Royal CU’s newest employee gets a boost from a growing AI-driven fintech
Integrating a second fintech solution meant wish granted for Royal Credit Union
Chatbots are an increasingly popular credit union tool. They are a cost-effective, member-friendly way to provide access to transactional and static information 24/7, deliver operational efficiencies to members and staff, and provide a critical lifeline when call centers and branches are not available. Consumers tend to be receptive to chatbots for basic requests—as long as the technology is helpful and they don’t feel like they’re being sold a product.
But do you sometimes find yourself thinking, “I wish our chatbot could …
… help members investigate a better-fit credit card at your credit union.
… let a member whose auto loan is almost paid off know you have great rates on a new loan.
… promote investment services to someone with a high savings balance.
A desire to make even better use of their chatbot, “Val,” is what drove Royal Credit Union ($3.5 billion assets) in Eau Claire, Wis., to investigate better ways to leverage the technology. During a recent chat, Sundeep Kapur, founder of Digital Credence, asked Pam Haller, EVP – Chief Digital Experience and Marketing Officer at Royal, to share her thoughts on their journey and how a certain strategic partnership made “Val” an even more valuable Royal employee.
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