#Finances#MSU Federal Credit Union#Larky

“The Art of the Nudge”

Larky turns mobile banking apps into real-time conversions

Larky
|Feb 17|magazine4 min read

Gregg Hammerman started Larky based on an epiphany: why shouldn’t the organizations we engage with regularly be able to communicate with us at just the right moment?  

He recognized that consumer expectations and behavior have evolved, driven not only by the shift to doing things remotely, but also by the strategies of companies that have mastered the digital space—Spotify, Netflix, Amazon. 

These platforms provide added value through features like end-of-year reports, movie recommendations based on your watch history, and “like” purchase suggestions, deepening the customer relationship. They sync with your life outside of their platforms.

Larky has taken this idea of blending into a user’s everyday life and run with it. Their functionality easily integrates with mobile banking apps to engage with users at different touch points throughout their day. Using lock screen notifications, Larky can guide people to offers, promotions, local events, and information relevant to their unique needs in that moment. 

MSU Federal Credit Union identified a powerful way to use Larky’s technology to engage with their members:

“We have a loyalty program where we work with local merchants who will give you a discount if you use a MSUFCU debit/credit card. Larky helps us remind people to take advantage of those.” —Ben Maxim, Assistant VP of Digital Strategy & Innovation, MSUFCU

People have a lot of options when it comes to banking, and it’s hard to stand out. Larky works with a diverse selection of community financial institutions to help them showcase the unique services they provide. Maxim recognizes the potential for their partnership to expand and innovate, helping them stand apart from the competition:

“Beyond the geolocation and personalization, we’re working with Larky to figure out credit card fraud detection and prevention. Future possibilities are out there. They have an established product, which is great, but what else can we do with them? For one, we’re looking into gamification of different interactions within our digital accounts. Larky is fully open to that, and I look forward to where we might go.

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