The news: The credit union mobile banking market is becoming more concentrated. The top four vendors serve 45.5% of institutions, and the top 10 account for 77.5%, according to FI Navigator data.

Fiserv leads by a wide margin, serving 21.1% of credit unions, compared with 9.0% for second-place CU Answers. Alkami, Jack Henry, Lumin Digital, and Mahalo Technologies gained ground over the past three years, while seven providers among the top 15 lost ground.

Why it matters: Many credit unions depend on outside tech providers to deliver the mobile experiences members expect. That makes vendor selection more than an operational decision: A provider’s product development, integration capabilities, and implementation speed can directly affect a credit union’s competitiveness with larger banks and fintechs.

The vendor shifts come as mobile banking remains paramount to credit unions’ ability to retain younger members. 

• The share of Gen Zers relying primarily on neobanks nearly doubled YoY to 17.2% in 2025, while credit unions’ share fell to 7.3%, according to EMARKETER’s “Community Banking and Credit Union Trends 2026” report.