More than 110 million people rely on credit unions for their financial services. As consumer expectations shift, it becomes more important to provide credit union members with simple, comprehensive experiences.
CUNA Mutual Group, aiming to create a forward-thinking experience for its partner organizations, turned to 1871, a globally ranked innovation hub, and EX3 Labs for an interactive work session. Their personalized tech playground was designed to help CUNA's team build an understanding of the emerging technologies shaping financial services and get them ideating about experiences they could develop. The three organizations used the half-day session to address two key areas:
The session began with a tech trends talk by 1871 CEO, Betsy Ziegler, that challenged "conventional wisdom" and encouraged the group to radically shake up the ways they thought about innovation, satisfying the accelerating demands of consumers, and the rapid pace of change.
The group then explored 8 technology stations, giving them a glimpse into the next set of technologies shaping the ways consumers engage with financial services. Their customized tech playground was designed to help CUNA's team build an understanding of the technologies, such as artificial intelligence, IoT, augmented reality, digital assistants, and projection technology. They were also asked to develop business cases that applied these technologies. At the end of the session, participants had come up with over 50 applications.
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