Using competitive intelligence to take back banking

What happens when the industry you operate in is in transition and you no longer know exactly who you’re competing against?  What happens when change is occurring so rapidly that new market entrants are encroaching on your territory faster than you can react?  Worst of all…what happens if you can’t see it coming?  If you’re in the banking industry, you’re likely aware that these forces are taking shape all around you. The real question is what are you doing about it?

It’s Time For Credit Unions To Take Back Banking

Neobanks, “big tech,” and fintechs such as Square, Chime and Paypal are helping erode the banking industry.  With each new entrant or product, bank brands are being disintermediated from the consumer. Here are just a few examples of the shifting dynamics in the banking industry that have the potential to leave banks and credit unions behind: