When Conexus Credit Union made the decision in 2010 to switch host banking systems, Conexus, like most financial institutions, was forced to put a freeze on any development to its current banking platform. For its web team in particular, this presented a serious challenge to their online retail environment where consumers expect a constant evolution of products, features and brand presence.
"We are well known in Saskatchewan as a progressive credit union. If we stagnated, our members would start to ask questions", says Donna Vidal, Web Services Administrator at Conexus Credit Union. "The banking system conversion forced us to be creative and find other ways to keep our online channel evolving."
With Central 1's MemberDirect® Integrated Services product roadmap in hand, the team at Conexus began to consider all options that did not require banking system development and created an action plan for new features, content and navigation.
Donna Vidal
Web Services Administrator
Conexus
"Our maintenance plan was to achieve quick wins by targeting the low hanging fruit that would fulfill our members' feedback and requests", says Vidal. The "maintenance plan", as Conexus refers to it, was an ambitious mandate to adopt many of the existing features of MemberDirect Integrated Services.
Acknowledging the growing importance of mobile banking, Conexus adopted two pivotal mobile features in 2010 which didn't require banking system changes. MemberDirect Mobile Services — Mobile Web was the first feature to be implemented. And since Conexus already offered Interac® Email Money Transfers (EMT) no banking system change was required to implement Interac e-Transfers either, and Conexus offered this feature to its members as soon as it launched nationally in 2010. With the addition of Interac e-Transfers, Conexus saw a notable increase in small value transfers. "Interac e-Transfer really resonated with our youth market, who were already big users of mobile web", explains Vidal.
Within Conexus' MemberDirect Integrated Services site, there were many additional changes. Conexus launched MemberDirect Direct Banking Alerts, which the credit union saw as an opportunity to familiarize its members with mobile alerts prior to the implementation of even more alert options once the banking system implementation was complete.
Conexus also soon launched MemberDirect Online Applications, which allow members to apply for accounts, loans and investments online. "We had consistent feedback from our members that they want to make applications online", says Vidal. "Online applications are routine for many parts of our members' day to day, and they might not be able to visit branches during business hours, so why not allow them to apply online at their credit union's website?"
Building on the launch of Online Applications, Conexus will soon be offering two new MemberDirect Selector Tools that members can use to compare accounts, and investment products. "Soon our members will be able to do their research and apply online, without having to visit a branch. It's a timesaver for them that takes the pressure off in-branch resources", says Vidal.
If launching these features wasn't enough, Conexus also refreshed its online banking site this year, complete with a new branded look, new content and improved navigation to make the online experience more intuitive and appealing.
Conexus offers its new features via its refreshed website
Finally, Conexus is also a champion for Central 1's new MemberDirect Single Sign On feature, which provides users the option to sign into their Credential Asset Management Inc. investment accounts through the credit union's website, without having to separately log in.
Wait a minute. Let's recap. Since June 2010 Conexus has implemented the following without any changes to the banking system:
While the number of new features is certainly ambitious, the guiding factor for the choice of features is straightforward according to Vidal. "It's all based on our members' feedback. While we'll consider any improvement that can be made without banking system changes, the litmus test is: does this fulfill a need expressed by our members? If not, we move the idea from the front to the back burner".
To find out more about the full range of features that can be implemented without banking system changes, please contact Central 1's Client Support:
e: client_support@central1.com
p: 877.762.5252
Central 1 Technology and Payment Services