FinTech
The Friction Paradox – Compliance vs User Experience
Friction /?frikSH?n/ noun – Any unnecessary obstacles users encounter while interacting with banking products or services. These manifest in various forms, including cumbersome account opening procedures, complex loan applications, processes that are not aligned or consistent from channel to channel, or outdated digital interfaces. While some friction is essential for security and regulatory compliance, excessive…
Read MoreCredit Unions Embracing the Future
The Transition to Web3 and Distributed Ledger Technology A new technology solution no only holds the potential for all credit unions but promises to level the playing field for smaller credit unions. This disruptive technology affordably transforms a credit union, allowing it to offer decentralized and transparent systems that promise to democratize financial services. Web3…
Read MoreA Primer – Distributed Ledger and Web3 Technology for Credit Unions
It is equally accessible and affordable to small and large credit unions We’ve all watched the transformation for banking from an exclusive brick and mortar model to the Web2 model for digital and online banking. Now a new disruptive technology is coming to the forefront. Pioneered by Defy FCU and Bank Social (https://www.disruptionbanking.com/2023/11/16/banksocial-announces-proposed-defy-federal-credit-union-at-north-american-blockchain-summit/), Web3 (https://web3.foundation/)…
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