181SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr “Wow, what a great experience.” Those five words should be at the top of members’ minds after every interaction with their credit union. Whether they’re engaging in person, online or over the phone, members should be guaranteed a positive experience. In fact, it’s what they expect. For three out of five Americans, getting a better experience is a reason to try a new brand or company (or credit union). First Technology Federal Credit Union, a $10 billion institution based in Silicon Valley and serving technology-driven companies, wants to ensure its members don’t feel that need to switch. Creating member loyalty involves three key steps at First Tech. 1. Recognizing who the competition is. It’s no longer banks and other credit unions that pose the biggest competition. Members now rank their credit union experiences based on all of their experiences with brands and companies. “They’re comparing us against Facebook, against Netflix, against Amazon,” said Michael Upton, chief digital and technology officer at First Tech. “As a financial services company, we believe it is absolutely vital we benchmark ourselves against the type of experiences our members have come to expect, whether they’re online or on their phones.”2. Investing in data analytics. Delivering the relevant, personalized experiences members demand begins with data. Once a credit union has a plethora of member data on hand, though, the next big question is what to do with it all. That’s where a data warehouse and dedicated analytics team can help. By investing in both, First Tech has taken control of its data. Upton noted, “If you understand what’s happening, you can then start to design products and actions.” Already, members are beginning to expect their credit unions to proactively fill needs they don’t know they have.3. Focusing on omnichannel. A member’s credit union experience should be seamless from one channel to another. This is what’s known as omnichannel. First Tech launched an omnichannel experience initiative about two years ago. “Whether our members call us at the contact center, come into our retail branch or choose to come online, the omnichannel is aware of those interactions,” said Upton. “We can create an experience that allows a member to start at one part of the company and complete any of their tasks at any other part of our company.”To learn more about optimizing member experiences, register for the “Jobs to Be Done” webinar – the latest in CO-OP’s Digital Transformation webinar series.
Several provinces across Indonesia have announced a ban on plastic bags, the latest ones being Jakarta and Bali, with consumers’ and producers’ awareness of sustainable consumption on the rise.The Finance Ministry’s Customs and Excise Directorate General is planning to slap a plastic duty of Rp 30,000 per kilogram on plastic producers and importers, translating into Rp 200 duties per plastic sheet.Plastic bags will cost Rp 450 to Rp 500 per sheet after duties. The government has been planning to impose an excise on plastics since 2017 but has yet to receive approval from lawmakers.Indonesia, the world’s second-largest marine polluter, accumulates about 1.3 million tons of plastic waste every year, of which 70 percent goes to landfills, 15 percent ends up in rivers and oceans and only 10 to 15 percent is recycled. Indonesia is planning to impose an excise on plastics, fossil-fuel vehicles and sweet drinks in a move aimed at reducing their adverse environmental and health effects, Finance Minister Sri Mulyani Indrawati has said.She said the planned excise would reduce plastic consumption by up to 50 percent, adding the government would likely receive an excise of Rp 1.6 trillion (US$116.6 million) each year.“We are hoping that this will make plastic producers transform into producers of environmentally friendly goods,” the minister told House Commission XI overseeing financial affairs. Sri Mulyani said the excise only made sense today as it would unify regulations recently issued across the country. Indofood, Danone and Mayora are the top three producers of plastic waste in Indonesia, according to The Brand Audit Report 2019 by Break Free from Plastic. Top corporations have joined forces in driving the transition to a circular economy by boosting their recycling efforts to reduce plastic packaging waste at landfills in the country.Sri Mulyani on Wednesday also asked lawmakers for approval to impose an excise on fossil-fuel vehicles, saying the pollution in big cities influenced the government’s decision to devise a plan on limiting consumption.“Every vehicle that produces CO2 emissions is subject to the excise except electric vehicles, mass transportation and state-owned vehicles, as well as vehicles for exports,” said the minister, adding that local producers and importers were subject to multi-tariff duties.She added the government would likely receive Rp 15.7 trillion for taxing high-emissions vehicles.The Finance Ministry is also planning to put duties on sweet drinks to reduce the number of diabetes cases in the country, one of the main causes of death among Indonesians. Sri Mulyani also cited the need for people to live a healthy lifestyle.”There are a lot of countries that put duties on dangerous goods including sweet drinks,” Sri Mulyani said. “If approved by the parliament, we will impose duties on ready-to-drink beverages and powdered beverages that contain sugar, excluding non-manufactured drinks and exports.”The government would impose duties of Rp 1,500 per liter for packaged tea and Rp 2,500 for carbonated beverages such as Coca-Cola and energy drinks, she added. The government was likely to receive Rp 6.25 trillion from such duties, the minister added.The House’s Commission XI has responded to the government’s excise plan by agreeing to immediate duties on plastic bags. “The House’s Commission XI requests that the government create a road map that expands other new excise objects,” a commission document shows.The Finance Ministry is due to respond to the commission’s decision within seven working days to further proceed with next steps, which may include deliberation on the new excise regulation on plastic bags.Topics :