CU 2.0 Fintech Friday: Unadat

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

There is over $3,000,000,000,000 in outstanding personal debt in the U.S. right now. That’s three trillion. That’s the numeral 3 followed by twelve zeros. That’s enough to buy the New York Yankees more than 800 times. In short? That’s a lot.

Unadat seeks to help people outsmart their debt. Unadat works with mission-driven organizations like DCU to help people improve their credit scores and save on debt payments.

Unadata is a web-based platform with integrations into existing points of sale, such as those in credit unions. People can visit the website to find their best loan rates. Then, in order to ensure that they don’t get their loan applications rejected, Unadat finds ways to improve the applicants’ credit scores and perceived creditworthiness.

The goal is to help people manage their debt more strategically and effectively. Then, with Unadat behind them, they can stay more financially flexible and viable.

If this sounds like an intriguing credit union–fintech partnership, check out the video and Unadat snapshot below!

Credit Union Fintech Snapshot: Unadat

Top 3 Problems Solved

  1. Credit score improvement
  2. Debt management
  3. Financial wellness

Unadat Founder: Sean Smirnov

Unadat Market Strategy

Credit unions and anyone with debt.

Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.

Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.

If you want to learn more about credit union–fintech partnerships, click here.

CU 2.0 Fintech Friday: Tunnel

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

Tunnel is a forward-thinking payment system that seeks to provide better payment rails. Their platform is built on distributed ledger technology (DLT), which has two significant benefits: security and scalability.

The reality is that current payment rails have been around since at least the 80s. Considering how different the world of payments is now than it was then, it’s almost unimaginable to think that we’ve been relying on outdated technology for so long.

Older payment rails have good—but not great—security, speed, scalability, and associated cost. However, Tunnel saw room for improvement.

Tunnel offers real-time, low-cost, secure payments using DLT. DLT allows Tunnel to offer a payment portal (or Tunnel—get it?) that incorporates new security features like two-party authorization, biometrics, and more, which will drastically improve fraud detection.

Plus, distributed ledger technology requires fewer intermediaries than traditional payment rails, which speeds up payment processing while costing much less.

Tunnel’s goal is to address challenges in the financial sector, but that can be a tough market to break into. Much of the older technology is entrenched—essentially grandfathered in—despite its shortcomings. Nevertheless, Tunnel is deploying in the U.S., where their adoption curve is steady and strong.

But don’t worry international market! Tunnel’s coming to you very soon.

If this sounds like an intriguing credit union–fintech partnership, check out the video and Tunnel snapshot below!

Credit Union Fintech Snapshot: Tunnel

Top 3 Problems Solved

  1. Payment processing
  2. Fraud detection
  3. Distributed ledger technology

Tunnel Founder: Frank Makrides

Tunnel Market Strategy

Financial institutions and consumers.

Credit Union Fintech: Tunnel in the News

An interview with Frank Makrides

Understanding the blockchain

Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.

Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.

If you want to learn more about credit union–fintech partnerships, click here.

CU 2.0 Fintech Friday: Project Finance

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

Project Finance is a white-label online and mobile banking platform for banks and credit unions. Their platform is designed to assist members and customers with their financial goals. They do that by providing a layer of digital advice and guidance throughout the online banking experience, especially at the decision points people have when managing their money online.

One of the ways Project Finance accomplishes this is by leveraging machine learning. They source data from several sources, including from the banking cores they integrate with. From there, machine learning helps users better understand their current financial situation, provides predictive modeling to show their financial future, and offers recommendations and tools designed to help people better manage their money to achieve their goals.

What’s noble about Project Finance is their mission: they want to make people’s lives better. Although they come from a banking background, they’re diving into the world of credit unions because it fits with their philosophy. They want everyone to live financially happier, healthier lives.

Some key features of Project Finance’s software include:

  • Enhanced accessibility with biometric capabilities
  • Wide-ranging account management tools
  • Secure internal and external payment systems
  • Analytics-driven marketing and recommendations
  • Extensive third-party integrations

All of that is customizable through a powerful admin system that allows financial institutions to adjust user experience settings to better serve customers’ needs.

If this sounds like an intriguing credit union–fintech partnership, check out the video and Project Finance snapshot below

Credit Union Fintech Snapshot: Project Finance

Top 3 Problems Solved

  1. Online and mobile banking platform
  2. AI-driven banking
  3. Financial wellness

Project Finance Founders: Jeff Cole, Peter Cole, and Colby Ross

Project Finance Market Strategy: Banks and credit unions

Credit Union Fintech: Project Finance in the News

Project Finance assists with consumer finance

Project Finance thrives in the DCU Fintech Innovation Center

Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.

Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.

If you want to learn more about credit union–fintech partnerships, click here.

CU 2.0 Fintech Friday: Paerpay

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

 

Every now and then, a fintech comes along to disrupt an industry. Paerpay decided to disrupt the industry. That’s right: there’s a new payment system in town for the service industry, and it might be just what we all needed.

 

Speaking as a (former) high-end cocktail bartender, I understand the pain points of full-service restaurant servers. Especially in my time at an award-winning bar, the pace of service often went from 0 to 100 real quick. During our busy seasons, we often sat 15–20 tables within minutes of opening. With a good crew, that situation is stressful, but manageable.

 

However, there’s a bottleneck that occurs when tables are ready for the bill. Especially when several tables show up at once, tables often all need to leave at once, too. Unfortunately, there’s no way to expedite the process. There are only so many servers, and there are only so many Points of Sale available. Plus, any party who splits a check just makes the bottleneck worse.

 

Few things frustrate diners more than service that takes too long. Servers also get frustrated, and the time they spend closing tables out actively hampers their ability to tend to their other guests. Finally, restaurants lose out on tables because they can’t efficiently turn them quickly enough.

 

I remember all that, and I really, really don’t miss it one bit.

 

But Paerpay has a solution:

 

Make payment easier.

 

Their platform integrates with various POS systems. Paerpay users can sit down, keep an updated tab on their mobile device, and use the app to split, tip, and manage their bill. Essentially, Paerpay makes dining and dashing a real option.

 

Paerpay has had great initial success in a limited market, and they’re about to go live. Personally, I wish them luck. It will make servers’ jobs less stressful, help restaurants turn tables more efficiently, and ease customer frustrations with slow service or bill paying at the end of a meal.

 

If this sounds like an intriguing fintech, check out the video and Paerpay snapshot below!

 

 

Fintech Snapshot: Paerpay

Top 3 Problems Solved

  1. Restaurant payment
  2. Payment application
  3. Restaurant efficiency

Paerpay Founder: Derek Canton

Paerpay Market Strategy

Full-service restaurants and restaurant patrons

Credit Union Fintech: Paerpay in the News

A better payment system for restaurants and their diners

CEO Derek Canton featured on a “40 under 40” list

Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.

Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.

If you want to learn more about credit union–fintech partnerships, click here.

Crying Out for an End to Overdraft Fees? Meet Grain Technology

Probably the single most despised charge at financial institutions is the overdraft fee – and a NerdWallet survey of the exact charges imposed by a selection of mid-sized (Navy Federal) through mammoth (Chase) institutions found fees at $20 (Navy Federal) and as high as $39 (KeyBank).

$35 is a particularly common charge in the survey.

Rapacious greed.

Ask yourself this. You present a Visa card at WalMart and the card is declined (and you know it’s because the balance is overextended and a payment is late).  Does the cashier say, “Sorry, bud, card declined and now you owe us another $35 for being a nuisance.”

That does not happen.

You walk out without your purchase, but you aren’t dinged for a nuisance charge.

Overdrafts are different. Charges are the norm, even though at the financial institution, all that happens is that bits and bytes shuffle around on a computer screen.

 

Why Overdraft Fees Cost You

 

In the olden days, yes, a bounced check was a hassle. It generated lots of paperwork. Many hands of many clerks got involved. Very probably, a fee was justified.

Not today. It’s all automated.

A few innovative, digital-first institutions (Simple and Chime for instance) already charge no overdraft fees. More will follow. But very probably, many legacy institutions will cling to the fees because it’s easy money.

Some credit unions have worked up their own ways to help members avoid overdrafts – Hope Credit Union tell about its tools in this podcast – but many smaller institutions don’t know exactly how to handle this issue.

So they charge overdraft fees, the old school style.

It hurts consumers. It’s terrible for a financial institution’s reputation. But it is easy money.

So now third party work-arounds are in the mix.

 

An End to Overdraft Fees

 

For the consumer, the message is simple: you can keep your legacy checking account but make yourself immune to overdraft fees.

How?

Meet Grain Technology, a start up in the Bay Area on a mission to stamp out overdraft fees and, in the process, help Thin File consumers create credit histories. Win win.

For the participating credit union, it’s plug and play. The member links the share draft account to Grain and Grain takes care of the rest.

And Grain has been invited to play in the Arizona fintech sandbox, where they may pilot its tools free from some regulatory constraints. The company already has plans to offer its tools to students at Arizona State, the nation’s biggest university.

Exactly what does Grain do? In a conversation with Carl Memnon, COO of Grain and a co-founder (hear the podcast here), the details emerged.

The building blocks are that Grain takes a new look at the consumer’s spending habits, income, and expenses. It generates a proprietary algorithm. This lets it predict when a consumer’s linked checking account is likely to go into overdraft and Grain can offer an injection of cash to inoculate against an overdraft fee.

The charge? Grain sees its APR ranging from 12% to 15.99% and it envisions cash injections typically ranging from maybe $25 to a few hundred dollars.

Result one: no more overdraft fees.

Result two: the consumer builds a credit history that Grain will report to monitoring agencies. For a Thin File young adult, that just may be a real blessing. Especially since many of those generations are averse to using conventional credit instruments.

Right now, Grain is looking to partner with credit unions that want to help members avoid overdraft fees. Most of those consumers, said Memnon, probably will come from the money center banks (with overdraft fees typically around $35 per incident).

What would prompt a BofA customer to ditch that institution in favor of a much smaller credit union? Just one overdraft fee could do it.  Especially when the recruitment pitch is that this tool will stop overdraft fees, period.

Memnon said Grain also envisions sharing its interest income with participating institutions.

All while essentially living up to the credit union mission of helping consumers manage their money better.

Fail Forward Fast: Credit Union Lessons from the Fintech World

There are a lot of fads that deserve to be forgotten. Fidget spinners are one example. The mannequin challenge and Harlem Shake videos are others.

Let’s not get started on eating Tide Pods.

But some trends show us that there are other ways of accomplishing goals. Sometimes, hopping on a trend is less about fitting in, and more about finding a better way of doing things. Without trends, we wouldn’t have text messaging, YouTube tutorials, or ridesharing apps.

Here are a few things that credit unions can learn from the fintechs with whom we partner (and against whom we compete).

 

1. Push the Pace

 

Did you know that Amazon makes a software change roughly every 11 seconds? That’s about 8,000 changes per day.

Granted, technology changes are one of Amazon’s core competencies, but still—that’s a lot of changes.

Amazon is helping countless startups, fintechs, researchers, and individual users embrace machine learning, natural language processing, cloud hosting, and more. These kinds of technologies could drastically disrupt our industry (as well as many others).

Meanwhile, many credit unions still aren’t on the cloud.

At what point should credit unions consider these technologies an existential threat?

Well, that depends. If your credit union doesn’t trust new technology and wants to stick with the old-fashioned, tried-and-true way of doing things, then you should consider emerging technologies and software changes a threat now.

However, if you’re an early adopter of innovative technologies and software changes, then the future holds a lot of promise.

 

2. Understand Trends

 

Remember all that nonsense about fidget spinners and Tide Pods? Sure, they were obnoxious, but they revealed something incredible:

People are willing to try things.

One of the more interesting trends that has emerged in the last decade is the pop-up business model. Pop-ups are essentially strategically-deployed short-term shops. Pop-up retail shops see higher sales than online stores. Restaurant and bar pop-ups pave the way for new brick-and-mortar establishments.

South Bay Credit Union decided to hop on the trend: we set up a branch for $2,300, and we’re using it to reach new members, provide another location for existing members, and help people near our pop-up location better understand their finances and financial options.

It’s a risk, but it’s a risk we’re willing to take.

Understanding trends means a lot more than hopping on bandwagons, though. Understanding trends also means being engaged with new developments and changing regulations.

Most importantly, understanding trends means understanding members. Listening to member needs is critical to the future of credit unions. It’s the credit union’s job to give its members what they want (within reason, of course). Often, adopting emerging technologies or rethinking old strategies is the best way to make that happen.

 

3. Think Like a Fintech

 

Again, within reason. Here’s why: 90% of startups fail.

The reasons for that are various, of course. Sometimes it’s a bad product. Sometimes it’s lack of money. Sometimes their competitors just get there first. Sometimes the development cycle takes too long, or the scope of the project gradually expands, hogging resources.

Nevertheless, many startups make it. The ones that make it share several attributes that allow them to overcome obstacles or changes in direction, like prioritizing agile processes and hosting hackathons.

Here are a few of the most common attributes of great fintechs and startups:

  • They have a great product
  • They don’t ignore things—they actively listen and seek out feedback
  • They work on the business not in the business (minutiae of the day-to-day)
  • They emphasize growth
  • They recover quickly from setbacks

Credit unions already have a leg up in most of these areas. Great product? Check! Our rates are better than banks, and our customer service is unparalleled. Seek feedback? Double check! Taking care of our members is priority number one.

On the other hand, credit unions aren’t exactly in the business of creating new products or technologies the way fintechs do. With that in mind, here are some ways that credit unions can still serve as incubators of innovative ideas:

  • Meet with startups and fintechs
  • Roll out live betas
  • Listen to new ideas
  • Communicate with partners
  • Look outside typical networks

As technology continues developing at a rapid pace, we can play our part by keeping up with it. As we do, we’ll come across products, services, and strategies that benefit our members, our credit unions, and our communities.

Plus, we won’t be stuck with typewriters and personal checks when the rest of the world is using ipads and Venmo.

 

4. Create a Culture of Innovation

 

Fortunately, we’re moving into an era in which people appreciate creativity, effort, and authenticity. At no point in history have humans had such a green light to experiment, try new things, pursue exciting avenues for growth.

We support each other’s artistic works in progress on social media. We cheer on our friends as they train for their first triathlons. We let people know we support their efforts, even if they don’t always make it. You will likely find more support if you try and fail than if you never try at all.

Creating a culture of innovation means incorporating the above three ideas into one. Credit unions have to be willing to try new things and fail like a fintech or a startup. They have to understand what people—and the market—need. And, perhaps most importantly, they have to do it quickly.

Here are a few suggestions about how your credit union can speed up:

  • Build a culture of experimenting
  • Budget for unknown opportunities and failures
  • Create trust with the board
  • Report progress
  • Keep contracts short or cancelable
  • Think of vendors as partners
  • Learn at every opportunity
  • Don’t be afraid to pull the plug

The ultimate question is this: are you putting yourself out there? The answer should be “yes.”

Not everything is going to work out. Sometimes, it might seem like nothing will. However, surprisingly often, pushing for innovation will help you to discover or create something really cool. Or, at the very least, you’ll distinguish yourselves from the status quo.

You’ll rise above a sea of complacency, and you might even have fun doing it.

 

Tasting Our Own Cooking

 

At South Bay Credit Union, we’re experimenting with new technologies and ideas. We may not be making a software change every 11 seconds, but we’re doing our best to stay on top of critical developments and changes in our industry.

We opened a pop-up branch in a business center. We introduced CU Live video chat to support video banking for our members. We introduced Lease Look Alike and Visa’s Credit Card MobiMoney for our members’ convenience.

Not everything we’ve tried so far has worked. But that’s okay. We’re not here only to learn how to succeed.

We’re also here to learn how to fail. And we’re failing forward.

If you’d like to learn more about some technologies that can help your credit union, then check out the following blogs:

Email Marketing vs. Automated Marketing for Credit Unions

What Credit Union Marketing Automation Is, and Why It Matters

Jennifer Oliver is the President and CEO for South Bay Credit Union. She was previously the CEO for California Bear Credit Union. Overall, she has 30+ years of credit union experience, and 22+ years executive leadership in credit unions, including a focus in progressive management, sales & operations.

 

CU 2.0 Fintech Friday: Everyday Life

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

Everyday Life Insurance is a fintech that provides affordable, appropriate life insurance. Everyday Life Insurance uses AI and machine learning to provide life insurance recommendations. After giving its recommendations, Everyday Life serves as a digital agent, helping people select and purchase plans.

Life insurance is slowly but surely going the way of the dinosaur in the United States. Especially for low- and middle-income families, the premiums associated with life insurance can be prohibitively expensive.

Unfortunately, a lack of life insurance can also be a burden on families. In the last year, there were more than 125,000 GoFundMe campaigns requesting memorial service funds alone. That number doesn’t include other costs, nor does it cover other crowdfunding platforms.

Clearly, life insurance for lower- and middle-income earners is necessary. However, much of the industry in its current form can’t accommodate these demographics.

And then there’s the way that life insurance is frequently sold. First, new tiers of service, additional perks, and complicated upgrades get confusing. Then, insurance salespeople make commissions on their sales, which incentives upselling to policies that people don’t need, while also contributing to higher premiums.

It shouldn’t be so difficult.

Everyday Life Insurance aims to make the process of purchasing life insurance easier. By using AI and machine learning, they can quickly determine the best policies for people. By using these new technologies—and by refusing sales commissions—they can often recommend life insurance plans that can save 80% off the cost of traditional policies.

If this sounds like an intriguing credit union–fintech partnership, check out the video and Everyday Life snapshot below!

Credit Union Fintech Snapshot: Everyday Life

Top 3 Problems Solved

  1. Life insurance recommendations
  2. Life insurance purchasing
  3. Life insurance advocacy

Everyday Life Founder: Jake Tamarkin and Dipali Trivedi

Everyday Life Market Strategy: Individual consumers and credit unions

Credit Union Fintech: Everyday Life in the News

What’s wrong with life insurance?

What kind of life insurance do you need?

Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.

Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.

If you want to learn more about credit union–fintech partnerships, click here.

CU 2.0 Fintech Friday: CU Student Choice

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

CU Student Choice works with credit unions to provide prospective university students with student loans. Their goal is to simplify the college loan process for students. This simplification, they hope, will help students find good-value educational loans to finance their education. They also make it so that the borrower doesn’t have to reapply for loans each year.

For all of us who have taken out federal student loans at some point—that setup sounds like a breath of fresh air. Nobody likes filling out FAFSA forms year after year.

It sounds even better for those of us who took out private student loans. The interest rates on those often exceed any reasonable boundaries.

The current loan landscape is fraught with difficult decisions. CU Student Choice wants to help make those decisions easier. To that end, they look to partner not only with credit unions, but with other fintechs as well. For example, they work with Edmit to streamline the college search as well as the finance journey.

If this sounds like an intriguing credit union–fintech partnership, check out the video and CU Student Choice snapshot below!

Credit Union Fintech Snapshot: CU Student Choice

Top 3 Problems Solved

  1. Student loans
  2. Student loan refinancing
  3. Finance for students

CU Student Choice Founder: Scott Patterson

CU Student Choice Market Strategy: Credit unions and fintechs

Credit Union Fintech: CU Student Choice in the News

CU Student Choice provides student borrowers with new loan options

CU Student Choice partners with FutureFuel.io to assist with student loan repayment

Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.

Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.

If you want to learn more about credit union–fintech partnerships, click here.

CU 2.0 Fintech Happy Hour at CUNA GAC 2019

Thanks to all who attended the inaugural CU 2.0 Fintech Happy Hour at CUNA’s Governmental Affairs Conference (GAC) 2019. It was a terrific time networking with Credit Union executives and various companies and fintechs disrupting the industry and revolutionizing areas of member experience from mobile banking to data insights. Companies in attendance included:

If you could not make it to this event, we hope you will join us next year! Also, keep an eye out for other CU 2.0 Fintech Happy Hours popping up at various other Credit Union conferences throughout the year! Check out upcoming CU 2.0 events here.

 

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CU 2.0 Fintech Friday: Coalesce AI

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

fintech partnerships

Coalesce.ai helps credit unions introduce the power of AI and machine learning into their operational ecosystem. Their platform utilizes User-Defined Machine Learning, which allows clients to train Coalesce.ai’s automation platform how to gain expertise in a certain set of tasks.

Coalesce.ai’s systems helps credit unions and financial industries reduce error and increase efficiency while saving time. By reducing or eliminating the possibility for human error and the necessity for manual labor, Coalesce.ai lets ten credit union employees accomplish the work of a hundred.

For credit unions, Coalesce.ai found that “the operations of a financial services firm like a credit union today requires—especially in the middle and back office—a lot of tedious, manual, repetitive work: opening spreadsheets, scanning emails, filtering through PDF documents. And with this new AI technology, we’ve been able to automate the way that some of that gets done at credit unions.”

If this sounds like an intriguing credit union–fintech partnership, check out the video and Coalesce.ai snapshot below!

Credit Union Fintech Snapshot: Coalesce.ai

Top 3 Problems Solved

  1. Workflow automation
  2. AI and User-Defined Machine Learning
  3. Streamline operations

Coalesce.ai Founder: Greg Woolf

Coalesce.ai Market Strategy

Credit Unions.

Credit Union Fintech: Coalesce.ai in the News

Coalesce.ai introduces AI elements to workflows

Coalesce.ai works with IBM’s Watson

Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.

Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.

If you want to learn more about credit union–fintech partnerships, click here.