Internet, cloud computing and open Source Software Technologies took some time before consumers and business adopted them for conducting their respective transactions. Today, entrepreneurs and enterprises all are confidently using open source software technologies for developing commercial applications and hosting them on the cloud. Compared to cloud computing or open source technologies, mobile technology has taken much less time to get adopted. Besides the convenience factor that mobile technology brings to business and consumers, the popularity of this technology is fueled also by millennials whose primary use is social communication –chat, messaging, picture, shopping and free mobile apps to name a few.

While these technologies helped technologists improve the quality, speed and performance of applications. Mobile technology made software producers invest in Rich user interface for delivering rich user experience. Today we don’t see any product brochure specify “Intuitive Interface” as rich user interface and experience is imperative. Courtesy UI/UX designers, Google, Facebook and many others we see ready themes and layout with design styles like Glass, Material and many other custom styles for various customer segments. Applications are also designed to provide seamless experience on mobile devices as millennials, who are one of largest online population are quick to share positive or negative experience that can leave an echoing impression.

Software technology companies where talent availability is no issue are providing Rich Application experience to retain and attract new customers. But other industries such as Credit Unions where software is not the core business may have gaps in delivering rich application experience. Let’s consider how credit unions can benefit by providing rich application experience knowing the fact that they outperform commercial banks consistently in terms of:

1. Great customer service
2. Cost effective products
3. Members trust them

Yet only 30% of the population in US and Canada bank with credit unions. As millennials begin their transactional life credit unions have significant opportunities for member growth. Member growth must complement retention and rich online & mobile application experience can be a strategic cost effective wayto achieve both – growth and retention. As mentioned millennial are one of the largest online population, credit unions must target them, because millennials:

1. Influence their network
2. Are digital savvy users
3. Prefer to avail products & services online
4. Demand rich features, speed and intuitive apps

Developing rich applications requires software talent – architects, project managers, UI/UX designers and quality engineers but they prefer to work with the Googles and Facebooks of the world. To resolve the software talent availability issues most credit unions work with payment solution providers for developing online & mobile bankingapplications. This may not give them the rich application experience required for attracting the millennial population as their core expertise is payment solutions.

In many situations over my entire career I observed sales cycle were much shorter when application UI was well designed in terms of layout, theme and productivity tools/features. Many sites today provide detailed information for designing rich UI, deriving rich user experience and also provide metrics for measuring the success of the design.

Based on individual and collective experience of our team we settled with 4 UI metrics for developing rich application experience products:

1. Usability
2. Navigation
3. Accessibility
4. Esthetics

In the following post I will use credit unions industry and describe these 4 metrics for explaining how member growth and retention can be achieved cost effectively. I am hoping credit unions can leverage this information and provide the same high touch branch experience on high tech digital channels.

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