Credit Unions Turn to Tech, Education to Blunt Real-Time Payment Fraud

Real-Time Payments Tracker® - August 2021

As credit unions embrace real-time payments as a way to compete with their digital-first rivals, they’re also encountering new security challenges. In this month’s Real-Time Payments Tracker, a PYMNTS and The Clearing House collaboration, Brett Engstrom, chief information officer of Iowa-based Veridian Credit Union, spoke about preventing potential fraud risks in real-time payments and the value of rigorous employee and member education.

Inside the August Tracker

An interview with Brett Engstrom, chief information officer of Iowa-based Veridian Credit Union, about the benefits and challenges of real-time payments for financial institutions
The latest real-time payments developments, including why different FIs see disparate levels of real-time payments adoption and why banks and credit unions must implement real-time payments to compete with FinTechs and other digital-native financial services providers
A Deep Dive analyzing consumers’ and businesses’ growing demands for real-time payments, the variable adoption of real-time payments among FIs and why those lagging in offering these payments could risk losing out to FinTechs