FinovateSpring 2017—MDC Insights

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Another Finovate Spring in San Jose, CA has come to an end—as usual we brought home pages and pages of notes/takeaways from this whirlwind event. Several credit union owners were also in attendance, and we are excited to gather their thoughts, opinions, and insights to further refine MDC’s direction in the fin-tech space. So what are some of the things we’re hearing from our owners who attended? What should credit unions be paying attention to in order to stay relevant?

Emerging Trends

Based on two full-days’ worth of demos, we were able to aggregate a list of some of the most talked about trends.

  • Mortgages made easier—it was easy to note the number of demos focused on mortgage technology at this event. From making the process easier for the member to utilizing ID verification software, mortgage-tech flooded Finovate, indicating an obvious change in the direction credit unions should be thinking about when handling this process. Think mobile-friendly, streamlined, and easy when handling mortgages. MDC has been doing our own work in this space over the past year; please see our “Mortgage Buddy” project on MDC Connect for more information.
  • Make it human and personal—also evident were the number of demos that utilized human-like AI technology to create personal and efficient user experiences. Many demos integrated Siri-like capabilities to demonstrate the power of this technology and the seemingly limitless possibilities with this trend.
  • Fraud and security still top-of-mind—although it is not always considered the sexiest topic, fraud and security protection are still a crucial component of the fin-tech space. This was echoed by several demos that were centered on protecting your credit union member from fraud and keeping sensitive information safe.

While these are only a few of our insights, we have a long list of takeways on our radar. Want to see what else we made note of? Contact Krista Jo for more information.

Owner Feedback—Leveraging Our Network

Several MDC credit unions were represented at FinovateSpring. As always, we love hearing from them about fin-tech disruptors and the future of this space in relation to credit unions. So far we have heard some great feedback about favorite demos, interesting trends, and other overall comments. Were you an owner in attendance at FinovateSpring? Share your thoughts with us! Please contact Krista Jo with your insights and we will be sure to use your input to determine our direction with fin-tech projects and owner meeting speakers. Let’s use the power of the MDC network to help our owners stay on top and turn some heads along the way!