web mobile lending trends - cuna councilsweb & mobile lending trends. logistics • notebooks...
TRANSCRIPT
Web & Mobile Lending Trends
Logistics
• Notebooks• Cards• iPad give away
Agenda
• Fun and Interactive “jump in”• Statistics • Trends• Questions you need to be asking• Demos
I will…….
• Be excited• Talk fast• Challenge you‐ don’t be offended• Be here to help when this is over
Setting the Stage
• Remember who you are! – You are “The Man”
You Are……
• Decision Makers• The future of Credit Unions• Leaders• Culture Changers• Being sucked into this by your members ….
Trend Defined
Noun : trendplural noun: trends
1. a general direction in which something is developing or changing.
Statistics & “Quotes”
“In June 2011, the United Nations declared internet access a basic
human right.”
Wired, www.wired.com/threatlevel/2011/06/internet‐a‐human‐right/
Aeroplane Telephone Radio Television PC Internet iPod Facebook
68
50
38
22
14
7
3 2
Years Until Mass Adoption
Google Searches 2014
http://www.google.com/trends
http://www.google.com/trends/
“Banking is necessary; banks are not.”– Bill Gates
“Banking is no longer somewhere you go, its something you do.”
Brett King – Bank 3.0
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.
Information provided by D+H Benchmarks study for MortgageBot POS 2013
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.
“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
Get HR Involved
• Realize that the Credit Union of the future will be 80% IT and and remaining 20% will be everything else!
Your People
• Your “team” members are your members• Engage them• Let them lead your culture change• Apple‐ “Business rep Brook”
4 Phases of “Disruption”
• 1‐ Internet and Social Media• 2‐ “Screens” and App Phones• 3‐ Mobile Wallet• 4‐ Anyone is a Bank
Phase 1
• Internet and Social Media– Ratings and Reviews – Twitter, Instagram, Facebook
Results: Control and Choice
Phase 2
• Screens and App Phones– App based Mobile Banking– Simple‐ branchless bank
Results: Anytime Anywhere access
Phase 3
• Mobile Wallet– Apply Pay– Square Cash– PayPal
Results: Cardless and Cashless
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)
The Trends
• Removal of the “sales” intermediary• No more “Finance Guy”• No more “Account Officer”• No more “Mortgage Loan Officer”
Security?
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
Question #2‐ How will I execute?
• Build Your Own?• Hire a Vendor to build?• Allow third party to provide service?
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?
DEMO – The Web’s Latest
Web‐ HTML 5
Examples
• http://traveloregon.com/7wonders/• http://firstperson.is/#!/• http://liquidplanner.com
DEMO‐Mobile’s Latest
USA Mobile App
• Demo
You are “The Man”