Reinventing Banking in 2025

As we transition from 2024 to 2025, the banking industry continues to evolve, but there’s still plenty of room for improvement. In the second installment of our client predictions blog series, we've gathered insights from industry leaders on the key areas that could see significant improvements in the coming year. Our clients share their thoughts on how banks can adapt and improve to meet the rising demands of both technology and customer expectations.

What could be greatly improved in banking from 2024 to 2025?

Shelby Austin, CEO, Arteria AI
Documentation remains a tremendous pain point across the industry. The process of generating, negotiating, executing and monitoring documentation remains largely unautomated. This has created inefficiency, risk and cost in every process that involves a document, and the data remains significantly underutilized. The solution set is here and real–modern documentation technology digitizes documents to drive automation and intelligence into core processes. For the majority of organizations, this is largely an untapped opportunity where modest investments can yield outsized ROI across the value chain.

Tony Nigrelli, VP of Mesh & Delivery, Core10
By shifting from a product-centered to a customer-centric approach grounded in actionable data insights, banks can deliver high-impact, individualized experiences that meet rising consumer expectations, foster stronger relationships, and secure long-term loyalty.

Matt Potere, CEO, Happy Money
The credit card debt crisis continues for consumers across the country as many have heavily relied on credit for everyday needs in the face of inflation and high interest rates. This has brought U.S. credit card debt to a staggering $1.14 trillion. This presents a significant opportunity for credit unions to support these members, providing products and tools for a happier financial future.

Denny C. Howell, COO/HR, Mahalo Banking
In 2025, credit unions should prioritize cybersecurity to combat evolving digital threats while leveraging advanced technologies to enhance operational efficiency, reduce costs, and improve service delivery. Promoting financial inclusion through accessible platform features—such as intuitive navigation, enhanced visual settings, and tools for differently-abled individuals—will also ensure all members can seamlessly engage with digital channels.

Rick Wettlaufer, Vice President, Client Success, MDT
As cyberattacks continue to rise, data security is an area ripe for improvement. There should be a focus on protecting not only internal data and information but also making sure that vendor data management is strong. It’s more important than ever that credit unions have a firmer grasp of how vendors are managing and protecting data.

Bob Child, Chief Operating Officer, Origence
While platforms like Cars.com and CarGurus have supported online car shopping for years, consumer behavior is evolving. More people now begin their financing journey online but still finalize purchases at the dealership. This shift presents an opportunity for credit unions to embrace embedded financing and meet consumers where they shop. Industry-wide aggregation will be critical to taking advantage of these opportunities as retailers and dealers look to partner with credit unions for their affordable financing options.

Keith Riddle, General Manager, Payfinia CUSO
Credit unions should identify internal use cases where traditional payment networks (i.e. ACH and wire transfers) are typically used, and evaluate the operational and member experience enhancements of instant payment workflows, including member-assisted payment requests and supplier payments.   

Preethi Janardhanan, VP, Client Solutions, Rapid Finance
One key area for improvement is the adoption of technology that empowers credit unions to better serve small businesses through data-driven decisions. Leveraging member data can unlock deeper insights, enabling highly personalized services, faster onboarding or credit decisioning and tailored financial solutions, improving member satisfaction and loyalty.

Amanda Crocker, COO & Interim CEO, SWIVEL^®, an SWBC Company
For 2025, the industry must also fully embrace an AI-first mindset within its product and engineering teams. AI is not merely about automating processes; it focuses on developing smarter systems that anticipate customer needs, drive proactive engagement and deliver real-time solutions. This approach will be essential for banks to stay competitive through innovation, grow trust and provide an exceptional digital experience for their customers.

Mac Thompson, CEO & Founder, White Clay
Credit unions should invest in technology that builds real connections between representatives and customers/members, rather than chasing ‘shiny new objects’. With economic pressure rising and many living paycheck to paycheck, financial institutions have a unique chance to differentiate themselves by providing personalized financial support at critical moments.

Gary Singh, President, Zeta, North America
Enhancing real-time transaction monitoring, adopting AI-driven fraud detection and streamlining automated compliance processes are key areas for improvement. Additionally, banks should prioritize strengthening data privacy and simplifying cross-border operations. Financial institutions can create a more transparent, secure and efficient ecosystem by fostering partnerships with regulators and leveraging advanced technology.

These responses were originally published by Credit Union Business News and Bank Business News.