Most financial institutions have been slow on the uptake when it comes to cryptocurrency. It’s still a relatively new technology and represents a definite risk. But there might also be risk in steering clear much longer.
By W.B. King
Originally published by Finopotamus – Fintech News for Hungry CUs
While most credit unions are using machine learning (ML) and artificial intelligence (AI) in some form, the industry lacks a cohesive strategy. This premise is among themes covered in FinAncIal: Helping Financial Services Executives Prepare for an Artificial World, a new book by Ongoing Operations’ CEO Kirk Drake.
The Apple Card is going to change things.
With its large market appeal and history of developing user-friendly tech, the Apple Card is set to disrupt offerings from traditional card issuers. Credit unions especially may worry about losing market share. And they should worry—if they’re unwilling to learn from Apple.
Overall, not everything that changes will be good, and not everything will be bad. I actually expect the Apple Card to benefit both consumers and financial institutions in the long run.
Nevertheless, I’m not sold on the card itself. Here are my series of hot takes.