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The Invo Difference: How Video Banking Changes Community Banks and Credit Unions For The Better
Globally, banks and credit unions face a unique challenge: Prioritize the customer experience at the expense of operational efficiency or prioritize operational efficiency at the expense of the customer experience. Invo helps them both with products that pay for themselves.
The Average Results
290% Return-On-Investment
3-to-1 desk-to-agent ratio
>50% wait time
decrease
Great River Credit Union
395% Return-On-Investment
Great River partnered with Invo to get more out of their existing staff through video banking without creating a daunting experience for their members. The results included an >80% decrease in lobby wait times and 94% member satisfaction, all while creating dramatic operational efficiency gains.
The Challenge
Great River’s branch lobbies were experiencing wait times of over 10 minutes, due to unpredictable lobby traffic that left some employees idle and others swamped. Struggling to hire, Great River needed a solution that made their branches more efficient without compromising their member experience. Invo didn’t compromise but made it better.
The Invo Difference
By deploying in-branch video banking, Great River saw lobby wait times plummet by more than 80%. They also centralized the new accounts and consumer lending departments to combat unpredictable lobby traffic and now need just six total team members to run both departments across all nine branches.
The Invo Difference
Invo clients see return on investments as low as 175% and as high as 600%.
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Heartland Credit Union’s
410% Return on Investment
Amid a hiring crisis, Heartland wanted to expand its footprint but didn’t have the manpower. They looked to Invo and have since built two new branches without adding any consumer lending staff while cutting wait times by 80%.
The Challenge
Heartland wanted to provide exceptional service to its members without putting added strain on its staff. Staffing shortages had made it impossible for Heartland to expand without harming the member experience in the branch, which was already experiencing 10-15 minute lobby wait times.
The Invo Difference
Not only did Invo cut those wait times to under three minutes, but they also made the branches more efficient. During the staffing shortage, Heartland saw 43% attrition among its Financial Service Representatives but still managed to build two new branches without needing to hire a significant number of employees.
Rave Financial’s
560% Return on Investment
Similar to Heartland, Rave (formerly Mobiloil Credit Union) faced limited staffing and a member base demanding more efficient and convenient service in light of longer wait times. Rave partnered with Invo and cut wait times in half while becoming more efficient.
The Challenge
While members looked more to digital banking solutions, nearly 60% still desired in-person visits, specifically when completing complex financial transactions. Rave looked to Invo for a solution more convenient for members while still giving them the face-to-face interaction they wanted.
The Invo Difference
Through both an in-branch and online video banking suite, Rave was able to cut wait times in half and operate at a 3-to-1 desk-to-agent ratio. They also boast robust reporting and video replay capabilities that improve employee training and make the life of a Rave employee easier and more stress-free than ever.
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ROI