MSU FEDERAL CREDIT UNION
MSU Federal Credit Union has launched The Lab at MSUFCU , a testing program for rapid development of technology solutions . But it ’ s so much more
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F or Michigan State University Federal Credit Union ( MSUFCU ), The Lab at MSUFCU is a testing ground for future technologies and a representation of how traditional finance houses are keeping in step with fintechs .
MSUFCU ’ s venture into an incubator format for proving new technologies goes beyond stuffing a bunch of engineers into a room and hoping they ’ ll create the next unicorn . In fact , it supports startups who can offer technology partnerships and brings the most successful ones to pilot stage , while training its own team to work with the new technology . MSUFCU gets to test the product , the partnership and its own team on a journey that goes from inception to implementation . But The Lab was not born overnight .
“ The Lab is a combination of years of organic innovation formalized into a place to experiment with different fintechs and innovative companies and talk about those experiments , and get our members involved early on ,” says Ben Maxim , assistant vice president of digital strategy and innovation at MSUFCU .
FEBRUARY 2021