Digital service and temperatures are heating up as credit unions leverage technology to provide their members with seamless banking experiences to match the sunny vibes of the season. From mobile banking apps that allow easy access to financial services on the run—even at the beach—to online loan applications that expedite the borrowing process, credit unions riding the digital wave will ensure their members can make the most of their summer adventures.
Last month was the annual FinovateSpring conference, and as always, it did not disappoint. This conference is said to be “the future of Fintech events” and has been described as “the best Fintech show of the year.” This year, FinovateSpring took place at Marriott Marquis in San Francisco on May 23-25 where 1,300+ attendees were able to engage with impressive demos, insightful keynote speakers and expert panels. This event was a great opportunity for professionals in the Fintech industry to see the newest, most innovative technology, meet new people and discover new organizations. I had the privilege to participate in the first FinovateSpring in 2008 and have been fortunate enough to attend every event since. Attending for 16 years in a row, including the virtual events during the pandemic, has given me many valuable opportunities to learn more about this constantly evolving industry.
This year marked BankTech Ventures second annual Limited Partner Summit. BankTech Ventures is the first venture fund created specifically by and for key leaders in the community banking landscape. Launched in 2021, over 100 banks are now part of the fund, with 11 investments already made and over 100 companies in its current pipeline ready to continue fueling the innovation ecosystem for community banks.
Public relations programs will always vary based on a fintech’s unique goals and market position. But, whether it’s a startup or a more established company, with one competitor or hundreds, organizations’ public relations programs should focus on a three-pronged approach: building brand awareness, educating key audiences and establishing credibility. To optimize success, there are three key tactics companies should prioritize when developing their public relations strategy.
Fintech Nexus completed its metamorphosis. In 2022, the show launched its transition from LendIt into a namesake focused on industry connections. The two-day show remained in New York, gathering a good crowd of fintechs, venture capitalists, banks, credit unions, media and influencers. While there were still strong lending echoes from the vendors in the exhibit hall, the agenda this year was balanced with a wider focus on payments, embedded banking, security, consumer data and more.
As the business world becomes more competitive, it is increasingly important to have a unique edge that sets you apart from the competition. In today's media landscape, data is highly valued. The most credible media outlets look to data as a source of objective information that supports their reporting. By providing journalists with valuable data, you increase the likelihood that they will cover your story or interview you as an expert in your field. Developing a report and hosting it on your website, making it available for download, and issuing a press release to relevant media contacts sharing highlights of your research are all effective ways to get your data in front of journalists.
Technology has both enhanced and hindered the financial industry. While many institutions have used tech to modernize consumer experiences and streamline office processes, many institutions have fallen victim to “shiny object syndrome” and adopted solutions that have complicated their operations or simply don’t work as they should.
Taylor Swift’s Eras Tour is taking the media by storm. This concert, with its 40+ song setlist, goes through all of Taylor’s iconic “eras” ranging from her debut country albums to her pop albums to her more recent folk albums. The evolution of Taylor’s brand teaches us that adaptability is key to remaining competitive in your industry and your customer loyalty will ultimately be the driving force in building your reputation.
"Technology has made banking faster than ever before, and there's no going back to the slower pace of the past." – Suresh Renganathan, CTO for Teachers Federal Credit Union
By now you’re almost certainly familiar with the concept of generative AI and more specifically, OpenAI’s ChatGPT – what it is, what it isn’t, what it can (and can’t) do…..yet. From its formal introduction late last year to now the release of the next generation, ChatGPT 4, generative AI and its potential impact on our society has consumed the attention of the media, the investment community, the business community, our political leaders, you name it.