Step Out Of Your Comfort Zone

By Blake Dickens

My mother writes checks for everything! Sounds funny, doesn't it? Well that is what she grew up doing and even today, it is all she knows. She doesn't have an ATM card, she doesn't know what bill pay is, and just realized that it was possible to open accounts online, which is great. The problem is she doesn't know how to get online. As we move into a new age of technological advancements, those people are still out there and it is extremely important to cater to them. Their familiar routine is the product of a formation over a lifetime of 30, 40, even 50 years and they are reluctant to change it. To them, change is hard. So you ask yourself "why change a good thing when it works", RIGHT? This customer falls neatly into the institution's comfort zone. While the customer is familiar with their traditional banking routine, the institution is familiar with how to serve this predictable consumer with the traditional paper forms and smiling tellers. From the opposite perspective and just like my Mother's insistence on writing checks, there are millions of young working professionals who have only known a fast paced, internet driven society. They don't know how to write checks, send letters in the mail or what waiting in line at bank branch even means and those young professionals aren't so young anymore. They have graduated college and have seen the business world for 10 to 15 years now.

Financial institutions have a huge challenge to capitalize from both worlds. Some have grasped that challenge and run with it while others are still hesitant to "get out of the comfort zone". The new internet-driven generations are now stuck in their own routine of needing immediate gratification, efficient processes for everything and have absolutely no patience to wait in line just to open a new banking account or to move money to other institutions where they do business. If these tools are not available, they will go elsewhere.

So how much business is passing you by?

uMonitor provides solutions to help your institution step confidently out of your comfort zone to be fast, secure, convenient, and available to all your existing and potential customers, regardless of their situation. The more options you offer, the more likely it is that you are going to obtain solid, profitable relationships for a longer period of time. We will work with your institution to create solutions that are unique only to you and your market. With the automation of your workflow online, not only will your customer benefit, but also the staff on the back end. They can focus on what’s important and that is building relationships and selling.

To learn more about the uMonitor New Account Setup and Online Funding with Switch Kit solution and other innovative financial technologies such as Account-to-Account Funds Transfer Service to move your money, call 901.757.1212 to speak with a uMonitor representative today or visit www.umonitor.com.