Strategic Link Sheds Light on 2021 Tech Trends and Credit Union Priorities
The financial services marketplace is rapidly evolving, with both the threat and opportunity of unregulated fintech, big tech, and challenger banks. Northwest credit unions are approaching this competitive landscape as thought leaders dedicated to further leveraging their unique structure, value, and impact.
“As the Credit Union Movement drives forward in a new year, Strategic Link stands as a partner, advocate, and champion in this continued journey for innovation and excellence,” said Cameron Smith, Vice President of Strategic Partnerships and Resources. “Our goal remains clear: to convene and channel the power of cooperative intelligence among Northwest credit unions.”
This mission is best represented through the Value Creation Task Force, which is laser-focused on vetting the latest in digital innovation, adding business partners and emerging technology providers to Strategic Link’s suite of solutions. Task force members are credit union leaders and understand what’s needed now and into the future. Together, they examine emerging trends and find solutions that enable credit unions to deliver more value to their members through high-functioning operations and sustainable growth.
What’s on the Horizon?
Throughout 2021 and beyond, the credit union industry will continue to see an accelerated shift to digital with members expecting a frictionless experience across all channels, said Smith. Collaboration with business partners is key, as credit unions leverage technology that offers data analytics, artificial intelligence, and blockchain technologies.
“Solutions for texting, video chat, and collaboration tools like co-browsing will be essential to fostering close, personal connections with members in the digital space,” Smith said. “The industry also will see a deeper focus on cybersecurity, secure authentication, fraud prevention, and data privacy, as digital adoption continues apace and regulations evolve.”
The Northwest will play a key role in this conversation, with Washington Senator, Maria Cantwell, assuming the gavel of the Senate Committee on Commerce, Science, and Transportation, and Congresswoman Cathy McMorris Rodgers (R-WA-5) leading minority perspective in the House on privacy.
Strategic Link is grateful for Northwest credit unions’ continued engagement and leadership — it is needed now more than ever. Contact the Strategic Link team to learn more about strategic business partners, to share your credit union’s experience, propose new partners, and help empower our shared efforts for innovation and excellence.