This piece is based off of a roundtable discussion at the CU 2.0 Brainstorm Event in July 2021. It is not intended to be comprehensive—rather, it will provide a cursory introduction to credit union CEO strategy.
Following the 2020 U.S. election, legislative priorities are expected to shift with a stronger focus on protecting consumers personal finances, establishing stricter disclosure requirements, and changing, or eliminating, overdraft fees. These actions will have a significant impact to the operations and income for credit unions.
Wow. 2020 managed to pack a decade of excitement into the span of a single year. Interestingly, it also packed several years worth of digital transformation into a few months at the beginning of the pandemic.
Credit unions began by closing branches, leaning heavily on their digital channels… and continued to lean on digital even after reopening. Now, more members than ever use online and mobile banking. Branch visits are fewer and farther between.
All of this raises the question: How can credit unions continue to be there for members when they can’t physically be there? How can your technology create the same friendly, safe experience that in-branch visits typically provide?
Read on to see eight technology trends that credit unions should keep a close eye on (especially in the face of the coronavirus).
Even before COVID-19, consumers have increasingly turned toward chatbots to help them with digital requests. Now that social distancing and work-from-home policies are normal, the chatbot trend is accelerating.
PPP Loan Forgiveness is here. The SBA plans to open it’s PPP Loan Forgiveness in the coming days. Is your bank ready to provide a member experience that enhances your current relationship?
Join CU2 and Capiform on 7/28 as we show how implementing a digital PPP Loan Forgiveness option can set your credit union up for the coming digital transformation that members will demand.
Date: 7/28 at 11:30am-12pm EST
Continue reading “PPP Forgiveness: A Path Toward Digital Transformation”