In my thirty years of forming credit union collaborations, I have come to see common lessons, especially in multiply owned CUSOs providing one or more back office operational services. I examine twelve of those lessons in these types of CUSOs. (more…)
Save the date for NACUSO’s 2019 NACUSO Network Conference! Details will be available soon on our conference website at https://www.nacusonetwork.com to book hotel and for more information.
In the toughest competition to date, CU RateReset CEO Keith Kelly once again knocks it out of the park with his 7 minute presentation at the Next Big Idea Competition last week at the NACUSO Network Conference at the Disneyland Hotel.
Two years ago Keith won the competition with CU RateReset. This year he entered with Knocknock, a disruptive digital solution that provides bilateral interaction between the credit union and the member to deliver “just in time offers” based on real time triggers.
CU*Answers, a 100% credit union-owned cooperative CUSO, announced the introduction of Project Team Communication and Coordination Services, a new offering available to all credit unions designed to help busy project managers with the difficult task of project administration. The service, led by industry veteran Alycia Meyers, will assist credit unions in the organizational tracking of “where are we and what is next in delivering on the goals to complete and make projects successful.”
Meyers, in her roles as both Senior Technical Writer and Cross Team Project Communicator at CU*Answers, has been critical to the successful rollout of major projects at the CUSO, including the introduction of native bill pay and a navigation rehaul of CU*Answers’ CU*BASE® core platform, among others. Meyers explains her role as working alongside the project’s leader in a secondary leadership position, “I assist by building teams, leading weekly project meetings, reporting on decisions and action items from the meetings to both the team and stakeholders, and when requested also mapping out monthly responsibilities of team members.”
“CU*Answers specializes in adding shared team services to make things happen,” said Randy Karnes, CEO. “Alycia specializes in coordinating team communications and status updates so projects move fluidly towards their goals. I know this style of project coordination has made it easier for me to stay in the loop, adjust, and get excited about where we are going. I am sure she can do the same for credit unions with big ideas. I hope people will get involved and Alycia can go from improving projects just for us to improving the execution of our whole network as collaborative developers.”
Credit unions interested in learning more about the service and how it can improve their team execution and project vision can visit the CU*Answers Store for more information.
About CU*Answers, Inc.
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded 45+ years ago, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing over 1.9 million members and $19 billion in credit union assets. For more information, visit www.cuanswers.com.
Solution empowers members to personalize and secure payments across digital channels
PSCU, the nation’s premier payments credit union service organization (CUSO), has partnered with Ondot, the global leader in mobile payments services, to further enhance the credit union member experience through a comprehensive Alerts and Controls solution.
The best-in-class solution – which represents an evolution of PSCU’s current alerts offerings – can be fully integrated into credit unions’ mobile and online account management applications or delivered through PSCU’s digital experience platform. It uses advanced technology to offer alerts for account activity and spending limits, along with location-based controls for card usage.
“PSCU is committed to service excellence and focused on innovation. We continue to invest heavily in the digital channel in order to enhance offerings for our Owner credit unions, enable engaging member experiences and protect our Owners from fraud,” said Jeremiah Lotz, VP of Product Management at PSCU. “We are excited to now offer the most robust tool on the market to deliver on that commitment.”
PSCU made the decision to partner with Ondot due to the company’s track record for delivering the most innovative, user-friendly mobile card control solutions in the country, enabling credit unions of any size to compete with top-tier banks. Features include convenient access through the digital channels whereby members set their preferences directly within the credit union’s mobile or online banking site; real-time notifications delivered via text or email alerts and push notifications; and in-app review of transaction details by members prior to contacting a call center.
PSCU Owner credit unions choosing to implement the solution can expect to see lower fraud losses with card controls and real-time alerts which, on average, reduce the number of fraud attempts before action is taken from 2.87 to 1.05. Call volume to contact center representatives is typically reduced, and card usage and top-of-wallet movement is increased as a result of empowered and engaged members.
“Members of our Owner credit unions will now have the ability to easily transact with their card on and off, set spending limits, even create real-time alerts, all to ensure they can seamlessly manage their finances. This is one of the many exciting developments in our mobile solution that our Owners can expect to see in the coming months,” added Lotz.
PSCU’s Alerts and Controls solution includes a wide array of robust features including:
- Geolocation Enabled Alerts – Allow/disallow transactions located outside of the cardholder’s location
- Lock/Unlock Switch – Enable/disable individual cards for use
- Enable or Disable Transaction Types – Enable/disable card use for in-store, ATM and eCommerce transactions
- Enable or Disable Merchant Types – Enable/disable card use for department store, entertainment, travel and many other purchase environments
- Threshold Controls – Enable/disable specific transaction amount or set spending monthly limit
- Transaction Type Alerts – Receive notice of transaction types, e.g., in-store, ATM, eCommerce and merchant categories like gas station, restaurants and travel, as well as specific transaction volume
“Mobile card control services are no longer an option to remain competitive and provide the highest level of member experience,” said Vaduvur Bharghavan, CEO at Ondot. “We are excited to partner with a CUSO leveraging technology to ensure its Owner credit unions have the ability to deliver seamless and secure card management options to provide personalized and engaging card-based payment experiences.”
About Ondot Systems
Ondot Systems is the global leader in powering mobile payment services, serving over 3,000 financial institutions across four continents. The company’s real-time platform, built upon an API based services-oriented architecture, gives financial institutions a competitive edge by increasing mobile engagement and empowering their customers to personalize, manage and control how payments are made in today’s world of always-on digital commerce, resulting in higher usage of payment instruments while lowering fraud incidents. To learn how Ondot is shaping the future of payments, visit www.ondotsystems.com.
PSCU is the nation’s premier payments CUSO. Committed to service excellence and focused on innovation, PSCU offers a comprehensive, highly integrated suite of traditional and digital payments solutions for credit unions to optimize their member experience. Leveraging digital technology, PSCU supports the success of nearly 900 Owner credit unions representing over 20 million accounts through secure, best-in-class solutions including payment processing, risk management, analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms. Comprehensive, 24/7/365 member support is delivered by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. For more information, visit pscu.com.