Apiture’s SVP Enterprise Partnerships Jen Dimenna joined us on the show to share key trends and highlights from their recent survey with Datos Insights on how credit unions can better capture the growing millennial-led small business market -- and why they should want/need to: "Winning Market Share Among Millennial-Run Small Businesses."

Jen provided a quick overview of their recent survey on how credit unions can better capture the growing millennial-led small business market, sharing that more than half (55%) of millennial-run small businesses would prefer to bank with a community bank or credit union if it offered similar products and capabilities to a large bank.

Other findings Jen shared from their report:

• 90% prefer bank with community bank or CU of they offered products and services that benefit them
• 40% of millennial businesses are tech savvy and comfortable with changing tech in this space (fast adopters of tech)
• 9% of millennial unwilling to pay for small biz services (90% will pay!)
• More than 60% of those businesses bank with a big four bank
• 37% want better payment capabilities
• 35% want enhanced mobile capabilities
• 81% partner with a Venmo, PayPal, bill.com solution
• 33% Improved ease of ease of use when initiating transactions

She also shared the importance of AI in small businesses today, sharing that 40% of Millennials running small businesses are comfortable with using AI.

Laslty, Jen talked about the call to action for credit unions, prompting them to act on these small business opportunities based on the findings.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

Corlinda Wooden, president of Wooden Consulting, stopped by the show to share the big news about being selected to serve as the Backbone coalition's liaison among the organization's nationwide membership, as well as lead efforts to grow the coalition to all credit unions across the country.

Corlinda shared her new role's responsibilities, along with why she chose to join Backbone and short- and long-term goals.

In addition, she talked about what’s new with Backbone -- sharing recent successes in the mainstream media and more credit unions joining.

Lastly, Corlinda touched on why credit union leaders consider joining the coalition and how credit union leaders can get in touch about joining the coalition. Email Corlinda at [email protected] for more info.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

Janusea's Founder/CEO Kyle Stutzman and Glide's Founder/CEO Gautam Ajjarapu stopped by the Studio Lounge to discuss how their organizations' partnership (much to my surprise as you'll see) helps credit unions better integrate financial technology solutions no matter the core -- two-minute account opening and loan origination in this case.

Kyle and Gautam talked about the partnership aiming to improve staff experiences and reduce manual tasks. They added that automation and AI integration are essential for streamlining operations.

Q&A summary
What is Glide's two-minute account opening product and how does it benefit users?
Glide's two-minute account opening product allows individuals without prior relationships with credit unions to establish accounts quickly and efficiently, getting them funded in under two minutes, all from their mobile devices.
How does Glide's partnership with Janusea enhance the account opening process for credit unions?
The partnership allows for seamless data transfer between systems, reducing manual data entry for credit union staff, which saves time and improves efficiency in account openings.
What challenges do credit union staff face during the account opening process?
Staff often spend excessive time on manual tasks, such as copying data between systems, which detracts from their ability to engage with members and understand their needs.
What role does data orchestration play in Glide's services?
Data orchestration allows credit unions to utilize alternative data effectively, enhancing their ability to perform fraud checks and improve member services by leveraging existing data in innovative ways.
What is the overarching goal of Glide and Janusea's partnership?
The primary goal is to enhance both member and staff experiences by streamlining processes, improving efficiency, and reducing the complexity of vendor management for credit unions.

​Check it out and let us know your thoughts. And be sure to watch more of our Studio Lounge interviews from Eltropy Emerge on our episode archive page -- as well as supporting our host/sponsor: Eltropy.

Jeff Sanders, Vice President of IT at Mid Oregon Credit Union, joined us in the Studio Lounge to talk about AI projects in voice technology. In particular, Jeff stressed need for a streamlined communication strategy to improve staff interactions and member experiences.

He also discussed future plans for enhancing voice technology and documentation access.

Check it out and let us know your thoughts. And be sure to watch more of our Studio Lounge interviews from Eltropy Emerge on our episode archive page -- as well as supporting our host/sponsor: Eltropy.

Rob White, Tri County Area Federal Credit Union VP of Operations, joined us in the Studio Lounge to share highlights from his conference session on "Redefining the Branch: Smart Strategies for a Digital-First World."

In particular, Rob highlighted the importance of enhancing the member experience through digital products -- discussing how to redefine branch strategies in a digital-first world, especially post-COVID-19.

He shared how new digital products launched during the pandemic improved member interactions -- one of those be efficient texting methods for closing loans and collections.

Lastly, he touched on the significance of human interaction alongside AI tools, as well as with the integration of digital products for streamlined operations.

​Check it out and let us know your thoughts. And be sure to watch more of our Studio Lounge interviews from Eltropy Emerge on our episode archive page -- as well as supporting our host/sponsor: Eltropy.