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Expert Opinion

Inspiring Innovation in the Information Age

CUs must position themselves to adapt to shifting industry norms as well as society’s rapidly-changing technological preferences.

By Robin Kolvek | Updated on November 09, 2018
Innovation, ideas

As the information age continues its ascension, organizations must innovate new products and services that meet society’s frequently changing technological needs – especially in the financial industry. Credit unions must constantly differentiate themselves from the pack to attract and maintain membership levels. From mobile banking to artificial intelligence, financial institutions have evolved their technology strategies to adapt to the ever-changing landscape. According to a survey conducted by Deloitte, “More than two-thirds [of the financial services executives surveyed] felt that technology innovation will play a key role in industry change.”

Clearly, it has never been more important for credit unions to have a framework in place that emboldens innovative thinking and problem solving. So, what principles should leaders follow when formulating an innovation-based culture?

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