Watch the clip above and be sure to check out the full episode located below the show notes.
CUNA Executive Vice President/Chief Engagement Officer Greg Michlig joined us on the show to share highlights from the Credit Union System Digitization Working Group's first released report: "June 2021 Industry Outlook."
Greg discussed the gaps and opportunities identified by the 41-person group to help expand credit unions' digital footprint in the immediate future. Some of those gaps and opportunities discovered include (Greg covered the first two in this discussion):
Not a one-size-fits-all approach
Speed and accessibility supersede the credit union value proposition
Unlike fintechs, CUs have robust regulatory environment
NCUA and digital
AI accelerating pace of change in the financial industry
Digitally advance CUs share best practices
Staying in touch with macro trends
We also talked about the five workstreams or discussion groups divvied up within the Digitization Group, which brings about a robust and diversified viewpoint to be addressed. Those workstreams include:
Analytics and Intelligence workstream
Empower Employees workstream
Member Relationships workstream
Optimize Operations workstream
Transform Products workstream
Much, much more in this conversation with Greg. Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.