Is your credit union’s tech strategy falling behind?

As quickly as technology advances, so do the expectations of members for an instantaneous, protected, and intuitive experience from start to finish. Roughly 40% of users say a poor digital experience reduced how often they bank at a financial institution.

It’s clear that ensuring your credit union’s technology is competitive is critical to member growth and retention. Curious what technology other financial intuitions are investing in? And how much they’re allocating?

For the second year in a row, financial institutions have doubled their investment in technology. Per $1 billion in assets, the 2023 average was $780,000 and if the pattern continues by 2025, that number will exceed $1 million.

One of the many benefits of a partnership with Elan is access to our expertise, scale, and ability to bring products, solutions, and the latest technology to members quickly — and at no cost to your credit union.

 

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