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Deep Dive: How CUs Are Rethinking Their Credit Solutions During The Pandemic

PYMNTS

Credit unions of various sizes were eager to roll out credit card innovation plans before the COVID-19 pandemic’s onset. These expectations also drove CU executives’ innovation agendas, with 91 percent voicing serious interest in developing card product innovations. Credit Innovation Planning Reset .

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Open Banking and Ecosystems

Cisco

Venmo solved a problem of an individual wanting to pay another individual (or even small business) without having to use cash, check or even debit/credit card. The emergence of open banking has dramatically changed the way people and small businesses manage their money and interact with financial tools and brands.

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Mastercard takes step away from cards with $825 million deal

BankInovation

made another push away from traditional card payments with an $825 million deal to acquire technology firm Finicity. Mastercard Inc. The purchase gives Mastercard more tools that help banks speed up credit decisions or improve account verification processes, using Finicity technology that lets companies share consumers’ financial data.

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Visa’s Kevin Phalen: Making The Case For B2B Payments’ Innovation Progress

PYMNTS

“If you look at checks, ACH, wires or card-based payments, we in the industry were heavily focused on delivering solutions for the buy-side, which I think is critical,” Phalen explained. But just as importantly, we have to solve for the supply-side as well.”. Payment Rails Converging. Rethinking the Infrastructure.

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NEW REPORT: New Regs Open New Markets For Credit Unions

PYMNTS

The July/August Credit Union Tracker looks at how the credit union market is pushing back against regulation and pursuing new innovation strategies, how regulatory changes are creating opportunities for credit unions to expand into new markets, and how one credit union is stepping up to assist members displaced by a natural disaster.

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Why Bunq Banks On The Cloud For An Innovative Edge

PYMNTS

Customers want to digitally manage multiple accounts without having to wade through time-consuming login screens or authentication processes each time. We do not think in a traditional sense that one bank account equals one user equals one card. This is similar to the card aggregation solutions that fellow FinTech Curve offers.

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Deep Dive: How Loyalty Innovation Improves Member Relationships, Boosts Brand Awareness

PYMNTS

PYMNTS’ Credit Union Innovation Playbook found that nearly 50 percent of the 2,000 CU members polled said they want their financial institutions (FIs) to focus on loyalty innovations, such as rewards offerings, in-app coupons and card-based cash back programs. percent supported having their CUs innovate and 17.3