Thank you for tuning in to episode 40 of The CUInsight Network, with your host, Lauren Culp, Publisher & CEO of CUInsight.com. In The CUInsight Network, we take a deeper dive with the thought leaders who support the credit union community. We discuss issues and challenges facing credit unions and identify best practices to learn and grow together.
My guest today is Mark Majeske, SVP of Faster Payments at Alacriti. The team at Alacriti helps credit unions identify needs of the market, so they can stay on the edge of innovation and time their actions right for members. Credit unions large and small, can participate and compete in the marketplace, especially faster payments. Alacriti partners with credit unions to not only assess market needs but also bring connectivity to various payment rails as well.
In this conversation, Mark and I discuss the hurdles of faster payments and the new expectations it creates in business. He discusses the ease of integration and implementation of a new payment rail into a current core system. Mark talks about payment rail options, and the importance of understanding what members want when it comes to those options to create an easy experience for all. Mark discusses factors that need to be considered when it comes to fraud, along with a hybrid system to protect faster payments against fraud.
Tune in to hear what new trends are expected to emerge in financial services as well as what’s in store for the future at Alacriti. He emphasizes the importance of member centric applications and cryptocurrency. Ultimately, Alacriti is a partner for credit unions that gives members the experience they want and expect.
As we wrap up the episode, Mark talks about his favorite music from the 70s & 80s, how he defines success, and what he enjoys doing at his lake house. Enjoy my conversation with Mark Majeske!
Show notes from this episode:
What an amazing interview with Mark! Check out all the exceptional work his team is doing over at Alacriti here.
Want to hear more from Mark Majeske? Click here.
Shout-out: The Clearinghouse RTP
Shout-out: Richard Branson
Artist mentioned: Mozart
Artist mentioned: Talking Heads
Artist mentioned: Queen
Artist mentioned: Fleetwood Mac
Artist mentioned: Elton John
Artist mentioned: The Beatles
Book mentioned: What Color Is Your Parachute? by Richard Nelson Bolles
In this episode:
[00:44] – Mark Majeske says he originally wanted to be a psychologist.
[02:28] – What does Alacriti do for credit unions?
[03:50] – Faster payment service builds the new expectation of business.
[06:31] – Mark shares about payment rail options.
[08:05] – What are Mark’s thoughts on addressing fraud? He talks about offering a hybrid service in the finance industry.
[09:52] – We’re going to see more member-centric applications, crypto, and other future trends.
[12:34] – Mark brought a new car after driving the same one for 19 years.
[14:35] – Mark recommends this book for people starting their career.
[16:26] – Feel free to utilize fintech partners.