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Articles Tagged with 'payments'
Data Security: How Much Will EMV Help?
June 26, 2014
Will new fraud-fighting technology be enough to thwart threats such as the Target data breach?
Tech Budgets Are Going Mobile
June 11, 2014
CU's technology budgets are growing, due in large part to increased demand for mobile services.
Disruption in Payments
June 02, 2014
Nontraditional payment providers want to position themselves between you and your members.
A New Payments Norm
June 01, 2014
Waiting for the payments revolution? Be patient.
Walmart Disrupts U.S. Money Transfers
June 01, 2014
Walmart’s pricing model is a disruptor.
Hollen: Consumers Will Determine Digital Payments Landscape
May 27, 2014
The CO-OP Financial Services CEO discusses emerging payments methods during an exclusive interview at Think 14.
High Interest, Low Activity in Mobile Payments
May 12, 2014
‘Consumers need to be given an incentive to use mobile payments.’
Payments Strategy Should Focus on Relationships
May 09, 2014
CUs should exploit the ‘crazy good’ data they have on ACH reports.
Highlights from the CUNA Payments Roundtable
May 08, 2014
Scenes from day two of CUNA’s payments conference in Las Vegas.
Six Factors That Will Change the Future of Payments
May 06, 2014
Checking account remains a valuable asset for CUs.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Regulators Focus on Interest-Rate Risk
Advocacy Puts Board Members on Offense
Five Cyber Security Considerations for CUs
Win Employee Love: Four Steps
David, good point about the "recovering comfortably" comment. That was an editorial addition--which I'll remove.
Many good points but too rosy? Will the "Federal Reserve raise short-term interest rates 1% per year for the next three years, starting in 2015—“probably next year at this time” ? I have heard from other economist that the US government will go bankrupt if that happens due to the QE the fed has done for several years. Also it seems an exaggeration to say “We survived a heart attack,now the economy is recovering comfortably." Comfortably recovering is too ignore the economic stress that many members still live with daily that will eventually affect many credit unions.
Karan, Great article and insight. I would also recommend that you start getting those credit cards into the hands of the youth BEFORE they are in college. One of the best ways to reach this young generation is through mom and dad. Before the student goes to college, get them started with a credit card (even if mom and dad are joint on it). It's never too early to start marketing credit cards. Mark
I would respectfully disagree that transactional data is a good place to start. In my opinion, relationship data is a much better starting point. Transactional data tends to require more "mining" of thousands/millions of transactions to identify opportunities or threats. Relationship data, however, involves identifying and profiling your high-value relationships (those profitable relationships with multiple products/services, for example) and leveraging that information to attract/cross-sell similar members. Generally involves a bit less effort and quite a bit higher return.
Congratulations on a fine article. Perhaps the best advise is unsaid but exemplified throughout the article - namely avoiding the use of the term "Financial Literacy." The term is insulting and counterproductive because it implies that those who take the training are "Illiterate."
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