When will instant payments come to smaller credit unions?
Perhaps the better question is: Will instant payments ever come to smaller credit unions?
On the show are Bob West, CEO of CUSO CU*South, which serves some 360 credit unions (in 42 states, not just the south), and Keith Riddle of Payfinia, which has launched an instant payment platform that integrated with CU*South’s technology – meaning it’s straightforward for a CU*South customer to integrate into Payfinia’s tools.
Now get this: most CU*South credit unions are smaller institutions. Lots are under $350 million in assets.
What might have seen a dream – available only to the likes of Chase and Navy Fed – now is available to small institutions.
Does it matter?
Will members use this instant payments technology?
Instant payments are a reality – that’s a fact in today’s immediacy economy. Credit unions need to climb aboard this train.
