 Stuart Mackinnon NCR Atleos Corporation (NYSE: NATL) (“Atleos”) today announced the launch of a new LibertyX Bitcoin Cashout feature whereby enrolled LibertyX customers can sell bitcoin, picking up their cash conveniently at ATMs across the United States at thousands of leading merchant locations with a transaction point within five miles of more than three in four Americans once rolled out across all participating ATMs.
This feature is made possible through the Atleos ReadyCode API suite. ReadyCode is a one-time use code system developed by Atleos that supports a range of cash in and out solutions as an embedded finance tool for program managers, financial institutions, and merchants to complete everyday transactions without the use of cards and traditional networks. ReadyCode connected ATMs will offer the ability for enrolled LibertyX customers to seamlessly receive their cash at locations and communities of their choosing following the sale of bitcoin across more than 30 states to start. Enrolled LibertyX mobile app users stage a transaction using the locator within the app, similar to a pre-staged purchase experience, and fulfill the transaction at an Atleos ATM that participates in LibertyX and is ReadyCode enabled. "Atleos has focused on supporting consumers, issuers, and merchants with solutions that bridge digital solutions and services with physical infrastructure,” said Stuart Mackinnon, COO of Atleos. “Adding an offramp for LibertyX users to convert digital assets to physical cash enhances the value proposition of LibertyX, grows foot traffic at participating merchants, and increases the productivity of our ATMs.” “One of the remaining barriers to greater bitcoin adoption by consumers has been the ability to move easily and effortlessly from bitcoin to cash without waiting days for transfers facilitated by ACH or dealing with the complexity of wire transfers,” said LibertyX General Manager, Chris Yim. “With LibertyX Bitcoin Cashout, LibertyX app users can pre-stage digital to physical transactions from the convenience and privacy of their phone and pick up their funds on their schedule in locations that work for them.”
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 Bo McDonald Serving mostly rural areas with limited access to services and infrastructure in Missouri and Illinois, United Community Credit Union is playing a role in building more sustainable, vibrant communities. In July, the $118 million credit union reported a $4.1 million increase in loans year to date, outpacing last year by 48.2%.
“We had big loan growth in January, and it has never stopped,” said CEO Sarah Distin. “That’s very unusual.” She credits the growth with giving members the flexibility to choose their own due date and payment schedule in today’s environment. Inflation has continued to erode the purchasing power of individuals and families, making it increasingly difficult to afford necessities like groceries, housing and healthcare. As prices for everyday goods and services rise, many people find their wages aren’t keeping pace, leading to a squeeze on household budgets. UCCU allows its members to align their payments with their cash flow, reducing the stress of meeting rigid deadlines, especially when expenses fluctuate due to rising costs. Paying weekly, or according to one’s preference, can help with managing budgets, avoiding large lump-sum payments that might put a strain on one’s finances. In March, UCCU paid more than $125,000 in interest rebates and bonus dividends to its members in the form of deposits to savings accounts. It’s a reminder that credit unions are supposed to be “not for profit,” Distin said. “There are other larger credit unions where their return on assets are insane. Their philosophy is to be a bank,” she said. “We felt it was the best time to give back to our membership.” UCCU steps in when members struggle to pay their bills. Where other financial institutions refuse to make small dollar loans, the credit union offers quick approval and funding online. Members can also refinance their auto loans from another lender and save up to 2% annual percentage rate. The credit union’s current auto campaign, “Inflation Got You Down,” created by Your Marketing Co., uses the visual metaphor of an over inflated tire about to bust to symbolize the financial strain many are feeling due to inflation. Just as a deflated tire makes it difficult to move forward, inflation makes it hard for people to keep their financial lives on track. “United Community Credit Union is firing on all cylinders, consistently expanding their reach and deepening member relationships,” said YMC CEO Bo McDonald. “Their ability to successfully market themselves has led to steady growth in loan origination and increased wallet share – expanding their reach and deepening member relationships.” In June, UCCU broke ground on a 9,000-square-foot headquarters that is centrally located in the town of Quincy, Ill. When it opens in 2025, the new headquarters will double its existing space, have three drive thru lanes with an ATM that accepts deposits, and undergo technology upgrades that will better serve staff and members. “People are discovering us,” Distin said. “We’re getting our name out there, and when we get a new member, we’re matching the service they expect. In today’s world, people find that valuable.”  Jay Choi Glia, the leader in Unified Interaction Management technology for financial institutions, has extended the powerful capabilities of its Responsible AI solution, Glia Cortex, into Glia Call Center. Expanding Glia Cortex across digital and voice customer interactions creates a seamless, ChannelLess® experience for consumers no matter how they wish to connect with their bank, credit union, or insurance company.
With Glia, financial institutions break free from the constraints of legacy contact centers solutions and deliver frictionless customer interactions across the entire support ecosystem.
“Integrating AI into contact centers is no longer optional to meet customer expectations, but rather a strategic imperative,” says Jay Choi, chief product officer at Glia. “Glia’s ChannelLess® platform combines a best-in-class virtual assistant, purpose-built for financial services that gives customers helpful and relevant responses; back-end AI tools to help agents deliver more responsive and personalized service to customers; and a powerful data analysis tool for managers looking to find new ways to drive efficiency, performance, and increase the value delivered by the contact center.” This launch adds new Glia Cortex capabilities that create free-flowing digital and phone interactions–shedding the weight of traditional siloed channels. These ChannelLess® features include:
“We’ve been using Glia’s new Cortex Agent and Manager AI features in our contact center and it has changed our experience in coaching, quality assurance, and member interactions. We are impressed with our newfound powers of instant insights, efficient call analysis, and enhanced team performance, resulting in substantially improved member care and operational effectiveness,” said Adam Goetzke, director of customer experience at Heritage Federal Credit Union. “From the agent, to the supervisor, to me as a director, it's substantially improving our ability to interact with members and provide them with quality care.” This launch is the latest in Glia’s constant innovation drumbeat, including the introduction of Responsible AI for financial services, and announcement of Unified Interaction Management to challenge the CCaaS paradigm. Learn more at glia.com.  Tucson Federal Credit Union (TFCU) is proud to announce the launch of its newest mortgage product, the Fixed4Five Mortgage Loan. This innovative offering combines the stability of a fixed-rate mortgage with the flexibility of an adjustable-rate mortgage (ARM), providing homebuyers with an easy way to meet loan needs.
The Fixed4Five Mortgage Loan features:
"We designed the Fixed4Five Mortgage Loan to give our local home buyers the best of both worlds - the security of a fixed rate for those crucial first five years, and then the opportunity to adapt afterwards based on changing market conditions and personal financial goals" cited TFCU CEO Matthew Gaspari. The Fixed4Five Mortgage Loan is particularly advantageous for homebuyers who:
This new product underscores TFCU’s commitment to innovation in the mortgage industry and its dedication to providing customers with diverse, tailored financial solutions. TFCU continues to offer all advantages of a nationwide bank but with that special local service only a local credit union can give. For more information about the Fixed4Five Mortgage Loan, please visit www.tucsonfcu.com.  Lauren Culp The National Credit Union Foundation (the Foundation), the national charitable arm of the credit union movement, today announced that Lauren Culp will begin as the new Executive Director in December. Culp, who currently serves as President and CEO of CUInsight, will succeed current Executive Director Gigi Hyland, who announced her retirement in March and will serve until December 31, 2024.
“I’m thrilled to lead the talented and caring team of credit union advocates at the Foundation, and to continue the trailblazing efforts for financial well-being for all,” said incoming NCUF Executive Director Lauren Culp. “Our industry is at a critical juncture, and leaning into our mission as credit unions has never been more important. I look forward to working with the excellent Foundation Board and team to advance the work of the Foundation and the collective impact of our credit union system.” “America’s Credit Unions fully embraces Lauren Culp as the new leader for the credit union movement of charity and service,” said America’s Credit Unions President and CEO Jim Nussle. “Her experience will bring a dynamic perspective on how the credit union movement can continue to thrive and provide much needed education and advocacy on financial literacy for the 140 million Americans – and counting – who rely on their credit union for financial success.” Culp, who has led CUInsight since 2019, has strong experience in strategic leadership and executive management with a deep understanding of revenue growth, financial sustainability, and industry collaboration. Prior to CUInsight, Culp held leadership positions at Filene Research Institute, and began her career at True North Federal Credit Union, in Juneau, Alaska. “As a Credit Union Development Educator, Lauren deeply understands the Foundation’s vision to make financial freedom achievable through credit unions,” said retiring Foundation Executive Director Gigi Hyland. “The cooperative spirit and generosity of the credit union system will thrive under Lauren’s leadership, and I am confident she will expand the Foundation’s impact.” The Foundation Board worked with Hudson RPO and the America’s Credit Unions human resources team to conduct the national search for Hyland’s successor. “Gigi’s passion and dedication to the industry has moved the needle in a meaningful way and has no doubt left a real impact on many American families and their financial well-being,” Nussle said on NCUF’s exiting Executive Director Gigi Hyland. “On behalf of America’s Credit Unions, we wish Gigi all the best as this new chapter begins.” “We are deeply thankful for Gigi’s visionary leadership, which has elevated our Foundation to new heights, and we wish her nothing but the best in her future endeavors. We’re also excited to welcome Lauren as our new leader, as her passion and expertise make her a great fit to continue us on the path to a bright future,” said Foundation Chairman John Sackett.  Achieva Credit Union announced today the launch of EVA, a new virtual phone assistant designed to enhance member services and further streamline financial transactions. EVA replaces the credit unions long-time MoneyLine product, offering members the same quick and convenient service with a more advanced and user-friendly experience.
Instead of pressing buttons and navigating long menus, Achieva Credit Union members can now use voice commands to access account balances, transfer funds, stop payments, and much more. EVA responds to member questions just like a real conversation, and is available 24/7. “EVA reflects Achieva Credit Union’s commitment to innovation and our dedication to providing the best possible service experience for our members,” said David Oak, Chief Marketing Officer at Achieva Credit Union. “This service is already hugely popular with our members. It makes banking more convenient, secure, and efficient, while ensuring that everyone has access to the same wonderful financial experience they’ve always enjoyed.” For members who prefer to speak with a live representative, EVA seamlessly transfers calls to one of Achieva’s member service managers during regular business hours. Security is also top priority, and EVA uses verification questions to keep all member information safe from fraud. For more information and to learn how you can access EVA, please visit achievacu.com/Home/Eva.  Matt Potere Happy Money, a leading provider of unsecured lending that helps credit unions grow, today announced Matt Potere as its new Chief Executive Officer. Matt brings over 25 years of experience in the consumer finance industry, including unsecured lending and point-of-sale financing, and a proven track record of success in leading mission-driven organizations.
Matt joins Happy Money from Sunlight Financial, a provider of affordable loans for clean energy projects, where he served as CEO for nearly a decade. Under Matt’s leadership, Sunlight funded over $10 billion in loans, representing over 250,000 families who were able to go solar, ultimately helping create a more sustainable future. Matt also held leadership roles at Bank of America where he led the Home Equity and Auto Products division to grow its market share by more than 50%. “Happy Money has brought significant value to the market in recent years, creating a model that helps consumers streamline debt more quickly and affordably while enabling credit unions to attract new members and strengthen their balance sheets with a desirable asset,” said Potere. “Happy Money’s passionate and dynamic team, sophisticated proprietary underwriting models, and close ethos alignment with credit unions sets us apart. I’m energized to help drive the next chapter of growth at Happy Money as we continue to empower consumers to meet their financial goals and credit unions of all sizes to scale both digitally and nationally.” The Happy Money platform enables credit unions to effectively fund personal loans to help consumers pay off debt more quickly, ultimately driving member acquisition and impact. Backed by TruStage Ventures, the company has a track record of success with the credit union community, originating over $6 billion in loans in partnership with credit unions, representing more than 300,000 new members. “Matt is a seasoned leader with deep experience in end-to-end digital lending, which will bring considerable benefit to our credit union lending partners,” said Brian Kaas, President and Managing Director of TruStage Ventures and Happy Money board member. “His unique expertise and skill set, along with his strong cultural alignment, make him an ideal addition to Happy Money’s leadership team. Matt has already hit the ground running, and I look forward to seeing how he propels the Happy Money mission forward.” IDology Unveils Global Fraud Report, Reveals Growing Concerns About Generative AI's Impact on Fraud8/26/2024  IDology, a GBG Company, today released its 2024 Global Fraud Report, confirming increasing concerns about the impact of generative AI on fraud. With rapid advancements in AI, businesses expressed heightened concerns about the evolution of familiar types of fraud—such as synthetic identity fraud (SIF) and phishing—fueled by generative AI.
Emerging Tech Fuels Familiar Fraud Generative AI can quickly turn out human-like text, realistic images, and even deepfake videos at scale, allowing fraudsters to create believable synthetic identities and phishing emails and texts with ease. Key findings related to generative AI include:
Mobile and Online Fraud Remain Top Targets While fraudsters leave no stone unturned, they continue to hedge their biggest bets on digital channels.
"From phishing scams and account takeovers to the creation of synthetic identities and beyond, the fraud landscape is evolving fast," said James Bruni, managing director of IDology. "Tapping into generative AI and technology advances, fraudsters can scale their operations and produce outputs that are remarkably convincing and, in many cases, indistinguishable from content created by humans. As generative AI fuels fraud and customer expectations grow, multi-layered digital identity verification is essential for successfully balancing fraud prevention with friction to drive loyalty and grow revenue." Now in its ninth year, this year's Global Fraud Report was created in collaboration with GBG counterparts in Europe and Asia, with each region sharing local findings that collectively offer a perspective on shifting global fraud trends. The survey gathered quantitative information from over 1,200 respondents globally across financial services, healthcare, travel, hospitality, lending, gaming, insurance and e-commerce/retail sectors. Positions and titles of respondents include senior leadership, vice presidents, directors, managers and analysts in risk, fraud, compliance, product, customer experience and operations departments. For additional insights into fraud trends across a variety of industries and firsthand perspectives shared by executives on the front lines of fraud prevention, download the full Global Fraud Report.  Brian Schools Chartway is pleased to announce it has been named one of the 2024 Best Credit Unions to Work For. The program, established by Best Companies Group—a research firm that surveys companies to provide valuable feedback on recruitment and retention—was created to recognize and honor employers who best demonstrate excellent workplace culture and business influence. American Banker recognizes the winners. It is the third consecutive year Chartway has been included on the list.
The list is determined using a two-part survey. The first part, which accounts for approximately 25% of the total evaluation, considers each credit union's workplace policies, practices, philosophy, systems, and demographics. The second part, which accounts for approximately 75% of the total evaluation, consists of an employee survey that measures the employee experience. “Our team members are both the heart and backbone of Chartway, ensuring we compassionately serve and support our members,” said Brian Schools, president and CEO of Chartway Credit Union. “We're grateful to them for upholding our values, living our culture, and sharing their opinions. Because of our team, we can celebrate inclusion on the Best Credit Unions to Work For list for a third straight year.” To qualify for a spot on the list, participants must be credit unions with a minimum of 15 eligible employees and have been in business for at least one year. Best Companies Group manages the survey process, data analysis, and final rankings. You can learn more about jobs at Chartway Credit Union, on the careers page, here. Get the latest news about Chartway by visiting our media center.  Ashish Garg Eltropy, the leading AI-powered conversations platform for community financial institutions (CFIs), today announced that its upcoming 2024 Leadership Summit will feature a special focus on "Safe AI" in the financial sector.
The third annual Eltropy Leadership Summit, scheduled for August 26-28, 2024, at the picturesque Sundance Mountain Resort in Utah, will bring together thought leaders, industry experts, and financial professionals across the industry to explore the responsible and ethical implementation of AI technologies in credit unions and community banks. As artificial intelligence continues to reshape the financial services landscape, Eltropy recognizes the critical need for a more balanced approach that harnesses AI's potential while prioritizing security, compliance, and member trust. The summit will delve into Eltropy's pioneering "Safe AI" framework designed to guide community financial institutions through the complexities of AI adoption. "The financial industry stands at a crossroads where AI promises incredible efficiency gains but also raises important questions about safety and ethics," said Ashish Garg, Co-founder and CEO of Eltropy. "Our Leadership Summit will tackle these challenges head-on, offering practical insights on how credit unions and community banks can leverage AI responsibly to enhance member services without compromising trust or regulatory compliance." Key topics to be covered at the summit include:
This year’s Eltropy Leadership Summit will feature a dynamic lineup of speakers, including:
The event will include a keynote address on "The Future of Safe AI in Community Banking" by Eltropy Head of AI Products Saahil Kamath. Additionally, discussions other customers will provide attendees with practical knowledge and skills for implementing Eltropy's Safe AI framework within their institutions. "We're not just showcasing technology; we're building a dialogue about responsible AI use in finance,” said Kamath. “Attendees will leave with a clear understanding of how to navigate the AI landscape safely and effectively, tailored specifically to the unique needs of credit unions and community banks." The Eltropy Leadership Summit has become a cornerstone event for forward-thinking CFI professionals. Deliberately kept intimate to encourage meaningful connections and in-depth discussions, this exclusive gathering brings together select industry leaders from across the country. "This year's focus on Safe AI couldn't be more timely," added Ashish Garg. "As we've rolled out our AI suite, we've seen firsthand both the excitement and the apprehension surrounding these technologies. Our goal is to equip attendees with the knowledge and tools they need to confidently lead their institutions into the AI era, always keeping member interests at the forefront." Eltropy extends its gratitude to the event sponsors: Effectiv, SWIVEL, and Datava, whose support has been instrumental in making this summit possible. To learn more about the event, please visit 2024 Eltropy Leadership Summit. |
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
September 2024
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