To increase online banking efficiency USAlliance Federal Credit Union has partnered with cross-selling technology provider Micronotes.
The “Microinterview” dialogue box improves the yield of online real estate by replacing banner ads with an automated advisor. The tool uses an 18-second-long conversation with the consumer to gather individualized feedback about their banking needs such as mortgages and car purchases. It ultimately yields a personalized offer that is automatically routed to a product specialist for follow-up.
As USAlliance continues to focus on
Microinterview helped interview 15% of the software users compared to a typical 0.1% click-through rate, converted 50% of interviewees into warm leads that resulted in 1,098 qualified leads, and converted 8% of loan product leads to sales, according to USAlliance findings.
The Cambridge, Mass., credit union market-tested the Micronotes cross-sell technology through a series of one-month digital marketing campaigns targeting roughly 12,000 online banking customers.
USAlliance manages $800 million in assets and serves more than 60,000 members across the country. And it sees “enormous opportunity in deepening existing customer relationships through the digital channels,” said CEO and co-founder of Micronotes, Devon Kinkead, which is why cross-selling technology is a good fit that replicates the in-branch analytics of a customer’s financial needs that results in a relationship-based offer, “all in a few seconds.”
