Clutch and TruStage recently convened leading credit union voices to explore how real-time payments, open banking, and AI are rewriting the rules of financial services—and what credit unions must do now to compete in a future where “applying” may be obsolete.
The panel featured:
Nicky Hinrichsen, CEO & Co-Founder, Clutch
Ron Shevlin, Chief Research Officer, Cornerstone Advisors
Darlene Johnson, Chief Strategy Officer, Suncoast Credit Union
Eric Sager, COO, Plaid
Together, they unpacked why credit unions must act today to remain competitive in a world where applying for a loan or opening an account could be as simple as asking a voice assistant.
From Apps to AI Agents
For decades, financial services have revolved around applications and forms. Even with today’s sleek digital interfaces, members still type, click, and upload. But consumer behavior is shifting faster than technology can keep up.
As Ron Shevlin explained:
“Asking how do we implement AI? is like asking what can I use a PC for? The answer is: everything.”
This shift isn’t just about making today’s processes smoother. It’s about preparing for a future where AI handles the tasks members don’t want to—and the jobs you aren’t doing today. Not better than humans, but faster, at scale, and with less friction.
The Convergence That Changes Everything
Real-time payments, open banking, and AI aren’t developing in isolation—they’re converging at a rapid pace. Together, they enable a future where shopping for financial products may require no clicks, no forms, not even a screen.
Imagine this: a member simply asks Siri, “Knowing my goals, find me the best bundle of products.”
Behind the scenes, AI compares offers across providers, opens accounts, moves money instantly, and presents results—without a single keystroke.
This isn’t science fiction. The building blocks—instant payments, API-enabled data sharing, and conversational AI—already exist. What most credit unions lack is the strategy and integration to participate in that future.
At Clutch, we believe credit unions can—and must—play a leading role in this ecosystem. Our platform ensures credit unions aren’t just compatible with these technologies, but positioned to thrive because of them.
Real-Time Payments: Sender, Not Just Receiver
Most credit unions are experimenting with FedNow and RTP in receive-only mode. But the real revenue opportunity lies in sending.
Instant disbursements
Loan funding
Business treasury services
Those who lean in can become the primary financial hub for both members and local businesses. Those who wait risk being reduced to utilities.
Open Banking: Risk and Reward
Open banking enables members to share their financial data seamlessly through APIs. For credit unions, this creates opportunities to strengthen relationships through transparency and advice.
But as Plaid COO Eric Sager warned, the window is narrowing. Large incumbents like JPMorgan Chase are already shaping how open banking evolves in the U.S. Credit unions must engage now—or risk being excluded from the ecosystems members will soon rely on.
AI: Human + Machine, Not Human vs. Machine
AI isn’t about replacing people—it’s about freeing them.
Darlene Johnson reminded us that credit unions are built on relationships, and AI should never replace that “magic sauce.” Instead, it should take on repetitive, low-value tasks so staff can focus on the complex, human-driven work that builds loyalty.
At Clutch, we’re applying this philosophy through tools such as:
Fastlane: instantly surfaces ready-to-fund loans, reducing manual reviews
HAL: engages members post-application with AI-driven follow-ups and document intelligence
Agentic Voice AI: performs collection outreach
Together, these tools prove that AI can scale efficiency without sacrificing humanity.
The Strategic Imperative for Credit Unions
As Nicky Hinrichsen emphasized, the top priorities for credit unions today are loan growth, deposit growth, and member experience. The technologies we’ve discussed—AI, real-time payments, and open banking—are not optional upgrades. They are prerequisites for competing in a future where Siri shops for financial products.
The question isn’t whether these shifts are coming. It’s whether your credit union will be ready.
Final Takeaway
The convergence of AI, real-time payments, and open banking will redefine financial services. Members will expect instant, intelligent, and invisible experiences—and they’ll reward the institutions that deliver them.
At Clutch, we’re building the platform to ensure credit unions are among those institutions. From origination to funding, from consumer to business, we put credit unions at the center of this AI-powered future.
Want to see how Clutch is preparing credit unions for what’s next? Request a demo below.