Avoiding friction in your credit union’s operations
Consider the complexity of the technology platform required when making operational decisions.
In June 2020, Filene Research Institute hosted a virtual discussion focused on “The Art & Science of Organization.” This two-day discussion with 150-plus senior credit union leaders focused on new sources of friction resulting from COVID-19.
During the event, Brent Dixon, senior director of innovation for Filene, hosted a workshop titled, “Introducing the Friction Manifesto,” and participants were surveyed about sources of friction in their credit unions. (Get the results overview here.)
It was interesting to me that what these leaders found of most value are the benefits a provider specializing in portfolio protection can offer—ease of use, reduced friction, greater transparency, and more attentive, customized service.
What other areas of your credit union are better served by a business partner or vendor that is a specialist versus a multiple solutions provider? And, which areas might gain an advantage going in the opposite direction?
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