Economic hits and likely regulatory changes have made developing back office collaboration essential if credit unions are to survive, according to a new report from the Filene Research Institute.
In the executive summary to A Road Map To Credit Union Back-Office Collaboration George Hofheimer, Chief Research Officer for Filene, put the situation starkly, using a business metaphor commonly called the "burning platform."
"When the dust settles, what will the brave new world of banking look like," Hofheimer asked. Will there be a burning platform that spurs credit unions to consider a dramatic shift in the way they operate? Does collaboration play a role? Are you willing to wait for the burning platform?"
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