Speaker Spotlight: Kirk Drake Helps Credit Unions Connect with Members
by Catalyst Corporate | Mar 20, 2018 Timing is everything, especially when it relates to a credit union’s long-term success, says Kirk Drake, co-founder of CU Wallet, LLC and CU 2.0 strategist. Drake, a featured speaker at Catalyst Corporate’s 2018 Future Forums, believes implementing technologies at the right time is key to a credit union’s sustainability. “Don’t […]
MRDC 2.0 And Your Credit Union
By Robert McGarvey For CU2.0 A new report from RemoteDepositCapture.com makes plain that mRDC now is a must for credit unions. Declared the report: “mRDC is no longer a competitive differentiator, but instead a ‘must-have’ offering Financial Institutions need simply to remain competitive.” Without mRDC you just may not be competitive. That’s a stinging reality. This claim, incidentally, is underscored by a […]
Credit Union Data Analytics: Risk Awareness
As we continue the Credit Union 2.0 “Almost 99 Small Data Hacks for Credit Unions – guide” series, today we are covering risk items for internal consumption only. While many of our hacks are targeted at proactive marketing, these hacks are key insights you can gather internally from your member data. This is the fifth […]
Predictive Analytics for Credit Union: Member Limits
In the first several posts in this series, we covered key insights that can be gathered from address changes, payroll changes, and fees as part of our “Almost 99 Small Data Hacks for Credit Unions” series. Next up, we will dive into credit union services and limits that can sometimes negatively impact your relationship with […]
Data Analytics for Credit Unions: What can you learn from your member’s payroll?
In the last post in this series, we covered key insights and actions you can take when your member changes their address. This post continues takes a similar path and explores what can you learn when your member changes their payroll. This is the third part of a 9 part series. If you can’t wait […]
Why MRDC Hasn’t Fulfilled Its Promise
By Robert McGarvey For Credit Union 2.0 A new research report from Javelin on “Why Digital Banking Often Fails to Reduce Offline Volume” has an infographic that just popped my eyes. The subject: “Reasons Why Consumers Avoid Mobile Banking and Turn to the Branch or ATM for Check Deposits.” Javelin offers answers but, first, why do […]
Credit Union Data Analytics: Put the Community in your Fees!
If you work for a credit union and are looking for ideas on how to leverage key data to improve your member service or overall credit union member experience, then this post is for you. This is the first post of a 9 part series. If you want the full guide “Almost 99 Credit Union […]
What’s Not In Your Members’ Mobile Wallets
By Robert McGarvey for Credit Union 2.0 Two stats jump out of a PSCU and Javelin report entitled “The Credit Union Guide to Opportunities in IoT, Biometrics and E-commerce.” Credit union members love their smartphones -80.9% own one. That’s roughly comparable to big bank customers – 88.4% of them own a smartphone. Where credit union members falter however […]
PayPal and Your Credit Union
By Robert McGarvey for CreditUnion 2.0 Feast on a frightening metric: PayPal, an Internet company from the start, now is worth more than venerable American Express. Its current market cap is north of $80 billion and, meantime, it is busy fighting multiple wars, against Apple Pay at point of sale, Square in cash transfers, and Chase and Citibank backed Zelle in […]
Must a Credit Union Hop on the AI Train?
By Robert McGarvey for Credit Union 2.0 Short answer to the question posed in the headline: yes. More nuanced answer: Yes but slowly, deliberately. Right now, AI – artificial intelligence – is the hot buzzword in fintech circles. AI means using a computer’s brains to do tasks that traditionally have been done by people, […]