Banking-as-a-Service (BaaS) FinTech company Mbanq has inked a contract with banking technology company Temenos to offer a Credit Union-as-a Service (CUaaS) offering for U.S. credit unions, according to a Monday (Oct. 11) press release. The goal of the joint offering is to spur BaaS use...
If you ask most credit unions to list their biggest competitive advantage that other financial players don’t have, you’d likely hear of their ability to meet members’ needs or to stay laser-focused on the people they serve. Inversely, if you asked about where they felt...
Spurred by growing demand for prepaid cards, the payments credit union service PSCU has launched what it calls a “prepaid digital experience platform.” Announced on Wednesday (Oct. 6), the PSCU My Card Manager mobile app and website gives cardholders more control over reloadable prepaid cards,...
It’s a critical time for credit unions as the risk of members pursuing enticing offers and better terms from competing financial institutions is very real. According to PYMNTS’ August 2021 Credit Union Innovation Playbook: Portfolio Leakage Edition, 55% of members currently use at least one...
Credit unions have a long history of earning top ratings in member satisfaction — with good reason. CUs offer many of the same services and financial tools as traditional banks, but several advantages set them apart from competitors. CU members own a share of the...
Credit union members want it both ways: the convenience of applying for loans online, but also backed-up by the comfort of knowing they can communicate directly with staff if the need arises. Whether by chat, text or email, Community First Credit Union’s James Urban tells...
Credit unions (CUs) have long been known for the personal relationships they build with their members. After the pandemic forced customers to adopt a digital-first mindset, customers still wanted individualized attention, but they wanted it delivered through digital channels, with in-person services and live call...
Payments preference calls the tune these days — and to mix metaphors, you’re either the steamroller or the road when it comes to offering the optimal payments mix. For credit unions (CUs), the issue is somewhat more critical, as card networks and competing financial institutions...
Mbanq CUSO has rolled out a Credit Union-as-a-Service (CUaaS) business model “to launch and operate the Credit Union of the future as a comprehensive service,” according to a company announcement Thursday (Sept. 2). CUaaS offers customers a “coordinated package of technology, operations, legal compliance and...