ST. PETERSBURG, Fla.– PSCU/Co-op Solutions has launched a new Fintech Engagement Program, which it said is designed to drive collaboration between financial solutions providers and fintech companies.
In announcing the new program, the company cited research from Cornerstone Advisors that found 70% of financial institutions report fintech partnerships are important to their business strategies.
“However, many fintech and financial institution partnerships are falling short of anticipated results,” the company said. “Three-quarters (75%) of venture capital-backed fintech startups fail, and fintech funding experienced a 46% decline from Q3 2022 to Q3 2023.”
Through the new program, PSCU/Co-op Solutions said the objective is to bridge the fintech-credit union gap, providing a “collaborative space for developing new solutions to meet the needs of both credit unions and their members.”
‘Almost Limitless’
“The opportunities fintechs represent for credit unions – from access to cutting-edge technologies to workplace efficiencies and more – are almost limitless when the right partners come together and work toward the same goal,” said Vladimir Jovanovic, vice president of Innovation, PSCU/Co-op Solutions. “Our Fintech Engagement Program aims to connect these two groups – fintechs and credit unions – to discover possibilities, unlock opportunities and help navigate challenges.”
About the Program
According to the company, the program consists of a collection of vetted fintech companies and a Fintech Advisory Board comprising credit unions that understand industry pain points and desire an active role in addressing them.
Board members will be committed to disrupting traditional ways of banking and willing to identify use cases, as well as actively participate in ideation and proofs of concepts, PSCU/Co-op Solutions said.
For more info: pscu.com/fintech.
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