RANCHO CUCAMONGA, Calif. (5/6/13)--Robert Baron of Technicolor FCU, Burbank, Calif., with his idea for a "Virtual Teller System," is the winner of the CO-OP THINK Prize 13 and the recipient of $10,000.
The three finalists in the competition presented their ideas to attendees of THINK 13 in Chicago, Thursday. Baron, director of marketing for Technicolor FCU, was announced the winner at the conference's gala the same evening.
The two other finalists and their ideas were:
"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.
CO-OP Financial Services and CO-OP THINK Prize 13 sponsor MasterCard presented the $10,000 award.
"One of the biggest structural dilemmas the credit union industry faces is that 'banking hours' are usually the same as 'working hours,' making interpersonal engagement between members and credit unions more difficult," Baron said in his business plan describing his entry. "I have developed [a plan for] a secure virtual teller system that would allow members to visit any branch without ever having to leave their home or office, through video-conferencing from either a computer or mobile phone."