Making face-to-face connections
Diamond Credit Union launches video platform for members
Diamond Credit Union launches video platform for members.
“The next generation, they’re growing up on smartphones. They will expect this type of delivery channel to be available to them. It’s out there, and we want to be on the leading edge of bringing that technology to our membership base.” — James F. Daly III, Diamond Credit Union chief information officer
LOWER POTTSGROVE » Diamond Credit Union recently implemented video conferencing technology designed to enhance and personalize its members’ experience when they apply for consumer credit products at branch locations.
The video platform is an expansion of Diamond’s “Loan Zone” concept. Customers applying for auto loans, credit cards and signature loans in one of the company’s branch locations now connect face-toface with one of the company’s centralized loan specialists.
The new technology adds a more personal relationship to the process.
Diamond had been using a remote teller system across its branches for about 10 years, according to James F. Daly III, chief information officer for Diamond Credit Union. That system connects members via a phone to tellers.
“That was kind of our first step into using video technology,” he said.
As the company began centralizing its operations — locating all of its lending officers into one facility — Daly said the company expanded its remote teller idea.
It created the Loan Zone in branches — booths where members were connected via phone to one of the consumer lending specialists.
While Daly said the concept was well received and efficient there was something missing.
“We kind of felt what kind of got away from us was the personal touch. It was a phone, so there was no face to face,” Daly said.
As the company looked to replace its aging telephone system a couple of years ago, Daly said the company looked for a new system that had video capability.
“The technology wasn’t exactly where we wanted it at the time, but we had our road map,” Daly added. “And fast forward to this year — we now have the solution developed that is working the way we wanted it to work.”
When credit union members go into a branch, they talk first with a Diamond representative to determine what they want to do.
“We verify their ID, take them to the loan zone and explain what the process will be. We help them get set up in the system then hand them off to the sales team representative,” said Chelsea Fry, Diamond’s director of retail delivery (branches).
Daly adds that while members weren’t specifically asking for the technology — it was the logical step for Diamond.
“The next generation, they’re growing up on smartphones. They will expect this type of delivery channel to
be available to them,” Daly added. “It’s out there, and we want to be on the leading edge of bringing that technology to our membership base.”
The new tool allows Diamond to develop a more personal relationship in a short period of time according to Paul Yacobowsky, Diamond’s director of sales.
“Years ago we would think when we were on the telephone — ‘wouldn’t it be nice to put a face with that voice.’ Now it is easily done,” he said.
Diamond Credit Union started working on the project in January, and completed the rollout in June. The company selected Vidyo as its partner to bring the integrated video platform to its members.
Diamond Credit Union installed the kiosk screens for the booths and added an extra monitor for each of the sales agents — dedicated to the video conferencing. The project was completed at a cost of “under $100,000,” Daly added.
While consumer lending was the first phase of the technology rollout, Diamond plans to extend it to mortgage loans in early 2018 and then to business services. The technology has also been used internally to connect the credit union’s employees.
“I think we’re just scratching the surface as to what it can really be. I think it can be a game changer looking forward for someone like us to enhance that member’s experience and to personalize it like it’s never been seen before,” Yacobowsky said.
So far, the response from customers has been positive. Since rolling out — an estimated 1500 video calls have been made using the system. And according to Fry, the video option has enhanced the experience for members.
“Where before we had just the phone and we were able to do a nice warm handoff to our sales team and make sure they knew why we were transferring them to a specialist,” Fry said. “Now they are greeted by someone they know is taking care of them. They are willing to open up a little bit more, share more information, get to know the sales team.”
Diamond Credit Union staff did require some training on the new technology. Yacobowsky said the agents needed coaching on body language and positioning, as well as making sure their eyes don’t lose focus with the client.
“We were able to do a lot of live skill practice with the sales team. An unexpected
bonus was greater communication and relationship building between the retail team and the lending center team,” Fry added.
For Diamond, being out in front on service and technology is important, according to Todd Rothenberger, chief marketing and retail delivery officer.
“We don’t want to be the first — we don’t have the resources. But we want to be quickly right after the first. We’re constantly evaluating where we should be with technology and other systems,” he said.
“A checking account is a checking account,” Daly added. “We want to find something that will make it better, faster, easier for members. We don’t want to be perceived as not having what customers want.”
With more than $573 million in assets and 160 employees, Diamond Credit Union serves more than 59,000 members in Montgomery, Berks and Chester counties through five branch locations. For more information about Diamond Credit Union, please visit diamondcu.org.
“Years ago we would think when we were on the telephone – ‘wouldn’t it be nice to put a face with that voice.’ Now it is easily done.” — Paul Yacobowsky, Diamond Credit Union director of sales