President & CEO, University Credit Union
“From our evaluation, it is clear that interface.ai is far ahead of even the second best vendor operating in the Intelligent Virtual Assistant space.”
In 2017, University Credit Union(UCU) developed a 5-year plan focused on evolving their long term business model. Considering they serve the university community, that is highly technologically savvy and geographically scattered, UCU had to elevate their offerings and member service efficiently by focusing on being a leader in the digital space. The 5-year plan reflected the same.
President & CEO, University Credit Union
“Considering the tech-savvy university community is our target audience, we are focused on being a leader in the digital space.”
Executing the 5 year plan, UCU evaluated their technology ecosystem and looked at technology investments that would help them achieve their goal with a renewed focus. With concerted efforts around this, UCU has been able to increase the portion of the business that originates online from 10% to over 40%. This has led to a strong growth in revenues, assets and membership in the past 3 years.
Even with an ever increasing portion of the business originating online and significant growth, there was scope for even greater growth and efficiencies to be had.
After extensive research and understanding of case studies of several Credit Unions incorporating Artificial Intelligence (AI), the executives at UCU were convinced that AI, specifically, Intelligent Virtual Assistant, was the technology that would help them overcome the challenges they were facing.
Considering the possibilities with a technology such as Intelligent Virtual Assistants, the UCU team were initially concerned about its affordability. On gaining knowledge of credit unions of similar sizes incorporating Intelligent Virtual Assistants and understanding how the technology could be implemented at a modular level, it became clear that it was affordable and had massive ROI generating potential.
CFO, University Credit Union
“We were not sure of our ability to afford technology like AI and ML due to the narratives in the outside world. When it came to our knowledge that other Credit Unions with similar asset size ranges, were investing in AI, we were convinced to take a granular look. On going deeper, we understand that all financial institutions with more than $100M in assets can leverage different aspects AI with Intelligent Virtual Assistants.”
After extensive research and understanding of case studies of several Credit Unions incorporating Artificial Intelligence (AI), the executives at UCU were convinced that AI was the technology that would help them overcome the challenges they were facing.
UCU Expects to
President & CEO, University Credit Union
“This project is part of our long term strategy and it made sense to advance considering the accelerated shift of members towards digital channels. The decision to invest has come after extensive evaluation and the technology is proven to deliver value. We believe that institutions that take action during tough times by adding significant value to their members & by serving them in creative ways will be poised for success in the long term.”
UCU will also be able to serve its membership base across the world in a fast and efficient manner. It will also enable them to maintain great relationships with partner universities that are highly tech savvy.
After extensive research and understanding of case studies of several Credit Unions incorporating Artificial Intelligence (AI), the executives at UCU were convinced that AI was the technology that would help them overcome the challenges they were facing.
UCU identified vendors by
EVP, Chief Operating & Lending Officer, University Credit Union
Pricing, key functionalities offered, and the technological roadmap of the partner were key factors in choosing a partner for this project
UCU evaluated vendors based on the following criteria
CMO, University Credit Union
Pricing, key functionalities offered, and the technological roadmap of the partner were key factors in choosing a partner for this project
President & CEO, University Credit Union
“From our evaluation, it is clear that interface.ai is far ahead of even the second best vendor operating in the Intelligent Virtual Assistant space.”
President & CEO, University Credit Union
“interface.ai will enable UCU to offer premier experiences on all member facing channels while greatly improving efficiencies across the organization.”
Read about how interface.ai’s Managed Services helped UCU reap benefits from Royce in just a few short weeks.
Read about how Royce is helping UCU enhance operational efficiency and member experience.
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