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! We are excited to announce that our 2021 NACUSO Network Conference is scheduled to be at the Encore Resort in Las Vegas. We are already starting to plan for next year’s event and we look forward to seeing everyone in person. The beautiful Encore Resort is open and they have taken extra precautionary measures to make sure it’s safe for guests to enjoy their stay. Please save the dates of March 29-April 1 and check our conference site soon for more details at www.NACUSONetwork.com.
If you were registered to attend, or sponsor at our 2020 conference in Orlando, we can automatically apply your registration or sponsorship fees to our 2021 Conference in Las Vegas. We will contact you soon to give instructions on the next steps and will work with you on the new options that work best for you. If you have any questions, please contact Shawna Luna at Shawna@nacuso.org.
Unfortunately due to the events surrounding the coronavirus, the 2020 NACUSO Network Conference, originally scheduled in April has been canceled. As we all navigate the ever-changing reality of our day to day work and personal lives, our first thought is for the safety and well-being of our members, partners, staff and conference participants. We will be sending information soon with information to all conference participants with updated information and options regarding the next steps. More details as they become available will be on our conference website at https://www.nacusonetwork.com.… Read more
The 7th annual Next Big Idea winner is Zogo Finance. Bolun Li, Founder of Zogo began his presentation by asking the attendees to raise their hand if they had teenagers, now or in the past. And then he did an amazing job explaining to a room full of parents how his product can both educate and motivate teenagers. A daunting task to be sure. Zogo received 55% of the audience’s votes to claim the victory. Click here for photos and to watch his post-victory interview with Mike Lawson, CUbroadcast.
Click here to see photos and read about who the winners of this year’s CUSO of the Year and New CUSO of the Year Awards were.
PSCU, the nation’s premier payments credit union service organization, has updated its weekly transaction analysis from its Owner credit union members on a same-store basis to identify the impact of COVID-19 on consumer spending and shopping trends. An infographic is also attached.
To provide relevant updates on market performance, experts from PSCU’s Advisors Plus and Data & Analytics teams today released year-over-year weekly performance data trends. In this week’s installment, PSCU compares the 46th week of the year (the week ending November 15, 2020 compared to the week ending November 17, 2019).
- Card payment volume growth rates continued to show overall strength in Week 46, with debit rising slightly and credit showing continued positive year-over-year growth.
- Debit card spend continues to grow at twice the normal rate from past years and is impressive, given the rise in COVID-19 cases. For last week, debit purchases were up 16.6%, in line with the four-week average of +16.6%.
VentureTech participants select Breach Clarity platform as Best in Show
Credit union industry investors chose San Francisco-based fintech startup Breach Clarity as the winner of this year’s VentureTech event. The nod signifies investor belief in Breach Clarity’s novel approach to empowering consumers with hyper-personalized intelligence in the face of massive data theft. It also indicates credit union industry readiness to integrate self-service digital tools to help members navigate the often muddywaters of data breach risk.
Breach Clarity’s proprietary algorithm analyzes more t,300 factors associated with a data breach to evaluate the risks of a specific breach, and each victim’s unique risk profile based on their cumulative data breach history. The algorithm also generates a Breach Clarity risk score, the Richter Scale of data breaches. Its product for the financial services marketplace, Breach Clarity Premium, integrates seamlessly with a credit union’s online and mobile banking channels, making it easy for members to engage with a series of personalized risk analysis tools.
Of the Breach Clarity platform, Jeffrey Staw, chief innovation officer of Open Technology Solutions, said, “This is an entirely new concept that offers the promise to protect credit union members against other organizations’ data breaches. A big congratulations to Breach Clarity!”