TechSolutions4CUs

According to Jain, the primary challenges credit unions face with outdated loan origination systems boil down to three main issues:  Integration difficulties Member experience Cost  Older systems struggle to integrate with modern application program interfaces (APIs) and services like Plaid, fraud detection tools, and alternative data sources. This lack of integration slows down loan processing, i...

Exactly what is open banking? Is it just another pain in your regulatory butt? Is it an existential threat as you watch your precious data flow out the door to destinations you don’t control? Or is it a tremendous opportunity to provide your members with innovative new services that were simply impossible before? The answer, as you may have guessed, is all three. The good news is that the opportun...

If your credit union makes auto loans, do you offer a fully insured, residual-based, walk-away balloon loan? Do you even know what a fully insured, residual-based, walk-away balloon loan is? If you answered no to either question, this episode of TechSolutions4CUs is for you. In this episode, Auto Financial Group's President Tim Kelly explains: Why these loans offer your members the lowest pos...

It's easy to fool ourselves into thinking the whole world has gone digital. That means it's easy to lose sight of the tremendous impact check and document fraud can have on your credit union. The truth is, check fraud is on the rise. That means credit unions must be more vigilant than ever and deploy technology more wisely than ever to fight this seemingly never-ending battle. In this ep...

If you're trying to boost your GenAI smarts, this is a must-listen episode. First, host John San Filippo and Hapax's Kevin Green take a deep dive into the Hapax platform, a SaaS-based GenAI tool designed to organize any and all information your employees may need to do their jobs. Green claims this can save hours of research time per week per employee, compared to forcing your employees...

For at least a couple of decades, credit unions have been told about the treasure trove of data they’re sitting on. Yet, many still struggle with how to make that data actionable. Now there are more and more rumblings about mixing so-called alternative data into the recipe. That may seem a little scary to some. On a seemingly separate track, there’s never been more emphasis on financial inclusion...

It’s been estimated that as many as 30% of what appear to be standard retail member accounts are in fact small business accounts in disguise. That’s an amazing figure and it represents only portion of the potential small business opportunity that awaits savvy credit unions. It only makes sense that the more business services you provide, the more business members you can attract and, in turn, the...

Some are old enough to remember when a personalized banking experience was chatting with your favorite MSR as you deposited your paycheck every Friday afternoon. Today, fewer and fewer members are visiting a branch, instead opting for all-digital banking. So how do you create a personalized experience for those digital members? Amy McGraw, Tropical Financial Credit Union's Chief Experience Of...

Jack Henry recently published its sixth annual Strategy Benchmark, a survey of bank and credit union CEOs whose institutions run one of Jack Henry's core processing platforms. TechSolutions4CUs host John San Filippo had the opportunity to speak with Jack Henry's Senior Director of Corporate Strategy Lee Wetherington prior to publication of the Benchmark results to preview some of its fin...

In the early days of credit union marketing, it was all "spray and pray." Send the same message to everybody and hope for the best. Then we took a giant step forward with target marketing, which allows credit unions to segment their members into smaller groups, and thus target them with more relevant messages. However, in 2024, consumers expect every experience to be personalized. Some m...

If you look at the evolution of payments, it's always been about faster and cheaper. This past July, payments got a lot faster and a lot cheaper when the Fed introduced its FedNow instant payment service. Unlike Zelle, FedNow transactions settle instantly. And unlike RTP, the FedNow service is intended for institutions of all sizes, not just the mega banks. The question is: Where and how does...

Over the past three years, Reseda Group has established itself if the premier fintech investment CUSO. Reseda portfolio companies benefit not only from the financial resources the CUSO provides; they enjoy the invaluable experience of seeing their product tested and deployed at Michigan State Federal Credit Union. In this episode, host John San Filippo speaks with Sara Dolan, MSUFCU's CFO, an...

Growing your credit union has long been an exercise in thinking big. Offer as many products and services as possible. Get as big a charter as possible. Cast as wide a net as possible. Today, however, more and more credit unions are growing by thinking smaller, launching all-digital sub-brands targeted to very specific market segments. Our guest  today is Michael Duncan, CEO of digital banking prov...

Reseda Group is a wholly owned fintech investment CUSO of Michigan State Federal Credit Union. Reseda only invests in companies/products that are or will be deployed at the credit union. As such, companies that receive a Reseda investment get much more than money; they get the assurance that their solutions will be rigorously tested and implemented in a large, technologically sophisticated credit...

It's not every episode that TechSolutions4CUs gets to chat with someone from a community bank. However, our guest for this episode, Kim Capps of Southern Bank, is so excited about digital banking her her bank's online provider, Apiture, that she was happy to share her insights with our credit union listeners. Kim provides some tips and tricks for business banking, discusses digital banki...

The decision to subject your credit union to a core conversion is never an easy one. But sometimes that decision is made for you -- for example, when your core provider announces that the platform you're on is being sunsetted. It may be easier to just migrate to another core from the same provider. However, easier doesn't necessarily mean better. No matter what, your credit union will ha...

In this episode of TechSolutions4CUs, host John San Filippo talks with Gina Ramos, SVP and COO at $140 million Tulare County Federal Credit Union, about her credit union's journey to find and deploy a new core data processing platform. Topics include: Why Tulare County FCU decided to go shopping What the search process looked like Why the credit union ultimately chose Jack Henry's Symita...

In this episode of TechSolutions4CUs, host John San Filippo talks with credit union technology veteran KayCee Murray, SVP of Information Technology at Numerica Credit Union, about Numerica's journey to find and deploy a new digital banking platform. Topics include: Why Numerica decided to go shopping What the search process looked like Why Numerica ultimately chose Tyfone's nFinia platfo...

In early Q2 of 2023, Finopotamus will be launch it's official podcast, TechSolutions4CUs. It's a one-of-a-kind podcast for a one-of-a-kind industry. In this podcast preview, Finopotamus co-founder and TechSolutions4CUs host John San Filippo explains what the podcast is all about. He fills you in on: What makes TechSolutions4CUs different from every podcast in cyberspace, A profile of who...