How Credit Unions are Using Technology to Win More Business in 2020
Credit Unions are under an unprecedented amount of pressure. The average age of a credit union member is 47, and according to a 2016 study, people 50 and older hold 83% of the wealth in America. At the same time, Nearly 31.5 million Gen Z consumers are now credit-eligible, 50% of those who are credit-eligible already have credit cards, and roughly 33% of them are already working full-time, part-time, or as freelancers.
That’s why we're excited to share our newest eBook: 3 Technology Improvements Credit Unions Will Make in 2020.
Some credit unions are afraid to adopt technology because they believe it will alienate their longest and most valuable members.
But the truth of the matter is that if you’re already interacting with your members through emails and digital portals, new technologies aren’t likely to intimidate them. There are readily available solutions that are easy to implement and require no special equipment – smartphone apps, remote online notarization, chatbots – but could make a big difference in the lives of your members. That's why we argue that 2020 is the most important year for credit unions, banks, and other financial institutions: Consumer options are unlimited. The average person can bank with, or receive a loan from, almost any financial institution in the country. Make yours stand out.
In this eBook, you'll learn:
- The 3 technologies credit unions will invest in this year
- Why only 13% of Gen Z cares about convenient branch locations and a quarter of them will avoid or stop using a service due to poor mobile design
- That 98% of companies reported revenue impact due to poor transaction management
People want convenience. As a credit union, it’s on you to be creative and open-minded in your journey to provide your community with the tools it needs to grow on its own terms.
Download the eBook and learn how chatbots, mobile apps, and remote online notarization will improve member experience while making your business more efficient.