The ‘Now Normal’: Why Credit Unions Must Hit the Reset Button on Digital Strategy
In the age of the COVID-19 pandemic, digital interaction has become a focal point of contact – and sometimes the only point of contact – between credit unions and members. In a survey from FIS, 45 percent of respondents reported a change in the way they interact with their financial institution due to the pandemic. This rapid adoption of the digital channel appears to have grown into a preference for some with 30 percent of respondents from the same survey noting their plans to continue using online and mobile banking channels in the future.
This is not unique to the credit union space. Other industries such as retail and food and beverage have experienced an increase in the utilization of digital services such as Instacart, DoorDash and others.