CU 2.0 Podcast 60: Mike Hatch on Core Systems, Live from Finastra Community Markets

Name the single most important IT system in your credit union.

Spoiler alert: it’s not your core.  Not anymore.

Who says that? Mike Hatch, a VP and national sales manager at Finastra, and a core expert. Hatch knows the core is crucial but he also believes that it’s the institution’s digital orientation that will shape its future.

Core is part of that.

But it is not the end all.

Another question: is your core system holding your institution back? Can you easily – and inexpensively – integrate cool fintech technology into your core?

Say no and you are telling the truth.

But it’s the wrong answer. You want an open core that lets you deliver the tech your members want.

Credit unions are looking for ways to be different, says Hatch. An open core helps there.

Think cores are boring?  You won’t think this podcast is boring – and you just may find yourself wondering if now is the time to initiate a core conversion.

Scary? You bet. But going out of business is scarier.

This is one of a half dozen podcasts recorded at Finastra Community Markets in Chicago, October 2019.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available.

Find out more about CU2.0 and the digital transformation of credit unions here. It’s a journey every credit union needs to take. Pronto

 

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CU 2.0 Podcast 58: Jeff Bender on Digital First Members, Live from DN Intersect

Will your superior teller experiences guarantee your future?

Believe that and – probably – you won’t want to hear this podcast on the rise of the digital first member.  That member may occasionally step into a branch but usually they are unhappy. They would rather interact online.

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CU 2.0 Podcast 57: Scott Anderson Open Banking, Live from DN Intersect

One site to rule them all.

This is the banking version of the Tolkien quest for the one ring that rules them all.

Call this open banking and remember that phrase. It’s about to get much buzzier and louder over the next year as open banking transforms how US financial institutions interact.

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CU 2.0 Podcast 56: Ben Morales, QCash, and the Hunt for Financial Wellness

You have a successful product that puts small dollar loans in the hands of consumers who may have tattered credit but they need the money and you want to save them from predatory lenders who may charge interest upwards of 100% APR.

Your product usually involves loan rates of 24 to 36% APR.

Much better for the consumer.

And you have 11 other credit unions offering your loans.

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CU 2.0 Podcast 55: Richard Crone on Libra, Live From DN Intersect

Richard Crone is a longtime payments geek and when it comes to Libra, he has a particular spin.  It boils down to this: forget the talk about crypto currency. Libra fundamentally is a pre-paid account and because it is a Facebook effort, it has reach into some 2.1 billion daily users of Facebook tools (Facebook, Instagram, WhatsApp, Messenger, etc.).

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