menu

[Transcript]

Partners Federal Credit Union serves the Walt Disney Company and we currently serve about 126,000 members principally in Florida and California. Anaheim with the parks, and Walt Disney World in the Studios in Burbank, California. We also serve other parts of the Walt Disney Company—Lucas Entertainment, Pixar, ESPN, ABC—so, the umbrella is pretty big when we talk about “what is the Walt Disney Company.”

Some of the key business objectives for Partners is to grow our membership, and the way we describe that is we like one out of every two cast members to be members of the credit union, and we know to do that we need to be very responsive to what’s important to them. Top of the list: mobility. They want to be able to do banking anytime, anywhere with great ease and so we selected Kony as a kind of a centerpiece to help us do that.

So our vision here at the credit union is making all financial dreams come true, and that’s all financial dreams come true, so if you really think about that, that could be anything. That could be buying a house, buying a car, or maybe I don’t have to go to the branch today, and I can just take care of my banking business on my mobile device. Things that have traditionally been locked into a brick-and-mortar branch, we’re bringing to the mobile device.

And so that mobile device may be a phone, it could be a tablet, it could be your refrigerator. These days we really want to create a seamless experience for our members that gives them complete control and access at all times. We really were focused on how to make this frictionless for the members to get on to the application.

We’ve seen what we call the “abandonment rate members” who are jumping off because they just got frustrated has gone from 20% prior, to less than 3% now. And the pace of onboarding has been really strong. So we’re seeing about 1,800 members a month coming on to the application. And so in total if you look across our membership, members with checking accounts, we’ve got 46% of those using the mobile banking application, we’ve seen mobile deposits up 20%, we’ve seen Visa payments up 64%, and then we’ve seen share transactions alone go up 34%, just in the short time that we’ve been on the application. So we’re really excited about the return, but we’re more excited about what that means for access and convenience to the members.

So we looked at three to four different vendors, we rated them based on ease-of-use, technical innovation, support documentation, and training. Those were the five key items we looked at from each of our vendors, and at the end of the day we felt the best choice was Kony.

It’s been the Holy Grail to try and find an application that lets us focus on the underlying code and not necessarily worry about all the individual implementations. Using Kony Visualizer we initially started where the coding team developed the vertical app for us and we integrated it with our backend services. Going forward, what we’re going to be doing is actually having the business develop the screens in Kony Visualizer, deliver those to our development teams so that we can add in the underlying logics, integrate them with the core banking system and all the other services that we offer members.

Using the Kony Mobile Fabric is going to allow us to incorporate a lot of the different services that Kony offers. Identity service, engagement service, different reporting features, so that we can incorporate newly asked-for features that the members are requesting. Some of the benefits of utilizing the Kony Cloud from a Partners perspective: number one is scalability and the fact that we’re utilizing Amazon Web Services, an industry standard in that respect, that is helping us not only from a scalability perspective but also from a disaster recovery perspective. We were actually able to go from design to launch within a six to seven month period that we probably would not have been able to do with any other vendor that we were utilizing.

We used Gartner Research and we found Kony as being kind of that top quadrant leader. We were really impressed with the way that they were working, not just in financial services, that they were having an impact in different areas of customer service. That’s important to us. That helps keep you at the leading edge. If other industries are solving ways to delight members, we want to lean on those too, and so Kony brings kind of that expertise around that for us. Kony was kind of a market-leading group that wasn’t an obvious big for us before, but through our scan, I mean they really pop to somebody who’s going to help us differentiate and make a difference.

[/Transcript]