Envisant (formerly LSC) has teamed up with Filene Research Institute to support the Center of Excellence for Innovation and Incubation. As the only league service corporation to sponsor this initiative, Envisant is honored to help advance credit union innovation. This program matches Envisant’s own passion for forward-thinking strategy and service. Supporting in-depth research is one of the many ways Envisant works to broaden the advancement of credit unions.
Begun in March of 2021, Filene’s Center of Excellence for Innovation and Incubation is a three-year research project that measures and develops credit union innovation capabilities. It connects credit unions with the insights and resources that empower them to lead the way in innovative services and products consumers seek. As a result of this project, credit unions will have the tools needed to build systems, cultures and processes for innovation and be adaptive to changing needs of members and communities long into the future.
“The consumer finance industry is being disrupted and fragmented with incredible speed as new technologies, solutions, providers, and interfaces appear almost daily. At the same time, broader economic changes and the effects of the global pandemic have reshaped communities, job markets, and the state of consumer financial health,” said Filene’s President and CEO Mark Meyer. “In this ever-changing environment, credit unions must learn to adapt and uncover new solutions and business models that support their growth and impact. The center’s focus on the process of innovation will expand credit unions’ capabilities to solve consumer and business problems in novel and sustainable ways.”
“I’m excited Envisant is a part of leading the way to greater credit union development by supporting the Center of Excellence for Innovation and Incubation,” stated Libby Calderone, President of Envisant (formerly LSC). “The insights from the innovation center will no doubt become an invaluable guide for credit unions as they work to fulfill changing member needs and incorporate technological developments that meet member expectations into their future strategies.”
“It’s an honor to have Envisant, a business subsidiary of the Illinois Credit Union League, be the first CUSO supporter of Filene’s latest research project,” said Tom Kane, President and CEO of the Illinois Credit Union League. “In this dynamic financial service space, life and business operations can change course quickly for both credit unions and their members. Research into practical approaches for innovation and applicable business models is a must to keep the credit union movement going strong in support of members’ financial well-being.”