Digital Disruption hits Banks and Credit Unions

In the digital age, neo and challenger fintech banks are disrupting the financial services market like never before. This multifront attack on banks and credit unions alike threatens everything down to basics like acquiring and retaining customers. And with customers getting technologically savvier by the minute, a strong inclination toward digital-first experiences naturally follows.

Additionally, banks and credit unions are weighed down by an increasing need to support more affordable credit to near-prime borrowers. The fix involves scaling community lenders into self-sustainable entities and allowing borrowers to find a community lender with the same ease they can find other lenders.

All of the above urgently warrants leveraging digital assets with a strong focus on customer centricity. Credit unions need a solution that will allow them to offer cutting-edge digital products, thereby remaining relevant to their customers in the digital age. In essence, credit unions need to be ready to face challenges in the digital financial world. This means a critical need to overhaul their business models as well as IT infrastructure.

Persistent Digital Bank and Credit Union SolutionsTM

Introducing a new way for Banks and Credit Unions to quickly deliver new digital capabilities. The Persistent Digital Bank and Credit Union Solutions combine both services and a technology platform that accelerates your digital transformation. Utilizing a set of technology accelerators, pre-stitched integrations, and a micro-service based on the AWS API gateway, it allows credit unions to extend their existing IT investments and quickly deploy new digital capabilities. Offered with flexible business models to meet your needs, and advisory services to help you define your strategy, it allows credit unions to launch new digital capabilities within months with low up-front costs.


Credit union can launch digital products quickly

Faster Go-To-Market

Allows credit unions to quickly launch their first digital product, typically in one to two quarters. Subsequent products and services can be launched within similar time frames.

digital banking product has suitable architecture and components

End-to-End Digital Journeys

The solution provides suitable architecture and components that allow customer journeys and back office processes to be intelligently automated and responsive in real time. This makes the credit union truly digital and competitive in a world disrupted by fintechs and large banks.

Persistent & Gojoko makes an Opex model of Digital product

Largely Opex Model

Persistent & Gojoko take end-to-end responsibility for customer acquisition, underwriting, integrations, licensing and hosting, thereby making the solution a largely Opex proposition.

Pluggable Components & Service Providers

Pluggable Components & Service Providers

While the solution comes with a standard set of components and service providers, credit unions have the choice to replace any of these. Moreover, the existing IT setup can be leveraged as-is, while extending the overall solution to achieve the desired business outcome.

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