In response to the unprecedented COVID-19 pandemic and subsequent CARES Act, the rate of adoption and utilization of digital lending technology on behalf of borrowers and lenders has increased dramatically. Look no further than the [...]
On March 26, 2020, the five primary federal financial regulators issued a joint statement encouraging banks, savings associations and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19. [...]
Is your credit union offering only static, one-size-fits-all overdraft limits? Giving every member the same overdraft limit means you’re working with an UNMANAGED program and limiting your ability to manage charge offs and address [...]
If your credit union is using only traditional underwriting methods, chances are that you’re limiting your lending potential. The use of alternative data in underwriting opens credit avenues for members and small businesses that [...]
Financial technology, or fintech, is one of the fastest-growing industries in the world, forever transforming the way consumers interact with their credit unions. Thanks to the explosion of apps and online solutions these tech firms [...]
According to leading economic indicators in June 2019, the US economy is doing well. It has steady growth, low unemployment, and little inflation¹. In fact, June marks the 10th straight year of a growing economy², [...]
Despite a record-low 3.8 percent unemployment rate, American consumers still have difficulty meeting immediate and emergency living expenses. The demand for short-term liquidity is, in fact, staggering with 78 percent of consumers living paycheck [...]
It’s no secret that Big Data is more than just a buzzword these days. According to Jim Marous, CEO and Editor of The Financial Brand, customer data is the driving force behind almost every [...]
The need for financial institutions to adopt digital lending technology, especially for consumer and small- to medium-size business loans, has been well-documented in recent years. The threat to financial institutions from non-bank digital lenders is [...]
Spaces are limited—but still available—for Velocity Solutions Executive Summit, February 5, 2019 in Ft. Lauderdale, FL. Free to qualified attendees. There’s no question about it: data and digitization are key to your [...]
This article is the second in a two-part series that focuses on the importance of member data and how credit unions can capitalize on it to improve account opening procedures and overall institution performance. It [...]
In today’s highly competitive environment, credit unions cannot rely solely on growing new account openings to stay ahead of the competition. The truth is, community institutions are extremely adept at retaining members once they [...]
The trend toward digitizing business operations to eliminate labor-intensive and time-consuming paper processes is more than just a passing fad. It has, in fact, grown into a revolution with wide-ranging adoption of innovative digital technologies [...]
The Industry’s Most In-Demand Event for Credit Union Executives! February 5, 2019 – Sonesta Fort Lauderdale Beach Digital solutions. Big Data. Technology. Automation. Machine-led intelligence. There’s no question about it: data and digitization are [...]
It’s a disconcerting, but true, fact: when members of your credit union use your debit card and their transactions fail, they blame you. Consider the negative buying experience below, which I suspect is an [...]
