The majority of banks and credit unions today face a crippling and pervasive problem that is impacting every area of their business — from efficiency to employee productivity to revenue — and most negatively affecting front line staff that deal directly with customers (not employees). What’s the issue all these banks and credit unions have? Believe it or not the problem is their bank’s intranet. It’s inefficient and ineffective. And it’s having real and lasting negative repercussions for institutions, whether they realize it or not.
The Problem is Not Technology
When a credit union or bank’s intranet fails to deliver, nine times out of 10, it is seen as a technology issue. The IT department is then tasked with fixing the intranet problem and, IT being IT, will look to newer and expanded technology to do so — a better search engine, a new portal technology, or maybe the next new update from Microsoft.
But the problem is bigger than that. It is not something that IT can fix. What eludes most banks and credit unions is that the intranet breakdown occurs as a result of issues surrounding content, process and people — not technology.
So what does that mean? How can content be the cause of a failing intranet?
The core purpose of an intranet is to provide employees with information. In fact, 95% of an intranet’s job is to deliver information, otherwise known as content, to employees. For employees, quick access to accurate and relevant information is crucial, especially for those on the front lines who work directly with customers on a day to day basis. Yet, for the vast majority of banks and credit unions, finding information via the intranet is like searching for a needle in a haystack.
Information is buried, scattered, lost, out of date, or just inaccurate. As a result, employee productivity is stymied. Not only that but customer service and employee morale suffer as well.
No matter how advanced an intranet’s search or technology platform, if the content is poorly structured, unclear or difficult to find, employees will suffer. And so will an institution’s bottom line.
The Problem is Content
Understanding the root cause of a failing intranet is the first step toward fixing it. Until it is clear where the problems are stemming from, the intranet issues will persist. That’s why so many banks and credit unions struggle. They don’t understand the real reasons behind their failing intranet.
So what can a bank or credit union do? Step one is to understand that
the problem is not technology. The problem is content. Employees need easy access to well written, updated and digestible content that is uniform across all channels and branches. Once the content problem is established, a successful strategy can be implemented to turn things around and create a banking intranet that helps rather than hinders employee productivity and business growth.
At Engageware, we help banks and credit unions supercharge their intranet and provide employees with immediate, accurate and up-to-date information. We do this through an Employee Knowledge Management solution that seamlessly integrates with a bank or credit union’s intranet or portal.