Co-op outlines 7 strategies for CUs seeking digital transformation

 In News

A new white paper from Co-op Financial Services, Seven Strategies to Accelerate Your Digital Transformation, offers guidance for credit unions looking to positioning themselves for growth in a digital world, according to a press release.

“While most financial services providers understand the ‘what and why’ of digital transformation, they are less comfortable with the ‘how,'” Co-op President and CEO Todd Clark said. “We’ve seen firsthand the acceleration of the digital marketplace and understand that digital transformation is the only solution forward. This paper identifies seven essential strategies we’ve discovered through our own shift from a legacy organization to a digital-first, integrated ecosystem.”

The white paper advises readers to:

  • Be member-centric — go beyond meeting expectations to anticipating and surpassing them.
  • Use data to optimize engagement — generate distinctive member profiles and personalized services through data analytics.
  • Be digitally accessible — use APIs and clicks-and-mortar tools to serve members through digital-first channels.
  • Drive excellence through AI — support experiences and data collection in real time.
  • Make security a tool for growth — provide a frictionless and anticipatory service through cybersecurity and machine learning.
  • Integrate channel experiences — provide a convenient and seamless consumer experience at every touch point.
  • Embrace platform thinking — innovate across channels, embracing partnerships and delivering new services.
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