Embracing digital transformation
It’s no secret that technology is transforming and shaping the financial services industry day-by-day. Most modernization is welcomed with open arms by both credit unions and the members they serve. However, since a road map for navigating the latest technology trends doesn’t exist, it’s up to us as leaders to take stock of what the future of financial services looks like and act on new advancements in technology.
But let me be clear: That doesn’t mean we should immediately introduce new technologies at every opportunity. Some level of experimentation and thoughtfulness is needed, though. In a fast-paced environment that is constantly evolving, it’s important to embrace the positives that technology has to offer.
There’s an argument that technological advancements lessen human contact – but I encourage you to challenge this notion. Consider, for example, how the benefits of automation for more manual or processing work may allow credit union staff more time for in-depth, one-on-one time with members. Taking advantage of technology doesn’t mean you have to completely eliminate personal interactions.
We have all shown resilience in the face of uncertainty as we navigated the coronavirus pandemic and the economic turmoil that followed in its wake. And it’s true that the pandemic called for a quick pivot to technology for business continuity. So whether your credit union is in the early days of its journey on the path to the digital age, or is an early adapter for innovation and digitization – NAFCU is here to help.
Next week at NAFCU’s Annual Conference: Engage 2023, attendees will get a detailed look at the technology trends shaping credit unions today. My hope is that each person walks out of the conference with a greater understanding of how to take advantage of opportunities, identify and tactfully side-step obstacles, and ultimately connect with members and engage with their communities on a whole new level.
NAFCU’s Vendor Directory is also an excellent place to start when looking for solution providers that specifically serve credit unions.
There are technology tools and solutions for your credit union out there. I encourage you to dig in, do the research, and embrace the digital transformation. Don’t hesitate to reach out with any questions you may have.