MADISON, Wis.–The Filene Research Institute is piloting a new tool that seeks to address a challenge common to all credit unions: onboarding.
“The early days of a new member relationship offer a small but significant window of opportunity for greater emotional and financial engagement,” said Filene in a statement. “Our research shows new member onboarding, particularly from the online channel, is a challenge. A strategic onboarding approach can be elusive. Left unmanaged, the impact of the most unprofitable and disengaged members can over time eclipse the positive contributions of the most profitable ones.”
In response, Filene is rolling out “Onboardability,” which it describes as a member communication and targeted messaging platform that can kick start member engagement and loyalty. “Optimized for desktop and mobile, Onboardability offers an automated, cross-channel, white-label onboarding experience that will delight your members and boost your bottom line,” Filene said.
Filene added that successful onboarding strategies are complex and can be difficult to map out, and that Onboardability's targeted approach delivers right-time, data-driven messages and hits the four effective stages of onboarding a new relationship: Welcome and Introduction; Usage and activation Cross-Sell Opportunities, and Loyalty and Retention.
For more info: www.filene.org