Increased efficiency, security, and speed. These are the primary benefits credit unions could realize by developing a network based on blockchain. Rich Meade, CUNA chief operating officer, presented the possibilities for credit unions at America’s Credit Union Conference Wednesday.
Credit unions are the original financial services disrupters. And they are the original cooperative cooperators. Those two essential traits of their DNA make them the perfect business model to shake up financial services again by moving squarely into the innovative blockchain or "shared ledger" model of transactions.
NEWARK, N.J. (3/25/16)--More than half of companies still make at least 75% of their business-to-business payments by check. This despite most organizations currently have the functionality to do so electronically, according to the 2016 Payment Survey by Accounts Payable Now.
NEW YORK (3/14/16)--Increased use of electronic payments, including credit, debit and prepaid cards, contributed $296 billion to economic growth across 70 countries between 2011 and 2015, according to a new study by Moody’s Analytics commissioned by Visa.
AUSTIN, Texas (3/8/16)--Kasasa, a technology and marketing provider, announced that accountholders can now use their institution-issued credit card to qualify for rewards by employing credit card as a qualifier.
BROOKFIELD, Wis. (3/4/16)--Consumers are increasingly using their mobile devices to make bill payments, according to new research from Fiserv. Visits to biller websites from mobile devices grew 42% over the past year and now make up 24% of all website visits.
HAMPSHIRE, United Kingdom (3/2/16)--The number of consumers making contactless payments through their mobile devices will reach 148 million this year, and financial institutions are expected to play a key role in the widespread growth, according to new data from Juniper Research.