In this episode of TechSolutions4CUs, host John San Filippo is joined by Angi Milano and Holly Glowaty, the co-hosts of the GTM Loop podcast. Together, they dive into the critical elements of go-to-market (GTM) strategies, exploring how fintechs can align with the credit union mission and how credit unions can position themselves as partners of choice.

Angi and Holly explain that the GTM Loop podcast was created to help fintechs navigate the tactical steps of strategy development, specifically teaching them how to speak the language of the credit union industry. The group discusses why GTM has evolved from a general business term into a vital discipline for launching products in new verticals.

Key Topics Discussed:

• Common Fintech Mistakes: The guests break down where fintechs often go wrong, such as taking a "scattershot" approach rather than finding the right fit, and relying too heavily on a single person’s connections (the Rolodex strategy) rather than building a sustainable process. Angi notes a critical error: using banking terms like "customer" instead of "member" and leading with ROI rather than mission alignment.
• The Power of Small Credit Unions: While many vendors chase the largest institutions, Angi and Holly argue that small credit unions are often more agile and eager to adopt fintech as a growth lever. They advise vendors to evaluate potential partners based on "active members" rather than just asset size.
• Credit Unions vs. Banks: The discussion clarifies the fundamental difference between these institutions. Banks often prioritize bottom-line returns, while credit unions are mission-driven cooperatives where a single member's experience can mobilize the entire team.
• AI and Data Hygiene: The trio tackles the buzz around AI. Holly stresses that institutions cannot successfully adopt AI without first cleaning up their data. They advise against using "AI for AI's sake," recommending instead that credit unions identify specific pain points and involve the staff feeling that pain in the solution design.
• Future Predictions: The episode wraps up with crystal ball predictions. Angi foresees stablecoins becoming the next dominant topic at conferences, while Holly predicts that upcoming changes to Visa and Mastercard interchange rules will fundamentally shift how institutions and retailers approach loyalty programs.

Join us for a conversation that bridges the gap between fintech innovators and the credit union mission.

In this episode of TechSolutions4CUs, host John San Filippo welcomes Kristen Castell, Managing Director of CAFÉ (Center for Accelerating Financial Equity), a nonprofit organization.

The conversation dives into the origin story of CAFÉ, which was launched two and a half years ago out of a new fintech innovation hub in Newark, Delaware. It began as a public-private partnership involving Discover Financial, the University of Delaware, and other organizations dedicated to building new fintech innovation that helps people's lives. CAFÉ's primary mission is to advance financial wellness for low to moderate-income people across the US.

Kristen explains how CAFÉ serves the credit union community:

• Connecting Fintechs and Credit Unions: CAFÉ runs competitive Accelerator programs to help early-stage fintech companies, which have been vetted for strong product-market fit, existing customers, and mission-driven culture, accelerate their growth. CAFÉ then introduces these solutions to credit unions looking for innovative ways to help their members.
• Vetting Process: The fintechs undergo a rigorous, competitive process to enter CAFÉ's programs, which includes looking at the business, the product, and requiring them to already have credit union or other financial institution customers. A top priority for CAFÉ is the company's culture, focusing on collaborative, mission-driven people.
• Solutions for Members: The fintechs supported by CAFÉ offer diverse products, including more efficient ways to provide loans to small businesses and individuals, digital banking products, microloan services (like Salus), SBA 7A loans (like Parlay), and tools to help members search for government benefits (like Starlight).

The discussion also covers:

• Technology Trends: The role of technology in helping credit unions digitize their offerings, improve backend processes, and gain better member insights, specifically mentioning AI. Kristen notes that almost every fintech they work with incorporates AI in some way.
• Challenges for Smaller Credit Unions: They discuss the potential for smaller credit unions to be overwhelmed by the number of tech relationships, suggesting collaboration through groups like CUSOs (Credit Union Service Organizations) or partnering with fintechs that come as a package to ease the onboarding process.
• Future Outlook: Kristen shares her prediction for the future, expressing a strong belief in blockchain technology to facilitate instant global payments, improve security through tokenization, and enhance identity management for financial accounts. She also stresses the shift from providing "products" to providing a full experience in members' financial lives.
• Getting Involved: Credit unions can engage with CAFÉ by offering industry expertise as a speaker, becoming a sponsor, or simply by being interested in learning about and potentially partnering with the vetted fintech innovations. CAFÉ also hosts the annual Fintechs and Fairways Conference in Delaware.

To learn more about CAFÉ, you can visit FTCafe.org.

Tired of casting a wide net and coming up empty? The secret to revitalizing your credit union might be to start thinking small.

In this episode, host John San Filippo sits down with Michael Duncan, CEO and founder of digital banking provider Bankjoy, to discuss the strategy of vertical banking (also known as niche banking or sub-branding). This approach allows community financial institutions to leverage their existing charter to create a discrete, digital brand that caters to a very specific audience.

You'll learn:

• The Power of Niche Focus: How ignoring 99% of the market can lead to massive growth by focusing on a specific, unmet need.
• Real-World Success Story: The case of Panacea Financial, a digital-only bank serving doctors and healthcare professionals, which achieved over half a billion dollars in assets in just a few years by solving the unique financial problems faced by young physicians.
• Potential Niches for CUs: Other segments credit unions can target, such as military service, teachers, and even specific demographics like women or younger generations (Gen Z).
• Overcoming Hurdles: Mike addresses the common concerns of staffing, marketing a digital-only brand, and the scary part—the technology.
• Technology Simplification: Discover how modern digital banking providers like Bankjoy make it possible for you to launch a new vertical brand in as little as six weeks to three months without having to replace your core system.

Mike's key takeaway for hesitant credit union CEOs? "Don't delay. It's not as big as you think." Start small, experiment, and see if this targeted, personalized approach is the solution to your growth challenges.

You're also invited to download Bankjoys white paper on the topic: How Vertical Banking DrivesGrowth for CommunityFinancial Institutions -Reach New Markets with Targeted, Niche Banking Experiences.