X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Credit unions looking for fintech partners during M&As. Source: Shutterstock

Consolidation in the banking industry is nothing new. Financial institutions of all sizes – from smaller credit unions to even the largest players – are looking for opportunities to band together to find efficiencies, adopt new technologies, remain competitive and, above all else, grow. Amplifying this drive to consolidate is pressure from innovative neo-banks, lifestyle brands and fintechs that have been quick to capitalize on consumer appetite for turnkey, digital experiences, leaving more established institutions scrambling to play catch-up. In other words, two of the main drivers of M&A in today’s banking sector are the disruptive influence of technology and the critical need to meet the needs of today’s digital-first customer.

But merging with another credit union is rarely (if ever) a perfect solution for those looking to maintain their competitive edge, especially when it comes to technology. Moreover, the conventional wisdom about how to effectively navigate the post-transaction period – from a technology perspective, at least – may not actually be the best approach.

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.