October 9, 2023
4 Online Banking Features Your CU Members Expect
According to HubSpot, the maximum time it should take for a website to load is 5 seconds. If a site takes longer than this, the conversion rates drop by an average of 4.42% with each additional second of load time. These statistics should give you a good idea of what your CU members expect from online banking. They expect to log in and complete their financial tasks as quickly and simply as possible, and if they can’t with your online banking portal, they will do their banking with someone else.
Here are four online banking features your CU members expect:
Minimal
Your online banking should provide a single sign-on option. Your members don’t want to have to log in to each step of their banking process. It adds time and hassle to an already tedious task. If your credit union’s core processor doesn’t allow for single sign-on, it might be time to look into a more modern and minimal core processor – such as Sharetec!
Simple
When your members log in to online banking, they should be able to quickly find what they’re looking for. By providing a simple, user-friendly interface, you’re ensuring that all banking tasks are immediately and easily accessible. Your online banking homepage should feature the basic starting points and exclude any extra information or secondary steps.
Quick
Your members need to get their banking done as quickly as possible, so they can get back to their work and personal lives. Having minimal steps and a simple user interface makes the online banking process quick, but members also want the actual transactions to be prompt as well. Whether it’s moving money from one account to another, depositing a check, or paying a bill – your members expect an almost immediate exchange.
Secure
What good is convenience and ease without account security? Your members need to know their financial information and assets are safe with your institution. Any updates or improvements to a credit union’s online banking platform must follow the most sophisticated and up-to-date security measures.
In order to compete in today’s financial landscape, it’s imperative that your CU partners with a modern, innovative core processor. If your current online banking platform isn’t up to snuff, consider a core conversion to Sharetec, where our caring, supportive team will guide you every step of the way, and will ensure your credit union continues to win! Schedule a demo here: https://www.sharetec.com/contact-us/