NEW YORK–CO-OP CEO Todd Clark told credit unions that in addition to a strong focus on “digital transformation,” the company is now focused on three things.
Clark told CO-OP’s THINK 17 Conference that it is executing around speed, scope, and the need to design systems that make it easier for credit unions to interact with the company.
“We have to think about how we affect you guys every time we make a change and introduce something new,” he said. “It’s not just how we disrupt the market, but how we impact you.”
Where CO-OP sees challenges and opportunities (and opportunities in the challenges), according to Clark, are in:
* Greater integration across channels.
* Simplified client experience.
* Deeper data, intelligence and reports
* Easier Expansion. “We have a thick contract for everything we do. What we should have is one reasonably thick contract for the initial relationship, and then not need new language and contracts for new relationships. And we can do that digitally, too.”
* Custom consultation service
* Highly sophisticated security authentication and reporting.
The credit union adage of “People Helping People” underlies everything at CO-OP, Clark said. “We have to get mindset on digital and make it part of our mission,” he said. “That’s why we are here. CO-OP was founded to be the tech leader in the credit union movement.”
Clark, who referred to credit unions are the original share economy—a message he said credit unions must do a better job of spreading–said CO-OP’s vision can be summed up in two words: seamless and secure.
To that end, he said CO-OP is now working to achieve five things:
- Create a single ecosystem that simplifies functionality
- Consultative client service that turns data into actionable strategies
- Member-facing innovations that deliver on omni-payment experience
- Reporting that streamlines data consumption with strategic bundling
- Data and business intelligence that leverage machine learning.
“Change for the better starts with a digital mindset,” he said. “We want everyone to embrace the spirit of ‘intrapreneurship.’ Remember, we are here to co-create with you.”