Links in “Technology”

As the amount of financial institutions declines, many smaller institutions speculate about the uncertainty of their own futures. The downtrend has certainly been widely reported over the past few weeks, months and even years, even in the general press, which tends to run stark images of an endangered field. [3/1/16]

A digital marketing company, CUGROW, offers live user testing for homepages or client credit unions, allowing for an unbiased review of their own web-based and mobile formatted services offered to members. [3/1/16]

A new report from the Filene Research Institute entitled, The State of Data Technology in Credit Unions: The Sink-or-Swim Crossroad Ahead, warns that credit unions are not unleashing the full power of technology and as a result have not allowed technology to transform the way they do business. The paper identifies a number of opportunities that credit unions should be taking advantage of from the use of actionable data and member scorecards to the use of predictive analytics, multichannel relationship management, and simpler banking enterprise ecosystems. [2/18/16]

With the industry and consumers relying more and more on omnichannel (i.e. branch, net, telephone, ATM) access for their financial needs, what are some of the key factors to think about when making best practice changes leading to a branch transformation? [2/16/16]

Shockingly, only 17% are familiar with the term! (We confess, we had to look it up, too.) [2/12/16]

From hacktivists, nation states, organized criminals, and insiders to lone individuals simply seeking to boost their reputation within the hacking community, each type of attacker poses their own brand of risks. [1/27/16]

We've heard much about driverless cars, but could driverless banking also be heading our way? A look at fully automated banking, including investing, paying bills, making cash withdrawals, etc. (Which raises the question of whether a time will come when a driverless car will pull up to the teller drive-through window, where it will be helped by an automated teller, and between them launch Skynet and take over the world.) [1/25/16]

It is estimated that by the year 2020 there will be $500 billion in transactions conducted by wearable devices, such as Apple Watch. Understanding how that market works today and how it will evolve may be key to ensuring that you are meeting the needs and desires of your members for speed and convenience. [1/15/16]

The answer is “it depends.” Usage patterns differ based on the delivery channels. Internet users in a browser transfer 75% more money internally than mobile users. On the other hand, person-to-person transfers occur more frequently on mobile devices. Android and iPhone users login to their accounts at banks and credit unions almost twice as often as Internet users. [1/8/16]

A new report from the Federal Trade Commission delves into the use of Big Data and discusses how outcomes from analysis can be used to provide benefits to underserved populations in opposition to excluding these populations from credit, healthcare, and education opportunities [1/7/16].