Information about credit union members and other consumers is being collected—but credit unions aren’t always sure what do with all of that information and how it will help them provide for their members.
No credit union security system is complete without tokenization and authentication, Robert Jarosinski, CUNA Mutual Group senior risk management consultant, told attendees of a breakout session at the combined America’s Credit Union Conference and World Credit Union Conference Tuesday in Denver.
Starbucks' mobile payment app that allows customers to preload their smart devices with money--in effect, stripping processing-fee revenue from financial institutions--continues to expand. The Starbucks app now allows customers to pre-order drinks and other products from their smart devices and have them waiting for customers at the counter when they arrive.
The NCUA’s final field-of-membership rule was published Wednesday, making it effective Feb. 6. The rule, finalized by the NCUA board in October, facilitates consumer access to credit unions and provides credit unions with more flexibility.