HOW DO DIGITAL TRANSFORMATIONS AFFECT CREDIT UNIONS? THE CASE OF A CREDIT UNION IN SOUTHERN BRAZIL

Abstract

The national financial system is undergoing transformations with the entry of digital institutions, which generate changes in consumption habits. The main objective is to analyze the digital transformations of financial services, associated with fintech strategies, and the effects on a credit union in southern Brazil. Using a qualitative, descriptive and explanatory approach, with the single case study method, semi-structured interviews were carried out with seven directors of the Credit Union under study, with documentary research, whose transcripts and documents were treated with the content analysis technique. The results demonstrate that technology is a factor that influences the construction of financial products. The main pillar of the Credit Union under study is the close and trusting relationship with members, who have the options of physical and digital service, with predominance is face-to-face. But it still requires investments to consolidate the digital account, especially in media to reach the public that wants the comforts of the internet. The biggest challenge for credit unions is to maintain close relationships while making technology available with digital resources, which, in the post-pandemic, has become a requirement to remain competitive. The study allowed the elaboration of a SWOT matrix to oppose the internal and external variables, as a subsidy to the definition of strategies. Finally, it helped the Credit Union leaders to reflect deeply on the condition in the current scenario and design strategies to deal with present and future challenges.