Singapore World Credit Union Conference 2018, 15-18th July.
The CU Soar team have been invited to attend the World Credit Union Conference in Singapore and to demo a custom version of the CU Soar app. We are thrilled to receive the opportunity to meet and network with new credit unions and continue to engage with those we’ve been communicating with recently.
Attendees are coming from around the globe to network with key players in the credit union industry, attend educational sessions and take advantage of the opportunity to be part of an excellent team building environment, facilitating growth & decision making in the sector. One of the keynote speakers at the event is Chris Skinner; an independent commentator on the financial markets and fin-tech through his blog. He is also a regular commentator on BBC news, Sky news, CNBC & Bloomberg. A key area of focus for him during the conference in Singapore, is the future of the financial services and the effect this is having on the credit union sector.
WOCCU have published ‘key insights’ from Chris Skinner’s keynote speech on their website:
- “Digital is not banking-as-usual cheaper and faster with technology, but a complete rethinking of banking.
- Rethinking banking starts with customer-centricity and building a digital business model from there.
- A digital business model comprises front-office apps connecting to back-office analytics through APIs in a marketplace of many players.
- Banks will be forced to open their operations to this marketplace of players through APIs, and it will also force a conversion of core systems because of this and because of AI for back-office analytics and Distributed Ledger Technology (DLT) for global operations.
- There are further fundamental changes developing in Asia and Africa that are not just rethinking banking but reinventing everything – these developments shine the light on the future digital financial operations and Ant Financial, a Chinese technology firm the offers digital finance, shows the way.
- Bottom-line: attendees need to rethink their businesses to be fit for the future digital age.”
We are particularly eager to hear Chris Skinner elaborate on these points during his presentation due to their level of pertinency with the CU Soar Mobile App. One of the insights highlights how digitising the business model must begin with customer-centricity. This is one of our core values at CU Soar and applies not only to our business model – but also to the CU Soar app and what it can do for your credit union.
The CU Soar app:
- Is easy to use for you AND your members
- Has an engaging yet simple interface that is branded entirely to your credit union’s colours, logo, artwork etc.
- Enables you to send push notifications and maintain contact with members 24/7.
- From applying for loans to managing repayments and helping members budget, along with many other useful features, the app is easy & simple for users of all ages to use.
- Has a simple and clean looking back-office CMS that can be accessed from any computer or laptop as it is cloud-based. This powerful tool can integrate with any core system via APIs or can stand alone with direct uploads.
- Provides credit unions with support and training, throughout and beyond the on-boarding process.
During the build of the CU Soar software, customer-centricity was factored into consideration in all areas. This ensures that the CMS is as easy and engaging for credit unions to use as the app is for your members.
Another point recognised as a key insight from Chris Skinner’s keynote speech is how “a digital business model comprises front-office apps connecting to back-office analytics through APIs in a marketplace of many players.” The CU Soar app provides members with an intuitive app for their smartphones whilst providing the credit unions with a CMS back office that generates analytic reports which provides better insights into your membership’s engagement.
Read more about what the CU Soar app does and why your credit union needs a mobile app here!
It will be interesting for us to hear how Chris Skinner’s points are discussed at the conference later this month. Stay tuned for an update following our return from Singapore! We will reflect on the main themes from the conference and distill these into a CU Soar news update.
If you’re going to be at the event please come and find us to have a go on the demo version of CU Soar!
In the meantime, please get in touch with any questions – we’d love to have a chat with you!