Welcome to episode 38 of the CU 2.0 Podcast. Today is all about the future of banking and Credit Unions.
Will your credit union be in business in 2029?
The question is not academic and it’s exactly the kind of question futurist Thomas Frey chews on. We first heard him at Co-Op’s Think ’18 (video here) and the conversation picks up where that presentation left off: what’s the future of the car business?
And know that the answer directly impacts credit unions.
Know too that Frey in this conversation explores the future shape of banking – by 2025, he says, the biggest banks will be tech companies.
He also delves into the vanishing branch and what this means for financial institutions. There now are 90,000 branches. But they are disappearing at a rate of 1000 per year. And then what?
The emergence of “banking deserts” – and the opportunities that may create for financial institutions – is another Frey topic.
So is the emergence of autonomous cars and what that may mean for credit unions.
One fact emerges from this conversation: the banking industry tomorrow will look very, very different from todays.
Will you still be in the picture?