Elevating the credit union member experience with custom AI solutions

A focus on and commitment to members is central to what makes credit unions truly special. However, staffing shortages have put that member-centric approach under immense strain, contributing to operational inefficiencies, errors, and inadequate support.

For overextended credit union teams trying to "do more with less," the consequences of staffing shortages can directly undermine the member experience.

Especially when it comes to delicate financial matters, overstretched representatives simply cannot provide the level of empathetic communication and education members deserve.

But a new era has arrived - the era of AI and machine learning (ML) in consumer finance.

Redefining productivity through empathy

Too often, productivity metrics for member service reps have been narrowly defined by surface-level factors like call volumes and handle times. While those are important data points, AI enables a more holistic view of productivity centered on cultivating quality relationships and driving valuable outcomes.

Unlike previous tech solutions, modern AI is equipped to intelligently automate repetitive back-office tasks like after-call notes, QA audits, and compliance checks. 

With AI handling those responsibilities, your teams can be laser-focused on building member rapport, educating them about options, and finding tailored paths to financial wellness. Celebrating shorter call times becomes counterproductive when it shortchanges the member experience, which is so important to credit unions.

Improving the member experience through personalization

Even more powerfully, AI can analyze enormous datasets to pinpoint member pain points and design tailored solutions. 

"Top of mind for us is hyper-personalization," says Harsh Pareek, ML Lead at Prodigal, the  pioneer in consumer finance AI. "How can we make experiences for members that respond uniquely to their journey?"

With the right consumer finance AI platform, Netflix-style hyper-personalization is possible - from predicting ideal contact times to generating customized settlement offers based on an individual's financial profile and life events.

While large banks might be using AI in hopes of eliminating customer service representatives, credit unions can use it to double down in the opposite direction - reinforcing their commitment to their members.

The future of member experience driven by AI

By investing in purpose-built consumer finance AI solutions, credit unions can overcome the staffing shortages and deliver the service their members deserve. 

AI built for consumer finance conversations like the ones you have with your members every day provides intelligent automation to ease operational burdens while surfacing member insights that enrich every interaction.

As major financial institutions increasingly tap AI to streamline processes, credit unions have an opportunity to get ahead of the curve and reaffirm their commitment to empathetic personalization.

With AI's assistance, your member service philosophy can finally be brought to its full potential.