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An Opportunity to Help Advance the Future of Faster Payments

Posted by Deborah Matthews Phillips

May 23, 2018 11:00:00 AM

“Life moves pretty fast.” Sage wisdom from one of my favorite movie characters. Who knew that a movie made 32 years ago – Ferris Bueller’s Day Off - would be so enduringly prophetic?

Technology has fueled today’s expectations of immediacy. I am too busy to wait in line for my latte so I order ahead with an app. I expect to pick up my ecommerce order at the store within an hour or two. I use messaging services to communicate with family and friends and usually receive a prompt response. 

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Topics: Information Technology, Payments, Mobile Banking, Online Bill Pay, Tomorrow's Technology, banking, bigtech, technology, Digital Generation, Millennials

FinTech vs. BigTech and What Community FIs Should Know

Posted by Jennifer Geis

May 2, 2018 11:00:00 AM

Fintechs emerge

There’s always been a lot of competition in the banking business. Big banks, community banks, credit unions and eventually online-only banks compete for market share, investor dollars, and  consumer trust. Back in the early 2000s, the notion of focused Fintechs emerged. PayPal was one of the first true Fintech firms. It received its first wave of funding in 1998 and later launched a mobile payment platform specifically for Palm Pilots and PDAs (personal digital assistants). Remember those? In addition to PayPal, other early Fintech players included Mint and Square. Mint created a personal finance management dashboard in 2006 and Square launched a mobile point-of-sale terminal in 2009.

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Topics: Credit Unions, fintech, banking, financial institution, API, bigtech

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