Special Report: Technology
Credit Union Journal | Monday, January 18, 2009
In keeping with CU Journal's commitment to providing both growth and cost-cutting strategies, this week's special report on technology offers a look at savings derived from process improvement, learning what members really want, P2P systems, stemming the tide of account closures and much more.
How CU Saved $250K with Process Improvement
RICHMOND, Va.-The good, old-fashioned suggestion box is making a comeback at Virginia CU here as part of a process improvement program that has reduced the need for six full-time employees in one year, or the net equivalent of more than $250,000.
Two CUs Respond to Payment Model Changes
TUKWILA, Wash.-It's payback time as two of the nation's largest credit unions launch mobile person-to-person (P2P) payments platforms to reclaim some of the thunder stolen by the likes of PayPal.
Lesson from Analytics? What Members Really Want
VIENNA, Va.-Members are less concerned about products and services and more interested in easy and free access to the credit union.
How One CU Is Using Tech to Stem Account Closures
AUSTIN, Texas-Seems that too many members are closing their checking accounts at Amplify Credit Union here. But ACU believes that a member feedback platform-which includes surveys, spontaneous comments and loyalty scores-will help keep accounts open and members on board.
CU Tech Execs Talk About What's in Pipeline
MADISON, Wis.-Look for credit unions to herd members online in 2010 to newly enhanced virtual branches-online hubs that save money for the CU and meet an increasing number of members' service needs.
Technologies, Trends to Watch for in 2010
WEST PALM BEACH, Fla.-Beyond cyber-banking, the eight CUNA Technology Council Executive Committee members participating in the Credit Union Journal "Look Ahead" roundtable said there are other technologies to watch in 2010.
What's Being Done to Stop Accidental Data Breaches
BURBANK, Calif.-Disgruntled, laid-off employees may be inclined to walk out with confidential data stored under their belt, but a number of CUs say they are still more concerned that current employees will accidentally e-mail non-public information (NPI), rather than maliciously steal it.
Disabling the Disgruntled
SANTA CLARA, Calif.-Though the risk of data loss due to retaliation from former employees is less worrisome to some CUs than the risk of data accidentally compromised in an e-mail, it's still important for IT managers to protect themselves against data theft after employee lay-offs, several analysts stressed.
