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SDFC-You_widescreen

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  1. 1. SDFC-You Mitch Phillips LaToya Taylor
  2. 2. What is SDFC-You? • ShortTerm: Replacement of current Family Center – Implement ASAP – A way for members to find: • Products and Services • Educational posts • Budgets relevant to their personal situation • Long term: System integrated with online banking – 5-10 year horizon SDFC-You
  3. 3. Objective • To proactively fulfill members’ individual financial needs online SDFC-You SHORT TERM
  4. 4. Translation: Technology can help members solve financial problems before they become problems Objective SDFC-You SHORT TERM
  5. 5. Why? • Problems – Members are busy – Information overload – Content heavy site • Solutions – Make website interactions fast – ‘Give’ the member the content they are looking for – Allow member customization for a unique experience SDFC-You SHORT TERM
  6. 6. Potential Outcomes • Members buy more products and services • Competition differentiator • CU Loyalty • Tailored personal finance education SDFC-You SHORT TERM
  7. 7. How does it work? • Life stages • Complications • Budget • Featured Products • Relevant blog posts • Email Subscription SDFC-You SHORT TERM
  8. 8. Life Stages • Original idea created by Jesse Bell and his team for the Oliver Project – Enhancement to current Family Center – Help members get an idea of what needs to be done at certain stages in life • The Life Stages for SDFC-You: SDFC-You SHORT TERM
  9. 9. Piggy • Ages 16 and under • Learning basics of personal finance – How banks/credit unions work – Budgeting – Economics – Different types of accounts • Products for parents to use for children • “Budget” replaced with Dollar Dog SDFC-You SHORT TERM
  10. 10. Backpack • Ages 17-24 (Young adult) • Learning how to live on their own/start their career – Investing – Advanced budgeting – Preparing for retirement – Many “firsts” • Featured Products – Savings accounts – Checking accounts – Credit Cards – Loans SDFC-You SHORT TERM
  11. 11. Wallet • Ages 25-44 (Completely independent) • Settling down with big responsibilities – Starting a family – Income greatly increases – Getting serious about saving for retirement – Increased investing and spending • Featured Products Backpack plus: – Mortgages – IRA SDFC-You SHORT TERM
  12. 12. Nest • Ages 45-retirement (Pre-Retirement) • Full focus on retirement and children’s wellbeing – Consolidating assets – Planning retirement goals – Safer investments – Funds for children • Featured Products Wallet plus – Refinancing options – Money Market accounts (and other safe long term investments) SDFC-You SHORT TERM
  13. 13. Vault • Retirees • Focus on making nest egg last – Plans for after retirement – How to budget retirement – Traveling • Many products would be focusing on adjusting current plans (Insurance, Home, etc.) SDFC-You SHORT TERM
  14. 14. Just because you’re in the same age group as someone doesn’t mean you have the same needs…
  15. 15. Complications • Separate member needs to give them a unique experience • Examples: Purchasing a car,Traveling abroad, Getting Married, etc. • Members select which complications are relevant to them • Content proactively appears based on what they’ve chosen SDFC-You SHORT TERM
  16. 16. Demo
  17. 17. Navigation • Landing Page  What is SDFC-You?  What are the benefits? • Tabs separate each life stage  User friendly  Easy to navigate
  18. 18. Life Stage Description • Icon  ‘Tags’ • Description  Helps members find the correct life stage
  19. 19. Complications Menu • Pre-loaded complications  General profile based on life stage
  20. 20. Complications Menu • Click-and-drag to add/remove complications  Customized experience  Hover over a complication to learn more
  21. 21. Complications Menu • Member just added “Moving Out” as a complication
  22. 22. Interactive Budget Calculator • Line Items  Average prices across the board would be used  Adjusted based on complications
  23. 23. Interactive Budget Calculator • Income  Members input their monthly income to create finalized budget
  24. 24. Featured Products • What shows?  It’s all based on the life stage and complications  Greatly helps people find what they’re looking for
  25. 25. Related Blog Posts • What is the benefit of this?  Financial Literacy  Cross-Sell products  Sharing on social networks
  26. 26. Email Subscription • What is the benefit of this?  One time or monthly email to member  Gives them budget, products, and blog posts relevant to them
  27. 27. Email Subscription • What is the benefit of this?  Keeps them coming back to site
  28. 28. Internal Challenges • Fear of innovation • Technology – Implementation – Email notification system – Logic • Content – Blog posts – ‘Tagging’ SDFC-You SHORT TERM
  29. 29. External Challenge SDFC-You SHORT TERM SDFC-You Members resisting change
  30. 30. LongTerm Plan • Everything is the same except: – Integrated into SSO online banking – Core pulls data to automatically put member in ‘Life Stage’ – Complications can still be added – Products and blog posts they’d be interested in are featured on online banking – Advertising and other featured content is dynamic on main site SDFC-You LONG TERM
  31. 31. LongTerm Challenges • Technology – Security – Third party integration • Digital Insight especially – Website/mobile app modification – Data • Motivation to innovate – Big changes – Training – Promoting the transition SDFC-You LONG TERM
  32. 32. Recap • Short term – Implement ASAP – Replaces current Family Center – Members can customize content through picking a Life Stage and Complications – Member can opt for monthly email • Long term – 5-10 year horizon – SSO system with online banking – Data used to place members in life stage – Complications give members’ a unique and dynamic online experience – Website featured content and advertisements dynamically change for each member. SDFC-You
  33. 33. Thank you. Any questions?

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