fintech acquisition Source: Shutterstock.

With rapidly changing advancements in technology, credit unions are becoming more empowered every day to make huge strides toward developing a seamless digital strategy. As member demands evolve and younger generations begin seeking financial support, it’s no surprise that credit unions across the nation are increasingly seeking partnerships with tech vendors. In fact, 88% of credit union and bank executives increased their spending on technology in 2019, according to a recent survey from Cornerstone Advisors.

However, without the correct vendor, credit unions can find themselves taking steps in the wrong direction. It’s important for credit unions to consider the different characteristics to look for when selecting a tech vendor and understand how a true partnership, beyond implementation, will benefit both organizations involved. To ensure a credit union continues moving forward to achieve digital transformation, a strategic fintech partnership is crucial.

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