CU 2.0 Podcast Episode 193 Elan Mevasse on Very Good Security - Is It a Better Way to Secure Member Data?

 Ask Very Good Security - a San Francisco based fintech - what it does that is different in terms of securing member data and the answer is blunt: what it does is different, better, even very good. To quote from the company's website about the question that spawned the solution: "Was there a way to secure the data, take it out of scope of liability, and still allow it to be used and exchanged? There was. Their solution became Very Good Security, a new type of data security company with a revolutionary way for companies to secure data."

Bold idea?

Absolutely.

But face up to reality: data security has been a train wreck for some years. How many times have your credit card numbers, even SSN, been stolen by hackers in the last decade?

There has to be a better way.

Very Good Security believes it has that way and Elan Mevasse, the company's credit union lead, is on the podcast to tell what the company does and how it does it.

There's some technical speak in this show - "tokenization" and suchlike - but on the whole this is a PG rated episode that will be accessible to all.

Listen to the end too. There's a minute or two devoted to how Very Good Security helped Ukraine based engineers and their families relocate to safer ground as Russia invaded the country.

Listen up.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

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Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

CU 2.0 Podcast Special Edition: Tech in Ukraine, Surviving the War

 Before the Russian invasion, Ukraine's tech sector was a brilliant, bright spot in that Eastern European nation. By most tallies it brought in revenues around $6 billon in 2021, around 4% of GDP.  Foreign investment has been brisk.  The future definitely had been bright.

Is it still?

In this podcast the guests are Anatoly, CEO of CXDojo, a Ukraine based firm staffed by software engineers and business consultants, and Maksim, business development manager for CXDojo. Consumer experience is a key focus.  

Our talk is about the war, the future, why agile matters as a business philosophy, maybe now more than ever, and why Ukraine is a great place to look for computing talent...and why it will again be once the bombs stop falling.

Along the way you will also hear a lengthy discussion of agile as a business philosophy - and how war maybe is a stark reminder of the need to stay agile.

To get more of team CXDojo, here is a podcast they did with Kirk Drake, founder and CEO of CU2.0.  It's a fun, informative romp that tells why making wine is a lot like starting a fintech.

Listen up: this is a podcast that is unlike any of we have recorded before. 

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

And like this podcast on whatever service you use to stream it. That matters.

Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

CU 2.0 Podcast Episode 192 Laura "Lo" Trujillo Array on Credit Scores and Your Members

 It's called Array for good reason.  That's because this fintech offers an arsenal -- ok, an array - of credit score tools such as a a credit score, a credit score simulator (what happens if you pay off that mortgage?), three bureau credit scores (they do differ), dark web monitoring and more.

Credit unions that sign up for the Array services can pick and choose what tools they want to offer.

Isn't it simpler - and cheaper - just to point members to Credit Karma?

You bet. But why don't you just tell them to apply for a loan there, too, because Credit Karma makes its money by funneling users into financial products. Products that aren't yours.

Now do we have your attention?

In this podcast, Laura Trujillo - call her Lo - director of credit union sales at Array - tells why you want to know about Array and why your members will be eager to use the tools.

You want more member visits to your site and your mobile app? You want sticky tools?  Then you probably want credit score tools because many frequently check their credit score, especially if they are dreaming about a new home or rental or maybe a new car and who isn't these days? Is your credit score high enough to qualify? Don't guess, know. Use the Array tools at your credit union - and get loan or mortgage there too.

Listen up.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

And like this podcast on whatever service you use to stream it. That matters.

Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

CU 2.0 Podcast 191 Raj Bhaskar Hurdlr - Make Gig Economy Workers Into Members

 Take a guess: how many of your members earn income from the Gig Economy? 

That can mean anything from an Uber driver, doing DoorDash deliveries, working as a realtor, or creating podcasts.

Guesses run from 25% to over 40% of your members get some money that results in a 1099 form and, therefore, they very much need an easy way to track tax deductible expenses.

Enter Hurdlr, an app that automates expense tracking - including mileage.  That means more Gig workers can deduct more expenses and pay less taxes.  Legally.

Hurdlr's aim is to take the sweat and heavy lifting our of expense tracking for gig workers, said Raj Bhaskar, CEO of Hurdlr.

By the company's estimate it has saved users over $300 million in taxes

What does this have to do with your credit union?

Hurdlr is available directly to consumers - there's even a free version.

But now Hurdlr wants to help credit unions make the app available to their members - and that may help bring in new members who suddenly see that your credit union is actively deploying tools for gig workers.

Sound good?

Listen up to this interview with Bhaskar.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

And like this podcast on whatever service you use to stream it. That matters.

Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

Live from CU2VIP-Live Event #4 Don Shafer Quilo/Joe Arnold Carter on Newstyle Lending

 Time travel back 20 years. Imagine going into a credit union or bank and asking for a personal loan for $500.  

Reality: unless you are a very established member/customer you would be shown the door.  Empty handed.  That's because, in those days, there was no way to profitably make that loan.  

$50,000? Sure.

But $500 for some emergency dental work? Nah.

But now we are in 2022 and, suddenly, fast, inexpensive loan underwriting is a reality as is loan processing. Enter Quilo, a startup co-founded by Don Shafer, well known as a co founder of Kasasa  (click here to hear CU2.0 Podcast #23 on Kasasa).

Quilo's business is making quick instalment loans to credit union members where the member chooses the payback timetable that works best for him/her.

In most cases, too, the terms are more favorable than buying over time on a credit card.

Loan decisioning also is very fast and loans can be offered on credit as well as debit transactions.

Quilo's business model is direct to credit unions and community banks. 

The company also plans to help participating credit unions market the availability of Quilo financing to merchants in their community who will be encouraged to make their customers aware of this opportunity.

Sound good? The other guest in this podcast is Joe Arnold, CEO of the $500 million Carter Credit Union in northern Louisiana. Arnold says he wants to offer Quilo to both his members and merchants in his community. He also indicates he believes Quilo will help bring new members into Carter. That means it will help solve two concerns: the need for new members and putting Carter deposits profitably to work.

This is the fourth and last quick podcast from the recent CU2VIP-Live event that brought together perhaps three dozen credit union and fintech leaders. The conversation with Armstrong and Shafer that you hear in this podcast is representative of the kinds of conversations that participants enjoyed over two and one-half days.

Wish you'd been there? Take heart. A follow up event is planned for late summer/early fall. Stay tuned.

And...listen up.

Live from CU2VIP-Live Event #3 Jeter + Butcher on CISOs, Fintechs, Security and Your Credit Union

 Build a fintech from the ground up with security in mind - especially and crucially if the fintech wants to work with credit unions.

That is the one sentence takeaway from this 20 minute conversation with Shane Butcher, director of CISO Services of CUSO Ongoing Operations (and a past CU2.0 Podcast guest, episode 85), and Gary Jeter, chief technology officer at Trustone Financial Credit Union.

At credit unions - and the federal regulator - security is a non negotiable must have.

Along the way you will also hear about the differences between CIOs and CTOs, where a CISO resides in a credit union (and why), and - listen closely - Jeter tosses out a fascinating idea for a newstyle 21st century safe deposit box that is there for data protection and, he suggests, it just might bring in revenues down the line.

Right there is what made the CU2VIP event special - clever ideas just pop up if you are listening for them.

Listen up.