NEW ORLEANS (5/23/14)--A vision to consolidate the fragmented mobile banking environment earned the $10,000 CO-OP THINK Prize 14 for Christopher Whalen, Connex CU, North Haven, Conn.
CO-OP Financial Services announced the winner of the $10,000 CO-OP THINK Prize 14 Thursday. Caroline Willard, executive vice president of markets and strategy, CO-OP Financial Services (left), winner Christopher Whalen, marketing and e-services specialist, Connex CU, North Haven, Conn., and Chris Ensley, senior account manager of strategic partners, MasterCard. (CO-OP Financial Services photo)
Whalen, who is a marketing and e-services specialist for the $399 million-asset credit union, submitted "Mobile One: A Complete Financial Solution" for CO-OP's innovation contest.
Whalen explained that, "MobileOne will make mobile banking truly mobile banking. (The vision is) to consolidate fragmented mobile solutions from within and outside the credit union industry into one platform."
The two other finalists were:
The $10,000 award to Whalen was presented by CO-OP Financial Services and CO-OP THINK Prize 14 sponsor MasterCard.
"Our goal with the CO-OP THINK Prize is to promote and inspire creative thinking on industry issues, and each of the three final business plans were wonderful displays of that," said Stan Hollen, CO-OP Financial Services president/CEO.
Though the ideas varied, the judging criteria for entries are based on four main standards--impact, creativity, aggregation (the application of the idea across the industry) and implementation (the ability to be adopted quickly).
Judges from CO-OP and the Filene Research Institute selected the three finalists, and the winner was determined by judges, online voters and registered THINK 14 attendees.