Aug 24, 2021
With each passing day, fewer business practitioners have direct experience dealing with the disruption caused by inflation cycles last felt in the US 30+ years ago. Are such skills coming back into fashion?
Aug 10, 2021
We at BIG spend an unhealthy amount of time pondering the future trajectory of cash usage and its implications for credit unions- you’ll find some of our earlier analysis here.
Jul 20, 2021
Based on the industry’s reaction, you’d think the banking sector had been singled out in the Biden Administration’s recent Executive Order addressing market competition. The wide-ranging document actually encompasses 72 initiatives, with financial services the last category listed- well after healthcare, agriculture, and transportation, and in less detail.
Jun 22, 2021
The Federal Reserve is hardly one to court controversy. Given the polarized history
plaguing interchange, not to mention persistent rumors of back-office plotting to revisit
the Durbin Amendment, it’s nearly impossible to stay above the fray- even with a “just
the facts, ma’am” report like the Fed recently released.
Jun 08, 2021
Best Innovation Group recently partnered with my friend, longtime industry expert, and KnowBe4 Defense Evangelist Roger Grimes to discuss the steps credit unions can take immediately to improve their security posture. You can watch the full session here, but let me share a few of my favorite takeaways.
May 10, 2021
In a recent blog post I addressed pandemic-driven changes in consumer payment behavior and the apparent confusion over both health factors and the economics of various payment instruments. Since then the plot has only thickened- with lawsuits filed, misinformation propagated, and no sign of clarity on the horizon. Allow me to update the situation through a variety of personal anecdotes and news items.
Apr 27, 2021
As Americans gradually emerge from quarantine- whether self-imposed or government mandated- it remains to be seen how consumers’ relationship with Main Street merchants has changed for the long run. Conventional wisdom holds that existing market trends toward digitization received a 12- to 18-month jolt forward from the pandemic. These changes encompass higher e-commerce volumes and order-ahead app usage as well as shifting payment preferences (contactless, cash-free) at the point of sale.
Apr 13, 2021
A recent Best Innovation Group webinar focused on the three things your credit union can do now to prepare for the pace of accelerated change. The insights shared by industry leaders John Best and Kevin Sarber are well worth an hour of your time. Here, however, I’ll drill down on one key point that particularly resonates for me.
Mar 23, 2021
John Best readily admits he had no idea where the CU Digital Town Halls would head when he launched them in mid-March last year- he only knew he had to do something. Households were moving into pandemic lockdown- taking the economy with them- and credit union branches were being shuttered out of public health concerns.
Mar 16, 2021
I’ve been flying the “can’t we all just get along?” banner for some time. Credit unions and community banks?- there’s a lot more that should unite than divide us. Fintech firms as friends or foes of financial institutions?- sure, some will choose to compete head on but there are plenty of mutually beneficial avenues for collaboration.