The Credit Union Consulting Group's CEO, Ryan Ruud sounds off on the Credit Union Times website about the dangers of over-investment on "single acts of digital" and what the whole digital eco-system looks like for credit unions.
Here's a preview of Ryan's remarks:
As credit unions board the S.S. Digital and the ship sets sail in a sea of opportunity, an iceberg comes into view.
As the iceberg adage warns, there’s more than meets the eye.
Over-allocation of Digital Investments
When allocating investment, time, financial and human resources, towards digital, an overwhelming emphasis is placed on the online and mobile banking system.
Rightly so, in most regards.
This is, after all, a key touch point where members engage with and compare a credit union. The demand on this experience to be cutting edge and competitive is great.
However, as the saying goes, it’s only the tip of the iceberg.