Pathways to Digital Transformation

Tuesday, June 20, 2023
12:00 - 1:30 p.m. Central Time 
Presenter: Mario Moussa, President, Moussa Consulting; Matthew J. Hill, President, Matthew J Hill Consulting 

Credit unions must embrace digital transformation to meet expectations for easy and convenient payment, credit, and money transfer options. Non-bank fintech companies like Square, Stripe, and SoFi have further accelerated this trend. 

According to Cornerstone Advisors, 96% of credit unions had launched a digital transformation strategy by the end of 2022. But the majority of those launches are recent efforts. In fact, only 3% of credit unions report that they have completed their digital transformation journeys.  

Engaging in digital transformation has many positive upsides, including:

• Helping credit unions become more sustainable
• Keeping organizations competitive
• Enhancing member services and lighten employee load
   

With industry-defining trends in mind, digital transformation is a top priority for credit union leaders. This course builds on our September 2022 CU Management article, Pathways to Digital Transformation, to support CU leaders on their digital transformation journeys.

Course participants will learn to: 

• Define digital transformation: It’s about using digital technology to improve how businesses serve customers, enable staff, and strengthen business models. 
• Use culture to drive digital change: Use the four forces framework to drive digital transformation across the organization. 
• Take an incremental approach: Start small by digitizing troublesome operational issues. 
• Create a learning organization: Support data gathering, experimentation, and group reflection to enact digital change. 
• Craft a digital vision: Explore future industry trends to develop robust digital visions and roadmaps.  
   

This 90-minute session will be highly interactive. Through prework assignments, breakout groups, and group discussions, participants will discuss: their digital visions, using tools to enhance collaboration, creating habits that support digital change, and supporting innovation across the organization.