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How Fintechs Can Help Credit Unions Cope With the New Normal

By partnering with collaborative fintechs, CUs can make the technological changes they need to comply with new regulations.

By Russell Bennett | Updated on July 13, 2018
Technology can help CUs streamline compliance tasks.

Since the global financial crash of 2008, an ever-expanding list of new regulations have helped reshape the banking landscape all over the world. Many institutions across the traditional, conservative banking sector have struggled to adapt in the decade that followed the initial collapse, and there are no signs that the relentless wave of regulation will end any time soon.

The latest round of new rulings, exemplified by the Second Payment Services Directive (PSD2), are forcing many financial institutions to make wholesale changes to the way they operate. However, in many cases they are simply not equipped to deliver the transformative change that is required.

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