Security should remain the priority for CUs.

While technological advancements continue to drive the evolution of digital transactions, credit unions are feeling the pressure to keep up with industry trends to compete with larger institutions and remain relevant to their members. Convenience is at the center of the member experience today – driving many of the offerings credit unions provide. With more than 50% of consumers using mobile banking, according to the Federal Reserve, credit unions realize the importance of putting financial services in their members’ hands.

Credit unions have long offered mobile banking, digital payments, bill pay and even text message alerts about account activity. However, they still lag behind their big bank counterparts when it comes to rolling out debit card management, biometrics and even faster transaction processes. These features are great for the member experience, but they may come at a cost.

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