The Decision Maker

Coming up for Credit Unions... Blockchain, Chatbots, AXFI and more with Paul Ablack on CUbroadcast [Video]

Posted by Mark Portz on Nov 2, 2017 11:10:00 AM

At the 2017 NWCUA MAXX event, Paul Ablack joined Mike Lawson of CUbroadcast to discuss Digital Transformation, predictive analytics, chatbots, the upcoming Analytics and Financial Innovation (AXFI) Conference, the increasing popularity of blockchain, and more. 

As a part of the conversation, Paul and Mike discuss member expectations and the interactions between credit unions and members. Members who shop at stores such as Zappos experience seamless and easy-to-use online shopping. These types of experiences alter the expectation for members when interacting with other organizations, such as their credit unions. In addition, credit unions have to learn how to connect with members throughout the entire decision making process. As Paul points out, credit unions need to position themselves to not just be in the business of loans or mortgages, but as an organization that is helping to make dreams come true. Rather than just being the last step in a process of getting a loan, credit unions could help with the decision making process, and truly be there for members before they've even decided whether they need a loan. 

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Topics: AXFI Conference, Video, Blockchain, Digital

Spotify Has Acquired Blockchain Technology… How Will the Distributed Ledger Affect your Credit Union?

Posted by Mark Portz on May 31, 2017 11:02:00 AM

 

Last month, Mediachain Labs, a blockchain operator, was acquired by Spotify, a popular audio streaming service. The goal of the acquisition is to utilize the new technology to help track and appropriately pay the correct people when songs are played on Spotify. This is especially challenging with Spotify’s impressive growth in both users and song selection.

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Topics: Blockchain, AXFI Conference

3 Ways Blockchain is Reducing Uncertainty

Posted by Mark Portz on Dec 7, 2016 12:35:37 PM

In a recent TED Talk, Bettina Warburg, Blockchain entrepreneur and researcher, describes exactly what we should be expecting from the upcoming blockchain innovations and how it is reducing today's uncertainty.

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Topics: Blockchain

Latest on Blockchain, AXFI, and … What the Heck is Hadoop? [video]

Posted by Mark Portz on Aug 17, 2016 10:33:00 AM

 
OnApproach's Founder and CEO Paul Ablack discusses the Analytics and Financial Innovation (AXFI) Conference,   Fintech disruptors, and the future of credit unions, including cloud analytics, shared applications,  Blockchain and Hadoop. 
 
Mike Lawson, host of CU Broadcast, states " Paul not only provides great insight on this information evolution, but he also gives us a couple of eye-popping examples of how credit unions are benefiting from this customized content. Really good stuff here."
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Topics: AXFI Conference, Blockchain, Podcast, Collaboration

Financial Landscape Developments: Blockchain’s Impact and FASB’s New CECL Comments

Posted by Austin Wentzlaff on Jun 21, 2016 11:52:37 AM

The financial services industry is being constantly challenged with new regulations and outside threats. Two important developments in the financial world recently that are worth noting are the immense growth in blockchain technology utilization, as well as the impact of the Financial Accounting Standards Board’s (FASB) recent comments on Current Expected Credit Loss (CECL) guidelines. These are both undoubtedly items to keep top-of-mind, as they are impacting institutions from community banks and credit unions to the large banks. 

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Topics: Blockchain, CECL, Big Data

6 Steps to Analytics and the Tools Needed

Posted by Austin Wentzlaff on May 12, 2016 1:05:04 PM

A common misunderstanding with data analytics is how and when the various “tools” are used.  Many think that a great data visualization tool (e.g. Tableau) will solve all of an organization’s problems.  Often overlooked, however, are the many steps it takes for an organization to get from data ground zero to becoming completely analytically proficient.  When it comes to data management and analytics, the order in which you introduce new tools is extremely important.  In order to make each step up the analytics curve effective as the last, credit unions must consider the following steps:

  1. Data Access – The first step in an analytics strategy is simply getting access to the data necessary for analytics. Although this may seem like a fairly easy task, credit unions may find it difficult to get access to the data they are looking for.  It may be due to the level of skill needed to the extract the data or due to a vendor’s unwillingness to provide the data.  Whatever the challenge might be, data access is an extremely important task in becoming analytically proficient and will need to be tackled right away.
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Topics: Big Data, Blockchain, Data Analytics