The Convenience Economy
The financial services landscape is changing faster than ever. This so-called “disruption” isn’t self-generated; it has a cause. It’s consumers and their growing reliance on technology to manage their hectic lives. The power that tech has given the consumer has elevated convenience as a key factor in today’s economy.
Latest Articles
Is There a Cost to Convenience?
Building a Staff for Today's Convenience
The Convenience Economy
Deliver a Convenient Employee Experience
Previous Articles
Data Analytics In Action
August 28, 2017
It wasn’t long ago that credit unions learned of their members’ needs and expectations by talking with them when they visited the branch. But as technology has infiltrated our lives, and branch visits have given way to the convenience of online banking and mobile apps, that key source of customer intelligence is disappearing. How do you know what your customer wants?
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Know Your Data Know Your Member
July 13, 2017
As the convenience economy continues to rapidly empower consumers with technological wonders to manage their hectic lives, businesses are struggling to keep up. Historically, companies have studied data to make business decisions based on what happened in the past. Today, however, they are realizing that the vast amount of data at their fingertips can enable them to make decisions based on what may happen in the future.
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The Convenience Economy: How Members Are Driving Innovation and Changing Your World eBook
June 15, 2017
Consumer demand for convenience is fueling an unprecedented explosion in technology, filling the need for products and services that make our lives easier. Recognizing and addressing this reality can position your credit union to meet member expectations and achieve your strategic goals.
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Analyzing Your Opportunity With Data
June 13, 2017
Delivering a great member experience in a tech-centric economy is a never ending process. But think of all the data generated as your members swipe, click, and digitally manage their finances. This treasure trove of information is an invaluable resource to gaining a deeper understanding of their behavior.
The Convenience Economy and the Rise of Data Analytics
May 25, 2017
Meeting members’ growing demand for convenience is dramatically changing how they do business with you. But in today’s convenience economy, don’t make the mistake of thinking that only the member benefits from a streamlined, digital experience.
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Delivering Convenience is Anything But Easy
May 3, 2017
Members want to do business when, where and how it best suits their lives - not around your office hours or locations. You may think the loyalty your relationship is based on is stronger than the appeal of competitors. But loyalty only gets you so far - at some point convenience becomes more important.
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5 Emerging Risks of the Convenience Economy—and How to Mitigate Them
March 29, 2017
Consumer demand for convenience is driving rapid advances in technology, which both your members and employees use to manage their busy lives. The downside to today’s convenience economy is greater risk. Here are five emerging risks you should have on your radar, and steps to take to mitigate them.
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As Car Shopping Gets More Convenient, Lending Gets More Difficult
March 14, 2017
Car buyers today have much more control over the process than ever before, from researching vehicles to comparing dealer pricing. This same control applies to financing the vehicle. If your lending process isn't convenient, borrowers will simply find a better option.
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5 Reasons to Make Convenience a Strategic Priority
February 22, 2017
Consumer demand for convenience is impacting the customer experience like never before. Consider these five reasons why your success may well depend on how convenient it is for members to do business with you.
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Convenience is Driving Our Lives And Your Business Model
February 9, 2017
The Convenience Economy explained: "Life's busy. Now I can just hit my thumbprint on my phone, and that takes me right into my online app. And now I have everything I could want -- one, two, three -- laid out for me." Learn more from Raffo Wimsett, Campus Relations Partner at Commonwealth Credit Union in Kentucky in this short video.
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Succeeding in Today's Convenience Economy
January 25, 2017 Consumer demand for convenience is driving unprecedented advances in technology. In this climate of convenience, businesses that simplify the customer experience are succeeding. As the dynamic of the credit union/member relationship continues to shift, here are three considerations to meeting your members’ expectations.
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