Page 6 - Finex ITM Implementation Case Study

Transition Strategy

Channel modernization requires a consumer-focused transition strategy that must be
championed by everyone in the organization from the top down. Woodward and the team
developed an approach that addressed both members and employee issues.

“We experienced a lot of sticker shock in Vernon, but very little in Manchester,” he says. “We
staged the introduction to ITM technology carefully there, and we’ve staged it even more

carefully in East Hartford. We’ve lost very few members as a result. A strategy was in place to
allay members’ initial concerns and empower them via learning how to use the ITM. Having
staff there to educate members was crucial. We scheduled regular staff meetings, where
specific scripts were developed around the most logical Q&A’s, so that our staff addressed the
transition with a single voice. Every member had an employee teach them how to use the ITM,
and this was people they knew and had known for years. We didn’t lay off a single employee,
but instead reallocated them to other higher value positions within the organization. Some
members were concerned we’d outsourced our service to a foreign company. We reassured
them that these employees were indeed in Connecticut, by having tellers’ names appear on
screen, name badges, and branded shirts, with the credit union logo on the wall behind them.

“Going forward, the possibilities for this technology are endless. We could set up shop
anywhere; people could even work from home (currently for exceptional circumstances) if we
decided the need was there. I’m not aware of any peer that is able to hire MSRs that work
remotely via video to assist members. In addition, a concierge is positioned at every location to
ensure the personal touch is still there. Members recognize them from their previous lives
behind the teller line. They recognize the video tellers too. In terms of response, satisfaction
levels have definitely gone in our favor. Our older demographic was our most concerned
population, despite already knowing our branch personnel. Our staff took pride in helping

them, based on our transition strategy. As a result, many of their initial concerns have been
erased and they have adapted.”