As technology advances rapidly, so do members’ expectations for an instant, protected, and intuitive experience from start to finish. Around 40% of users say they bank with their financial institution less often because of a poor digital experience.
It’s clear that ensuring credit union technology is competitive is critical to member growth and retention. Curious about what technologies other financial intuitions are investing in? And how much are they allocating?
Financial institutions have doubled their technology investments for the second year in a row. For every $1 billion in assets, the average in 2023 is $780,000, and if this pattern continues through 2025, that number will exceed $1 million.
One of the many benefits of partnering with Elan is access to our expertise, scale, and ability to deliver products, solutions, and the latest technology to our members quickly and at no cost to our credit unions.
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