Welcome to the CUInsight Minute, sixty seconds from our Projects & Partnership Coordination Linda Lafortune with our favorite reads from the week.
The economy is finally starting to rebound a year after the recent pandemic. As detailed in the just-released Q1 2021 TransUnion Industry Insights Report, consumers are performing well one year since the pandemic began, and both severe delinquency rates and consumer credit balances remain low. These recent trends have been buoyed by government and lender programs which have provided the market with significant levels of liquidity. (read more)
by, Ignite Sales
Online Account Opening (OAO) has been increasingly important to banks as they transitioned to a more digital banking environment. Since Covid-19 has accelerated the move toward digital banking, effective OAO is now critical for a frictionless customer journey. However, there are challenges that prevent banks from achieving the optimal OAO performance, even using the best OAO applications available. (read more)
by, Brian Scott, Delivering Possibilities
The economy continues to show signs of recovery in the past month as travel and in-person event attendance have increased following the CDC’s updated guidance for fully vaccinated individuals. Consumer comfort levels, among several other economic factors, are driving a return to pre-pandemic levels as we explore in our June 2021 edition of the PSCU Payments Index. (read more)