Ted Bilke, president of core provider Symitar, a division of the Monett, Mo.-based Jack Henry & Associates, offered several 2017 trends and predictions that could impact credit unions directly or indirectly.

1. Growth Strategy

• Geographic expansion will continue. "Larger credit unions will reach into more expansive regional territories, especially if the NCUA allows credit unions to expand their charters."
• M&A consolidation will continue its steady pace for credit unions below $50 million in assets.
• The small business market will grow among credit unions, with more institutions seeking to grow and diversify their portfolios through member business lending and deposits.

2. Channel Strategy

• The digital channel will continue its rapid evolution with further advances in user experience, adaptability, functionality, and channel integration. "The channel will help credit unions break into new geographic regions."
• The buy button, an easy way for members to discover and purchase products in real time, is in high demand. "More members and businesses will prefer to open accounts digitally, pushing credit unions to offer more efficient onboarding options."
• Chatbots offer promising enhanced artificial intelligence and natural language capabilities. This makes the solutions more applicable to a variety of financial services in 2017 such as collections, customer service, payments, and savings or personal financial management solutions.