It is an exciting time for us at MDC—we are kicking off new projects designed to give our owners the tools and knowledge needed to compete in an ever-changing financial institution environment! Here’s a sneak peek at our latest projects:
- Member Experience Onboarding and Engagement—Another project to add to our MDC library on member experience. We are focusing on the short window of time that credit unions have to onboard new members and convert them quickly to engaged members. We are looking for a credit union partner on this project. MDC will pay for part of the project fee—in exchange, you get to share the project results at an owner meeting.
- Loan Buddy—This idea came out of our Innovation Council meeting in August. The project team for this initiative is working on identifying an app to help track and notify members of where they are in a complicated process (i.e. mortgage applications.) Think Domino’s Pizza app, but adapted to meet the needs of credit union members. This app will include alerts as well as the ability to communicate and share documents back and forth between members and their credit unions.
- Skill Based Routing—Credit unions have the opportunity to leverage technology to improve operational efficiency. The goal with this project is to route members to the most suitable credit union employee, instead of simply choosing the next available agent. This would apply not only to call centers, but to in-branch locations as well.
- Innovation Skills—If our credit unions have ease of access to innovative thinking and tools, the MDC family will become even more advanced, industry-leaders. We want to analyze the characteristics of groundbreaking companies, identify gaps within our credit unions, and bring on partners and tools to enhance our innovation skill sets.
- Channel Assessment and Playbook—Building on the research we shared at the August owner meeting in Chicago, our team plans to create self-assessment tools so our credit unions can answer questions about their capabilities in three different channels. Our credit unions will then get customized feedback about their channel capabilities based upon their input, and tailored information about strategies to improve.
- Personalization—Our research shows consumers respond to personalized experiences—but can our credit unions keep up with this demanding task? Will an improved use of personalization increase member satisfaction, engagement, and loyalty? We plan to answer these ever-important questions as well as identify the structure (people, process, and technology) required to optimize personalization strategies with this project.
Calling all interested parties! Many of these projects are in the very-beginning stage—this means we are always open to inquiries from individuals and credit unions wishing to get involved in these initiatives. Want to join in the fun? Please contact our Director of Product Development, Sarah Lietz.