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#2366: NAFCU's Hunt Shares Latest on Coronavirus Relief Package and NDAA Veto Override...

12/29/2020

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Watch the 3:40 clip above and/or check out the entire episode below the show notes.

There is a lot going on in our nation's capital this final week of 2020, so we turned to the experts at NAFCU to share the latest on the coronavirus relief package, NDAA veto override, and much, much more -- and what it all means for credit unions and their members.

To get this inside perspective, we invited NAFCU’s EVP of Government Affairs/General Counsel Carrie Hunt to discuss the latest on the coronavirus relief bill and 2021 National Defense Authorization Act (NDAA) with Bank Secrecy Act and anti-money laundering reforms. Carrie also addressed, within the NDAA, companies required to disclose their true beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) for the purposes of a newly created nonpublic database of beneficial ownership information.

As for the coronavirus relief package, Carrie talked about new requirements for the next round of PPP loans, as well as a laundry list of other items credit unions need to be aware of heading into 2021.

Like we said, there's a lot going on our nation's capital -- with significant implications to credit unions. Check out our conversation with Carrie and let us know your thoughts. And watch the entire episode below for all the details.

#2365: How the Future of Financial Services' Digital Experience Will Come from Today's Gaming Experience...

12/23/2020

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During the CU 2.0 Fintech Mastermind Showcase event, Constellation President/CEO Kris Kovacs and Digital Growth Institute Founder/CEO James Robert Lay discussed how the future of the financial services' digital experience will stem from today's gaming experience -- and he's not talking about rewards programs. This statement got everybody on the edge of their seat to hear more.

Much, much more in this clip to soak in and think about over the holidays. Check it out and let us know your thoughts.

#2364: 6 Predictions for Securing the New Virtual Office in 2021...

12/23/2020

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Watch the 4:04 clip above and/or check out the entire episode below the show notes.

All sorts of collaboration tools like Zoom, Teams, etc. accelerated their adoption this year, as most of us shifted to the remote workplace because of COVID restrictions. Many experts believe what we saw and experienced in 2020 is just the tip of the iceberg when it comes to this type of technology.

Joining us on the show to expand on this topic is Theta Lake VP of Compliance Marc Gilman. Marc takes a deep dive on collaboration tools via 2021 Predictions For Securing The New Virtual Office. But Marc adds a security risk caveat that could threaten to derail these tech innovations.

Here are the six collaboration tool predictions:

The traditional office as we know it will disappear
Organizations will double their usage of cloud-based video conferencing & collaboration tools, resulting in more compliance violations.
New collaboration features such as person-to-person payments will make security a headache.
Collaboration security will be a top priority for the government.
Regulators will no longer show compliance-related leniency to the financial services industry.
Collaboration-related personal injury lawsuits will begin to crop up.

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

#2363: Top 10 Cybersecurity and Fintech Predictions for 2021...

12/22/2020

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Watch the 8:37 clip above and/or check out the entire episode below the show notes.

Always an entertaining education when OneSpan's Director of Security Solutions Will LaSala appears on the program. And his most recent visit was no different.

In this talk, Will discusses the top 10 cybersecurity and fintech predictions for where the financial services industry is headed in 2021. We only addressed a few of them (highlighted), but here is a complete listing below for you:

Banks will invest in roles dedicated to enabling data-driven decision making
The future of the banking - more AI, machine learning, and biometrics and less passwords
Digital Identity based on Self-sovereign identity leveraging blockchain will emerge
Synthetic identity fraud will increase in 2021
Banks will start to accept other forms of currency
There will be frequent hacks in voice-capturing devices
Digital identities and remote account openings will gain traction worldwide
Open Banking will grow rapidly throughout the world
Facial recognition will drive the greatest changes to banking regulations
Regulation is on the way for cryptocurrencies

Again, another epic discussion with Will on cybersecurity to get you thinking about strategies and tactics heading into 2021. Check it out and let us know your thoughts. And watch the entire episode below for all the details.

#2362: Finder.com's Smart Money Moves for 2021...

12/22/2020

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Watch the 4:07 clip above and/or check out the entire episode below the show notes.

We're always looking for smart money moves -- anytime of the year. But, in true end-of-the-year fashion, we have some money tips to consider for 2021. To give us those and a few bonus tips at the very end of the interview is Finder.com Senior Writer Anna Serio.

Here are the smart money moves for 2021 Anna provides -- which she expands on in our discussion:

Build your emergency fund. The past year showed just how important it is to have an emergency fund. If you haven’t already, open a dedicated savings account and try to stash away at least three months of expenses by the end of the year, if possible.
Pay off high-interest debts first. If you have multiple types of debt, focus on accounts with the highest interest rates. This can lower your total cost and shorten the amount of time it takes to become debt-free.
Consider refinancing student loans — later in the year. With rates at all-time lows, refinancing your student loans could make it easier to get out of debt. Providers like SoFi even offer perks like unemployment protection that almost come close to what you’d find with federal loans. But wait until we know what changes are to federal student loans in 2021. You could miss out on new repayment plans and even forgiveness.

Check it out and let us know your thoughts. And watch the entire interview below for all the details and those bonus tips at the end.

<<Previous

#2366: NAFCU's Hunt Shares Latest on Coronavirus Relief Package and NDAA Veto Override...

#2365: How the Future of Financial Services' Digital Experience Will Come from Today's Gaming Experience...

#2364: 6 Predictions for Securing the New Virtual Office in 2021...

#2363: Top 10 Cybersecurity and Fintech Predictions for 2021...

#2362: Finder.com's Smart Money Moves for 2021...

Mike Lawson, Host

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