3 Ways to Sprig Into Action

October 15, 2014 Bill Prichard

10-15-14_SprigWith so much activity happening in the payments space, chances are good that you’ve spent much of the last month or two thinking constantly about your members’ payment needs.

But what about your needs?

That question may sound obnoxious, but the concern behind it is valid. In the past several weeks on Insight Vault, we’ve talked at length about integration and speed, including consumer interest in real-time payments. How can your credit union act on these trends?

Coming up fast: CO-OP will be introducing new ways for credit unions to activate Sprig, CO-OP’s mobile shared branching and payments app. What’s new?

  • Real-time, pay-anyone P2P on the Sprig by CO-OP mobile and online apps;
  • Sprig White Label, a brandable, configurable mobile app that also includes real-time P2P, and
  • P2P API, a standalone real-time payments feature that integrates with your apps.

Of course, the launch of real-time P2P payments is bound to be a huge development for your members. With the recent announcement of Apple Pay, consumers are more curious than ever about mobile payments.

Delivering new mobile capabilities – now, while interest is high – is a huge challenge for credit unions. And it’s not just the conceptual hurdles that get in the way. Is new technology easy for you to implement? Does it integrate with your existing systems and strategy? Is the process of acquiring it simple and fast?

Credit unions must contend with their own need for speed. Demand for new technology, faster processes, omnichannel access and instantaneous money movement is not only intense but relentless. Finding products – and partners – that help make fast work of meeting member needs is the real call to action.

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