Digital Only Banks Rising
New research out of Juniper smacks most credit union leaders in the face. That’s because 50% of us now say we would consider switching to a digital-only bank. Indeed, many households already are actively contemplating a move to a digital-only bank.
Stop Blaming the Victims of Identity Theft
The recent Harris Poll numbers are a splash of icy water on our faces: three in five Americans believe identity theft will likely cause them financial loss in the next year.
Modernizing the Borrower Experience with Nonbank Mortgage Servicers like Valon
My partner and I would like to buy a house. We’re both Millennials in our 30s and we make enough money to dream about buying a home sometime soon. The problem is that a small fixer-upper where we live costs well over $300k.
Unpacking Legislation That Will Impact Credit Unions in 2021
Following the 2020 U.S. election, legislative priorities are expected to shift with a stronger focus on protecting consumers personal finances, establishing stricter disclosure requirements, and changing, or eliminating, overdraft fees. These actions will have a significant impact to the operations and income for credit unions.
Financial Wellbeing Starts with the Car Loan and Doesn’t End There
According to the Bureau of Labor statistics, transportation expenses are the second largest discretionary spending in a consumer’s budget. The industry is so large, it’s one of the few nationwide ‘trillion dollar’ industries. (Healthcare, food, and housing are the other three.)
3 Ways to Improve Your Digital Member Experience
In the early days of the pandemic, researchers were already hard at work. They wanted to see the effect our socially-distant lifestyle had on banking. Some of their findings were alarming—even though they’re right in line with what we expected.
Why Doesn’t Your Credit Union Have Zelle® Yet?
Here’s the thing: credit unions must prioritize digital convenience and utility. It’s starting to get embarrassing. In our weekly newsletter, we shared a short PR blurb about how Sound Credit Union recently completed a Zelle® integration. Sound Credit Union is well over $1b in assets, which raised several questions:
Credit Unions, Meet Lili: Your Mortal Enemy
In a very few minutes—under three—on a slow Friday afternoon, I opened and funded a banking account with Lili. Lili is a startup that has won a lot of buzz (plus $25 million in venture funding) in the space of a few short months.
“Who Am I?” How Credit Unions Flub Identity Management
A new FICO report vividly documents how badly most financial institutions are flubbing identity management, especially in crucially important new account opening.
Digital Transformation: How Automating Member Support Leads to Growth
Even before COVID-19, consumers have increasingly turned toward chatbots to help them with digital requests. Now that social distancing and work-from-home policies are normal, the chatbot trend is accelerating.