Gemineye (formerly The Knowlton Group) has partnered with Databricks, the world’s leading data and AI company. Gemineye’s innovative data analytics architecture, called the Gemineye Data Lakehouse, is run entirely on the Databricks Data Intelligence Platform and brings this best-in-class data analytics technology straight to credit unions and community banks. Gemineye believes that a data analytics solution should be accessible to all credit unions and community banks. Partnering with Databricks allows Gemineye to provide an efficient, leading-edge, flexible, and low-cost single-stop shop for financial institutions. When credit unions and community banks have better access to data analytics, they can better personalize products and services to their members, which promotes retention and acquisition, which spreads more good in the communities they serve. It’s a win-win-win. Databricks represents a pivotal cornerstone for innovation and excellence,” says Brewster Knowlton, CEO of Gemineye. “At Gemineye, our commitment to revolutionizing the credit union and community banking industries has led us to fully integrate the Databricks Data Intelligence Platform into our operations. This collaboration allows us to offer a state-of-the-art, scalable, and cost-effective solution that spans from general business intelligence and data warehousing to the forefront of advanced data science and AI technologies to financial institutions of any asset size. We firmly believe that Databricks is shaping the future of data analytics, and we are honored to partner in this journey together." By creating an environment where all Gemineye’s systems run through Databricks, the Gemineye Data Lakehouse has one gear in motion. In your standard data analytics program, multiple gears (various services, separation of database, compute, storage, and ingestion – often using legacy on-premises technology) are in motion, creating exponential inefficiencies in time, labor, and cost. The team at Gemineye is thrilled that Databricks has recognized their commitment to making data analytics more accessible. To learn more about Gemineye’s revolutionary data analytics product, contact sales@gemineye.com.
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Chimney, a leader in financial guidance for the digital age, announced the addition of 14 new credit unions to its growing client roster in the last several months. With Chimney’s interactive financial tools, these credit unions can deploy personalized digital experiences that generate deposits, loans and drive new member acquisition. The newest credit unions to partner with Chimney include:
Using Chimney’s embedded financial tools, credit unions can engage more members digitally, generate low-cost deposits, and fund more loans with intelligent recommendations that guide members to the right products. The company’s solutions, which include its award-winning financial calculators, help credit unions deepen member relationships and capture more data to drive meaningful conversions. Chimney’s newest clients also gain early access to the fintech’s latest product, Chimney Home, which is designed to elevate the online banking experience for homeowners by giving them the tools, data, and insights they need to manage their biggest investment. “The Federal Reserve raised interest rates several times over the last 12 months, which has prompted more consumers to search for the products with the best returns. Searches for terms like ‘savings accounts’ and ‘CD rates’ have peaked higher than they’ve been in five years, according to Google Trends data,” said Matthew Covi, co-founder and CEO of Chimney. “Our team is proud to give our credit union clients a suite of interactive digital tools to help members find the right product for their needs and take the first step towards opening a new account. This year, Chimney’s tools have driven over 75,000 consumers to loan and deposit account applications. Members receive a superior digital experience that’s personalized for them, and credit unions benefit from steady deposit growth at a critical time, ensuring these valuable institutions can continue serving their local communities long term.” Neural Payments, a fintech company offering credit unions a new payments engine created to move money across traditional rails, was awarded with the America’s Credit Union’s Technology Council’s Best of Show Award at the 2024 Governmental Affairs Conference (GAC). “Neural Payments is an innovative solution that shifts the traditional person to person (P2P) model to be sender driven by eliminating the need to coordinate applications with the receiver. This mean that consumers receiving a payment from your credit union member can choose where they want funds to go without downloading another app” said Jim Phillips, EVP/Chief Information Officer, SchoolsFirst Federal Credit Union, and Technology Council Executive Committee member and Conference Committee Chair. “For financial institutions, the solution is fully integrated into the credit union online and mobile applications and allows institutions the ability to customize eligibility requirements, marketing messages and offers. Creative payment products can drive adoption, increase engagement and improve the user experience,” he added. “At a time when consumer use of real time payment products is increasing, ease of use and reducing provider costs makes Neural Payments a standout solution that is good for Members and credit unions nationwide.” “We are honored to be selected ‘Best of Show’ by Councils, and to be acknowledged by the innovative credit unions represented on the judging panel. By making person-to-person payments simple, custom and integrated credit unions can improve their member experience and satisfaction while reducing costs of the service” said Mick Oppy, Neural Payments Co-founder and CEO. Origence, the leading lending technology solutions provider for credit unions, announces breakout sessions for its Lending Tech Live ’24 conference, scheduled June 25-27, 2024, at the Marriot Marquis in San Diego, California. This announcement follows the news of Lisa Bodell, Kevin Surace, and Andrew Busch as keynote speakers. Lending Tech Live ’24 is the premier lending technology conference in the credit union industry. Thought leaders from hundreds of credit unions across the country, along with auto dealers, fintech executives, and technology providers, attend. The conference provides insight into the latest strategies to build stronger, more profitable lending portfolios and to reach more members. This year’s tracks will focus on auto lending trends, evolving EV buying and lending, AI strategies and trends, growth, compliance, and the lending landscape. Attendees can attend the following breakout sessions:
“We’re celebrating our 30th anniversary in a big way, including impactful breakout sessions that will equip attendees with relevant lending insights and strategies to maximize performance, effectively compete, and deliver value,” said Erika Hill, Origence’s VP of marketing. “Lending Tech Live has created an environment for industry-wide collaboration and meaningful dialogue. We look forward to yet another successful year of helping credit unions prepare for the future of lending.” Lending Tech Live ’24 will also include interactive workshops to improve their lending program, build borrower journeys that enhance member relationships, and highlight crucial regulations for 2024, along with other key discussions. Attendees will learn about the state-of-the-art tools and technologies shaping the lending landscape, lending strategies, emerging trends, research, and more. To learn more about the conference, visit the Lending Tech Live website. Darlene Dumont, Ph.D., LSSBB was recently welcomed to the expanding, best-in-class team of professionals at DDJ Myers, the well-known leadership development firm and ALM First Company. She will serve as Director, Organizational Development and brings over 30 years of diversified experience in the highly specialized areas of organizational transformation, executive coaching, succession planning, human-centered design, strategic workforce analysis, organizational design, operational efficiency, continuous improvement, and innovation. “I’m looking forward to working with boards of directors, CEOs and other key leaders to increase the effectiveness of their teams, committees, and organizations overall,” says Dumont. “By establishing tiered management systems and infrastructures to align the organization’s vision, mission, and values with strategic goals, institutions become poised to achieve better results.” Dumont has in-depth experience in a variety of industries including credit unions, financial institutions, healthcare, insurance, manufacturing, federal, state and military agencies. She is a retired Captain of the U.S. Air Force/Air National Guard, a Board member of the Continuous Improvement Lean Collaborative (CILC), and a Lean sensei/faculty member of the Lean Enterprise Institute (LEI). As a life-long learner, Dumont has earned a Doctorate in Business Administration and Quality Systems, a master’s degree in Management Information Systems, a master’s degree in Quality Systems Management, and a dual-major bachelor’s degree in Accounting and Economics. She is also certified in Organizational Design and has a Lean Six Sigma Black Belt. “Adding a highly educated expert like Darlene to the DDJ Myers team will allow us to make an even bigger impact within the industry and assist more clients,” says Deedee Myers, Ph.D. and CEO of DDJ Myers, an ALM First Company. “The need for enhanced organizational design solutions and continuous process improvement has grown exponentially in recent years. Forward-thinking financial institutions see both as critical to their future sustainability.” The speaker agenda has expanded with two new noteworthy keynote presenters for THINK 24 from PSCU/Co-op Solutions, the nation’s premier payments and credit union service organization (CUSO) and an integrated financial technology solutions provider. The talented additions deliver on the promise of this year’s THINK 24 theme, “Experience is Everything.” Throughout the May 7-10 event in Nashville, THINK host and personal finance journalist Jean Chatzky will welcome tech innovation thought leader David Mattin and organizational growth expert Peter Sheahan to the main stage. “What an honor to host these two esteemed speakers at THINK 24,” said PSCU/Co-op Solutions EVP, Chief Service Officer Dean Young. “Credit union executives are facing immense pressures today, and these experts on creative perseverance are sure to inspire a sense of renewal and an even greater commitment to our movement.” Mattin and Sheahan Join THINK 24 Keynote Roster David Mattin writes about the technology trends, ideas, innovations and people set to reshape the future. He works with leading organizations to orient their innovation around the trends and futures scenarios that matter. Mattin’s work has appeared in The Times, Google Think Quarterly and BBC. Peter Sheahan is a relentless pursuer of growth who has helped accelerate transformation for clients like Apple, Chick-fil-A, DeBeers and AT&T. He has related his experience in seven books and over 2,500 presentations in more than 40 countries. The latest additions to the THINK 24 keynote line-up follow the previous announcement of Nikkia Reveillac (Netflix), Tiffani Bova (Salesforce) and Jamie Siminoff (Ring, Latch). In addition to mainstage keynote and panel presentations, breakout sessions and 1:1 Advisor Sessions, attendees will get a first complete look at PSCU/Co-op Solutions’ 2024 Credit Union Growth Outlook research. Charitable activities benefiting the Children’s Miracle Network Hospitals kick off the event on May 7. THINK attendees can choose between a tour of Nashville’s Country Music Hall of Fame, Ryman Auditorium and Johnny Cash Museum, or a visit to one of the world’s preeminent listening rooms. The conference’s closing celebration party on May 9 will feature a live performance by a CMA Award-winning recording artist. Registration for the THINK 24 conference is now open for credit union attendees. For more information or to register, visit co-opthink.org. Payments solution provider and innovator Neural Payments has announced a partnership with Lumin Digital (Lumin), which will allow Neural Payments to integrate its white-label peer-to-peer (P2P) payments platform and forthcoming solutions within Lumin’s cloud-based platform. This partnership will allow Lumin’s financial institution clients to offer a branded and seamless payments experience directly within their own app and website. The move opens Neural Payments to more than 50 live financial institutions and more than 4 million users leveraging Lumin’s digital banking solution nationwide. Financial institutions using the Lumin platform can partner with Neural Payments to provide an integrated P2P within digital banking. Unlike other, third-party P2P solutions, Neural Payments’ P2P allows users to transfer funds with people using different platforms, even those whose financial institutions don’t use Neural Payments. This gives users greater flexibility, security and ease of use, while Lumin financial institutions will claim opportunities to deepen relationships, grow their consumer base, reduce costs, and reclaim deposits lost to third-party P2P providers. “Our partnership with Lumin is a win-win-win,” said Mick Oppy, co-founder and CEO of Neural Payments. “In addition to earning the confidence and business of another digital banking partner for Neural Payments, Lumin will be able to offer additional features and tools for their financial institution clients. Consumers also win with a vastly easier, more convenient and secure P2P solution.” As Neural Payments continues to innovate in the small-to-medium business space, Lumin’s clients will also be ready to offer those additional solutions, including disbursements for small to medium businesses as well as account funding. "Implementing this solution offers community financial institutions an additional P2P option for a fully streamlined experience and seamless transaction processing," said Sean Weadock, chief product officer at Lumin Digital. Diana Dykstra, president/CEO of the California and Nevada Credit Union Leagues, was recognized with the 2024 Eugene H. Farley League Leadership Award by the American Association of Credit Union Leagues (AACUL) on Saturday evening. This prestigious award honors a credit union league/association president who has demonstrated visionary leadership at the state and national levels. This includes delivering superior results organizationally and financially, developing services and programs for credit unions, and focusing on cooperation within the credit union system. It also represents personal values and commitment to purpose and integrity, as well as exhibiting substantial participation as a leader and cooperator. “I am deeply honored for everything the Eugene H. Farley League Leadership Award represents,” Dykstra said afterward. “There are many individuals in our movement who have paved the way up to this moment through their diligence, sacrifice, and commitment to our industry. I am grateful I’ve been afforded the opportunity to be part of it, and I look forward to seeing other league/association leaders do their part to strengthen our credit unions and our shared future.” The credit union movement has benefited from Dykstra’s leadership for 42 years. For the past 14 years, she has served as the president/CEO of the California and Nevada Credit Union Leagues. Prior to her tenure there, she served as CEO of San Francisco Fire CU, CEO of CoastHills FCU, senior vice president for Patelco CU, and senior vice president for Golden 1 CU. “Throughout her years of service to the Leagues and credit unions, Diana has championed collaboration. The examples of her dedication to cooperative efforts are seemingly endless,” shared AACUL President Brad Miller. “Whether it be her service as AACUL Chair, WOCCU Chair, her leadership on many other industry boards, her dedication to DEI initiatives, her energy for Children’s Miracle Network Hospitals and Credit Unions for Kids, or her devotion to advancing financial well-being and literacy initiatives through the RMJ Foundation, Diana leads collaboratively, boldly, encouragingly, and with a heart for serving others.” AACUL Chair and CrossState Credit Union Association President/CEO Patrick Conway praised Dykstra, “Diana is an inspiration. She firmly believes that credit unions’ success is intertwined with the well-being of society at large. Through her passion for innovation and cooperation, she encourages leaders around her to think outside ourselves and focus on the importance of serving the entire credit union movement.” Financial Plus Credit Union, a forward-thinking institution committed to exceptional member service, is excited to announce that they have selected Vertice AI as a strategic partner in a new member growth initiative. This collaboration is facilitated through The Lab at Filene Research Institute, a platform dedicated to testing and implementing innovative solutions within the credit union movement. This partnership aims to address the continuous challenge of deepening engagement with indirect members, those who primarily interact with credit unions through external lending channels such as auto dealerships. Financial Plus Credit Union and Vertice AI will leverage advanced analytics to explore and develop new strategies for engaging these members more effectively. Jessica McNier, Vice President of Member Experience at Financial Plus Credit Union, expressed enthusiasm for the initiative: "Our collaboration with Vertice AI through The Lab at Filene represents a significant step forward in our ongoing effort to enhance the financial journey of all our members, especially those we engage with indirectly. We're excited about the potential of this partnership to uncover innovative, data-driven approaches to member relationship building." The Lab at Filene Research Institute serves as an incubator for testing new tools, products, and strategic solutions with the potential to enhance the impact and growth of credit unions. This collaborative effort between multiple credit unions, including Financial Plus, and Vertice AI in the Lab is a testament to the innovative spirit of the credit union community and its dedication to improving member experiences through actionable research and practical solutions. Mitch Rutledge, CEO of Vertice AI, also commented on the partnership: "We're honored to be chosen by Financial Plus Credit Union for this important project. Our work together in The Lab signifies a shared commitment to leveraging technology and analytics in service of the credit union movement. We look forward to the insights and strategies that will emerge from this collaboration, helping to drive member growth and engagement." TransUnion (NYSE: TRU) introduced today OneTru™, its new solution enablement platform for managing, governing, analyzing and delivering data and insights. The OneTru platform connects separate data and analytic assets built for credit risk, marketing and fraud prevention and concentrates them in a single, layered and unified environment that sits at the core of the business. This unified approach allows TransUnion to deliver a more accurate, complete and compliant picture of consumers, no matter the use case. OneTru seamlessly integrates previously siloed platforms and analytics functionality. In this age of increasing data volume, variety and velocity, and escalating regulatory and privacy concerns, OneTru delivers more persistent identity resolution with sharper, more contextualized insights, while helping to ensure compliant data usage. “Fragmented data sources and disconnected business applications can compromise access to analytic capabilities and increase time to insights. TransUnion has brought together the complementary assets we have built and acquired in recent years to streamline data access and maximize the speed and quality of analytics and the decisions they drive,” said Chris Cartwright, President and CEO, TransUnion. “OneTru is increasing the pace and breadth of our innovation and enabling the next generation of insight-driven solutions for fraud, risk and marketing, while helping our customers more quickly adapt to changing regulations.” OneTru consists of four key layers, each playing a critical role in driving innovation and scale in TransUnion’s solutions:
Built on top of TransUnion’s foundational hybrid-cloud infrastructure, and leveraging technology architecture, frameworks and IP from Neustar (a company acquired in December 2021), the platform will enable the company and its clients to capitalize on AI and ML technologies to solve for complex data issues. “OneTru’s AI and ML driven knowledge graph capabilities will help our clients break down data silos and learn from the wealth of information available in our emerging digital world,” said Venkat Achanta, Chief Technology, Data and Analytics Officer, TransUnion. “This will allow our clients to move beyond traditional identity graphs that are limited to explicit data and deterministic linking. Our customers will have access to knowledge graphs that retrieve information from a much broader field and will be empowered to make logical inferences from linked, unstructured and structured data, thus providing additional meaning and context.” For instance, OneTru’s AI capabilities will enable graphs that improve identity resolution for fraud use cases by linking structured data like traditional offline identities and unstructured data, like behavioral information, device properties and more. As a result, TransUnion customers will identify fraudsters at a higher rate while minimizing false positives and friction. The platform also allows for easy data collaboration between TransUnion solutions and customer data, while maintaining strict user-based permissions and access controls. For example, in marketing applications, TransUnion customers will be able to compliantly combine graphs to integrate and harmonize disparate information from many sources. OneTru will also make it easier to interact with analytical systems using natural language-based queries and commands. “OneTru will make the job of gathering insights easier and more intuitive,” said Achanta. “Analysts will be able to ask questions they could not in the past, like ’which assets should I look at to build a certain type of model?’ Or, ‘I have a specific budget in mind, what can I do with it?’ With OneTru powering the solutions we deliver to our customers, technology will no longer be an obstacle to making massive quantities of data meaningful, but instead the enabler it is meant to be.” OneTru Powering TransUnion Solutions By concentrating its world-class capabilities and building better toolkits to leverage them, the company will more quickly develop and deploy innovative new products, improving speed to market and competitive advantage, all while reducing technology sprawl and total cost of ownership. “The beauty of TransUnion’s business is that many of the same capabilities can be used across the data analytics value chain, regardless of data set or use case,” said Tim Martin, Chief Solutions Officer, TransUnion. “OneTru provides us with a global chassis upon which we will deploy products and share expertise across the world in a cost-effective and compliant way. It is a game-changer for our customers and for the industry.” Over the next two years, TransUnion will continue to build out the OneTru platform and its associated capabilities while further consolidating its products, data, and analytics onto the platform, and will be re-introducing OneTru-enabled solutions, or launching new ones. To learn more about OneTru, please click here. More information about TransUnion’s business solutions can be found here. |
Author: Mike LawsonMarried to a most gorgeous and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple. Archives
March 2024
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