Credit unions’ relationships with financial technology (fintech) companies might define their future in financial services, according to Tom Davis, CSCU’s senior vice president of finance and technology.

It is the age of unbundling—where services are being peeled off—and fintech companies are thriving.

“These folks are here in our space and we’ve got to deal with them one way or the other,” says Davis, who spoke recently at the 2016 CSCU Solutions Conference in Orlando, Fla.

Fintech companies take a single line of the business and develop a better, easier user experience. “They do one thing, they do it with laser focus, and they do it very, very well,” Davis says.

continue reading »