Credit unions can reach new growth by finding their niche
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Credit unions are frequently bombarded with messages about the importance of digital investment and transformation. Fintechs and challenger banks with brand-new, bespoke technology ecosystems are capturing a growing amount of market share, and people who would traditionally rely on credit union services are increasingly drawn to these low-cost, online-only banks. “Adapt or become obsolete” is heard so often that it begins to sound less like a warning and more like a threat. With so many avenues to digital banking and the hefty price tag associated with most of them it’s no wonder credit union leaders get overwhelmed at the prospect of launching new digital initiatives and prefer to stay the course, no matter how rocky it may be.
Top 15 Global FinTech Industry Influencers 2021 Top 15 Global FinTech Industry Influencers 2021
FinTech, or financial technology, is the terminology utilized to describe any tech that has an objective to enhance the delivery of financial solutions and services. These services diverge extremely from mobile devices to applications that assist in connecting involved stakeholders with their finances and business-to-business technology.
The FinTech industry is advancing with innovative Fintech App Development concepts and ideas. Startups, unicorns, and digital banks are dynamically transforming the financial landscape through innovative Fintech Software Development Services.
There were around 8,775 Fintech startups in the USA in Feb 2020, making it the region with the most Fintech startups world-wise, followed by 7,385 such startups in Europe, the Middle East, as well as Africa, and around 4,765 in the Asia Pacific region.
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