- Hispanic Resources
As CO-OP Financial Service's THINK Conference kicks off in Chicago this week, President/CEO Stan Hollen reflects on how the company has evolved since he took over more than seven years ago.
Image processing, including ATM image capture and remote deposit capture;
Credit cards, enhanced by CO-OP's strategic relationship with The Members Group to bring full-service program options to credit unions;
Shared branching, with the goal to become the largest branch network; and
- A member center that provides outsourced call center and lending services.
Mobile. It's a "huge disruptor," he says. But keep in mind it's also just a channel, no different than the ATM or telephone. What are you trying to do through that device? Mobile and the trend toward it are significant, nonetheless.
The branching revolution. It will mean more automation and the deployment of technology at the teller windows, Hollen points out. It will mean the same number of teller windows but perhaps fewer tellers as self-service kiosks supported by video become more widespread.
- EMV. The move to EMV chip cards will be a huge change, but a good change. It will reduce fraud even more. But it's a big undertaking for the movement, affecting merchant terminals, and all ATMs. CO-OP is part of the Secure Remote Payment Council that's addressing EMV standards and solutions to the Durbin Amendment's debit transaction routing requirements.