Strategic Ways to Outsource Content Management

For credit unions, the reality is that they find themselves competing in the same space occupied by banks, brokerage firms, and a host of other financial service providers to become their members or household's one-stop financial services solution provider. In addition, most financial institutions are experiencing some form of spread compression in their net interest margin.

 

By Trust for Credit Unions Mutual Funds

 
For credit unions, the reality is that they find themselves competing in the same space occupied by banks, brokerage firms, and a host of other financial service providers to become their members or household's one-stop financial services solution provider. In addition, most financial institutions are experiencing some form of spread compression in their net interest margin. Whether operating as bank or credit union, the economic reality is the same: financial solution providers are being forced to operate more efficiently. Using the virtual channel as a tool or transaction driver is one way financial institutions are becoming more efficient. By making the website both an educational resource and a platform for transactions, it's possible to differentiate the institution solutions from the competition. The offshoot at the very least is a better service to the member.

The Vice President of E-business Development at Fidelity Investments recently remarked that, " it would be naive for us to think one firm can corner the market on financial information. Partnering with the Net's best providers will only service to strengthen our brand integrity." An interesting lesson here is that even a firm as large as Fidelity, with its name brand and reputation is thinking how the virtual channel can strengthen their brand and drive transactions. Stated another way, they are using the web to grow their business and are aware of the fact that partnering makes good business sense.

Strategic partnerships are integral to your credit unions online success. Examples of key partnerships for credit unions would be: home banking providers, live stock quotes, online trading applications and account aggregation. Increasingly, credit unions are outsourcing content management. Members go to your website for information, and if you can outsource the content portion of this site to a professional you can rest assured you will be giving your members the best content available, all the while ensuring your branding and quality standards. Financenter.com the leading provider of online calculators has begun to offer professional content to credit unions who wish to help educate their members on important financial decisions. For more information call Jon Jeffreys at 800-237-5678.

 

This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.

If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at ads@creditunions.com or 1-800-446-7453.

 

March 29, 2004


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