With the rising availability of vaccinations and the country reopening, people are beginning to spend at or above pre-pandemic levels. And they’re turning to digital channels to complete their financial transactions, a move that was accelerated by the pandemic.
“Payments is the path to growth,” says Todd Clark, CEO of CO-OP Financial Services, a CUNA associate business member at the elite level. “Meet members where they’re doing their everyday business. I’m not saying abandon life-stage lending, but add these two things together.”
In this episode of the CUNA News Podcast, sponsored by CO-OP Financial Services, Clark discusses new solutions CO-OP is developing to assist with the payment pathway, recent payments research CO-OP conducted in partnership with EY, advice for combating fraud, and more.
In this episode:
1:53: New research about member behavior
3:26: Understanding today’s marketplace
6:52: Machine learning and transactions
8:10: Fintechs and members’ financial relationships
9:38: Security as a two-way conversation
11:55: Company culture to improve credit unions’ and members’ lives