Shared Accounts With CU Times: Planning Your Fintech Future
Velera’s Principal of Emerging Services, Chris Corse chats with us about how CUs can build strong fintech strategies for future success.
The relationships between credit unions and fintechs have softened considerably since the disrupting-fear years of the early 2000s. Today, the connections between credit unions and fintechs are a must!
Principal of Emerging Services at Velera, formerly PSCU and Co-op Solutions, Chris Corse came to the podcast and laid out how that fintech Cold War era is over, because both sides finally realized a relationship with credit unions and fintechs is a mutually beneficial way to individually thrive.
When it comes to innovation, according to Corse, “fintechs are extremely important” for credit unions. Expanded products and services without an internal development team is the big example of how this innovation idea plays out in real life for credit union members. Of note, he said Gen Z members are quietly comparing how credit unions function and behave as it relates to the larger fintech banking organizations.
Corse also spoke about internal and external credit union business strategies and how leveraging fintechs can help credit union executives meet those strategic goals. He added, instead of one person leading the charge of a credit union’s fintech strategy, the entire senior management team should be involved.
Now, did we weirdly use the Michigan-Ohio State rivalry as an example of how fintechs and credit unions formerly saw each other? Yes. And, did Corse join a credit union because of his wife? Also, yes.
Take a listen to the full discussion!