Change has never happened this fast before, and it will never be this slow again.”
We’ve all heard iterations of this quote and concept. While this particular rendition came from Graeme Wood via Twitter, Martha Durdin, president/CEO of the Canadian Credit Union Association, echoed a similar sentiment at a recent credit union conference.
The way the world works and the way people behave is changing faster than it ever has and it is fundamentally reprogramming our society.
The financial services industry is no exception. Buzzwords like “disruption,” “innovation,” “blockchain” and “open banking” have been making their way into conferences, strategic planning sessions and even trickling into everyday conversation at the branch level.
If change is relentless and inevitable, how can credit unions compete not only with big banks but also the mass of fintechs seeping their way into members’ wallets?
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