It would be hard to find an industry on the planet that hasn’t been affected in some way by the digital revolution of the past decade.
Global companies such as Google, Apple and Visa have helped to shape consumer experience across many industries, financial services included.
QPCU CEO and Indue Director Grant Devine had the unique opportunity to visit Google headquarters in Mountain View, California and received an insight into the search giant’s new products and business objectives.
Grant’s tour of the facility was conducted by Frank Young, a Business Development Manager working on ‘Google Wallet’. It’s just one of a number of Google products that aims to change the way consumers go about their everyday business.
‘Google Wallet’ integrates with your mobile phone and makes it easy to pay – in stores, online or to anyone in the US with a Gmail address. It works with any debit or credit card, on every mobile carrier.
It is not yet available here, but the Australian market has been favoured historically by Google as a testing ground for product expansion.
A presentation on the business objectives of the ‘Google Wallet’ project made it very clear that Google sees its key outcome as “joining the dots” in making life easier for consumers.
Finding ways to make members lives easier is something considered very important by the QPCU executive management team. Just last year, QPCU made a market leading move by allowing members to change their own PIN numbers online and has also seen great success with its new mobile app exceeding download expectations.
The mobile application alone has been downloaded by over 15 per cent of internet banking members, just two weeks after it launched. It’s not just younger members making use of QPCU’s online services, with a third of QPCU’s internet banking users aged 53 or older.
QPCU CEO Grant Devine said his visit to Google had further highlighted the importance of being an early adopter of new technologies, whilst noting the unique consumer trends of the US marketplace.
“It’s never been more important to be relevant to our members, and to exceed the level of service and experience that they expect,” said Mr Devine.
“Our digital platforms are well received by members, but we are on a constantly evolving journey to improve our online offerings.”
The trip to Google HQ has also inspired QPCU to look into its own use of customer data, and has led to a new data warehousing project.
The long term plan is to help the credit union better understand its members, their needs and requirements. Projects like this will help better inform exactly how members interact with QPCU and decide what digital services to provide next.