CU 2.0 Podcast Episode 80 Scott Petry Authentic8 on the Tower of Babel in Many FIs

They just don’t talk well together.

That’s the surprising conclusion in a report entitled “Surprising Disconnect Over Compliance and Secure Web Use at Financial Firms,” research sponsored by IT security company Authentic8. (Download the report here.)

Inside many banks and credit unions IT, compliance, and legal just don’t talk the same language and often do not see the same problems, according to this report.

Read the related CUInsight article about the report here

Today’s guest, Scott Petry, CEO of Authentic8 who will tell is about this internal Tower of Babel.

Here’s why it matters: “this disconnect creates the potential for sizable gaps in compliance and data protection approaches in these organizations.”

Credit unions may have even tougher going because in many cases some of these tasks are outsourced and often the vendors simply do not talk together. Ever.

Often, said the report, compliance focuses on reducing risks, legal relies on security policies, and IT is more attuned to attack vectors and keeping users content.

And those three orientations may collide.

The report explores how to get the three competing tribes on the same page, thus improving the institution’s digital security.

The report also looks at how to maximize web use while maintaining optimal security.  Increasingly a tool of choice is remote browser isolation and Petry tells why this solution is gaining favor inside many financial institutions.

The conversation starts off with an attention grabber: why the ordinary URL is IT’s nightmare. And know that Authentic8’s Silo web browser has built in protections that anticipate – and solve for – user errors, pages they should not have clicked on, and still worse. It’s protection for the Age of the Web and it consumes the first half of the podcast.

From there, we turn back to the question of the three tribes – and how to get them cooperating for the security of the organization.

Be prepared to hear realities you haven’t thought about – and the result may be heightened internal security.

Read the report. It’s short, it’s free, but it’s provocative: Get it here.

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Want to listen to more of the Credit Union 2.0 podcast series? Click here to view the series.

8 FAQs from Credit Unions on How to Respond to COVID-19

The Coronavirus pandemic has officially settled in, but credit unions can expect to deal with the fallout for months. This leads to many questions rolling in on how to keep the wheels turning in your institution.

But there are more questions than answers. How do you know when it’s time to close one of your branches? How can employees work remotely? How do you set up large meetings remotely? What do you do if an employee tests positive for COVID-19?

Continue reading “8 FAQs from Credit Unions on How to Respond to COVID-19”

CU 2.0 Fintech Friday: Tally St

It’s CU 2.0 Fintech Friday! Today, Chris Otey sits down with Tally St to discuss all things credit union, fintech, and digital innovation.

This is our chance to chat with the people who push our industry forward. They bring new techniques, new technologies, and new points of view to the scene. (And we promise, we’ll try to avoid digital distractions for your credit union’s CEO!)

Continue reading “CU 2.0 Fintech Friday: Tally St”

CU 2.0 Fintech Friday: LionX

It’s CU 2.0 Fintech Friday! Today, Chris Otey sits down with RenoFi to discuss all things credit union, fintech, and digital innovation.

This is our chance to chat with the people who push our industry forward. They bring new techniques, new technologies, and new points of view to the scene. (And we promise, we’ll try to avoid digital distractions for your credit union’s CEO!)

Continue reading “CU 2.0 Fintech Friday: LionX”

CU 2.0 Podcast Episode 74 Blesson Abraham of Cambio and 2nd Chances at Financial Services

Every day people – maybe thousands of them – are turned away by financial institutions, credit unions included. These people, by necessity, utilize the periphery of financial services such as payday lenders and bill pay via pricey money orders.

It’s expensive to be poor.

Wouldn’t it be nice if credit unions could do more to help these people get back on a healthy financial path?

It could in fact be life changing.

CU2.0

Enter Cambio, an app that gamifies finance and, along the way, gives its users a debit card and also rewards them for their smart financial behaviors such as paying an electric bill on time.

Along the way, Cambio is working with the Illinois Credit Union League and Cambio founder Blesson Abraham said that he envisions significant roles for credit unions with Cambio. Case in point: credit unions may want to get dibs on Cambio users that have successfully turned around their financial behavior.

Just that is exactly what Cambio is about: helping consumers change their behavior around money.

Many credit unions want to do more on that theme in their community. So check out Cambio.

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Want to listen to more of the Credit Union 2.0 podcast series? Click here to view the series.