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CUNA: User experience paramount for CU's in new payments era

Posted: Jul 19, 2016
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Author: Paul Castner

Tom Davis of CSCU Says Credit Unions Should Focus on Building a Better Mobile User Experience for Members

Consider this: Facebook is a $236 billion company, and it offers no original content. The rental website AirBnB is capitalized at $10 billion and doesn’t own an inch of real estate. Uber is worth $40 billion and doesn’t own a single vehicle. What these firms specialize in is user experience, and that is among the future strategic considerations credit unions should prioritize, said Tom Davis, senior vice president of Card Services for Credit Unions. Davis spoke Wednesday during the first day of the 2016 Credit Union National Association Payments Roundtable in Salt Lake City.

 

 

Why Card 'Fees' Is A 'Four-Letter Word'

Posted: Jul 19, 2016
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Author: Paul Castner

According to CSCU Sr. Portfolio Consultant, Dean Knudtson

Fees is not a four-letter word, according to one analyst, who says that’s just a fact credit unions are going to need to come to grips with as debit interchange—a big piece of CU non-interest income—is going away.“If you are not seeing 15% of your card revenue from fees, there is opportunity,” said Dean Knudtson, senior portfolio consultant at CSCU.

 

http://cutoday.ssd.thinkcreativeinternal.net/THE-boost/Why-Card-Fees-Is-A-Four-Letter-Word?


What Could Be ‘Unbundling’ CU Services?

Posted: Jul 19, 2016
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Author: Paul Castner

CSCU's Tom Davis Answers That Question for Credit Unions

Are consumers ready to “unbundle” their financial services relationships?  One analyst thinks so, and says the reason is not only the fintechs but a growing change in consumer behavior. CSCU Chief Technology Officer Tom Davis warned those attending the company’s Solutions 2016 annual conference that fintechs “are breaking your business into pieces." 

Mobile Payments Not Addressing ‘Pain Point’

Posted: Jul 19, 2016
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Author: Paul Castner

Bob Hackney, CSCU President, Featured in CU Today Article

Mobile payments adoption has gone slower than many expected, and a big reason is that digital wallets are not yet addressing a consumer pain point. CSCU President Bob Hackney emphasized that message during the opening session of the company’s Solutions 2016 annual conference and his POV was covered in this article in CU Today.
Posted: Jul 15, 2016
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Author: Paul Castner

CSCU's Barney Moore Interviewed With Other Industry Experts

Barney Moore , CSCU's Director of Portfolio Consulting Services, was quoted throughout a CU Magazine article on Creating a Winning Card Program. “Credit unions are well-known for their excellent customer service and connections with members." Moore thinks this can be a strong base for creating a card program that will excel and prepare a credit union for the future. 

 

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