If you had a million dollars to spend on payments

Here’s what attendees of the CUES School of Payments would do.

by: Lisa Hochgraf

Here’s what attendees of the CUES School of Payments would do.

Terence Roche asked attendees of the CUES School of Payments last week in Chicago what they would do if they were given license to spend a million dollars on payments systems for their credit unions. Here’s what attendees told Roche, principal of Cornerstone Advisors, a CUES strategic partner based in Scottsdale, Ariz.

Targeted rewards. The team acknowledged these could be pricey, but thought that if there were really money to invest, this could be a very good way to go. Ideally, these would include loyalty options for people using CU services outside of payments as well.

Upgrade analytics capabilities. This would put the credit union in better stead to evaluate its current programs and decide on next steps.

Add self-service options. Attendees would add interactive teller machines, enhance mobile and add a system that would allow members to turn off (and on) their credit cards using their mobile devices.

What would you do if you had a million dollars to spend on payments?

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