TransaveUK, one of our credit union partners requested a temporary Christmas loan form to be added to their website in the run up to Christmas. This was a completely new feature and the team worked hard to ensure that this new feature was implemented on time.
We decided to ask TransaveUK the following questions so they could share their experience with the Christmas loan feature:
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How much effort did it require on your behalf from requesting the new Christmas loans feature to implementation? "In terms of adding to the Viva IT app and online account it took little effort required at our end."
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How was our timing and efficiency on this particular feature from start to finish? "Viva IT were able to action our request at short notice and efficiently"
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Were you able to receive more loan requests because the feature was released quickly? "We were able to launch on schedule (early November) so yes"
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Did the new Christmas loans feature help improve your efficiency, if so how? "It meant we were able to encourage loan applicants to apply online as opposed to ringing the office"
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How much time did this feature save your staff members? "Of the 641 loan applications received by 9th December 2020 418 were online and only 223 by phone so this represents a significant time saving. Staff members were also able to spend their time on other tasks, as opposed to spending large amounts of time on the Christmas loans"
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Did the Christmas loans feature have any other positive impact on your commercial success? "Additional loan business (in excess of £500k) = more income . We also encouraged employer partners to market the xmas loan to their employees which resulted in some new members as well"
- Have you any further comments to add? "Thanks to Viva for helping make this product launch a success. The xmas loan will return in October 2021!"
If you would like to chat about the needs of your organisation, please feel free to contact us. We would also love to hear your thoughts, reach out to us via our Twitter or LinkedIn page.
