or Michigan State University Federal
Credit Union (MSUFCU), The Lab at
MSUFCU is a testing ground for future
technologies and a representation of how traditional
finance houses are keeping in step with fintechs.
MSUFCU’s venture into an incubator format for
proving new technologies goes beyond stuffing a
bunch of engineers into a room and hoping they’ll
create the next unicorn. In fact, it supports startups
who can offer technology partnerships and brings
the most successful ones to pilot stage, while train-
ing its own team to work with the new technology.
MSUFCU gets to test the product, the partner-
ship and its own team on a journey that goes from
inception to implementation. But The Lab was not
born overnight.
“The Lab is a combination of years of organic
innovation formalized into a place to experiment
with different fintechs and innovative companies
and talk about those experiments, and get our
members involved early on,” says Ben Maxim,
assistant vice president of digital strategy and
innovation at MSUFCU.F
MSU Federal Credit Union has
launched The Lab at MSUFCU,
a testing program for rapid
development of technology
solutions. But it’s so much more146
FEBRUARY 2021MSU FEDERAL CREDIT UNION