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One common misconception about digital banking is that customers no longer desire in-person bank interactions because they can get everything they need from their phones. However, the opposite is true, as a PwC survey found that 60% of traditional bank primary customers say it’s important to have branches in close proximity.

Each year, Temkin Group releases its Temkin Experience Ratings, which serves as a customer experience benchmark for the banking industry. In the 2018 rankings, credit unions tied for the top spot based on scores in three categories: success, effort, and emotion.

Credit unions’ membership business model, favorable rates, and flexibility all make them appealing to consumers. But, in the age of instant gratification and digital customer proximity, it’s important for credit unions to adapt to new customer experience (CX) approaches so they can maintain member loyalty.

Mobile marketing used to be a rarity, something that would set a business apart among its competitors. Not anymore. Now, mobile is necessary for maintaining a strong presence or implementing a successful marketing strategy in any industry.

In 2017, smartphone unit shipments didn’t increase for the first time ever, as market penetration was maximized. Not only that, but consumers are now spending approximately 3.3 hours a day consuming digital media on their mobile devices. It’s been a long time since phones were only used to make calls or send text messages.

You can’t afford to miss opportunities to reach your customers where they spend so much of their time. Consider these tips for revamping your mobile marketing strategy to remain competitive in the digital age.

For retail banks, customer acquisition costs are high, and often don’t generate a positive business return. In fact, more than 40% of new customers will churn before costs are recovered, resulting in a negative value for the bank. This puts a lot of pressure on banks to make sure their customers are hooked from the get-go. The customer experience starts with onboarding, and the first 90 days can make or break your customer relationships.

There’s a lot that goes into making your onboarding program as effective as possible. Keep these seven steps in mind to ensure your customers stick around for the long run.

Credit unions face an array of challenges when it comes to keeping up with the latest technology trends. From growing member relationships with the latest online and mobile solutions, to keeping those same members protected from cyber attacks, credit unions have a lot of technology balls in the air.

Here’s the top five technology trends that have an almost-daily impact on credit unions.