Research and Development

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At MDC, we leverage the strength and resources of over 70 like-minded leaders in the credit union industry and collaborate to push forward to the future together. That work is guided by our research and development strategy, which is driven by a combination of input from our owners, the expertise of thought leaders from both within and outside the industry, and research MDC itself either commissions or performs. Our recently updated strategy places our focus on eight areas where MDC is strongly positioned to have a significant impact on our owners and their members and where credit unions should either be closing a gap with our big bank competitors or continuing to push out in the lead. In all the work we do, our consistent goal is to provide deliverables that are relevant, practical, and actionable so that our owners can bring them to bear at their organizations. Our project strategy focuses on eight priorities:

  • Technology
  • Fintechs and Credit Unions
  • Data and Personalization
  • Member Experience
  • Automation
  • Innovation Culture and Training
  • Financial Health
  • Research and Thought Leadership

Technology

As the evolution of technology continues to increase in speed, so must the credit union industry’s ability to assess, react to, and embrace new developments. Both new and ongoing technological revolutions like the Internet of Things, 5G wireless communications, and the increasingly digitized way in which all aspects of life is experienced will be fundamental to any financial institution’s delivery... Read more

August 17th, 2020

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Fintechs and Credit Unions

Banks are working with, investing in, and buying fintech companies that offer products, services, and experiences to the banks’ customers. Credit unions are well behind banks in this space, partially due to a lack of market awareness of credit unions, but also due to regulatory limitations imposed on credit unions to invest in fintech companies. We are working to rectify... Read more

August 17th, 2020

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Data and Personalization

As Americans conduct more and more of their daily lives in digital environments, from streaming movies at home instead of going to a theatre, to ordering groceries online, to nightly stories with grandpa via a video chat app, the providers of those services are leading the way in how to provide the best possible experience to consumers. Netflix and Amazon... Read more

August 17th, 2020

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Member Experience

As financial services become more and more commoditized, it’s the customer experience that is the driving differentiator for consumers. It’s no longer good enough to offer the lowest lending rates or the best checking terms. Rather, it’s the financial firms that make things easy, seamless, and quick that are the winners in today’s industry. We have prior and ongoing work... Read more

August 17th, 2020

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Automation

Automation is a game changer for credit unions, allowing them to do more for their members without the need for additional staff or costs. We have led the way in the credit union industry’s increasing interest in automation with our focus on robotic process automation, chatbots that automate member self-service, and more. In fact, our work in the automation space... Read more

August 17th, 2020

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Innovation Culture and Training

We have long championed the notion that the organizations with strong cultures of innovation are the most adaptable and successful in our industry’s rapidly changing environment. To help our owners continue to lead the industry as the most progressive and innovative credit unions, we offer multiple programs focusing on training not just individual staff on innovation techniques, but also training... Read more

August 17th, 2020

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Financial Health

Credit unions by definition exist to promote the financial health of their members, but beyond our ability to offer lower rates and our ethos to serve members instead of profiting from customers, credit unions have often struggled to deliver meaningful ways to improve the financial health of their members while positively impacting the bottom line. MDC places a strong focus... Read more

August 17th, 2020

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Research and Thought Leadership

Even the most progressive credit unions can’t think of everything, and even the largest experience those “all hands” moments like core conversions that take their eyes away from the horizon to focus hard on the immediate issue. MDC helps our owners by constantly thinking of where credit unions need to be in five to ten years in order to remain... Read more

August 17th, 2020

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