We've reached an inflection point. Credit unions are investing less in technology than mega and regional banks while membership continues to grow 20 percent year over year. 98 percent of companies report revenue loss due to poor transaction management. And, consumer expectations continue to rise thanks to the convenience and efficiencies we all experience in every other aspect of our lives.
Technology, however, can provide the silver lining opportunity for your business this year.
- Baby Boomers are now far more likely to own a smartphone than they were a decade ago (68% now vs. 25% in 2011)
- Only 13% of Gen Z cares about convenient branch locations, while a quarter of them will avoid or stop using a service due to poor mobile design.
- Getting documents notarized is person is still one of the top complaints from members.
As 2020 kicks off, we put together a list of the top technology investments credit unions are making to enhance security, elevate customer experience, reduce environmental impact, and automate key business workflows to improve the bottom line.Read more