Mike Valentine has been doing business for decades, but only recently is he witnessing a Copernican shift in the partner and vendor relationship. Going beyond the linear working relationship to what Valentine calls a "true partner" is becoming not only the new normal but the best way to derive more value, create better member service, and collaboratively innovate.
"Perhaps the most astonishing thing I've witnessed recently in my career is how willing we are to partner with FinTech companies," Valentine says. "More than partnership, we're even willing to invest. If you would have approached me in the '80s and '90s to invest a million dollars in a FinTech, I'd have said, 'No thanks.'”
“But now, we're interested in solidifying the partnership, building it together, and letting other businesses get involved. In the financial industry and our credit union space, it's becoming quite prevalent. Companies are beginning to work more collaboratively.”
“This year, we began working with Breach Clarity, a company providing identity protection services that help us monitor and locate data breaches or attempts made at identity theft.”
“It's FinTech companies and other partners like these that we want to invest in and help. It's exciting to see us all coming together from a partner or vendor position, working in true partnership to attain a mutually beneficial relationship. It's exciting to see our partnerships strengthened as we work together to succeed in this environment.”
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