Prepare Now to Better Manage Economic Conditions With Technology All Banks Need

• May 22, 2022

Despite the efficiencies and ROI promised by the latest developments in technology, FIs are often slow to implement new solutions. With the onset of the pandemic in early 2020, many FIs were forced to expedite their digital banking offerings and were hit with challenges resulting from outdated and inefficient technology. However, due to current economic conditions, the financial services industry is on the cusp of facing similar obstacles again. The inflation the US is experiencing will result in increased consumer debt, delinquencies and loan loss reserves, which will have a negative impact on a credit union?s success. Implementing techn...

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