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Creditunions (CUs) and other financial institutions (FIs) across the country have made leaps and bounds in their efforts to digitize services in recent years to meet an already-growing consumer demand. Headquarters Federal CreditUnion, created to serve its employees.
This week's look at the latest in open banking initiatives shows creativity in how FinTechs, creditunions (CUs) and banks wield data integrations for the benefit of corporate end users, from streamlined credit underwriting to automated expense management. Purdue Federal CreditUnion, Payrailz Collaborate.
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.
The market share of creditunions is only a fraction of their larger bank counterparts, but they tend to inspire a greater sense of loyalty among customers. Data from PYMNTS’ CreditUnion Innovation Index found that 60.8 How Does Open Banking Help CreditUnions?
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.
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.
Creditunions (CUs) have been riding high in recent years, with one October report finding that global CU membership hit an all-time high of 291 million last year. Around the CreditUnion World. Some organizations are keeping members secure by partnering to provide the latest cutting-edge solutions.
To that end, according to Scott Young, PSCU ’s vice president of innovation, creditunions (CUs) seeking to cement customer loyalty through tech-driven innovation need to keep one mantra top of mind: “Easy is the new loyalty.”.
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. Around the CreditUnion World. It’s not just online experiences that are getting upgrades.
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.
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.
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.
With over 58 percent of customers saying they’re “extremely” satisfied with creditunions (CUs) and nearly six in 10 saying they would stick with their CU even if it didn’t have all the bells and whistles of bank tech that competitors do, the bond between members and CUs remain strong. Innovate or Die’. And Finally, Fraud.
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