What will you learn?
Credit unions that offer their own PFM tools will benefit from improved customer engagement and knowledge, as well as enabling clients to understand their own finances better.
The global wearable payments devices market size is projected to grow from $43.0 billion in 2021 to $82.0 billion by 2026 at a CAGR of 13.6%. Find out more about this growing market.
Credit unions that deploy mobile banking technology have the opportunity to engage with customers in new contexts and benefit from even closer relationships.
Digital financial services do not need to be robotic. Personalized digital banking can combine the human touch with customer-centric experiences and journeys.
$416 billion in banking revenues is at stake as the open finance “wave” sweeps the world. What does this mean for credit unions?
Connected generations expect all services to be available through their phone 24/7. To win new customers in a changing market, business as usual is not an option.
The trends and technologies credit unions need to know about
The digital upturn
For credit unions, the future - as well as the present - is digital. A survey that assessed digital maturity found that 86% of credit unions “agree that their competitive strategy is reliant on digital”. However, most are “not sufficiently prepared to leverage it,” with just 14% of credit unions reporting that they have the “appropriate flexible, iterative, and collaborative approach to execute a digital strategy”.
Branch closures and continued pressure from non-traditional competitors have triggered a wholesale rethinking of priorities and business models among business executives.
by The Economist Intelligence Unit
The future of credit unions
This report will help innovators understand the changes that are coming to the credit union market, prepare to compete with non-traditional players and lead the next generation of digitally-empowered financial institutions.