If payments are to continue as its mobile activity hub, credit unions must challenge disruptors by providing its members and business community with products and services that earn relevance and revenue.
Credit unions' role is critical to its local economy, especially when they create value that many financial technology startups just cannot, Jon Ungerland, cofounder of Aurora, Colo.-based mobile transaction platform provider DaLand Solutions, noted.
There is a connection between the idea of generating revenue and the terror of not remaining important to its members, Ungerland pointed out. That panic seems linked to the idea that technology companies could displace traditional financial institutions such as credit unions.
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