Visions Federal Credit Union Humanizes Digital Member Experiences with Finalytics.ai
SAN MATEO, Calif. September 12, 2022 – Finalytics.ai powers segment-of-one digital experiences for community financial institutions. The company announced today that $5.6 billion-asset Visions Federal Credit Union is the first to provide each member with an authentic and tailored digital experience from the Finalytics.ai platform.
Finalytics.ai applies real-time data, dynamic segmentation, and machine learning to deliver relevant digital content for current and prospective members at a specific moment in time. Endicott, New York-based Visions selected the platform to provide valuable, relevant, and individual digital experiences.
With Finalytics.ai, Visions knows more about members and leverages that data to present timely messaging that deepen relationships and strengthen satisfaction rates. Visions also welcomes prospects with greetings tailored to their unique needs. In the first three months of leveraging Finalytics.ai, Visions increased conversion rates more than 270 percent. In addition, the credit union is utilizing insights from the machine learning engine in the Finalytics.ai platform to identify additional and discrete market opportunities across the communities they serve.
Thomas P. Novak, Vice President and Chief Digital Officer at Visions, states, “Humanizing the digital experience is a strategic objective of ours, but we needed the tools and know-how to take action. Finalytics.ai has the expertise, technology and understanding we needed to move from a transactional experience to a thoughtful, personal approach on digital channels. It’s an integral part of how we can keep our long-standing reputation for service while supporting our goal to become a digital-first institution. We live in an age where well more than half of banking services are delivered digitally, so institutions that deliver digital experiences that meet or exceed the branch will carry the day. We believe our partnership with Finalytics.ai is integral to our achievement of that objective.”
Craig McLaughlin, CEO and Co-founder of Finalytics.ai, says that “Visions is differentiating itself with a banking environment that is more personal and relational than even the largest institutions. For them, digital transformation is about delivering the distinctiveness of the credit union mission to the digital channel. To do this, they needed to be able to offer segment-of-one interactions that translated their culture and brand value to digital channels. We are proud to collaborate with such an innovative and forward-thinking credit union that focuses on empowering communities towards financial independence.”
Visions FCU will continue to expand Finalytics.ai services in the coming months. The partners are demoing this innovative experience this week at FinovateFall on September 13, at 11:25am ET.
Silicon Valley-based Finalytics.ai is the first credit union platform to apply real-time big data and machine learning in a way that creates a segment of one experience that addresses the unique needs of prospective and new members and customers of community financial institutions. The Finalytics.ai platform dynamically segments incoming information from multiple sources concerning an individual then presents curated content unique to that person. This allows institutions to compete more effectively, drive member and customer acquisition and improve retention. Visit https://finalytics.ai to learn more.
About Visions Federal Credit Union
Visions Federal Credit Union is a not-for-profit financial institution completely owned by its members. Established in 1966, Visions proudly serves over 230,000 members in communities throughout New Jersey, New York, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans. Visit https://visionsfcu.org/ for more information.