The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your own advisors with questions regarding the digital account opening content herein. The opinions expressed in this article are the opinions of the individual authors and may not reflect the opinions of MeridianLink, Inc.
Originally published on CUInsight.com
Summer’s finally here. The playlist is ready, snacks are packed, and the open road is calling. But one wrong turn, a glitchy GPS, or a car that won’t cooperate, and suddenly, your trip hits a bump. Excitement fades into frustration. Plans shift. And someone’s already eyeing an alternate route.
That’s exactly how members feel when your credit union’s digital account opening experience breaks down. Whether it’s clunky navigation, slow load times, or outdated workflows, frustration can send them looking for a smoother, simpler ride. And today, there’s no shortage of alternatives offering just that.
In fact, while 79% of Gen Z and 69% of millennials currently use big banks, nearly half are open to switching to a credit union. That’s your opportunity — if your digital application is seamless, responsive, and built for modern expectations.
So, what does building that experience have in common with planning the perfect road trip? More than you might think. Here are three tips to get you started.
1. Offer clear directions
A wrong turn down an unfamiliar road can quickly derail a trip. For your members, confusing forms, unclear instructions, or slow-loading pages create roadblocks that lead to frustration — and ultimately, abandoned applications.
Your digital account opening needs to act like a well-marked highway, guiding members smoothly from start to finish with clarity and confidence. The goal? Make every step easy to understand and effortless to complete.
Start by focusing on these member-facing essentials:
- Create an intuitive flow with clear visual cues. Use progress bars, arrows, and simple language to show members exactly where they are and what’s coming next. Consistent branding builds familiarity and reassures them that they’re on the right path.
- Reduce effort with smart application pre-fill. Automatically fill in information you already have, so members don’t have to repeat themselves. This convenience speeds up the process and keeps frustration at bay.
- Optimize every device for a smooth experience. A mobile-friendly interface with save-and-resume functionality allows members to apply whenever and wherever it suits them.
- Keep momentum high with instant verification and decisioning. Long waits kill progress. Real-time ID checks and automated risk assessments deliver immediate answers, helping members move quickly from application to account access.
2. Invest in a reliable vehicle
No matter how clear the directions are, if the vehicle isn’t reliable, the trip stalls. The same goes for your credit union’s digital account opening platform.
Behind every seamless member experience is a powerful, dependable technology engine. Slow load times, glitches, or outdated systems don’t just frustrate — they damage trust and send members looking for better options.
To keep your digital journey running without a hitch, invest in a platform built for speed, stability, and integration:
- Seamless system integration to power real-time insights. Your technology should unify workflows and connect data across departments. This can eliminate manual handoffs, accelerate application processing, and reduce drop-offs, keeping your credit union agile and responsive.
- Cloud-based infrastructure for flexibility and scalability. Cloud platforms deliver consistent performance, automatic updates, and robust security — all without the downtime or maintenance headaches of traditional systems. This means your credit union can adapt and grow without missing a beat.
- Open compatibility with best-in-class third-party tools. The right platform works seamlessly with fraud detection, identity verification, credit reporting, and compliance partners. This flexibility allows you to innovate quickly and meet regulatory demands without costly overhauls.
3. Personalize every mile
Think about your ideal road trip playlist — songs everyone loves, with just the right mix of classics and fresh hits. And don’t forget the snacks that keep everyone happy along the way. You know your passengers well enough to create the best possible experience.
Your credit union can do the same. The better you know your passengers, the more memorable — and meaningful — the journey becomes. Deep insight into their needs, values, and goals is essential to earning loyalty and standing out in a crowded marketplace.
This level of personalization starts with thoughtful preparation and the right tools:
- Break down silos and unify your data. When your deposit and lending operations share insights, you gain a complete picture of each member — empowering more targeted offers, smarter cross-sell strategies, and stronger relationships.
- Match products and messages to life stages and goals. Whether it’s helping young professionals build credit, supporting growing families, guiding first-time homebuyers, or assisting members planning for retirement, meeting members where they are creates trust and keeps your credit union top of mind.
- Use AI-powered insights to anticipate needs. Spot behavior patterns to know when to offer mortgage refinancing, promote auto or personal loans, suggest high-yield savings accounts, or recommend budgeting and financial wellness tools—delivering the right solution at the right time for every member.
- Tailor communication to member preferences. Whether it’s a quick text, a personalized email, or a phone call, reaching members on their terms increases the chances they’ll listen — and respond.
With 40% of credit unions prioritizing new member growth — and nearly half of younger generations open to switching from big banks — the summer road ahead is filled with opportunity. But how well you capitalize on it depends on delivering a digital account opening experience that’s smooth, intuitive, and reliable.
Discover how MeridianLink’s member-centric digital platform can help.
