We need to figure out how we put fintech in a box and be able to stand up a quick fintech solution so that credit unions can use that platform to innovate around data, to get quick to market to “try and fail” on things, without trying to do all this on premise. How do we build a cloud solution that we can turn on and mange for credit unions? That’s the barrier – because the credit union can do the ideation, can get people, can do the journey mapping, but then they need someone to do something with it. There are tons of resources and capabilities in cloud and business partners that if you just had them aligned, credit unions of all sizes could begin to innovate around data and digital, but the issue is how do we lower the complexity?
What I’m hopeful for is that there’s a lot of big credit unions doing good work that we can figure out a model where the smaller-end credit unions can contribute their data so they can get the value and benefit out of it, and then the aggregation actually creates value for the pool of people participating. The more data we have, the more accurate we can be; and as a participant putting your data in, you get access to all of the modeling capabilities and the things you want to look at. I think it’ll be a CUSO model that’s going to do that.