The CEO Forum Group Magazine Business 2023 (1) - Flipbook - Page 38
Dennis Devine
What’s an example?
Opening an account is typically the first experience
customers have with a financial institution, and this
act plays a pivotal part in the duration and depth of
their relationship. If their account opening does
not go well, it is very unlikely that the rest of the
experience will be successful either. In the financial
services space, we want that critical first step to be
as simple and accommodating as possible—and we
need to do that exclusively digitally.
This online environment also contains risks,
including fraud and online threats. Hence, we need
to be sure that we have appropriate controls to ensure
our cutting-edge security measures safeguard our
members with confidence. We must balance the
competing priorities of security and convenience,
providing our platform is secure while making
dealings as simple as possible.
36 The CEO Forum www.theceoforumgroup.com
An important aspect of digital transformation is
that we never feel like we have to do it on our own.
To improve the account opening process, we worked
closely with multiple financial technology partners,
leveraging the best of their talent, who provided us
with the best of their capabilities. Today, anyone
can open an Alliant digital account within minutes
through an even stronger, more secure environment
than ever before. Not coincidentally, we have
also experienced record member growth for two
consecutive years.
How do you get that growth?
Growth starts with a remarkable member
experience, and operating in a solely digital space
provides an excellent experience for our members.
Alliant’s structural competitive advantage allows us
to offer our members industry-leading rates. We were
also one of the first financial institutions to eliminate
overdraft fees.