Episode 85 - It is 2025: How are Banks and Credit Unions STILL Underspending on their Websites

Hit Record Podcast - FI GROW Solutions

Join Meredith Olmstead, CEO of FI GROW Solutions, and Danielle Fancher, Sales Director, as they delve into the critical topic of budget allocation for credit union and bank websites. In this episode, they address the persistent issue of underfunding digital assets and advocate for recognizing websites as essential operational tools, not just marketing expenses. They share insights on the real value of investing in a robust digital presence to enhance user experience and meet the demands of today's digital-first customers.

Key Takeaways:

1. Recognizing Websites as Operational Necessities: Websites should be considered crucial operational tools that facilitate daily banking and information dissemination, rather than mere marketing expenses. Proper funding should reflect their central role in a financial institution's operations.
2. Comparing Costs with Physical Branches: The investment in a high-functioning website is minimal compared to the cost of building and maintaining physical branches, yet the digital platform often serves a significantly larger audience.
3. Importance of Proper Investment in Digital Assets: Underfunding a website can lead to poor user experiences and potential loss of customers, especially among younger demographics who prioritize efficient online interactions. Investing adequately in digital assets is not only necessary for maintaining competitiveness but also for future scalability and integration.