Leaning in: Credit unions and the fintech revolution
As financial technology companies innovate and influence consumer preferences, how should CUs respond?
To compete and succeed in this ever-evolving and changing financial marketplace, credit unions must continue to push themselves to think and act differently. Fintech companies across the payments industry are continuing to influence consumers’ preferences and financial decisions, in turn impacting the way credit unions, banks and other financial institutions deliver services and offerings.
For credit unions, to not only keep up in the fintech space but to capture the opportunities these changes provide will first require understanding the trends in the market landscape and how those changes are shifting member preferences. Here are some jarring examples of the changing marketplace and consumer expectations:
• According to a December 2018 study by Javelin Research & Strategy, consumers are interacting with their financial providers through digital channels three times as frequently as they are in-branch.
continue reading »
