Democratizing Digital Transformation for Credit Unions
As Canadian credit unions face the sudden sunset of the Forge digital platform, leaders across the ecosystem grapple with how to modernize—not just replace—core banking and digital systems. At a timely fireside chat hosted by Aequilibrium, three influential leaders—Adrian Moise (CEO, Aequilibrium), Ben Goldin (CEO, Plumery), and Amber Harsin (VP of Credit Unions, Mambu)—shared bold insights on how to make innovation accessible for credit unions of all sizes.
With all three companies attending the upcoming World Credit Union Conference (WCUC) hosted by the World Credit Union Council (WOCCU) in Stockholm, the panel served as both a roadmap and a call to action for credit unions migrating to a digital future.
The Real Challenge Isn’t Technology
Moderator Mariam Ordubadi opened the session with a poll. 44% of attendees said their biggest barrier to modernization was “outdated legacy systems,” followed by limited budget, finding the right partners, and internal resistance.
When asked to unpack the main challenges facing credit unions, Adrian Moise said:
“Credit unions sometimes underestimate the speed at which member expectations evolve… the competition is not just with another credit union or even with the banks. There are the neobanks, the Apples, the Shopify of the world… that set the bar in terms of these frictionless experiences.”
He also emphasized that many credit unions suffer from “strategic inertia,” compounded by platform lock-in, user experience fragmentation, and decision fatigue:
“Teams can be spread thin. It's hard for them to juggle all these competing priorities—evaluating a platform, looking at roadmaps, dealing with members, being hands-on involved in digital strategy… They end up cutting corners, or the projects are taking too long.”
His key message?
“Transformation is not about big budgets. It's about sequencing, having a clear roadmap that ties technology to business goals, and having the right partners.”
Architecture Meets Ambition
Amber Harsin built on Adrian’s framing by identifying a “sticking point” many credit unions face:
“We get stuck at the intersection of ambition and architecture. Credit unions know they need to evolve… but our ecosystems—particularly our core systems—were not designed for the digital experiences that consumers expect right now.”
Drawing from her 30 years in the CU space, Amber noted:
“We’ve created these fragmented ecosystems, where something that should feel simple—like showing off-book credit card balances—can become a major lift… in cost, time-to-market, and complexity.”
Yet, she remained optimistic:
“Although there’s fear in transformation, there’s opportunity. Technology has modernized in such a way that we can incrementally build stronger foundations for member experiences.”
Why Composability is the Only Way Forward
Ben Goldin picked up the thread by challenging the outdated notion of one-time transformation:
“Today’s technology—especially the kind most credit unions use—was built for a one-time modernization effort. But that doesn’t work anymore.”
Ben argued that credit unions need to think like digital-first companies:
“These companies release improvements hundreds of times a day… What enables that is architecture built for continuous evolution, not just a one-time project.”
He emphasized the importance of modularity and composability:
“It’s not about boiling the ocean. Start with something that brings you on par with what’s expected in the market. Then build incrementally.”
Strategy, Experience, Technology: A Winning Formula
Adrian illustrated the power of effective partnerships through a metaphor close to his heart:
“I'm a car fan—and in particular, Formula One… What makes a winning team is not just having the fastest car or a great driver, but how you orchestrate all the pieces together.”
He explained that smaller, nimble credit unions can still differentiate—if they pick the right partners and avoid unnecessary customizations:
“If you go out-of-the-box, you're likely to have the same platform as many others. So what is your X factor? Where do you want to extend and create custom user journeys? That’s where strategy and experience come in.”
The Power of Three: AEQ + Plumery + Mambu
Asked how this trio of companies accelerates time-to-value, Adrian shared:
“With nimble organizations like Mambu and Plumery, we can take projects that used to take five years and three CIOs—and actually move fast. This isn’t just business—it’s personal. We avoid rework and delays by co-creating with the client.”
Amber elaborated on what makes this partnership model different from traditional vendors:
“One vendor sells you a platform, you spend years customizing it, and by the time you go live, your members have moved on. We’re doing something fundamentally different.”
She continued:
“With open APIs and six-week integrations, we bring agility, interoperability, and freedom of choice. AEQ helps with implementation precision. We become strategic enablers—not just service providers.”
Ben added:
“SaaS changes the economics. Legacy vendors had to focus on large institutions to be profitable. Now, smaller credit unions can access the same innovation thanks to economic scalability—without the burden of custom, one-off code.”
Forge Migration: Threat or Opportunity?
On the Forge sunset, Adrian was candid:
“When Central 1 announced Forge would be sunset, it caught many CUs by surprise. Whatever you were planning in 2025, now you’re dealing with this. But like in martial arts, you can redirect that energy to your advantage.”
He emphasized that Forge migration is not just a tech project:
“Forge includes digital banking, your public website, CMS, marketing automation, analytics… So don’t just lift-and-shift. Rethink your entire digital strategy.”
Amber echoed the urgency and optimism:
“Forge’s decommissioning is scary—but it’s also a once-in-a-decade reset moment. For the first time, we have tools that let us modernize without lifting and shifting everything.”
She suggested targeted, persona-based transformation:
“Start with youth accounts. Create a bespoke experience for Gen Z. Then expand. It’s incremental, but fast—and it’s how credit unions will thrive.”
Scaling Innovation Without Leaving Small CUs Behind
Many participants asked: What if we’re a small CU with limited resources?
Adrian reminded them of past scale models:
“When we deployed Forge, we had tiered champions like First West and FirstOntario. Others followed that proven model. And we’re seeing consortiums, like League Data, using Mambu to deploy for 40 CUs in 15 months.”
Amber confirmed:
“You can convert in cohorts and customize later. For once, you don’t have to do everything all at once.”
Meet the Team at WCUC 2025
As this conversation continues globally, Aequilibrium, Plumery, and Mambu will be at the World Credit Union Conference in Stockholm.
Meet Adrian, Ben, and Mambu’s Leon Stevens in the AEQ VR Lounge and explore how your credit union can turn disruption into transformation.
Final Word from Adrian:
“Don’t just copy the past. Your platform is already two years behind. If it takes two more years to launch, you’ll be four years behind. Instead, ask: where will the puck be? That’s where you need to skate.”
As Canadian credit unions stand at the crossroads of a once-in-a-decade reset, leaders need to think beyond replacing aging systems—toward truly democratizing innovation for every member they serve. This fireside chat with Aequilibrium, Plumery, and Mambu makes one thing clear: transformation doesn’t have to be overwhelming, expensive, or out of reach. By embracing composability, choosing the right partners, and planning for continuous evolution—not just a one-time lift-and-shift—credit unions can meet and exceed the expectations of today’s digital-first members.
Watch the full fireside chat and get the strategies you need to turn the Forge sunset into your springboard for success. Download and watch the webinar recording here.
Reach out to our team directly to discuss your migration needs and how we can help you choose the right team.
