Go digital or go bust: Today’s commandment for lasting credit union success
by Robert McGarvey
There is one, very loud message in a new report from Alkami – now it is digital that matters in banking … really matters.
Understand however: Alkami has not commandeered a soap box in the public square and simply begun to chant that. What it has in fact done is survey “over 1,500 U.S. participants who currently have a bank account and are active in digital banking (check accounts, transfer funds, pay bills online, etc.) and [are] weighted to the 2020 U.S. Census for age, region, gender, and ethnicity for a very low margin of error.”
What the surveyed 1500 said should scare almost all credit union executives.
Here is one of the frightening discoveries: “Regional and community FI account holders are less likely than all other financial provider cohorts to believe their financial relationship will grow over the next year.”