By now I’m sure many of you are recovering from the biggest shopping day of the year only to be hastily preparing for the next weeks of the holiday shopping season. The holidays are not just an opportunity to drive meaningful transaction volume but also a chance to see firsthand how technology is reshaping the consumer landscape. It is expected that half of holiday shoppers will buy via mobile devices this year and the majority of millennials and GenXers won’t even visit a brick-and-mortar store. Times are certainly changing and it’s a new landscape for payments and financial providers.
At CO-OP, we know the key to winning our members’ business and trust in the digital age is a member-centric strategy. By meeting and exceeding our clients’ expectations at every interaction, we can build the sort of long-lasting relationships that has always defined credit unions. Today’s consumers want to “have it all” - they want seamless payments, personalized experiences and superior service, all without sacrificing security. They are not partial to any one payment method or channel, but instead want an omni-channel experience delivered through an integrated ecosystem. More importantly, as our member journey research revealed, they demand a consistently exceptional experience across every interaction and are highly sensitive to bad ones.
Pleasing today’s member is a tall order, and there are no shortage of new fintech startups and other competitors ready to take some of our payments market share. Success for the credit union movement will mean working together towards a unified vision of digital transformation.
CO-OP’s role is to provide you with the tools, insights and service you need to help achieve that vision. Here are some of the major things we are working on to make that happen as we head into the new year:
Security and Simplicity through MyCO-OP
Seamless transaction experiences for members starts on the backend, which is why we were excited to launch MyCO-OP earlier this year. Offering secure, universal access to CO-OP applications through a single portal has helped our clients save hundreds of hours while ensuring the safety of their data through multi-factor authentication features. Now, as we prepare to rollout MyCO-OP to all of our processing clients in the near-future, we look forward to bringing these benefits to more CO-OP clients.
As we approach all of our technology solutions with iterative and agile development, we will roll out additional features such as advanced reporting and analytics, as well as access to API resources within MyCO-OP. We are excited about the progress made this year within this new flagship solution and look forward to the continual progress to be made as we had into 2019. If you would like to learn more about MyCO-OP, please contact your Client Business Executive.
COOPER Fraud Analyzer Coming Soon to Shared Branch Network
As the COOPER Fraud Analyzer pilot period continues, we are looking forward to rolling the fraud detection solution out across the entire CO-OP Shared Branch network in early 2019. The introduction of COOPER signals the beginning of an ongoing effort to leverage the power of data to drive the future of fraud detection, enabling a greater, more secure experience for the members you serve.
Helping You Seize Every Opportunity
The opportunities presented by rapidly evolving technology never rest, which is why THINK has become a year-round thought leadership platform. At THINK 18 and our CO-OP Roadshows, we charted our collective path towards digital transformation. Now THINK 19 will be focused on giving you actionable strategies that you can begin implementing immediately. I am really excited for the keynote speakers we’ve announced so far: Seth Godin, Jose Andres, Amy Purdy and Omar Johnson. Each of them has a unique story of innovation and perseverance that will be relevant to our journey as a credit union movement.
If you haven’t yet registered for THINK 19, I want to remind you to take advantage of our special ”Giving Tuesday” promotion – 40 percent off of the full registration rate - which ends tomorrow. And in the spirit of “people helping people” for every Giving Tuesday registration using the promo code GIVING19, CO-OP will donate $100 to CUAid to provide relief to employees and members impacted by recent natural disasters. Register Today (promo code: GIVING19)
As we get ready to close out 2018, I remain excited and optimistic about the future of the credit union movement. Together we have the knowledge, technology and determination to meet and exceed our members’ needs now and in the future.
Todd Clark, President & CEO