Greg Varnell, Vice President, Product & Development for Q2 Innovation Studio, and Jonathan Price, EVP for Emerging Businesses, Corporate and Business Development at Q2, stopped by the show to discuss findings from their recent "The State of Digital Banking in 2022" report, which revealed an innovation gap for banks and credit unions.
Greg and Jonathan provided a quick summary of the study and discussed some of the surprising findings:
More than 60% of financial institutions see fintech partnerships as key to their growth strategy
Only 10% of the survey respondents said they have fintech partnerships but can add new ones quickly
79% of those surveyed said they can bring multiple new solutions to the market at one time
1 in 5 financial institutions struggle to bring a new solution to market within 12 months
They addressed how can credit unions can overcome this gap and bring fintech solutions into their offerings instead of at bay. In addition, Greg and Jonathan share the significance of these findings for credit unions. Should credit unions be alarmed by these findings?
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.