Everyone knows that technology is advancing at a rapid pace. But how can credit unions use this technology and analyze data in a way that improves the member experience and allows them to compete with fintechs?
“Lean into the tech and then leverage our expertise with how to operationalize it and bring it into our industry,” says Ben Maxim, chief operating officer at Reseda Group, a Michigan State University Federal Credit Union credit union service organization.
After discussing fintech partnerships last year, Maxim returned to the CUNA News Podcast this week to share the idea that if credit unions can nail the technology, they already have their community history, member engagement, and financial education to draw from to continue driving the movement forward. The right mix of everything leads to personalized financial solutions and increased member engagement.
“How do you personalize the experience when they interact with the credit union in any of the channels?” Maxim says. “Because we know who they are, we know more about them, and then we’re able to make some predictions.”
Hear Maxim and CUNA Digital Media Design Specialist Yeekeng Yang discuss why consumers desire personalized financial solutions, how technology can drive those solutions, how fintechs and credit unions can work together, how artificial intelligence and data analytics can enhance credit unions, and more.
The Winter 2023 issue of Credit Union Magazine explores award-winning marketing, board training on a budget, developments in instant payments, service to small businesses, and NCUA’s final rule on member expulsion.
