FOND DU LAC, Wis.–There is a Sink-or-Swim Crossroad ahead for credit unions.
That’s the thrust of a white paper released by Info-Pro Lender Services and the Filene Research Institute, which suggests a “new wave of technology that has the potential to dramatically transform the financial sector” likes just ahead.
Titled, “State of Data Technology in Credit Unions: The Sink-or-Swim Crossroad Ahead” states that the “new wave is being triggered by the changing habits of consumers moving to mobile platforms to interact and transact with financial institutions, and the digitization of the information that powers the decision making in financial for both consumers and providers. An additional trigger is the democratization.”
The paper, authored by Jignesh M. Patel, professor of computer sciences at the University of Wisconsin-Madison, and George Hofheimer, chief knowledge officer with Filene, seeks to “determine the role of technology in empowering credit unions to meet the challenges they face today as well as those they anticipate in the near future.”
The complete white paper can be found in CUToday.info’s The Vault here.