Credit union (CU) executives understand the importance of innovation. However, PYMNTS Intelligence uncovered a disconnect between how some CUs measure innovation success among different performance tiers. More than three-quarters of top performers benchmark their innovation agenda’s return on investment (ROI) by increases to their membership...
Credit union (CU) members tend to value benefits such as personal service and a sense of community associated with CUs. Data reveals, however, that CU members increasingly show interest in self-service options and the convenience they provide. Like many digital-first consumers, CU members increasingly expect...
Financial institutions (FIs) can’t meet the evolving needs of digital-first customers with traditional solutions and infrastructure. That’s why the finance industry must continually modernize the banking experience — and its relatively monolithic core architecture — to adapt to technological, behavioral and market disruptions. With the...
Regardless of a credit union’s size, members expect digital-first capabilities that can compete with what for-profit financial institutions (FIs) offer. While many CUs are rising to the innovation challenge, there are differences across the CU landscape. To measure CUs’ current and planned innovations, PYMNTS Intelligence...
August 27, 2024
Many FinTechs partner with credit unions (CUs) and other financial institutions (FIs) to provide the innovative products and services that today’s digital-first consumers expect. In fact, almost all view CUs as collaborators more than competitors. To be successful partners, FinTechs need to align their innovation roadmaps with CUs’ innovation agendas. A key objective among FinTechs […]
August 12, 2024
Credit union (CU) executives understand the importance of innovation. However, PYMNTS Intelligence uncovered a disconnect between how some CUs measure innovation success among different performance tiers. More than three-quarters of...
July 10, 2024
Credit union (CU) members tend to value benefits such as personal service and a sense of community associated with CUs. Data reveals, however, that CU members increasingly show interest in...
June 14, 2024
Financial institutions (FIs) can’t meet the evolving needs of digital-first customers with traditional solutions and infrastructure. That’s why the finance industry must continually modernize the banking experience — and its...
May 15, 2019
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) announced on Wednesday (May 15) that they have inked a deal to collaborate to promote financial innovation. According to a press release covered by Finextra, the memorandum of understanding (MoU) was signed on May 12, 2019 between Norman Chan, chief executive of the […]
