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.
MADISON, Wis. (4/12/16)--Financial think tank BIG and Everynym.com are hosting a free webinar, sponsored by CUNA and Mountain West Credit Union Association, to foster a better understanding of blockchain technology.
SALT LAKE CITY (4/8/16)--Consumers want to get their payment tools from their financial institutions, said CO-OP Financial Services’ Caroline Willard, during the final day of the 2016 CUNA Payments Roundtable in Salt Lake City Thursday.
SALT LAKE CITY (4/7/16)--Consider this: Facebook is a $236 billion company, and it offers no original content. The rental website AirBnB is capitalized at $10 billion and doesn’t own an inch of real estate. Uber is worth $40 billion and doesn’t own a single vehicle.
SALT LAKE CITY (4/6/16)--The age of data analytics has raised the bar for credit unions, whose members expect a celebrity-like experience, explained Peter Nohelty, chief technology officer, Royal CU, Eau Claire, Wis., during his presentation at the 2016 CUNA Data Analytics Roundtable.
SALT LAKE CITY (4/6/16)--Ben Morales, chief information officer of WSECU, Olympia, Wash., shared his credit union’s experiences in developing business data analytics capability during the 2016 CUNA Data Analytics Roundtable in Salt Lake City Tuesday.
SALT LAKE CITY (4/5/16)--John Best, president/CEO of Best Innovation Group, likened the data analytics space to the “Wild West” during the 2016 CUNA Data Analytics Roundtable, held through today in Salt Lake City. And credit unions must adopt some of the same traits that helped the pioneers settle and tame the Wild West, Best said.
SALT LAKE CITY (4/5/16)--If credit unions are to position themselves as disruptors in the data analytics space, it will take a collaborative effort, two experts advised at Monday’s 2016 CUNA Data Analytics Roundtable in Salt Lake City.
WASHINGTON (3/29/16)--Just over 40% of retailers have not updated point-of-sale terminals in any of their stores--nearly six months after the Oct. 1 deadline for merchants to adopt the EMV chip standard.