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PSCU , a payments creditunionserviceorganization (CUSO), has rolled out its Digital Issuance solution in an effort to keep bolstering the creditunion (CU) member experience, according to a Thursday (Dec. 10) announcement.
PSCU , the creditunionserviceorganization (CUSO), announced on Monday (Feb. 24) that it is finishing up a proof of concept (POC) with CULedger and Baxter CreditUnion (BCU) for a blockchain-based decentralized identification platform. They are now using it to verify their identities.
The feature can connect to more than 11,000 financial institutions (FIs) and retains security through multifactor authentication and tokenization, Acumatica explained. In a creditunion-FinTech tie-up, Purdue Federal CreditUnion has revealed a collaboration with digital payments company Payrailz to enhance its own payment offerings.
Building and maintaining members’ trust is another crucial factor in determining CUs’ success, and one survey revealed that turning to biometric authentication measures could be just what CUs need to achieve this. Some organizations are keeping members secure by partnering to provide the latest cutting-edge solutions.
Headquarters Federal CreditUnion, created to serve its employees. The new features include a biometric voice authentication system intended to reduce the time spent waiting on hold and fortify security. The name is a nod to the CU’s founding 85 years ago by the Western Electric Company as the W.
The creditunionserviceorganization (CUSO) said it blocked cybercriminals at several channel intersections, including at the point of sale, at its contact centers and other avenues. PSCU also uses Pindrop to fight contact center authentication fraud, which saved over $22 million.
Debit transactions are on the rise, with creditunionserviceorganization PSCU finding that the value of payments made with debit cards rose 18 percent year over year between June 29 and July 5. Around The Next-Gen Debit World. Download the Tracker to read more. About The Tracker.
As COVID-19, the disease caused by the coronavirus , ravages the economy, and millions of Americans shelter in place to figure out their next financial moves amid layoffs and volatile markets, creditunions (CUs) have a role to play — particularly in the battle against fraudsters who would prey upon CU members at this most vulnerable moment.
He said that developing the services consumers need now, and will need in the future, can be an easier lift through collaboration. Of the joint efforts toward innovation, Young said, “there’s the ability to test, learn and understand — in small samples and small pilots — what appetites your organization and your members have for change.
Aggregating financial data from a smorgasbord of FIs enables CUs to create customer profiles and forecast the services they will likely use. Member onboarding could also be accelerated, as members will no longer need to provide authentication to each of their FIs.
In the March CreditUnion Tracker , PYMNTS explores how creditunions (CUs) and creditunionserviceorganizations (CUSOs) are working to cater to the unique financial needs of their members, while also focusing on continually combating fraud. Around the CreditUnion Landscape.
In a landscape that’s fast evolving to match the needs of tech-savvy customers, creditunions are innovating to compete with larger commercial banks and FinTech firms to attract and retain customers. A creditunionserviceorganization (CUSO) for first responders is also working to ensure that their members’ websites are ADA-friendly.
Navy Federal CreditUnion’s use of VoiceID is a big step in call center authentication, for example, and a smooth form of friendly friction. Such solutions could be key to preventing evolving fraud types, according to Jack Lynch, senior vice president and chief risk officer at creditunionserviceorganization (CUSO) PSCU.
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