How Credit Unions Innovate

Using Crowdsourcing to Drive Innovation

Smart credit unions use Ezassi to become disruptors not disrupted.

Innovation is a requirement in today’s business world and credit unions are no exception. By creating and implementing a clear plan, credit unions can create and nurture a culture of innovation that works to not only provide the best possible member experience, but also get the most out of each employee.

Your first challenge free!

Contact us today to start your crowdsourced employee innovation challenge. Empower your employees to share, ideate, collaborate and innovate freely in as little as two (2) weeks. Schedule your kickoff consultation to get started and your first challenge is absolutely free.

“You can invent alone, but you can’t innovate alone.”

— Gijs van Wulfen

The Three Pillars of Credit Union Innovation

According to Filene Research Institute, credit union innovation isn’t just about deploying shiny new tech—it happens across a range of focus areas that truly move the needle. So, where do successful credit unions prioritize their efforts?

Rivermark Community Credit Union — A Leader in Crowdsourcing Innovation

Rivermark Community Credit Union is just one example of a credit union adopting Ezassi crowdsourcing and innovation software technology to engage their employees and create a culture of innovation. The Oregon based organization is using the technology to not only solve existing problems but help identify white space within the financial industry where there is room for disruptive technology. By introducing a user-friendly platform that provides a single access point for the free exchange of ideas and gamifying challenges, the credit union is poised to improve the member experience, create more efficient processes and operations and become a leader in their industry. You can read more about their partnership with Ezassi here.

7 Ways Credit Unions Innovate with Innovation Software [INFOGRAPHIC]

The beauty of innovation software is that it provides the framework for engaging innovation participants, vetting ideas, streamlining communication and encouraging collaboration, but there really are no limits on how it can be used. The software is designed to be flexible so that each user and credit union can design and implement their own path towards innovation. The infographic outlines seven popular ways that credit unions are using innovation software to pursue innovation.

Click below to view and download the infographic.

Small Changes Offer a Big Impact

Not all innovative ideas have to completely transform entire industries.

Capture, Evaluate and Implement

“Innovation” can sound like a lofty goal, but not all innovative ideas have to completely transform entire industries. Incremental changes in processes can yield significant benefits. Simply working more efficiently and effectively can reduce waste and cut expenses. Over time, these changes can produce significant savings that impact a credit union’s bottom line. The key is to be able to capture, evaluate and implement ideas from employees and others involved in the crowdsourcing process. Ezassi innovation software allows for all ideas, both big and small, to be captured and developed.

Thriving in a Competitive Environment

As credit unions continue to try and improve the member experience and find better ways to promote products, reduce costs and improve processes, innovation software will play an increasingly important role. This powerful tool can capture ideas, automate the workflow and idea development process, offer insightful analytics and much more. Ultimately, these capabilities will translate into better member recruitment and retention and more efficient operations. Investing in Ezassi innovation software provides an invaluable ROI that will continue to help credit unions thrive in a competitive environment.

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