Staying ahead of the technology curve is important to differentiate yourself from the rest of the pack. Four percent of credit unions that responded to the 2013 Technology Priorities Survey identified themselves as “innovators.” Another 23% classified their credit union as an “early adopter.” For the “innovators” and “early adopters,” mobile banking and mobile payments were the top technology initiatives they deemed critical to their objectives for the year ahead.
Half of the responding credit unions felt that they fell under the category of “fast follower.” Although they may not be the ones developing the latest technology, they are quick to implement the most convenient and new features for their members. Only 11% of credit unions considered themselves a “late adopter.”
CREDIT UNION TECHNOLOGY ADAPTATION CLASSIFICATIONS
DATA AS OF SEPTEMBER 30, 2012
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50% of Credit Unions Are "Fast Followers"
Source: Callahan & Associates' 3Q2012 Technology@CU