Credit Union Innovation Playbook: Challenger Banks Edition

The 2020 Credit Union Innovation Playbook series, a PYMNTS and PSCU collaboration, analyzes the evolution of the innovation trends in the financial ecosystem. The Challenger Banks Edition draws from a data sample of 3,908 consumers, 100 credit union leaders and 50 FinTech executives to examine which payment product innovations CUs and FinTechs plan to prioritize in the near future. 

Inside the May study:
  • 30 percent: Share of CU executives who believe their members are either “very” or “extremely” likely to switch to challenger banks
  • 25 percent: Portion of CU members who believe challenger banks could offer better banking services than those they currently receive by offering lower fees
  • 83 percent: Share of CU executives who believe national banks are likely to create challenger banks with which they might compete for members

Credit Union Innovation Report

How CUs Can Drive Engagement with Self-Service Banking Innovation
2024 Credit Union Innovation Readiness Index
The FinTech Innovation Agenda
How Credit Union Innovation Can Drive Gen Z Engagement
Growing Credit Union Membership via Lending and Omnichannel Banking Innovation
2024 Credit Union Innovation Readiness Index - January 2024
How Credit Product Rates Impact FI Selection
Credit Union Membership and Credit Profiles
Staying Ahead Through Payments Innovation
Bridging the Cryptocurrency Divide — Why Members Want Access, Why Credit Union Executives Resist
Product Development Slowdown Tests Member Loyalty
Cryptocurrency As A Key To Member Loyalty
The Race To Meet Consumer Demand
Product Innovation As The Key To Membership Growth
Responding To Member Demands For Digital Financial Services
Credit Union Innovation Playbook
Credit Union Innovation Study - July 2021
Credit Union Innovation Playbook Touchless Payments Edition
Credit Union Innovation Study - February 2021
Credit Union Innovation Playbook: Card Trends Edition
Credit Union Innovation Playbook: Microbusiness Opportunity Edition
Credit Union Innovation Playbook: New Payment Flows Edition
Credit Union Innovation Index - March 2020
Credit Union Innovation Playbook: Loyalty Innovation Edition
Credit Union Innovation Playbook: Data Analytics Edition
Credit Union Innovation Playbook: Digital Banking Edition
Credit Union Innovation Playbook: Trust But Verify Edition
Credit Union Innovation Index: A 360 Degree Look at What's Driving Credit Union Innovation