In this episode of the Digital Banking podcast, you get to hear from Adrian Quince, Assistant Manager for technology at Redwood Credit Union. RCU is a trusted and community-focused credit union that offers banking services to over 300,000 members. Adrian joins our host Josh DeTar to discuss the power of technologyin helping their members achieve their financial goals.
What’s one of the most significant value propositions that credit unions bring to the table? According to Adrian, it’s the personal touch. “It’s the ability to relate to the member on a very deep level and the ability to gain their trust and get them to open up.” Throughout this thought-provoking episode, you’ll hear Adrian and Josh discuss many burning topics. From the importance of humanizing the digital banking experience to the challenges of competing with big tech companies.
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⚡ What’s the most significant advantage that credit unions have over other financial institutions? Although there are many benefits of credit union membership, putting their members first is what makes them stand out. Adrian talks about his personal experience that changed the way he looks at finances. It was at that moment that he realized the power of credit unions.
“One of the value propositions that credit unions […] bring is it’s the personal touch. It’s the ability to relate to the member on a very deep level and the ability to gain their trust and get them to open up.”
⚡ The confetti moment: Leveraging animation to improve customer experience. Adrian talks about the confetti moment that Redwood implemented into their app to humanize the customer experience and create a more emotional bond. The confetti moment is an animation that appears after a customer completes a transaction.
“A checkmark will appear in the center of the screen, and then brand color confetti will rain down from the top of the screen and the word ‘successful’ comes up, and it’s about a five-second animation, and then it just fades away, and you have the more traditional confirm page.”
⚡ Consumers want security, but they crave convenience. Convenience is more important than ever, especially with so many choices out there. Adrian talks about the importance of keeping credit union members safe while delivering convenience. Financial institutions need to find a way to provide both of these for their users. “Your members, no matter how much they love you as an institution, do kill time in your digital banking platform becuase they love it so much. No matter how good it is, no matter how many confetti moments it has, the bar is set by the major tech players.”