Innovation

Innovation goes beyond having the latest technology, it's the degree to which an institution delivers a member experience that is creative, pioneering, and leading the market. Also, creating differentiation based on having unique solutions that benefit society and the environment.

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Why it matters

Innovation matters to credit unions because it has a demonstrated relationship to member loyalty, which translates into better financial performance resulting from higher member retention and share of wallet. Credit union members are generally more loyal than bank customers, but more innovative credit unions have higher member loyalty than credit unions that are perceived to be less innovative.

Creating an Innovation Strategy that Drives Differentiation and Member Loyalty: Results from the 2nd Annual Credit Union Innovation Success Study

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Research in this topic

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Report #633 | Dec 10, 2024
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The lab* at Filene partnered with Senso to test their AI-driven platform to understand the desirability, feasibility, and viability for credit unions to use GenAI to improve member interactions.
Report #622 | Dec 5, 2024
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Competition in the payments space continues to heat up. That's why the lab* at Filene partnered with Flow to test their platform on its ability to enable credit unions to communicate with the members when they are most engaged—at the point of sale with their card.
Report #621 | Nov 26, 2024 | Members
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- Lamont Black
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*25-minute read—Generative AI could transform the way that credit unions provide financial services. In this brief you will learn how credit union leaders are approaching Gen AI, from thinking about their organizational structure and culture to prioritizing use cases and implementation strategies.
Report #632 | Nov 15, 2024
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One of the seven solutions selected to test in 2024 was to explore the potential opportunities for credit unions to leverage AI technology to drive deeper engagement with indirect members. To tackle this issue that has been a chronic pain point for credit unions for decades, the lab* at Filene partnered with Vertice AI to test if their platform can offer more ways to deepen relationships with indirect members.

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Research Event | May 7, 2025
Artificial Intelligence Innovation

EDGE 2025
Las Vegas, NV

Registration is now open for Trellance's EDGE event, in partnership with CUDX and Filene. This event aims to inspire and ignite innovative thinking by showcasing the latest advancements, cutting-edge trends and emerging technologies, thus enabling attendees to envision and create the future.
Blog | Dec 2, 2024
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In today's Thinking Forward, we're taking time to pause and reflect on the key highlights from big.bright.minds. 2024— what we learned from our research and innovation, what we heard from our credit union friends and colleagues, and what we are planning to do next.
Webinar | Dec 18, 2024
Strategy and Planning Innovation

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It’s the end of the year and you know what that means. We're sharing our most important insights and recapping the biggest take-aways of the year in this 2024 wrap-up session!
Blog | Nov 21, 2024
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Fiscal Year 2024 Annual Impact Report
FY24 was a year of unprecedented challenges and transformative change for financial services. In this edition, we explore how credit unions across the country rose to the occasion, embracing resilience, innovation and collaboration. This report is filled with real-world stories from credit union leaders and the latest insights and actionable strategies focused on helping credit unions navigate the biggest challenges facing our industry while setting the stage for a stronger, brighter future.

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Innovation

Why it matters

Research in this topic

Year Two Lab Results: Senso

Year Two Lab Results: Flow

Generative AI: How Credit Unions Can Adopt Gen AI to Benefit Employees and Members

Year Two Lab Results: Vertice AI

More opportunities

EDGE 2025

Thinking Forward: Top Takeaways from big.bright.minds. 2024

The Year Behind and the Year Ahead

Fiscal Year 2024 Annual Impact Report

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