MSU FEDERAL CREDIT UNION
80
“ 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 ”
— Ben Maxim , Assistant Vice President of Digital Strategy and Innovation at MSUFCU
The idea is that the process is “ without fear ” and to ensure that , unlike previously , potential partners do not feel pressure to present products that are “ fully polished ”.
“ What we ’ re doing with The Lab is finding fintechs that offer niche services that make sense for a small portion of our membership . We try them out in a small pilot for a couple of months to experiment with and test it from our business perspective , looking at the ROI of what that relationship could be ,” adds Maxim .
It also acts as a training ground for employees . “ We have some of our experts from IT , including our development team . We have our UX team that helps us build out the prototypes , but then we pull in people identified as forward-thinking in their areas , those who are also looking for
FEBRUARY 2021