Innovators: Fear them or friend them?
by. Anne Legg
Let’s just get right down to it: credit unions rarely lead the way when it comes to innovation. But your credit union can be an innovation leader or at least a fast follower if you take learning from others seriously.
Finovate conferences let you take a look at the latest financial and banking technology. You don’t necessarily have to shell out the money to attend the conference to learn from it. We took a look at some of the offerings and identified two you should think about.
One is a competitor. While your credit union might not compete with mBank specifically, you’re certainly competing with other financial service providers who could start emulating mBank’s model. Take a look at what this innovator is doing to create an incredible electronic banking experience and see how you can borrow some good ideas to make your member experience better.
Another is a supplier. That’s right: you don’t have to necessarily come up with the big ideas or go through a lot of trial-and-error yourself. Check out how Mitek has created technology to revolutionize the account-opening process. If you were the first in your market to adopt this innovation, what would it mean for your credit union?continue reading »