Vibrant: The winners in banking customer satisfaction

Vibrant + Sharpen Customer Story

Vibrant uses Sharpen to operate more efficiently and live out a people-centric vision.

Happy employees are the key to your company’s success. It’s this keen focus on people that Vibrant Credit Union holds true with everything they do. From the empowering work environment they’ve built for employees to the VW bus turned ice cream truck in their parking lot, they revolutionize the way their people work. Their reason for such an inspiring atmosphere? They know if they create happy employees, first, those same happy employees will put extra care and intention into the work they do for Vibrant’s members.

“You’ll hear that a lot, that we change lives.” said Vibrant’s CEO Matt McCombs. “The other piece that we say pretty frequently is ‘if you can have a happy, healthy employee base, it makes happy, healthy members, which makes a happy, healthy community.’ How are you focused on not just an employee as an employee, but them as a whole person?”

To complement the unique, empowering way they work, Vibrant set out to create an equally memorable experience for their customers. The first step, making banking easier to keep pace with their customers’ changing needs. And for that, they partnered with Sharpen, who shares their people-first frame of mind.

“I think branches in general, and banking, are going to be an interesting thing the next 10 years,” McCombs said. “The world’s shifting quite a bit. It’s shifting from heavy physical use to a digital space. But I think consumers are still interested in what those branches look like. Not so much the size of the branches, but really, what’s the uniqueness of them?”

For Vibrant, that uniqueness is fueled by video banking with kiosks in each of their branch locations. The credit union partnered with Sharpen to power video banking. They centralized bankers in one location, and at the same time, still provide customers with top-notch service at every branch.

Now, no matter what location a member walks into, they instantly have someone to help them, McCombs added. And by instantly, we’re talking average wait times of less than 60 seconds.

Centralized banking lets Vibrant operate more efficiently.

Vibrant carried their tech-powered, people-first vision down to the floors of their individual branch locations. Now, with Sharpen’s omni-channel, cloud-native platform powering the video kiosks, Vibrant’s bankers can work from a single corporate office.

“What we’ve looked at, from a technology standpoint, or from just a delivery standpoint,
is ‘how do we leverage both a physical space, have people involved, and migrate to a digital world as well?’ So, everything we’re doing from a technology standpoint, or an interaction standpoint, is still people-centric. But we’re trying to leverage the efficiencies that technology gives us,” McCombs said.

Work is split equally among all Vibrant’s bankers. Sharpen’s platform routes incoming video calls to the next available agent. Rather than having one branch with overburdened agents and long wait times while another branch sees hours of downtime, employees’ time is optimized.

“We were able to go from, you know, 25 bankers down to 14 bankers and handle the exact same volume with the same experience,” said McCombs.

Increased efficiency leaves room to scale and grow services for customers.

Consolidating bankers under one roof simplified Vibrant’s operations and put about $1 million back in their pockets each year.

“If we’re able to do the same volume with fewer individuals we can redeploy those individuals that we’ve moved into other activities in the organization,” McCombs said. “It also allows us the ability to scale up. So, if you’re able to leverage efficiency and streamline how things are, you’re talking on the banker side for us, almost a million-dollar savings. I mean just shy of a million dollars. I think $865,000 was the savings that we have in recognizing the same interaction volume. That’s a lot of loans.”

With all their added savings, Sharpen’s nimble product, and more employees to support other aspects of the business, Vibrant can scale efficiently and responsibly.

“Being able to find an initial savings is a really big deal, but the bigger impact, for us, is looking at the way in which we believe the world is shifting,” he said. “The next 10 years, how do you make sure that you have the technology in place to scale? And that’s the bigger item for us.”

“The goal of what we’re trying to do is constantly provide more value to our members, and give that back. So, any sort of income that we make, how do we inject that back into our members and add value back to them? So yeah, that near million dollars, it allows us to really fuel the business and grow and add value for our members every single day.”

Watch Vibrant’s CEO, Matt McCombs tell the story of their revamped operations.

Want to learn more about Vibrant’s story? Head over to their customer case study to see how partnering with Sharpen helped change the way their members bank. Find it here!