technology … partnerships between credit unions and fintechs like Engage , Solaris ’ community banking division , are evidence that this could change ”.
This change may be further along than many think , particularly at credit unions . In the US , MSU Federal Credit Union ( MSUFCU ) recently launched an AI-driven chatbot , Fran , but rather than replace face-to-face customer service , MSUFCU ’ s Chief Digital Strategy & Innovation Officer , Benjamin Maxim , says technological initiatives are being employed to augment – not replace – the customer experience .
“ Our approach now is combining digital and human service , to create an experience that is both digital and human . Look at the pandemic . We all learned how to use video technology because it was the only choice ,” adds Maxim .
“ Well , we now have a video banking solution , to more easily connect our members to our employees . This is how we combine technology to better serve and connect with our members , not distance ourselves .”
A similar approach is being taken at Credit Union of America , which is trying to instil an omnichannel approach to customer services .
Its Chief Information Officer , Jon Douglas , says : “ We ’ re trying to bring in technology , utilise and build that technology so that the member that comes into the branch and the member that does things online have the same experience with us , regardless of how they interact with us .”
And , at Virginia-based Farmers & Merchants Bank , the mission is to leverage technology to upgrade back-end systems as well as on the customer-facing side .
The bank ’ s Chief Experience Officer , Charles Driest , notes : “ The future is technology and people , that ’ s what is going to win the day , not one or the other .
“ This is where community banks have a huge advantage , particularly when we are so close to these communities , we provide the human element that AI misses . AI cannot , or has not yet at least , been taught human empathy .” fintechmagazine . com 59