Visions Federal Credit Union, a New York-based non-profit financial institution with $5.6 billion in assets, has implemented a digital experience platform developed by Silicon Valley-based Finalytics.ai.
The vendor says the credit union has become “the first to provide each member with an authentic and tailored digital experience” from its platform.
Finalytics.ai says it applies real-time data, dynamic segmentation and machine learning (ML) to deliver relevant digital content for current and prospective members at a specific moment in time.
In the first three months of using the solution, Visions increased conversion rates more than 270%, it adds.
Furthermore, the credit union is utilising insights from the ML engine to identify additional and discrete market opportunities across the communities it serves.
“Humanising the digital experience is a strategic objective of ours, but we needed the tools and know-how to take action,” comments Thomas P. Novak, vice president and chief digital officer at Visions.
“Finalytics.ai has the expertise, technology and understanding we needed to move from a transactional experience to a thoughtful, personal approach on digital channels. It’s an integral part of how we can keep our long-standing reputation for service while supporting our goal to become a digital-first institution.
“We live in an age where well more than half of banking services are delivered digitally, so institutions that deliver digital experiences that meet or exceed the branch will carry the day.”
Established in 1966 and fully owned by its members, Visions serves over 230,000 members in communities throughout New Jersey, New York and Pennsylvania. It provides banking services as well as auto, home, personal and business loans.
Finalytics.ai is demoing its platform for the US credit unions at the FinovateFall conference (12-14 September 2022) in New York. The FinTech Futures team is there too, bringing you the most interesting stories from the event! If you are attending the conference, stop by our stand to say hi, pick up some cool merch and a free copy of the latest Banking Technology Magazine!