Four Reasons Why Invo Is The Right Vendor For Your Financial Institution

At Invo Solutions, our primary goal is to provide value to our clients and the customers they serve. Through our unique suite of products, including video banking, two-way SMS text, and co-browsing, our clients have seen dramatic growth after deployment. However, we must continue growing our product suite and the service we provide our clients. 

Since 2012, Invo has aggressively pursued innovation within the financial space and acted as a disrupter in the industry. We want banks and credit unions to thrive in their unique markets, providing best in class products and services to their customers and members. Picking a vendor is tough. We understand that. Here are four reasons we think Invo could be the right fit for you. 

1. Our Clients See A Dramatic Return On Investment

Choosing a financial technology vendor comes down to the bottom line. Will the money we invest lead to our financial institution increasing revenue or saving money? For community banks and credit unions that don't have the budget of larger financial institutions, the Return on Investment (ROI) is crucial. At Invo, our products have a measurable ROI that helps financial institutions generate revenue and save money. 

Invo's average client ROI is 290%. Some of our clients see an ROI well over 500%. These results are delivered through decreased wait times, centralized staffing, and increasing revenue through tools such as co-browsing.

I am committed to holding up our end of the bargain. Our clients invest in us, and I don't take that lightly. We want to deliver results, and I believe the data speaks for itself. Our clients average nearly $130,000 in annual full-time equivalent (FTE) savings through our product suite.

2. Invo Products Deliver Real Results

Ultimately, the strong ROI comes from products that deliver real-world results. Those results are what I am the most proud of at Invo from a product standpoint. On average, here are a few of the results our clients see:

• 4-to-1 desk-to-agent ratio

• >25% increase in product and service cross sales

• Under two-minute average wait times in branch lobbies (90% lower than the national average)

• 20% increase in Net Promotor Scores through video banking, chat, and text channels

These are just a few results that deliver a strong vendor ROI for financial institutions. But how will these results save your banks or credit union money? Well, these results reflect financial institutions getting the most out of their existing staff. For banks and credit unions struggling to hire, 4-to-1 desk-to-agent ratios help keep even the most understaffed branches efficient. 

One thing I heard over and over in 2023 was how difficult it was for banks and credit unions to hire. Our products are designed for those exact circumstances. Better yet, our products have proven not only to help understaffed branches maintain their level of service but to improve the customer experience, without adding staff.

Even for the best performers in the industry, ten-minute wait times are standard. With the efficiency Invo brings to your staff, financial institutions can have wait times under two minutes. 

3. We Partner With Financial Institutions of All Sizes

Partnering with a vendor is hard for many community banks and credit unions. From budgetary restrictions to unavailable vendors, we pride ourselves on partnering with financial institutions of all sizes. Regardless of your budget, we want to help you get where you want to go as soon as possible through speedy implementation and engaged customer service. 

The way we put it internally: we want to be known as the partner that answers the phone. One frustration many financial institutions have with picking a vendor is how difficult it is to get the ball rolling. We want to be the vendor that hears your needs and is willing to work around your budget and circumstances. The quicker we get clients off the ground, the faster they can see results.

4. Invo Products Are Agile and Evolving

Ultimately, picking a vendor is about identifying pain points, finding solutions, and evaluating if the ROI is worth it. Financial institutions should evaluate their short-term needs and long-term goals, without one taking disproportionate precedence over the other. Partnering with an agile vendor that isn't stagnant is crucial. 

Since rolling out the first-ever in-branch video banking solution over ten years ago, Invo's product suite has grown according to the needs of banks and credit unions. Whether it be appointment scheduling or lobby management, or even deploying a chatbot, we have adapted our product pipeline based on the direction of the industry and built products designed for financial institutions. Two-way SMS text, for example, is a vital communication channel for financial institutions. So we built a text platform from scratch that is affordable and provides mass texting and two-way texting that your customer and members want and need.

We are not, and never will be, stagnant and continue to evolve every year with the needs of our clients. In 2022, we identified SMS text as a significant need and are now working hard to provide every community bank or credit union with a texting platform that is powerful and budget-friendly.

We Believe We Are The Right Vendor For Your Financial Institution

Invo provides banks and credit unions with the absolute best products and services at a reasonable price point. We want to be the vendor known for excellent customer service, speedy implementation, and an undeniable ROI. And we would love to talk to you about it. Hope is our Sales and Strategic Partners Manager, and she would love to talk with you about how we can help your bank or credit union today.