October 12, 2020
Central Banks Say Digital Fiat To Complement, Not Replace Cash
The idea that digital fiat will replace coins and bills may be conventional wisdom. But there’s room for co-existence of cash and digital currencies. The recently released report by the Bank...
October 12, 2020
What The Great Time Revolution Means For Consumers
The “Mighty Thor” was a household game-changer in 1908. Invented by Alva John Fisher, Thor was the first electric washing machine to be mass-produced and sold. Until its debut, washing...
October 12, 2020
China Trials Digital Yuan By Giving Away $1.5M
China’s central bank is issuing 10 million yuan ($1.5 million) worth of digital currency to 50,000 people chosen by lottery in the country’s first trial run of a cashless payments system,...
October 12, 2020
FedNow’s Montgomery: Gearing Up For 2023-24 — And Instant Payments...
There is no dearth of faster payments initiatives — and no certainty that there will be one faster payments scheme to rule them all. In an interview with Karen Webster,...
October 11, 2020
Santander Adds Three Lending Executives
Santander Bank has announced three high-level appointments, two overseeing lending operations and another overseeing marketing, according to a press release. Patrick Smith was named head of Small Business Banking. Smith...
October 11, 2020
Selerix, Paycor Debut API Integration
Cloud-based employment benefits provider Selerix Systems is working with Paycor, a provider of human capital management (HCM) solutions, to debut a new, real-time application programming interface (API) integration system, according...
October 11, 2020
Paynetics Agrees To Acquire Some Wirecard UK, Ireland Assets
Bulgaria’s Paynetics said it has agreed to acquire “some of” the England and Ireland assets of disgraced Wirecard, according to an announcement on its website. “The deal will see Paynetics...
October 09, 2020
Restaurants, Cybersecurity And Government Stimulus Top This Week’s News
It’s the end of another work week, and the PYMNTS Weekender is here to catch you up on the latest news. We have deep dives on quick-service restaurants (QSRs), cybersecurity...
October 09, 2020
Today In Payments: Central Banks Frame Criteria For Digital Currency;...
In today’s top news, the Federal Reserve and seven central banks are collaborating on a framework for digital currency, and Amazon India prepares for its festive season with a $95.5...
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.