesn't stop there – the solution ensures a comprehensive end-to-end member support experience. According to Nadine Hohnke, Assistant Vice President - PSCU, "This solution is not only addressing critical staffing shortages but is also enhancing member satisfaction and creating new revenue opportunities, all while reducing operational costs."
At the core of the Credit Union bundle is an AI-driven conversational experience, creating a human-like interaction for members through both voice and digital channels. What sets this solution apart is its PCI compliance, ensuring secure communication protocols for robust data security and privacy. This combined solution is specifically packaged to help credit unions tackle the challenges they are facing every day across various use cases including in their branches and contact centers.
Built on the secure and scalable Kore.ai no-code platform, the credit union bundle allows organizations to design, build, test, and deploy customizable interactions with minimal technical expertise. This revolutionary approach significantly reduces an organization's reliance on technical experts, accelerates implementation, and enhances overall efficiency.
Real Results, Real Testimonials with a Proven Track Record
Don't just take our word for it – hear from the credit unions already benefiting from the Kore.ai Credit Union solution. Nadine Hohnke shared their success story, emphasizing how the solution increased member engagement, empowered agents for greater effectiveness, and cut costs in their contact center.
How did they get there?
By offering great service to their members, Public Service Credit Union experienced growth in member volume but also began noticing increasingly stressed staff, longer hold times, and concern with offering the same level of high-quality service they are known for. Their staff were too busy servicing repetitive questions and requests from members and were unable to offer new, better member service add-ons.
PSCU knew they needed a better solution to help them scale. That solution came in the form of a voice-enabled intelligent virtual assistant that integrated into the credit union’s existing IVR system to provide conversational, personalized self-service options and around-the-clock support for their members.
By streamlining many of the repetitive questions that the intelligent virtual assistant (IVA) now answers, PSCU successfully reduced the burden on their agents allowing them to focus more on outbound sales calls - without any significant cost.
The PSCU team, with the help of Kore.ai’s intelligent AI-based solutions - BankAssist and SmartAssist, was able to automate their contact center processes and reduce call volume by 25%. "The value has been significant," adds Nadine Hohnke.
Having provided cutting-edge conversational AI solutions in complex, highly regulated industries such as financial services and healthcare, Kore.ai had the expertise to offer an easy-to-use compliant solution. “Some of the largest financial service organizations in the world are built on the Kore.ai platform,” said Kore.ai CEO and Founder Raj Koneru. “It is exciting to expand our capabilities in a way that will address the industry-specific needs of credit unions.”
The timing of this solution couldn't be more opportune, considering the prevalent staffing and workforce challenges faced by credit union employers. Koneru notes, "Generative and Conversational AI solutions are stepping in to fill growing workforce gaps while enhancing member experiences and stakeholder satisfaction in the process. They're providing crucial support and increasing access to care when credit union systems are in greatest need."
How Credit Unions Can Stay Competitive, Today
As the financial landscape continues to evolve, credit unions face increasing pressure to modernize operations and deliver exceptional member experiences. The Kore.ai Credit Union Solution emerges as a beacon of transformation, offering a strategic response to staffing challenges, improving member satisfaction, and unlocking new revenue streams. By embracing the power of generative and conversational AI, credit unions can confidently navigate the complexities of the financial industry, ensuring a brighter and more technologically advanced future for both institutions and their members.
Ready to learn more about the new Credit Union bundle?Talk to an Expert