Bill Clark, CEO of Engageware joined credit union expert Robert McGarvey on the CU 2.0 Podcast to discuss the latest digital banking trends.

Engageware recently released its  Digital-First Banking Trends Report.

The report examines usage trends related to digital self-service and appointments as financial institutions navigated the challenges of the pandemic from March 2020 through March 2021. Listen here.

Report Highlights:

  • Self-service activity on bank and credit union websites increased 69%
  • Usage of self-service content on mobile banking apps increased 82%
  • Chatbot usage on bank and credit union websites and mobile apps increased 272%
  • Pre-scheduled appointments per branch have increased 79%

Listen to the podcast below as Bill and Robert dive into these trends and discuss how the pandemic changed the way people bank and what consumer behavior looks like a year post COVID.

“Once it became safe to use any channel again, including going to the branch, a few went back to the branch, they went right back to the way things were before the pandemic, but a significant portion have changed their behavior forever.”

-Bill Clark, CEO at Engageware

Don’t have time to listen to the whole podcast? Jump to the question/topic your interested in:

  • 07:00 – On augmenting the info you offer as consumers seek more information
  • 08:49 – Have you found that people look for information digitally when the answer is potentially embarrassing?
  • 10:36 – Increase in mobile banking for information instead transactions
  • 12:30 – Mobile banking as consumers’ primary channel
  • 15:50 – Obstacles to getting to an acceptable level of self-service at mid-tier financial institutions
  • 27:42 – Average daily usage of Knowledge Bases increase year over year – Is that starting to fall?
  • 33:30 – Is the increase in chatbot usage because chatbots have gotten so good?
  • 34:58 – Is the increase in prescheduled appointments because banks and credit unions were requiring that?
  • 38:00 – What size credit unions does Engageware service and how many do they serve?
  • 38:23 – Credit unions vs. community banks – Same or different?

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