Live Chat Proven to Decrease Cost and Increase Member Loyalty

Every credit union is struggling with how to provide better, cost effective online services to members. As online technology advances, Internet savvy members are sending a clear signal that they desire convenience and access to their information online with the ability to have instant responses to their questions.

 

By My Credit Union

 

Every credit union is struggling with how to provide better, cost effective online services to members. As online technology advances, Internet savvy members are sending a clear signal that they desire convenience and access to their information online with the ability to have instant responses to their questions. It is this need for instant online satisfaction that is making secure LivePerson Live Chat a natural addition to any online banking site.

American Airlines Credit Union (AACU) is a great example of an early adopter of LivePerson Live Chat (www.liveperson.com), using it to promote loan programs, support online customer service initiatives, and reduce emails and 800 calls to great success. The AACU was presented the prestigious award of Credit Union of the Year by the National Association of Federal Credit Unions for its use of LivePerson Secure Live Chat on its site, http://www.aaefcu.org/. To view the Case Study on the use of LivePerson Live Chat in American Airlines Credit Union site, please

Overview of Results of incorporating LivePerson Chat Solution on the AAFCU site:

  • Member chats with MSRs via LivePerson Live Chat resulted in a 20% savings in comparison to standard 800 number and international phone charges.
  • This low cost program also led to an increase in selling of additional services to members and resulted in a 15% increase in new member accounts.

  • Over the twelve months AAFCU offered chat there was a phenomenal growth of 65% increase in chats between the launch of the service through the end of 2001.
  • Over the same period, the AAFCU website traffic increased by 75% as members were encouraged to use LivePerson Live Chat as a customer service option.

"We wanted to increase the human element on our web site," says Carol Brown, Vice President, American Airlines Federal Credit Union. "We are striving to offer our members the same level of service online that they receive at a branch location. We accomplished many of these goals by enabling our site with LivePerson Live Chat."

Live Chat has proven to address the critical needs of credit unions by increasing loan applications and customer service to members, while decreasing customer interaction costs. In addition, responding to customer questions in real-time on the web site significantly enhances the online experience increasing customer loyalty.

"We anticipated that Live Chat would be a technology that credit unions would need to support their online business goals and invested in measures that would make our products secure and easy to use," says Robert LoCascio, CEO of LivePerson. "Having a credit union representative available to a member online in real time to respond to questions, makes the process convenient for the member and profitable for the institution."

Visitors to a credit union website can initiate a chat session by clicking an icon displayed on the web page. Clicking the chat icon opens a new window on the screen for the chat conversation. Initiating a chat conversation does not require any software download or plug-in installation on the visitor's side. This ensures that the visitor's local machine remains secure and is not exposed to security breaches. The LivePerson Secure Live Chat products also provide storage of all chat transcripts, making them easily accessible by authorized personnel for review. Operators can handle multiple concurrent chats (3-4) send visitors product info and applications in the chat conversation, and analyze their performance with the built in reporting capabilities. For after hour operations, when operators may not be online, the Live Chat platform captures and routes the emails to be addressed the next day.

"No other real-time product is as feature rich, cost effective and easy to deploy and use as LivePerson Chat," adds LoCascio. "The fast adoption rate of over 2,500 customers validates this claim."

LivePerson Live Chat fits into any size credit union platform:

  • All transactions (chats) are 128 byte (SSL) encrypted
  • Chat Transcripts are stored in a searchable, auditable database in compliance with current SEC regulations (SEC rule 17a-4)
  • The LivePerson platform has successfully completed an SAS-75 Security Audit
  • Installation can be completed in under one hour and the product is completely scaleable to meet demand
  • Data from the application (chat transcripts) can be integrated with other credit union platforms or CRM systems.
  • The only product in the market that combines real-time site monitoring and analysis capabilities with real-time chat.

LivePerson also offers cost effective solutions to:

  • Collect, manage and respond to email inquiries with a secure email platform.
  • Organize and present Frequently Asked Questions (FAQ's)
  • Organize and present product material, applications and company literature with a document system.

For more information on LivePerson Live Chat, click the LivePerson button below.

This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.

If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at ads@creditunions.com or 1-800-446-7453.

 

Jan. 28, 2002


Comments

 
 
 
  • awesome product
    Anonymous
     
     
     
 
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