Technology Solutions

Millennials and Money: What Big Banks Can Learn from Credit Unions’ Video Banking Success

By Damien Simonneau

When it comes to courting millennials, there’s a lot banks can learn from credit unions. While banks have more overall marketing power, with bigger budgets and more branch locations than their credit union counterparts, credit unions have one major advantage over banks today: their ability to be nimble and experiment with new technologies to attract and retain members — especially the digital-savvy millennial. According to BluCurrent Credit Union, nearly half (44 percent) of all new members are millennials.


CSI Launches API Platform to Build Custom Tech

Paducah, Ky. // 

End-to-end financial tech solutions company Computer Services Inc. has introduced CSIbridge, an open application programming interface platform designed to give banks the ability to build custom technology integrations with the goals of maximizing efficiency and enhancing competitiveness.


Kasasa Rolls out New Compliance Tool, RegGen

September 10 — Account holder disclosures are the agreements that govern Kasasa checking and savings accounts, and marketing disclaimers represent the “fine print” required in marketing materials. Now, Kasasa claims, rather than taking hours to write and edit disclosures and disclaimers, financial institutions can create and customize required regulatory language across all Kasasa products and promotional materials with just a few keystrokes.

RegGen enables financial institutions to create compliance language in three simple steps:

  1. Access the FIRSTBase portal. With a financial institution’s FIRSTBase credentials, Kasasa’s new Reference Manual can be downloaded to view step-by-step instructional videos to fully understand RegGen and its capabilities.
  2. Complete 11 setup questions. Financial institutions then answer a few simple set-up questions that will be stored and automatically incorporated into their disclosures and disclaimers.
  3. (a) Create account holder disclosures. Financial institutions simply answer two questions, confirm to download the MS Word document that is created, and edit the text to match their product designs and operational processes.


    (b) Generate marketing disclaimers. Financial institutions answer nine questions about the type of media they are using, the marketing message and the product they are promoting, then download and edit in the MS Word file created.

“Consumer transparency and regulatory compliance is immensely important. Unfortunately, up until now, the process of creating comprehensive accountholder disclosures and marketing disclaimers for reward-based checking and savings accounts has been a research-intensive, time-consuming and expensive proposition for many community banks and credit unions. Not anymore,” said Gabe Krajicek, CEO of Kasasa. “With RegGen, our clients’ marketing and compliance professionals have compliance at their fingertips. Now they can create, edit and customize disclosures and disclaimers in minutes rather than hours. Our clients are going to love it!”

The information generated by Kasasa’s new RegGen tool should be considered responsible guidance and should not be used as a substitute for consultation and guidance from your compliance officer, outside consultant, or legal counsel.

eGain Rolls Out ‘AI Value in 30 Days’ Program

September 6 — Sunnyvale, Calif.-based eGain has announced its “AI in 30 Days” program that seeks to enable contact centers and customer service organizations to leverage AI for quick business value. While AI has long been a hot topic among C-suite business leaders, projects usually take an average of 4 years (in some cases as long as 10) to come to fruition, according to research and advisory firm Gartner, Stamford, Conn. eGain’s new program has proven to show business value in 30 days or less (with the caveat that time to value depends on the availability of stakeholders to execute the initiative).


NACHA Launches Afinis Interoperability Standards for Financial Services

September 6 — NACHA, the Electronic Payments Association, has partnered with Afinis, a membership-based standards organization that brings together collaborators to develop implementable, interoperable and portable standards across operating environments and platforms. NACHA hopes Afinis will further the work of the association’s Payments Innovation Alliance Application Programming Interface (API) Standardization Industry Group (ASIG) to advance API standardization efforts across the financial services ecosystem through formal governance and includes the work of Interactive Financial eXchange Forum (IFX).


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