Community Chair

Top Digital and Mobile Banking Technologies

With an increase in the technology trend and customer demands, it is essential for banks and credit unions to have a digital platform that can help them to manage their funds, financial transactions, and interactions with their customers. With the evolution of the “Digital Era" - customers find themselves more comfortable and satisfied with anywhere anytime banking options. To increase the customer satisfaction with convenient and straightforward banking services and to stay competitive in the financial market, your credit union needs to provide mobile and digital banking solutions.

The key innovations that should be there in your digital banking technologies include Virtual Banking - that provides end-to-end services through digital platforms like mobile, tablets and internet., Artificial Intelligence (AI) - that provides personalized services to your customers keeping their requirements in mind, Biometric Technology  to secure the accounts of your members, Blockchain Technology for safe fund transfer and Robotics that automates your repetitive actions, that are rule-based and requires less human judgement.

Keeping these innovations in mind and helping out your credit union to stay in a competitive market, we have brought you few Mobile and Digital Banking Technologies that might also increase your customer satisfaction rate.

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1.ChannelNet

ChannelNet offers a credit union a powerful personalization platform to drive higher engagement and loyalty. A vital benefit of OneClick Financial we become an extension of your marketing team. As a result, credit unions can deploy relevant content and functionality that gets updated quickly, run A/B tests on promotions, receive leads delivered daily with member's behaviors, and receive monthly analytics to drive further business intelligence insight.

It is a cost-effective platform that provides a trove of data for marketers to engage better, retain and target with products and services that best meet their members' financial life.

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Here are some of the features that ChannelNet offers to its clients-

  1. Digital engagement platform designed specifically for credit unions.
  2. Easy integration with credit union data feeds, IT Team resources, and external integration of third-party API sources.
  3. Dynamic data-driven personalization platform that delivers relevant content at the right time.
  4. Lead generation is tracked, delivered daily to the credit union, allowing for follow-up, retargeting, and measuring ROI.
  5. OneClick uses data analytics, propensity scores, personas, behavioral, and transactional data models within the digital engagement platform.
  6. Creative and analytics teams review personal web pages regularly to make suggestions to increase performance.

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2.Alkami Technology

Alkami technology focuses on delivering eBanking solutions to banks and credit unions. It is a cloud-based digital banking platform that provides facilities like retail and business banking, mobile banking, easy bill payments, person to person payments and personal fund management among other services.

Alkami platform comes with a software development kit (SDK) and API set that allows you to customize your interface and lets you build your own apps and widgets. You can also easily integrate new features into your self-made modules that can help you serve your customers in a better way.

 

 

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Features

  • Advanced features such as P2P, card controls, alerts, account aggregation, rewards, shared access, PFM, analytics lets you move beyond the traditional banking and enhances your retail banking experience.
  • Integrated business banking features allow you to manage your business operations like management of payroll, wires, and payments efficiently. Even if you are a small or medium-sized organization, this feature will help you.
  • Alkami allows you to keep your platform up to date by notifying and providing you with the latest updates as soon as they are released. You only need to activate them according to your convenience.

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3.Bankjoy

Bankjoy is an online banking platform that provides solutions like mobile banking, conversational AI, Online Account opening and Online Loan Origination to your Credit Union. It lets you deliver many banking services such as bill payment, check deposits, money transfer, and travel notifications, along with lost and stolen card blocking options at your fingertips.

Bankjoy is a unique mobile banking platform that offers your organization, ability to brand its application and make it their own, using their logo and color scheme. Additionally, your Credit Union can host it on its own, or Bankjoy could host it on its secure cloud platform, where it offers 24/7 monitoring and support.  

 

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Features

  • Bankjoy features inbuilt financial goal management that would help your account holders track and manage their personal goals.
  • Online Account Opening Solution makes it easy to open new accounts at home, on the go, or in the branch. It only takes 90 seconds or less using modern ID verification
  • It allows you to deliver all the banking services at your customer’s fingertips, providing them with user-friendly banking experience.

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4. CU Answers

CU Answers provides you with an online banking Solution - “It’s Me 247”. It is a fully featured mobile banking app that is primarily designed for Credit unions so that they can provide various banking and financial services to their members. It is a free Mobile Banking App that offers customization options for your credit unions, which can insert ads, links, and logo and branding options.

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It’s Me 247 mobile app by CU Answers, lets you deliver services like management of account balances and other fund details, fund transfer, bill payment and loan application among others to your Members.

Features

  • It is a secure platform that detects fraud activities at one click.
  • It is a user-friendly app that can smoothly run on multiple devices.

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5. Constellation

Constellation is a digital platform that is a Credit Union Service Organization (CUSO) which is designed to create and deliver a complete suite of digital financial services dedicated to credit unions that will allow credit unions members to choose specific services for a secure banking experience. The platform enables a new service-based economy where developers can create tiles or services and then credit unions can seek out and select those services within the marketplace.

Constellation is a secure and flexible cloud-based marketplace that enables upper to mid-tier credit unions to deliver safe, reliable, and next-generation digital financial service experiences while giving the freedom to compete, innovate, and thrive in the financial services industry.

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Features

  • Constellation provides a digital platform to Credit Unions through which they can quickly deliver their services to their members.
  • Constellation offers a safe and secure platform that allows your credit union to provide your members with innovative digital features and services to help them reach their goals.

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6. NCR - Digital Insights

Digital Insight - acquired by NCR corporation is a  provider of online banking software to banks and credit unions. It allows you to deliver your digital services effectively and with ease, using a single administrative platform and ensure success with implementations, training, marketing and analytics support.

Digital Insights platform includes features like additional multitasking, split-screen capabilities and the ability for users to view their account balance without needing to log directly into the Mobile Banking App. These features would help your Credit Unions to deliver best possible financial services to your members making their everyday banking tasks quicker and more straightforward.

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Features

  • Digital Insights provides you with a single platform through which you can deliver all the required products and services.
  • It lets you analyze your performance by measuring the interests of your members so that you can strategize your future growth.

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7. Q2

Q2 is a digital banking solution that aims at providing your community-focused financial institutions with a one spot solution for delivering all the banking services. Through the Q2 platform, you can deliver online, voice or mobile banking services from anywhere, at any time and through any device.

The Q2 platform comes with robust features set for managing payments, entitlements, reporting and more that delivers a user-friendly banking experience. It drives the success of your institution by improving account holder retention and creating additional service opportunities.

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Features

  • Q2 provides a set of inbuilt security tools that identifies anomalous transactions and stop them before funds ever leave your institution.
  • Efficiently analyze the activities and interests of your account holders and customize your platform accordingly.
  • Single design platform allows you to keep a consistent user experience for your members even when they are using their choice of device.

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8. Wescom Resource Group

Wescom Resource Group is a subsidiary of Wescom Credit Union that operates as a CUSO. It provides software services solutions to the Credit Unions. Among its various technical services, it offers Symmetry - an online banking platform created for credit unions through which they can provide a central hub to their members to manage their financial services.

Built on the foundation of MemberEdge Online and Mobile Banking, Symmetry eBanking provides a migration path for members to expand their digital services to meet the needs of today’s credit union members. Symmetry supports fully responsive HTML page designs and provides cross web browser feature. You can access this platform through multiple devices, be it the computer, phone, or tablet.

 

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Features

  • Symmetry platform lets your credit union deliver services such as ACH transfers, integrated bill payment, and multiple account access.
  • You can contact your members and have their feedback directly through a secured messaging and live chat feature.
  • Symmetry platform also lets you notify your members about the payment due dates automatically.

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CONCLUSION

These are some of our chosen technologies for Digital and Mobile Banking services. These technologies will help you to provide your members with almost all the banking facilities in a click of a button. They will help you mold according to the way your bank or credit union interacts with customers and members.

 

Disclaimer-: These technologies are selected on the basis of our experience (around usage support, administration, integration etc.) as well as anecdotal conversations with multiple leaders in the industry.  

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