Credit Unions Home-Brew Custom Apps
It may be too early to call it a trend but at a growing—albeit small—number of credit unions are using internal IT staff to develop mobile apps, rather than buying them off the shelf.
“We did not see what we wanted off the shelf. We came to the conclusion that we needed to build our apps ourselves,” said Ray Black, vice president of marketing and remote delivery at the $1.5 billion Genisys Credit Union in Auburn Hills, Mich.
Another home brewer is Navy Federal, the $55 billion Vienna, Va.-based credit union, which develops all its apps in house, “with help as needed from consultants,” said Meghan Gound, assistant vice president of eChannels. On the drawing boards at Navy Fed is development of a credit card application tool that, Gound said, will feature a wizard that lets a member quickly sort through many credit card options to find one that best suits his or her needs.
The aim is to let a member apply in three steps and get an immediate decision, said Gound, who said the app will launch this winter.