Blog

Make no mistake a digital revolution is upon us and credit unions need to react and change in order to serve their members.

Digital transformation has revolutionized retail banking and data is the jet fuel for the seismic shift in the credit union business model. A data strategy is foundational for credit unions to compete in today’s digital world and is required to effectively implement a holistic platform of enhanced analytical decisioning. Business Intelligence and analytics (all powered by data) are cultural shifts analogous to moving from ledger cards to core technology platforms.

In my last two blogs, I described why credit unions should dominate their competition and local retail markets and why growth for growth’s sake will get them to the promised land.

Growth for Growth’s Sake is what every Credit Union should be seeking!

Credit Unions can, and should, be the dominant retail financial services provider in every market in the US.

In our last blog, we explored results from The National Survey on Credit Union Data Analytics and Decisioning Trends and touched on their implications.

Large banks, Regionals, and fintechs continue to invest heavily in data management, analytics and decisioning.

“We are not moving fast enough. We need to move 2x or 4x faster,” says John Janclaes, CEO of the $1 billion Partners Federal Credit Union headquartered in Burbank, CA. “Some might say faster is in order".

“We are not moving fast enough. We need to move 2x or 4x faster,” says John Janclaes, CEO of the $1 billion Partners Federal Credit Union headquartered in Burbank, CA. “Some might say faster is in order".