Channels, Devices Grew as Challenges Continued
As the old saying goes, "May you live in interesting times."
That's been the case this past year in credit union technology. That old saying is also considered a back-handed curse, but the challenges of deploying old-fashioned service across a growing array of high-tech channels also presents unprecedented opportunities, industry participants say.
In addition to cashing in, "there were a lot of areas where pure-play technology vendors were really innovating," added Roy at CUNA Mutual, "and there's more on the way." He noted for instance the rapid adoption of iPads and the "truly unprecedented release of new devices, nearly a dozen tablets alone, that we can expect to see in the next few months."
All these ways of connecting credit union members to their accounts-and credit union employees to their networks-also create a new wave of concern about an old problem-IT security and compliance.
"Integration has been our bread and butter, especially as it relates to the core applications, and we're now really working to find ways to increase our speed to market with new products and services," said Pat Valentino, senior vice president of real-time solutions at global integrated solutions provider FIS in Jacksonville, Fla.
"A challenge continues to be balancing the backroom versus member experience," she said. "I think that credit unions historically feel the need to own the product in order to control it but having all that ownership inside the credit union walls can make it more difficult to get a product to market quickly and improve the member experience. But we're seeing a shift in that, and more of our credit union customers are now embracing the fact that they don't have to own it to control it."