Faster Payments Council

SEPTEMBER 12, 2022

Regulators encourage these efforts to educate and set a high bar, as evidenced in public commentary by NCUA board member and former chair Rodney Hood. How can we look to this rapidly growing business for new use cases for instant payments? What will this look like in the coming years?

FPC 88

FPC Federal Reserve Cross-Border Payments Faster Payments 88

PYMNTS

SEPTEMBER 23, 2019

Advanced technology is increasingly raising the stakes of how CUs should operate, with members coming to expect the instant payments and slick mobile interfaces that large banks and FinTechs have made standard. Credit unions (CUs) are facing an ever-shifting financial services landscape. Federally insured CUs in the U.S.

Credit Union 63

Credit Union NCUA Online and Mobile Banking Underserved 63

PYMNTS

DECEMBER 27, 2019

Specifically, the metamorphic impact of mobile open banking and instant payments has been the first real test of the trust bond that holds CUs together. The National Credit Union Administration (NCUA) trade group reported that net income for credit unions fell by 1.1 Strong balance sheets in key areas like credit card debt ($64.4

Credit Union 52

Credit Union Credit Union Service Organization NCUA Instant Payments 52

PYMNTS

AUGUST 27, 2019

percent, it was only the seventh-most important priority among CUs, which are instead focusing on open banking options that offer anti-money laundering (AML), data security and instant payments technology. While the PYMNTS study found loyalty programs are members’ most popular desire at 49.1 CUs are facing more scrutiny in the U.S.,

Credit Union 49

Credit Union NCUA Non-Bank Money Laundering 49