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New Digital Experiences Keep Credit Unions Relevant – And Then Some

PYMNTS

Like their cousins in banking, credit unions (CUs) long enjoyed a relaxed pace of technological change. Consumers waited on financial institutions (FIs) to innovate in an odd relationship that put business needs before customers’ needs. They must confront one major obstacle in doing so, however: big banks. Not anymore.

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Why Drive, Not Size, Is Key To FI Innovation

PYMNTS

When it comes to technological innovation, however, the smaller players have long been outgunned by larger FIs and their sizable IT budgets. Today, small banks are more aggressive and ambitious in their innovation strategies than medium-sized and large FIs. gauges where banks are on the road to becoming innovators.

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How Challenger Banks Are Giving Legacy Players Key Opportunities

PYMNTS

Such institutions are working to raise the necessary capital to expand their products and customer bases as they enter new markets. Challengers like Britain’s Monzo and Germany’s N26 are using that funding to create products and expand into new markets like the U.S., Legacy Banks and the Innovation Game.

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3 Resolutions for Digital Banking Success in 2021

The Financial Brand

As banking executives define their 2021 goals, they must commit to improving digital experiences, leveraging data and honing human skills. The post 3 Resolutions for Digital Banking Success in 2021 appeared first on The Financial Brand.

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Why Bunq Banks On The Cloud For An Innovative Edge

PYMNTS

That is why it is critical for FIs to build out networks that can handle an increased amount of transactions or swiftly analyze large reams of data, according to Ali Niknam , CEO and founder of European digital bank Bunq. It is not the technology itself that is important, however, but the strategy behind it.

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In Banking Innovation, Eyeing The Needs Of The ‘Digital Native’

PYMNTS

Depending on where you look, the chasm yawns wide when it comes to innovating with new technologies or features. In a PYMNTS interview with Karen Webster, Joe DeRosa, EVP of Global Sales at i2c , discussed the findings of the July 2019 Innovation Readiness Playbook , subtitled “Leveling the Playing Field for Different-Sized FIs.”

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Innovation in Digital Banking: There’s no substitute for real-world experience

Banking 2020

In collaboration with the credit union’s own IT team, we devised a solution that built on geo-location capabilities, a set of beacons and the credit union’s mobile banking app to take the ‘manual’ out of the process. With our solution, when the member approaches the credit union, walks in and gets a coffee, the technology does all the work.