Posted by MeridianLink | May 15, 2024

Enabling Member Feedback Within Online Applications Is Key for Improving Credit Union Success Rates  

The following post is provided by HappyOrNot®, a MeridianLink® partner.    

How It Works: 

HappyOrNot® Smiley Digital surveys appear within the credit union’s MeridianLink® deposit and loan application sessions. The timely, easy. and fun-to use surveys achieve very high response rates. 

Why This Is Important 

According to research up to 50% of consumers abandoned their online applications for financial services. for a variety of reasons. Slow response times, duplicate information, lengthy processes, and information requirements that aren’t readily accessible are just a few of the reasons why members abandon or suspend their applications.  

For example, a member sitting at an auto dealership ready to purchase a vehicle may opt for the dealer’s loan offer if their credit union’s online application process is cumbersome or time consuming.  

By listening to the “Voice of the Member” credit unions can better understand how their loan and deposit applications are being perceived and what adjustments can be made. When member feedback is instantaneous, the credit union can quickly adjust online applications to improve their efficacy.  

Amazing Results Within the First Month 

One of the first credit unions to utilize the integration between MeridianLink and HappyOrNot reported that it is helping them improve their understanding of their members’ application journey. The credit union is receiving more feedback in one month than it was able to achieve for an entire year using previous methods and is averaging an impressive 30-40% response rate utilizing its Smiley Digitals. 

Easily Deployed and Affordable 

HappyOrNot Smiley Digital tokens are copied and pasted into the appropriate MeridianLink® Consumer portals via a custom integration screen. 

The Smiley Digital tokens are cost efficient. One additional auto or home loan due to the use of the Smiley Digitals could cover the cost of the Smiley Digital for the entire year.   

How to Learn More 

DoublePort is a MeridianLink and HappyOrNot Partner, and Sponsor for the MeridianLink and HappyOrNot integration. For more information email: MeridianLink@Happy-Or-Not.com or sales@doubleport.com  

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