Jan 05, 2021
A blessing/curse of posting to the internet is that it’s virtually impossible to destroy evidence of past statements. Not that we’re looking to hide anything.
Dec 21, 2020
One of the biggest financial stories to emerge from the pandemic has been the forward jolt to digital adoption for services like banking an e-commerce. Of course, the overall trend toward digital channels has been underway for some time. We at BIG have been preaching to credit unions for years the criticality of providing state-of-the-art online and mobile solutions to members in order to remain relevant in today’s marketplace.
Dec 14, 2020
Last week we recapped five of the most important fintech stories of the past year (don’t worry; none of them involve pandemics or the election). Let’s continue with a few more, including some late-breaking news:
Dec 09, 2020
John Best and I decided to bypass our annual Year’s Top Fintech Stories podcast and proceed directly to 2021 predictions- after all, isn’t everyone ready to move on without further discussion of coronavirus and the election?
Nov 17, 2020
The gig economy is driving one of the greatest labor market transformations in generations. Such shifts rarely occur without havoc and discomfort- which is precisely what we’re seeing today. On November 3 California residents voted on Proposition 22, a ballot initiative designed to reset the rules governing drivers for app-based services like Uber and DoorDash. The story is already compelling, and we’re nowhere near the final chapter.
Nov 09, 2020
As people from both ends of the political spectrum took to the streets Saturday in reaction to election news, many were quietly asking themselves, “Wait- what does this mean for banking and fintech?” (just kidding- sort of)
Oct 26, 2020
One of the pandemic’s many casualties was the joint CUNA/World Council of Credit Unions
(WOCCU) conference, which had been scheduled for July in Los Angeles. Recently WOCCU released its annual Statistical Report, which presumably would have been cause for celebration at the live event. And there is plenty to celebrate, with global membership growth of 17 million (over 6%) in 2019 alone.
Oct 19, 2020
The regulatory landscape for US financial institutions is notoriously complex, a complicated web of overlapping federal agencies and state authorities. The need to comply with so many rule makers is frequently cited as a reason the US lags in financial innovation. Sometimes it takes a bold, borderline crazy move to jumpstart the process. And we may have just seen one in- of all places- Wyoming.
Oct 12, 2020
Credit unions - and innovation - don’t exist in a vacuum. There’s plenty to be learned from experiences beyond financial services, as well as the broader context in which we all operate. That’s one of the principles behind BIG’s weekly Digital Town Hall Meetings, at which credit union leaders share best practices and recent developments. There are inevitably valuable takeaways from distant colleagues confronting similar issues and sparks of inspiration prompted by observations on related- as...
Sep 29, 2020
Budget season is among the year’s most stressful and aggravating times under the best of circumstances. Layer on our current uncertainty regarding the economy, public health and election outcomes and the challenge begins to feel insurmountable. With most credit unions entering their peak of 2021 planning, leaders may be reasonably questioning the value of an exercise seemingly less tethered to reality than usual. Let’s consider how to get the most from a necessary process in these difficult ti...