9 Growth Strategies for Banks and Credit Unions in 2027
Banks and credit unions can compete with digital-first organizations by finishing nine specific tasks, from a clear North Star to opening an account in 3 to 5 minutes. Our research shows that 93% of institutions have not fully reached their digital transformation goals, so the gap is in execution.
Most banks and credit unions know what to do, and few of them do it. Our research shows that 93% of institutions have not fully reached their digital transformation goals, and most have been working on them for more than two years. While 57% name digital experience as their top priority, only 28% make data and analytics a funding priority. Plans stall between departments and silos, which is why this list is built as tasks to start.
The first five strategies cover the customer journey. They begin with a North Star for differentiation, then move to account opening that takes 3 to 5 minutes, onboarding with a progress bar, ongoing flow-of-funds analysis and partnerships that help smaller institutions reach digital maturity faster. Each comes with the first steps to take, such as timing your own account opening process or listing what your current partners offer beyond what you use today, and the reason it earns a place on the list.
The remaining four strategies build on that foundation: democratizing data for branch managers, business bankers and contact center teams, an easy-credit button for qualified customers, checking how AI assistants and search engines describe the institution, and cybersecurity and trust that remove friction for legitimate customers. None requires a massive budget or years of work to begin making progress. The episode closes by asking leaders to choose the three that would make the biggest difference to their customers.
About: Banking Transformed is hosted by Jim Marous, top five banking industry influencer and Co-Publisher of The Financial Brand. Banking Insights episodes deliver the most important strategic ideas in under ten minutes, for the executive who wants the takeaway without the deep dive. Subscribe to the Digital Banking Report at digitalbankingreport.com.
Get the 2026 Retail Banking Trends and Priorities report from the Digital Banking Report.
