Amplify Redefines Member Convenience with Mobile Banking Solution

With over a year of next generation mobile banking experience, Amplify FCU combines the best of browser-based and SMS capabilities to redefining convenience to the member.

 
 

 

 

Mobile banking fits perfectly with Amplify Federal Credit Union’s challenge to its members: “Bank less. Live more.” The Austin, Texas-based $401 million dollar credit union first implemented a “browser-based” mobile banking solution in April of 2006. With more than a year of experience with the technology, the credit union has a wealth of experience to share about how to combine the best of browser-based technology augmented with SMS for non-sensitive information. width=150


The credit union used its core competencies as a guidepost for the project. First, they strive to deliver impeccable customer service through all delivery channels—which meant they needed a powerful mobile service that would stand up to the challenge. Second, the credit union strives to deliver innovative products to meet the fast-paced, changing lifestyles of consumers—a particular challenge for Austin’s tech-savvy population. Third, for product selection and development Amplify makes a strong effort to use project management best practices. Finally, the team uses careful, on-going vendor management approaches to assure strategic partnerships thrive.

Amplify sees a number of advantages to browser-based mobile banking solutions. The solution is compatible with all wireless devices including cell phones, PDAs, Pocket PC, BlackBerries, and SmartPhones. The system does not require any downloads and it doesn’t require the user to be on a specific carrier or network. In deploying the new service, they also discovered that the available technology was surprisingly easy to bring to market –they accomplished the entire project end-to-end in just 30 days.

Amplify found that the browser-based system was also cost-effective for both deployment and on-going maintenance given an intuitive interface which minimized customer support calls. The credit union began with a “soft launch” which included information about the new service on their website and promotional materials in their branches but no other active marketing. Those efforts alone convinced 3% of their membership to use the service initially. After a full year in service, Amplify recently began a more proactive marketing of the wireless service earlier this summer.     

Amplify’s Mobile Service Capabilities Include:

Standard Functionality:  
  • View balances and transaction histories
  • Research and view cleared check images
  • Make transfers between the users own accounts or other accounts within the credit union.
  • Open new accounts
  • Bill Pay, including
    • Presentment
    • eBills
    • Review and Cancel Pending Payments
    • View Bill Pay transactions
  • Product information and Rates
  • Contact the Credit Union

Optional functionality:

  • SMS/Text Message Banking for balances and transaction history alerts
  • Location information including the ability to search for the nearest ATM
  • Branch Locators for both their own branches and the shared branch network

note: This article was reprinted from Callahan's 2007 Credit Union Technology Survey publication. Learn how credit unions are leveraging technology to redefine member convenience.


 

Interested in learning more about Mobile Banking? Check out Callahan's recent webinar: Is Mobile Banking the Next Breakthrough in Member Relationships? Featuring an in-dept presentations from Callahan & Associates Research, Amplify FCU, and Washington State Employees CU.

 

 

 

Aug. 27, 2007


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