{"id":3669,"date":"2016-10-05T14:07:33","date_gmt":"2016-10-05T14:07:33","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/innovation-basics-for-community-banks-and-credit-unions\/"},"modified":"2018-08-14T06:00:02","modified_gmt":"2018-08-14T06:00:02","slug":"innovation-basics-for-community-banks-and-credit-unions","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/innovation-basics-for-community-banks-and-credit-unions\/","title":{"rendered":"Innovation Basics for Community Banks and Credit Unions"},"content":{"rendered":"<p>A popular affirmation among top companies has recently been marked by three important words: We must innovate!\u201d But what does it mean exactly and why innovate? What is this Innovation Thing? These questions are also commonly asked within community banks and credit unions (CU).<\/p>\n<p>Innovation in banking should not take place because everyone else is doing it; neither because it makes the banks look cool. Banks and CUs need to innovate, because otherwise the world is going to keep moving forward and leave them behind. Eventually, so will their customers and members.<\/p>\n<p>For innovation to emerge one has to overcome a number of barriers (such as insecurity that the idea will work, reaching agreement with technology vendors, other priorities or more urgent needs etc.) and identify the key innovation areas that will either provide simpler and more convenient access to more services or will provide safer and more secure access to services.<\/p>\n<p>Innovation is also about the right timing, the right resources and a carefully fitted partnership.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-3669 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Online marketplace for financial services to open in Russia'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/online-marketplace-for-financial-services-to-open-in-russia\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/08\/cb-marketplace-russia-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-10540\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-10540'>\n\t\t\t\tOnline marketplace for financial services to open in Russia\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Video: revolutionizing customer onboarding'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/video-revolutionizing-customer-onboarding\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/Deloitte-Digital-Bank-\u2013-Customer-Onboarding-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-8909\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-8909'>\n\t\t\t\tVideo: revolutionizing customer onboarding\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Amazon partners with Bank of America for lend-tech leap'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/amazon-partners-with-bank-of-america-for-lend-tech-leap\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/two-confident-business-man-shaking-hands-during-a-meeting-in-the-office-success-dealing-greeting-and-partner-concept_1423-185-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9878\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9878'>\n\t\t\t\tAmazon partners with Bank of America for lend-tech leap\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>A popular affirmation among top companies has recently been marked by three important words: We must innovate!\u201d But what does it mean exactly and why innovate? What is this Innovation Thing? These questions are also commonly asked within community banks and credit unions (CU). Innovation in banking should not take place because everyone else is &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[77,49],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/3669"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=3669"}],"version-history":[{"count":2,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/3669\/revisions"}],"predecessor-version":[{"id":7758,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/3669\/revisions\/7758"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=3669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=3669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=3669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}