To fully unlock their digital potential, credit unions must develop or adapt strategies to address several emerging market realities. Lending trends in particular have changed dramatically, and credit unions must navigate consumer expectations and market competition while continuing to advance their members’ financial well-being.
This episode of the CUNA News Podcast features Kevin Polinsky, senior director of sales at AdvantEdge Digital. Polinsky identifies four formidable forces shaping the digital landscape for credit unions.
He says credit unions must consider factors like nontraditional financial institution competitors, digital-first experiences, human-centered design, and member engagement. Polinsky also explains how credit unions can evolve for digital while staying true to their roots of people helping people.
In this episode:
1:36: Growth and member engagement
2:38: The prevalence of fintech
5:43: Digital-first expectations
8:57: Contending with legacy systems
12:20: Digitization of the lending experience
15:27: Elevating what credit unions do best
16:54: Resources for exploring digital potential