Member Article

Rebranding the credit union sector to meet the challenges of tomorrow

Maximising and growing their loan portfolio in a secure digital way are one of the key priorities for credit unions and financial institutions across the United Kingdom.

This follows a year of detailed consultations with the industry by credit union Kesho – managed by Omnio Group as part of an effort to lead a new conversation geared towards a rebranded sector that is fit for the digital age.

Other things that credit unions want to see are:

1. Instant loan decisions with powerful flexible product portfolio.
2. Enabling real time data from applicants to make fully informed lending decisions.
3. Members, lenders, and savers will have access through mobiles and online via desktop in real time.
4. Smooth sharing of documents and data between members and financial institutions.
5. Empowering the sector to grow and increasing responsible lending to the communities they serve.

Adrian Cannon, CEO of OMNIO commented: “An enhanced range of financial technology products can substantially improve their offering to existing and new members and will significantly enhance the way credit unions are managed and introduce their members to a range of financial products previously beyond their reach.”

Lindsay Ward, Executive Director of Sercle commented: “Over the last 12 months, we have listened to the credit unions and our vision is about financial management and supporting fair and responsible lending to those in society who need it the most.”

This was posted in Bdaily's Members' News section by Nicholas Newman .