Using AI for mobile payments. Source: Shutterstock

Recent weeks have proven to be extremely challenging for the financial industry. Encountering issues from processing delays due to a mix of temporary and permanent branch closures, many credit union leaders are finding themselves inundated with member inquiries and feeling overwhelmed. As institutions continue to navigate and adjust to the “new normal,” they must be conscious of the impact COVID-19 has had on their members and their families, and business account holders.

Most importantly, it’s imperative they have a plan in place to help guide and support members along the way. The good news is, help is out there. In many cases, credit unions can quickly add a range of new payment options – from mobile apps and online portals, to text-to-pay and IVR – to accept and process payments more easily, in a way that matches the personal preferences of their members. Often, unprecedented times call for unprecedented measures.

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