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#2804: Why Technology Innovations Are Outpacing Fintech Regulations...

1/31/2022

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Michael Magrath Vice President, Global Regulations and Standards at OneSpan, joined us on the show to share recent findings from its 2nd annual ‘Global Financial Regulatory Report." One of the big findings Michael discussed showed how 48% of financial institutions report that regulatory compliance has slowed their digital transformations. The reason: Everything is moving so fast; it's hard for the regulators to keep pace with the rapid change.

Other key findings Michael shared include:

Why the US is trailing in data protection and digital identity standards
Why technology innovations such as AI, cryptocurrency, biometrics and blockchain, are outpacing Fintech regulations
Top compliance challenges for FIs include:
- reducing or preventing cyber-attacks (53%);
- safeguarding sensitive data (47%),
- keeping pace with changes in consumer privacy laws and industry regulations (41%)
84% of FIs are preparing for central bank digital currencies; however, banks in the U.S. are least likely to report taking any steps to prep for digital currencies
What FI’s can do to better protect their customers

Mcihael wrapped up our talk with the significance of the report’s findings and what can be done about this issue.

Check it out and let us know your thoughts. And be sure to watch the entire episode for all the details.

#2803: How to Grow Your Purchase Business in a Slowing Housing Market...

1/31/2022

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When it come to today's mortgage lending business, a lot has changed just in the last year. Getting out in front of your credit union's purchase business for the spring 2022 housing market is critical to do right now.

To get a jump on taking advantage of the upcoming home buying season, CU Members Mortgage is hosting an upcoming webinar, a kick off to its 2022 Education Series, entitled: "How to Grow Your Purchase Business in a Slowing Market." The webinar, presented by the driving force and coach behind many of the nation’s top-producing loan officers Ron Vaimberg, will take place February 17, 2022, 11:00 a.m. (PST).

If you want to seriously grow your purchase business in the coming months, check out what Ron will be covering:

Understand the truth about real estate agents
How to gain the attention of producing agents
5 steps to delivering the ultimate agent presentation
How to displace your competition and win business
And so much more…

Ron has delivered thousands of presentations and training sessions for mortgage companies, credit unions, banks, real estate franchises, industry associations, and private coaching clients throughout the United States and Canada.

Ron is often referred to as the “street trainer” in that his high-performance marketing, sales, and leadership strategies are easy to implement and produce tremendous returns rapidly. Ron’s focus is for his clients to remain true to who they are, and sell to their strengths. Visit www.RonVaimberg.com for more info.

Check it out and let us know your thoughts. And don't forget to register -- and watch the entire episode below for all the details.

#2802: How LAFCU Modernized Its Member Onboarding Experience via MDT Partnership...

1/27/2022

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Member Driven Technologies (MDT) Vice President of Marketing and Communications Carla Bettens and LAFCU Chief Marketing Officer Kelli Ellsworth-Etchison stopped by the show to share how LAFCU has modernized its member experience by leveraging MDT's digital onboarding technology.

Both Carla and Kelli talked about the how the MDT/LAFCU partnership works that ultimately helped create a more modern member onboarding experience through digital technology.

Kelli stepped back and discussed what was going on at LAFCU that prompted her credit union to look for a technology like MDT's -- and why they ultimately chose MDT.

Kelli and Carla also provided results-type data and anecdotes based on the technology's performance so far, as well as what’s next for their organizations -- as digital continues to dominate the financial services landscape.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

#2801: How COOPER Fraud Score Uses Machine Learning to Protect CUs and Members...

1/27/2022

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CO-OP Financial Services Product Management Director Patrice Alexander-Lee joined us on the show to share her insights on CO-OP's new “COOPER Fraud Score.”

Patrice, who is specifically responsible for CO-OP’s COOPER machine learning tools for fighting fraud, provided a quick overview on the COOPER Fraud Score, as well as explaining what machine learning brings to the fraud fighting effort.

In addition, she talked about how COOPER Fraud Score works with CO-OP’s team of human fraud consultants and analysts.

Patrice also describes “Reason Codes” -- a big part of what COOPER Fraud Score offers.

From the credit union's perspective, Patrice described the work during the beta testing period with WestStar Credit Union of Las Vegas.

Lastly, she addressed the balance between stopping fraud and ensuring a consistently smooth card-use experience for members.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

#2800: How No-Code Apps Make Your Staff's Day-to-Day Tasks Easier...

1/26/2022

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CU NextGen’s Vice President of Business Operations Hayley Harrison and VP of Technology Nicole Williams joined us on the show to share the efficiencies of No-Code pp development and MRM -- and how they make the day-to-day tasks for your staff easier.

Nicole and Hayley talked about what exactly are No-Code apps, how do they work and help solve today’s programming issues for credit unions, as well as their benefits to credit unions -- again, making those day-to-day tasks for credit union staff easier.

In addition, they shared a couple best practices from credit unions using No-Code apps. And for more information, check out the article on No-Code apps in CUinsight: “Crack the Code.”

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

<<Previous

#2804: Why Technology Innovations Are Outpacing Fintech Regulations...

#2803: How to Grow Your Purchase Business in a Slowing Housing Market...

#2802: How LAFCU Modernized Its Member Onboarding Experience via MDT Partnership...

#2801: How COOPER Fraud Score Uses Machine Learning to Protect CUs and Members...

#2800: How No-Code Apps Make Your Staff's Day-to-Day Tasks Easier...

Mike Lawson, Host

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