Lessons Learned From the 2008 Downturn
In 2008, the market suffered a horrible loss due to mortgages being repackaged that were not worth the amounts they were repackaged for. As a result, many people lost their jobs. At that time, I was working at a large credit union. I woke up one day to discover that we had lost almost 90 million dollars. We didn’t lose that money because we were mismanaged or because we had taken high risks, but because of the environment that we were operating in.
The 4th Industrial Revolution: Will your Credit Union go the way of Saving Banks or grow like a FinTech!
A new paradigm, the 4th industrial revolution, BIG data, AI, deep learning, robotics, self-driving cars, the Internet of things, retail disruption – and so much more is upon us! It is all about data and digital and it is RIGHT NOW!
Extraordinary Performance is Defined by a Strategic Center of Gravity
Strategy – is about making choices, trade-offs; it’s about deliberately choosing to be different.
The Digital Transformation Revolution – Is It Leaving Credit Unions Behind? Part 2
How the heck are CUs going to keep service and price advantages during the Digital Revolution!
One hundred percent of the retail world is going digital! While we may have slightly exaggerated that statistic, it is worth noting that only 50% of credit unions have a written and documented digital strategy.
The Digital Transformation Revolution – Is It Leaving Credit Unions Behind? Part 3
Surprisingly, 83% of credit unions indicate that they are offering digital consumer lending and 55% respond that are offering digital mortgages. Automated loan decisioning has the biggest impact on both the balance sheet and the consumer, but only one-third of credit unions are using data and machine learning to automate their lending.
A CEO and Consultant’s Perspective On Voice, AI and Digital Transformation Part 1
Retail banking’s digital revolution is changing everything credit unions do for their members.
If credit unions react as they have in the past, by being first to market with online ATMs, online banking, and other technology, they will build on their long-term service and price advantages. If they don’t, banks, BigTech and FinTechs will build on recent wins and the credit union industry will go the way of savings banks.
CU-2’s Credit Union Data Analytics Provider Guide 2019
Credit Unions are at a unique crossroads. We are behind on a handful of key trends. We must balance our technological needs with our focus on service, growth, and profit. At the same time, we have outside factors impacting us including fintechs, compliance, IT security, and ever-changing regulations.
A Quick Guide to Credit Union Member Acquisition Costs
Best Innovation Group, Inc, an innovation catalyst and strategic consulting partner focused on strengthening and growing credit unions recently released the results of its semi-annual Data Analytics Survey.
The Digital Transformation Revolution – Is It Leaving Credit Unions Behind? Part 1
One hundred percent of the retail world is going digital! While we may have slightly exaggerated that statistic, it is worth noting that only 50% of credit unions have a written and documented digital strategy. Compare this to the Financial Brand findings that 79% of banks are executing on a digital strategy and that 76% of millennials prefer mobile services over other channels. You can see why only half of the credit uni
Killer FinTech on Display at AXFI
One of the most popular sessions of the AXFI conference- the annual data analytics forum that wrapped up last week in Minneapolis- is the Killer FinTech Speed Rounds. In a single action-packed hour, six standout fintech companies with solutions designed to empower credit unions’ analytics journeys present their models to a packed room of financial leaders