THINK 18 marked the official start of the “Race to Excellence” and the acceleration of the credit union movement through digital transformation. Since that time, credit unions have been making great strides in embracing digital transformation, as was revealed at the first three CO-OP Roadshows in Boulder, Detroit and Des Moines. The events gave credit unions an opportunity to assess their progress, learn and share new ideas for bringing digital innovation to their members.
“We are all living digitally-driven lives – as consumers and as executives and employees,” said Amanda Atcheson, Director of Marketing and Brand Strategy for CO-OP. “This transformation is already happening, and the good news is that making the transformation yourselves will open a world of opportunity for your credit unions and the members you serve.”
Sure enough, credit unions are quickly adapting that mantra. The record levels of attendance at this year’s Roadshows reveal that, despite busy schedules, credit union professionals of all levels are taking the time to work on developing member-centric strategies and discover new ways to achieve excellence.
CO-OP has similarly been charting a path towards digital transformation and bringing those benefits to credit unions. The Roadshows offered a closer look at some of those initiatives.
Spotlight on AI
With this year’s Roadshows being focused emerging innovation, it was no surprise that AI and machine learning were big topics of discussion.
“83 percent of financial services executives have said they are already evaluating AI and machine learning to gauge the potential positive impact for their organizations,” said Nancy Didwell, Midwest Division Executive for CO-OP. “Ironically, this is also the percentage of executives who report that they don’t really know how they would implement it.”
This year’s Roadshows feature content designed to help break down the complexities of AI adoption, helping credit unions discover how to anticipate and navigate digital challenges while reaping the benefits of a sound data strategy from day one. They also offer a closer look at COOPER, CO-OP’s advanced data-driven fraud mitigation platform, now in pilot testing.
“As CO-OP rolls out COOPER, Roadshows provide attendees with both a roadmap for how this powerful data-driven solution will be implemented, and an opportunity to ask questions and share insights about all of CO-OP’s product initiatives,” said Atcheson.
Putting Members First
While each panel and presentation focused on a different area, such as cybersecurity, data strategy, and regulatory developments, they all brought home the theme of member-centricity. Credit unions revealed that delivering exceptional service to their members was a top priority in their digital transformation.
Attendees of the Des Moines, Iowa Roadshow had the opportunity to see firsthand how CO-OP is tackling this challenge with a tour of CO-OP’s new state-of-the-art Contact Center facility in Urbandale.
Advisory and Networking Opportunities
In addition to informative presentations and panel discussions, Roadshow attendees enjoy 1:1 advisory sessions with CO-OP’s executive team and opportunities to network with peers.
Having that face time is critical, according to Shawn Ashley, Vice President of Information Technology for FinancialEdge Credit Union, “Digital transformation is not just technology; it is people and processes changing as well. Using the data that we already have to make decisions about services and products moving forward helps us, as a credit union, plan for where we need to make adjustments and align our digital strategies with our partners. Roadshows present a great opportunity to take front line staff to hear why we have partnered with CO-OP – and experience a mini ‘THINK’ environment.”
The Roadshow season is still underway with upcoming events in Irvine, CA (Sept. 26th), Philadelphia (Oct. 2nd) and Boston (Oct. 4th). Register now and discover new opportunities, strategies and partners to help advance your credit union’s digital transformation.
The original article CO-OP Roadshows Chart the Progress of Credit Union Digital Transformation can be found on Insight Vault.