2018 credit union technology trends
2018 Credit Union Technology Trends It’s hard to believe that 2018 is upon us. Each December, I like to meditate on the upcoming year’s Credit Union technology trends. One of the things that [...]
Ongoing Operations, LLC News Archives
Credit union cybersecurity 101: JUST PATCH YOUR DAMN STUFF
Major cybersecurity hacks are all too common, which is why I feel compelled yell as loudly as I can to Credit Union CEOs, “Patch! Patch again, and patch some more!” There are 6000 Credit Unions [...]
When should you fire a consultant?
Last month, I wrote an article about when to hire a consultant. There’s no doubt that bringing on a consultant is a big decision, but knowing when to fire one can be even more [...]
When should a credit union hire a consultant?
Credit Unions love investing in their people, but that doesn’t stop them from hiring consultants. Lots of consultants. Consultants can be great, and sometimes, they can prove not so great. With ever increasing threats [...]
How will autonomous vehicles impact your credit union?
Few would claim that they could have predicted the impact a technology company (Uber) would have on credit union balance sheets. If you envisioned this future – well played! For the rest of us, it was [...]
What can credit unions learn from Amazon’s acquisition of Whole Foods?
Whole foods has scale. In fact, they have 1.7% of the US market (according to Statista). Given that credit unions account for approximately 7-8% of the US market, Whole Foods is kind of like [...]
If I was running a credit union: The insider/outsider perspective
Do you ever have members who apply for loans that aren’t right for them, or who make financial mistakes that you has a banker would easily avoid? Or maybe you have a friend who [...]
Is a managed SIEM right for you?
There are three types of SIEM (security information and event management) deployments: managed, co-managed, and DIY. Deploying a fully managed SIEM means you have a trained and skilled team of off-site security analysts overseeing the [...]
How much will a data breach cost your credit union?
One of the scariest things to any credit union board, CEO, or CIO is the prospect of your members’ data being hacked. Seeing yourself on the front page of your local newspaper or television station [...]
Credit union technology trends for 2017
Each year, I take time to reflect on the changes that will be impacting our industry in the upcoming year. Aside from the usual regulatory challenges and never ending stream of Fintech startups, I wouldn’[...]
If you could track member data like cash in a branch, would you?
In every credit union I have worked in, the credit union knows where every ounce of cash is at all times. We know which drawers have it, which tellers, which locations and which vaults. It [...]
Merger or consolidation: Which strategy is right for your credit union?
Throughout my 20+ years in the credit union industry, I have heard many credit unions discuss developing a “merger” strategy. In reality, the majority of credit unions only consider consolidation strategies and, consequently, many of [...]
It’s Cyber Security Awareness Month. Do you know what data is leaving your credit union?
Did you know that it’s National Cyber Security Awareness Month (NCSAM)? This year Ongoing Operations has become a Champion of NCSAM, joining a growing global effort among businesses, government agencies, colleges and universities, associations, [...]
Another fintech startup, Point, looks to disrupt traditional mortgage concepts
Fintech startups are continuing to come at a furious pace. These days, it seems like nearly all innovation is occurring outside of the industry and causing a thousand small cuts on the highly regulated credit [...]
What is a SIEM and does my credit union need one?
With the ever increasing threat of a cyber security issue impacting your credit union and the ever increasing regulation – SIEM (Security Incident Event Management) is a real opportunity for credit unions to elevate their cyber [...]