We’ll be hosting another Credit Union Ideas Exchange on 2nd May. If you’d like to come along, book your place. Back in January we had 20 people from 15 credit unions sharing best practice. Key challenges Participants identified growing the loan book as the key challenge. Priorities for 2019 focussed on different ways to achieve … Read moreThe January Ideas Exchange: follow up
Back office systems that do everything don’t exist. Buying software on the basis that it covers all your business needs is last century’s strategy. IT platforms operating as part of a wider ‘eco-system’ enable you to pick best in class functionality. An eco-system approach enables specialisation. Maintaining a core banking platform is enough to keep … Read moreStill applying last century’s IT strategy?
Ten years ago I ran a focus group of low income borrowers to understand the impact the Government’s Growth Fund initiative had on credit union members. What suprised me was how much borrowers were willing to pay for convenience of service. I’d assumed that lower interest rates and weekly payments were enough. Removing friction in … Read moreSatsuma goes pear-shaped (slick customer experience isn’t enough)