As a New Decade Dawns, Credit Unions Focus on Meeting Members’ Needs Through Innovative Tech
January 21, 2020
It’s 2020 – a new decade that sounds strangely futuristic to the ear.
Except it’s not. It’s here and it’s now.
While flying cars are yet to hover outside stratosphere penthouse apartments, society expects instantaneous information and service, and it’s clamoring for data privacy in a world where it is becoming harder and harder to come by. No industry is untouched by these demands, including the credit union industry.
“Credit unions must have the tools in their toolboxes to meet these challenges head-on,” says Troy Stang, President and CEO of the Northwest Credit Union Association. “What makes credit unions stand out from all the rest is the personalized service they provide. They meet members’ needs first, and an essential component in doing so is technology.”
Today’s consumers expect immediate responses, instant access to services, data privacy, mobile banking, and more. Credit unions already meet these needs, offering members 24/7 online access to personal or business loans, credit cards, and more. In addition, Northwest credit unions have a partner that’s running the innovation race right alongside of them – Strategic Link.
Through Strategic Link, Northwest credit unions are partnering with companies offering the latest in tech, whether it be texting, analytics, or data security. The business partners that team up with Strategic Link are vetted by Northwest credit union leaders, which means credit unions can feel confident knowing they’re joining forces with a business that understands their needs. In addition, betaSpace, which focuses on emerging fintech, brings the latest in innovation right to credit unions’ doors.
In 2020, Strategic Link is focused on a number of emerging tech priorities, including voice technology, AI, and data analytics.
“Strategic Link can help provide credit unions with the roadmap they need for future success,” Stang says. “It’s critical we reimagine how we bring people together through technology, data, and process. We are living in the time of the information revolution, and technology is the catalyst. Credit unions take the lead when it comes to personalized service. Factor in ever-evolving consumer-friendly technology, and that’s what will make credit unions stand out in the decade to come.”