I’ve decided to have a closer look at the world of credit union ‘apps’ or Fintech, as some call it. Many of you are aware that a tsunami of helpful apps has arrived at the door of credit unions in the last few years and in many cases transformed how members interact or communicate with their credit union. Some credit unions have willingly adopted the apps available, and some are still considering. Perhaps there is still a little suspicion of earlier tech failures in the Irish & British credit union movements over the years that holds some credit unions back? I don’t know….but I’ve put together a few stories of some of the ‘apps’ in use, and some in development.
In this edition I will be talking to Matt Bland, CEO of the Manchester based Co-op Credit Union, about its first year of taking on the member ‘app’ NIVO.
Launched in late 2018 as an early-stage spin-out from Barclays Bank, Nivo is already working with large banks, lending brokers, lenders, professional services companies and credit unions who use the platform to significantly improve member sign-ups and service efficiency.
NHS Credit Union state that the NIVO app doubled their member ‘onboarding’ and enabled loan applications to soar to 87% of loans being processed within one day. An impressive list of users have taken up the app.
Listen to the founder, and CEO of NIVO, Michael Common .
Talking Credit Unions with Chris Smith is a regular podcast dedicated to informing credit union practitioners, leaders and opinion formers on variety of industry topics. To contact Chris Smith, smithowls@gmail.com