The Ever-Changing Financial Technology Landscape and the New Role of Fintech Companies
September 14, 2015
September 14, 2015
Credit unions looking for technology solutions and products for members want “high value and low risk engagement,” according to Nicolas Howell, Founder and CEO of HowellCorp.
Howell will help credit union leaders define the structure a credit union-business partner relationship at a breakout session during Amplify Convention in Portland in October. HowellCorp is a provider of financial technology services including LifeCounts, an online personal finance management platform that allows users to securely view all of their accounts and transactions.
But rather than pitching his own products, Howell will focus on helping attendees determine how to assess and choose the best technology partners.
“It can be an unnecessary burden for a financial institution to become a technology company,” Howell says. “Members view credit unions as a beacon of trust. Making good partner decisions and managing those relationships can mitigate risks for the credit union.
“The number one question on the minds of credit union leaders is what suite of products should they offer, how much should they spend, and what is being pushed on them that they really don’t need,” Howell continued.
He will guide attendees through a look at the different types of companies available, from branded solutions to white-label providers, and what the credit union’s responsibility is vs. the technology provider, as well as the costs and commitments both sides need to make.
The goal is to maintain a service-oriented relationship, says Howell. “Credit unions should do what they do best,” he says, “which is focusing on member service and sound financial practices. They can task their tech partners to bear the burden of risks and security.”
Amplify Convention is scheduled for October 6-8 in Portland. Nicholas Howell’s breakout session is scheduled for October 8 at 12:45 p.m. Registration information is posted online.
Questions about this story? Contact James Pearson: 206.340.4790, email@example.com.
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