One of the biggest mistakes credit unions can make in serving their business members is treating them like their traditional members.
Aite Group session next Wednesday to follow up on survey of 83 credit unions conducted this past winter.
Despite having a small percentage of business members, some credit unions believe they are now better positioned to grow their penetration in the small business market than they were prior to the start of the financial crisis a few years ago.
The banking crisis of the past couple years has created both challenge and opportunity for credit unions as they adapt their IT tools to a new normal.
Fiserv Inc., a company known for growing by acquisition since its creation in 1984, has announced three new acquisitions, including a credit union core processing service bureau, a mobile banking and payments provider and startup prepaid card specialist.
The corporate mobile banking market might hold potential for credit unions wanting to push the envelope on business services.
Credit unions wanting to make some inroads into the business services market might consider the mobile channel.
The traditional core processing model is alive and well despite the buffeting winds of change and challenge, and in fact, could be a bit of a growth industry.
Frustration among small business owners toward their banks appears to be growing, and a number of them said they are making plans to jump ship over the next two years.