Build a Modern Banking Experience for your Members

By Preston Packer |

May

22

According to a LinkedIn study, Millennials will change jobs an average of four times in their first decade out of college, compared to about two job changes by Gen Xers in their first ten years out of college. This in contrast to their parents and grandparents, who seemingly "stuck it out" for longer, with the mentality of "why leave a perfectly good job for an uncertain one." even if the promise of greater money and benefits was appealing. While the reasons for younger generations to job hop more frequently are not limited to just factors of pay and benefits, a study by Utah-based Thrive Communications found that over 20 percent of Millennials would actually quit a job if the employer did not offer fast in-office technology. Technology is such a central and crucial aspect of this generations' lives that businesses who do not adopt new technologies will not keep the hearts of younger generations for long. It is not so much a lack of loyalty as it is a shift in priority. For this very reason, credit unions who wish to attract and keep Millennial members must build a modern banking experience, and do it well. 

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The Top Banking Trends in 2019

By Preston Packer |

May

08

Not too long ago, there was a lot of skepticism associated with digital banking. Many assumed it was not secure, and even more people would not have considered a digital-only model for their credit union. Today the financial landscape is changing, and rather than being skeptical of digital, people are becoming impatient with traditional banking institutions‚Ķ particularly Millennials. Younger generations are demonstrating their lack of trust in the traditional banking system at an unprecedented rate. Here are trends financial institutions can expect in 2019.

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Digital-Only Banking... Futuristic or Fundamental?

By Preston Packer |

May

02

Credit unions thrive on personal interaction and service. After all, many credit unions were founded for a lack of personalization in their local banking community. However, technology has brought on an opposing, yet competing, banking solution. Digital-only banks are low-cost solutions for those who want to manage their banking needs exclusively online. Digital-only financial institutions are defined as strictly digital banking solutions. So banks and credit unions that have in-branch service and brick and mortar options that also happen to offer full digital service, cannot be considered a digital-only bank. Digital-only institutions are more commonplace overseas but they are gaining momentum here in the United States. Here is the scoop on digital-only institutions in the financial industry today.

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