Digital disruption is rapidly changing the financial services arena. The pace of change is unlikely to slow any time soon. To succeed in the new world, credit unions must not only provide superior experiences for all stakeholders but also deliver on their promises in a faster, more agile way. The opportunities are immense, and it is a challenge to understand how far and fast they need to transform.
Digital Transformation (DT) Hub is designed to assist you on your digital transformation journey.
Get a seat at the table that brings you closer to strategies and solutions
- Bi-annual Innovation Roundtable – outlining the current digital transformation trends and explores CU-startup dynamics based on CU’s priorities.
- Personalized Innovation workshop for your CU Leaders - Pinpoint the business priorities for your credit union to leverage the right technology to transform your organization - and amplify your member’s experience.
- Access to Digital Transformation Industry Experts through guidance calls to discuss/answer key questions or decisions you are facing. (Currently available for Data Analytics and will be expanded to other areas in near future).
- Direct and ongoing access to solution providers - eliminate doubt around your top priority initiatives.
- Monthly learning sessions designed to bring you up-to-date on the constantly changing digital transformation landscape.
- VIP passes to Credit Union Data and Transformation Conference
- Recognition on DT Hub and at Credit Union Data and Transformation Conference
Digital transformation is enabled by technology. However successful transformation journey means taking on an enterprise-wide change to evolve an organization’s business and operating models, as well as the way the staff works – across the front, middle and back offices. And it means using enterprise data to predict, influence and respond to customer behavior — all with the objective of assuring clear business outcomes.
The CULytics Digital Transformation Hub brings leading credit unions together. It addresses the challenges around delivering new solutions with speed, scale, and security while organizing teams, resources, and processes best.
Why Digital Transformation Hub?
Leading edge insight into digital approaches for credit unions to stay relevant in todays banking world
The right strategy and product at the right time; for the right reason
Avoid the ‘overbuy’ solutions
Know of key trends instead of ‘hearing’ about them through in the grapevine
Wade through the complex digital transformation landscape and find the right solution to your highest priority initiatives
Accelerate on your end-2-end transformation journey
Top Digital Transformation Initiatives for Credit Unions for 2019
Credit Unions are ready to engage with their members anytime, anywhere, any device access with a consistent experience across channels. Omnichannel captures members intents and ensures that the insights are derived, and conversations are personalized and optimized.
Credit Unions are investing in data warehouses to simplify and standardize the way they gather data. It would make it faster and easier to analyze data to gain insight into member trends.
Credit unions are investing in deepening their member relationships with personalized communications. These communications are customized based on multiple factors including the stage of the customer's journey, context, time, channel, etc.
Participation Loan Management
Credit Unions are looking at participation loans as an attractive opportunity to boost your loan volume, diversify risk and enhance your earnings.
Deepen Member Relationship based on data
Credit Unions are investing to use rich member interaction and engagement data to create engagements to further deepen member relationships — rather than just optimizing a single transaction.
Retail banking is changing in unprecedented ways. Credit Unions are investing in branch transformation to continue to build the consumer relationships that drive lasting brand loyalty while transforming the member experience to enable them to bank how and when they want.
Online and Mobile Banking Platform
Credit Union prospects and members expect modern, frictionless applications from their financial institutions. Credit Unions are investing in Online and Mobile Banking platforms to ensure that they provide superior experiences and deliver on their promises.
Automating Member engagement processes
Credit Unions are turning to robotic process automation (RPA), to improve the consumer banking experience, increase efficiency and accuracy while reducing risk and costs.