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MSU FEDERAL CREDIT UNION : THE IMPORTANCE OF FINTECH PARTNERSHIPS
“ This can include more convenient banking through an app , automation tools and resources specific to their client demographic , and even fraud protection services that ensure clients have a safer , more secure banking experience ,” he adds .
Meanwhile , Round feels it ’ s imperative that credit unions “ choose technologies that provide a 360-degree view of customers ”, enabling them to deliver hyperpersonalisation and feature-rich services .
In addition , a collaboration between credit unions themselves is something Round would encourage – in other words , “ pooling their resources to better support their communities ”.
In 2023 , Benjamin Maxim , Chief Digital Strategy & Innovation Officer at MSU Federal Credit Union , spoke at FinTech LIVE London about the credit union ’ s journey to creating a digital ecosystem of fintech partners .
“ The fintech industry picked up and we decided we didn ’ t really need to build everything ourselves anymore ,” he said . “ Other people were doing it better . So , we started our innovation lab , The Lab at MSUFCU , and we created a separate brand so we could try things and partner with companies to see what our members really wanted to do .
“ There ’ s a bunch of partners we ’ ve invested in to help them grow in the community banking space . They are spread across a number of different verticals but , at its core , all of them are trying to help improve the customer experience for our members at the credit union . We ’ re helping them grow to be able to serve more and more institutions and grow their products to be member-centric .”
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