June 13, 2024
AI, Virtual Cards, Embedded Lending Define This Week in B2B
B2B payments used to be defined by paper and processes. However, as the digitization of commercial payments continues, B2B payments are being defined by their workflows and data – both...
June 13, 2024
Utilities Employees Credit Union Selects Velera for Card Processing Services
Utilities Employees Credit Union (UECU) has selected Velera to provide debit and credit card processing services and support. Velera, which is a payments credit union service organization (CUSO) and integrated...
June 13, 2024
Embedded Finance and BaaS: From Marketing Buzz to Banking Bedrock
Embedded finance and banking-as-a-service (BaaS) are having their watershed moment. Banks and financial institutions (FIs) everywhere are increasingly integrating application programming interfaces (APIs) that unleash the power to manage our...
June 13, 2024
How Credit Unions Are Playing David Against Industry Goliaths
Regardless of a credit union’s size, members expect digital-first capabilities that can compete with what for-profit financial institutions (FIs) offer. While many CUs are rising to the innovation challenge, there...
June 13, 2024
Radar CEO Sees Geolocation Driving Future of Digital-Physical Commerce
As technology and the connected economy march onward, the boundary between the digital and physical worlds is becoming increasingly blurred. New opportunities are emerging — with geolocation technology at the...
June 13, 2024
Why This CTO Says the Bank of the Future Is...
Digital banks have long eschewed physical branches in favor of direct, digital customer engagement. Digital banking’s convenience has been a competitive advantage for challenger or neo banks, increasingly allowing their...
June 12, 2024
Synapse’s Specter of Commingled Funds Points to Issues in FinTech,...
If there’s a surety in FinTech, and particularly within banking as a service, it’s that there will be more regulations. It’s likely that there will be stricter governance and transparency...
June 12, 2024
New Zealand Probes Lack of Banking Competition
New Zealand is reportedly examining competition in the banking sector. As Reuters reported Wednesday (June 12), the decision to investigate the industry follows a draft report earlier this year which found that...
June 12, 2024
Digital Markets: Regulation or Innovation in Asia-Pacific?
By Stephen Crosswell1 Introduction Historians generally agree that the Industrial Revolution has been the single most important event in human history since the domestication of animals and plants. The...
With nearly half of CU executives saying a lack of resources prevent them from bringing innovations to market, CUs are stuck piloting the digital innovations their members crave — and are willing to switch FIs for. The rise of strategic mergers is a way that some CUs are exploring to pool resources, innovate and drive scale. Read more in the “Credit Union Tracker®,” a collaboration with PSCU.
To drive growth and reduce churn, credit unions should invest in digital solutions that improve user experience, offer robust security features, and provide convenient self-service options tailored to the preferences of Gen Z and millennial consumers. PYMNTS Intelligence’s latest 40-page report,“How CUs Can Drive Engagement with Self-Service Banking Innovation,” a collaboration with Velera (formerly PSCU/Co-op Solutions), examines why CUs need to up their self-service banking innovation.