web mobile lending trends - cuna councilsweb & mobile lending trends. logistics • notebooks...
TRANSCRIPT
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Web & Mobile Lending Trends
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Logistics
• Notebooks• Cards• iPad give away
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Agenda
• Fun and Interactive “jump in”• Statistics • Trends• Questions you need to be asking• Demos
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I will…….
• Be excited• Talk fast• Challenge you‐ don’t be offended• Be here to help when this is over
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Setting the Stage
• Remember who you are! – You are “The Man”
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You Are……
• Decision Makers• The future of Credit Unions• Leaders• Culture Changers• Being sucked into this by your members ….
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Trend Defined
Noun : trendplural noun: trends
1. a general direction in which something is developing or changing.
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Statistics & “Quotes”
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“In June 2011, the United Nations declared internet access a basic
human right.”
Wired, www.wired.com/threatlevel/2011/06/internet‐a‐human‐right/
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Aeroplane Telephone Radio Television PC Internet iPod Facebook
68
50
38
22
14
7
3 2
Years Until Mass Adoption
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Google Searches 2014
http://www.google.com/trends
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http://www.google.com/trends/
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“Banking is necessary; banks are not.”– Bill Gates
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“Banking is no longer somewhere you go, its something you do.”
Brett King – Bank 3.0
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D+H Benchmarks 2013
A study of online mortgage lending • With over 1,100 clients using Mortgagebottechnology to support over 8,300 websites, D+H is uniquely positioned to conduct this research.
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Information provided by D+H Benchmarks study for MortgageBot POS 2013
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Online & Mobile Lending
• You have to utilize this technology elegantly or you will miss opportunities and be at a significant disadvantage. Consumer perception and experience is becoming more important than rates or fees.
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“If you aren’t introducing innovations into the customer experience at the same rate at which customers are adopting these new technologies, you are at a considerable disadvantage and risk losing your customers as more agile intermediaries and third parties capture the benefit of the innovation. Justifying your slow innovation because you are “the Bank”, “we’re a heavily regulated industry”, or your legacy system/processes won’t allow it just doesn’t cut it anymore.”‐Brett King, Bank 3.0 pg. 29
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Get HR Involved
• Realize that the Credit Union of the future will be 80% IT and and remaining 20% will be everything else!
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Your People
• Your “team” members are your members• Engage them• Let them lead your culture change• Apple‐ “Business rep Brook”
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4 Phases of “Disruption”
• 1‐ Internet and Social Media• 2‐ “Screens” and App Phones• 3‐ Mobile Wallet• 4‐ Anyone is a Bank
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Phase 1
• Internet and Social Media– Ratings and Reviews – Twitter, Instagram, Facebook
Results: Control and Choice
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Phase 2
• Screens and App Phones– App based Mobile Banking– Simple‐ branchless bank
Results: Anytime Anywhere access
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Phase 3
• Mobile Wallet– Apply Pay– Square Cash– PayPal
Results: Cardless and Cashless
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Phase 4
• Anyone is a Bank– The car buying experience will integrate the financing and we won’t need to see the finance guy at all
Results: Pervasive and Ubiquitous(definition= present, appearing, or found everywhere)
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The Trends
• Removal of the “sales” intermediary• No more “Finance Guy”• No more “Account Officer”• No more “Mortgage Loan Officer”
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Security?
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Question #1 –Where do I start?
• Do you have a culture of innovation in your leadership team? Board, Executives, Management?
• Who is your current member? Are they profitable given your new model?
• Decide you have to innovate‐regardless of phase
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Question #2‐ How will I execute?
• Build Your Own?• Hire a Vendor to build?• Allow third party to provide service?
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Question #3‐ Do I have the right tech?
• What direction is my core provider going in?• Does their DNA align with our direction?• How much “new” tech do I need to reach the next innovation goal?
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DEMO – The Web’s Latest
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Web‐ HTML 5
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Examples
• http://traveloregon.com/7wonders/• http://firstperson.is/#!/• http://liquidplanner.com
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DEMO‐Mobile’s Latest
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USA Mobile App
• Demo
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You are “The Man”