In recent years, many credit unions have made large investments in digital transformation initiatives. During digital transformation initiatives, credit unions use new technology to improve engagement among prospective and existing credit union members. Typical digital transformation initiatives include:
- Improving online banking functionality
- Deploying mobile banking apps
- Rolling out electronic document signing
- Building video-banking functionality
- Ensuring omnichannel digital presence
This post covers another important component of digital transformation for credit unions: deploying digital signs. Read below to learn about credit union digital signage use cases, security, and how to get started.
Use cases for credit union digital signage
Put simply, a “digital sign” is any TV or monitor that displays custom content. Credit unions can use digital signs to improve communications with prospective members, existing members, and employees alike. Key use cases for credit union digital signage include:
Promoting new offers - Credit unions can display new offers on loans, savings accounts, and other financial products on digital signs. Credit unions can show these offers in the lobby or waiting room.
Showing new features and member benefits - Having a new mobile app for your credit union or recently rolling out video banking is useless if members do not use those new tools. Credit unions can use digital signs to get the word out on new features and technologies that are part of a digital transformation push.
Reducing perceived wait times - With digital signs, credit unions can keep members entertained as they wait for assistance. In addition to showing information on new offers, features, and member benefits, credit unions can also display sports highlights and local weather forecasts.
Providing an alternative to news channels - Digital signs can provide a great alternative to showing news channels in your credit union lobby. In today’s polarized world, any news channel you pick is going to get at least half of your customers worked up and not thinking about your products. Credit unions can take control of the atmosphere in their branches with digital signs.
Improve member engagement - One way to improve member engagement is by promoting financial literacy through digital signage content. Credit unions can display educational information on common financial needs and concerns on digital signs. This information can prompt members to ask more informed questions about their financial situations and how your credit union can help.
Streamline customer interactions - By using a digital signage API, credit unions can integrate digital signs into their existing credit union management systems and improve customer interactions. For example, in a busy waiting room, credit unions can program their digital signs to display a notification that the banker is available for the next customer.
The above use cases are just a few of the many ways that credit unions can benefit from digital signs. There are a ton of creative digital signage use cases, and credit unions can customize digital signs to meet their unique needs. With modern digital signage, credit unions can display images, videos, and even web pages with ease. Credit unions can also organize content into playlists and set each playlist to show at predetermined times.
The importance of security with credit union digital signage
Credit unions need to maintain a safe and secure IT infrastructure. Of course, sensitive member data and account balances are on the line. Without proper digital signage security, skilled hackers and bad actors may be able to exploit a credit union’s digital signs to access the credit union’s backend systems and databases. Additionally, when an unauthorized individual gains access to a digital sign, they can command the digital sign to display embarrassing or illicit content.
Accordingly, credit unions must make sure that their digital signage provider takes security seriously. To learn more about how credit unions can keep their digital signage secure, check out our page on digital signage security.
Launching digital signs for credit unions
To launch a digital sign at your credit union, you will need two components: digital signage software and a digital signage player. Digital signage software allows users to upload image, video, and webpage content to an online account. Users can then organize that content into playlists and edit that content all from a web browser. This ability is important, as with remote digital signage management, users do not have to visit each sign physically to change out content.
The second key component of a digital signage deployment is a digital signage player. A digital signage player is a palm-sized, physical device that renders content to a user’s TV or monitor. The digital signage player communicates with the user’s digital signage software and online account and then displays that content on the user’s screen. Modern digital signage players are extremely energy efficient and draw only 3 watts.
Getting started with credit union digital signage
To get started, credit unions can sign up for a free 14-day trial of Screenly digital signage software or schedule a demo. After sourcing a Screenly Player, credit union teams can start displaying content in minutes. If you have any questions, please do not hesitate to reach out to Screenly Support. We are always happy to help and discuss how digital signs can help your credit union achieve its digital transformation goals.