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A New Report from Aite Group |
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Boston, MA, January 28, 2008
– A new report from Aite Group, LLC examines the IT spending priorities of U.S. credit unions over the next 24 months. The report is based on the results of a survey of 101 credit unions, all
with more than US$100 million in assets. It is part of a larger Aite Group study of 201 U.S. credit unions, and the second in a series of reports on this market segment.
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According to the report, titled "The IT Priorities of U.S. Credit Unions," credit unions are often early adopters of technology and tend to
be more technologically savvy than banks of a similar size. Among the major solutions approximately one-third of the top 1,200 U.S. credit unions are likely to deploy or replace over
the next 24 months are commercial lending solutions (35%), customer analytics (33%), online cash management solutions (27%), core banking systems (27%) and CRM (27%). The study also
found that online account opening, customer analytics and online member service tools are among top priorities. Surprisingly, technologies such as remote deposit (8%) are a low priority.
"In many ways, credit unions' attitudes toward technology place them at an advantage over many banks, especially community banks, which tend to be more cautious
technology adopters," says Christine Barry, research director with Aite Group and author
of this report. "In today's environment, where technology can help to level the playing field, an aggressive technology strategy is key to survival."
This 27-page Impact Report contains 22 Figures. Clients of Aite Group's Retail and Wholesale Banking services can download the report by clicking on the icon to the
right.
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Related Aite Group Research:
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To purchase this report or
for additional information,
please contact:
Aite Group Sales
Tel: +1.617.338.6050
sales@aitegroup.com |
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