a hand holding a smart phone

Every new year brings new innovations in the financial services space. So, now’s the time – before competitors beat you to the punch – to reassess if members’ digital needs and preferences are met for 2023. 

In today’s ever-evolving environment, if credit unions aren’t looking for ways to improve the customer experience and add more value for members, they risk falling behind the curve and even losing members. 

To avoid that outcome, let’s look at some of the top value-adding digital solutions that credit unions can utilize this year. 

Mobile-First or Omnichannel Banking Access

Nowadays, if banking isn’t easily accessible via an app, the truth is that most new customers simply won’t view your CU as a viable option for their finances. In fact, nearly 97% of Millennial banking customers use mobile banking.

Understandably so, people like immediate access to their accounts from mobile devices. Equally, they want an efficient user experience free of glitches and delays. 

So if your credit union doesn’t already have a quality mobile app available, or one in the works, this is definitely something to prioritize. It’ll not only aid in your CU’s growth but also in the satisfaction of members. 

AI Implementation

There are still a lot of questions out there regarding AI and what it can and cannot do, particularly in the world of finance. However,  the fact of the matter is that many financial institutions are adopting AI into their processes to help them accomplish routine tasks with better efficiency. 

While full-on AI integration is a large investment and takes quite a bit of time, this doesn’t mean that credit unions can’t, or shouldn’t, begin with smaller AI projects at first. 

Some of the main ways to implement AI into banking solutions include adding a chatbot on your website, credit-scoring loan applicants and more. 

As you can see, AI can play a relevant role across various business functions for credit unions. It just depends on how it can best serve yours and bring members the most value. 

More Personalization

As competition in the financial solutions space expands, the push for increased personalization in terms of member engagement will likely continue in 2023 and beyond. 

When it comes to digital interactions, members want to feel like their needs and preferences are safeguarded and prioritized, despite not being face-to-face with staff. 

With this in mind, many credit unions this year will likely take action by adopting software programs that help them collect more customer data, extract valuable insights and more thoughtfully serve members, all in order to provide more personalized service and expertise. 

Even beyond our own financial services industry, consumers’ digital expectations are that they receive personalized product recommendations, top-quality customer service interactions and much more. It’s essential that financial institutions keep up with those expectations as well. 



Established in 1998 and headquartered in Simi Valley, CA, AVANA CUSO is one of the most seasoned credit union service organizations (CUSO) focused on commercial real estate lending. For decades, we have partnered with credit unions across the country to offer competitive and collaborative CRE loans. We also uniquely support and guide our partners through the entire lifecycle of our loans. AVANA CUSO is a proud member of the AVANA Family of Companies.

Contact us today to learn more about becoming an AVANA CUSO partner.