Blog Archives

#2769: Understanding Risk and Investment Exposure for Credit Unions in Cannabis Banking...

12/29/2021

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Looking to know the latest in cannabis banking compliance? CRB Monitor's Founder/CEO Steve Kemmerling is certainly a go-to resource in this department, as this industry is booming right now with no end in sight.

Steve joined us to discuss how CRB Monitor empowers financial institutions and capital providers to understand, identify and manage cannabis-related risks and opportunities through its database of cannabis-related businesses (CRBs) and beneficial owners.

Steve also talks about the difference between banking hemp and marijuana, the latest trends in cannabis banking, and much, much more.

Check it out and let us know your thoughts.

#2768: 6 Steps to Reduce Cybersecurity Risk for Today's Credit Unions...

12/28/2021

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Be sure to watch the full episode located below the show notes.

Digital Defense by HelpSystems VP of Product Management Mieng Lim stopped by the show to discuss cybersecurity challenges facing credit unions today, as well as six steps to reduce cybersecurity risk.

Mieng adds to those topics by sharing the fallout of these risks, which can be very costly to the bottom line — from $190,000 for small credit unions to more than $1.2 million for large credit unions.

She also talks about double and triple dipping, as hackers will return to the "scene of the crime" (your credit union) multiple times for more money. Mieng then tells us about the big business of Ransomware as a Service (RaaS) on the dark web, where bad actors are selling stolen information to other bad actors for a fee.

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

#2767: 154 Advisors' Glen Sarvady Talks Fintech Winners for Credit Unions...

12/28/2021

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Be sure to watch the full episode located below the show notes.

Managing Principal at 154 Advisors, as well as industry payments and fintech expert, Glen Sarvady joined us on the show to share his insights on winners from the recent VentureTech and NACUSO Next Big Idea competitions -- and the themes that seemed to run between the two events.

Two of the big winners at each of the events were Silvur (VentureTech) and RenoFi (Next Big Idea) and Glen shares his views on why these two fintechs stood above the rest. Although, he admits there wasn't a clunker in the bunch.

He also discussed what he sees on the horizon in the payments/fintech space for 2022.

Always a though-provoking conversation with Glen. Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

For further reference, here are our recent interviews with Silvur and RenoFi:
Why Silvur Had a Very, Very Good Week in Vegas...
Capstone Drives Partnership with Ardent CU and RenoFi to Bolster Home Renovation Loans...

#2766: PSCU Reveals Findings from Latest Eye on Payments Study...

12/27/2021

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Be sure to watch the full episode located below the show notes.

PSCU’s Chief Marketing Officer Tom Pierce and Advisors Plus Consulting Vice President Norm Patrick joined us on the show to share findings from their latest "Eye on Payments" study.

Tom and Norm talked key findings discovered in this year’s study, uncovering any new or emerging payments trends -- as well as key differences in payment preferences among generations.

We also discussed some of the study's key takeaways that credit unions can leverage to better serve their members and optimize their offerings as the payments landscape continues to evolve.

Some of the topics/findings included:

Personalization
Contactless
Mobile
Ecommerce
BNPL
Crypto

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

#2765: How a Holiday Package Phishing Scheme Could Cost You Big Bucks...

12/23/2021

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Be sure to watch the entire episode located below the show notes.

To fill us in on a new holiday package phishing scheme that could cost you big bucks during the big shopping season -- even with post-Christmas sales, we invited Eric Stegner, the Director of Information Risk at Andrews Federal Credit Union, on the show.

But before we get into the some of the scams going on this holiday season and how to protect yourself, Eric talked about how much fraud activity he has seen at Andrews FCU so far. He also discussed how fraud from COVID has snowballed into the holiday shopping season, as well.

Getting back to our topic, Eric addressed the Federal Communications Commission issuing a new warning about fake shipping notification alerts that look alarmingly legitimate, taking advantage of the millions of deliveries today -- and especially during the holidays.

But fear not, Eric shares what consumers and even credit unions can do for protection in this instance. As a bonus, he shares some other tips to help consumers and credit unions spot red flags this holiday season and protect their accounts.

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

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