Category: Banking & Consumer Trends
Why Data Is Your Best Asset When It Comes To Smart Digital Banking Solutions
Your financial institution’s plans, and your ability to deliver on them, are only as good as the data you’re using to make decisions. Banks and credit unions are no strangers to using “big data” to forecast revenues and operational needs. However, many are missing out on one of the most valuable uses for the millions…
Member-First: The Importance of the Customer Journey and Personalization
The “member experience” is central to credit unions, and in theory, it’s a key differentiator between CUs and their rivals: banks and (increasingly) digital-only fintech platforms. In practice, it’s ever-more-difficult to provide a genuinely superior experience for your members. Increasingly they’ll choose to bank digitally, so getting to know them face-to-face is not the option…
Remaining Agile and Innovative During Slow-Growth Periods
Even the best-run institutions seldom enjoy an indefinite run of steady, gratifying growth. Banking trends run in cycles and slowdowns and reversals will happen, sometimes with little warning. Some institutions will hunker down defensively, conserve their resources, and wait for the situation to improve. Others will leap to the opposite extreme, reacting with alarm and…
How to Build Transparency With Digital Banking Technology
A fundamental difference between a credit union and its competitors — conventional banks and faceless fintech startups — is that a credit union is community-based. This is true not just in the sense that a CU serves a specific community, but also in the sense that a CU is — or can be — a…