Credit union service organization (CUSO) PSCU compared the 19th week of 2020, which concluded on May 10, to the same timeframe in 2019 to discover the impact of the pandemic on consumer spending and shopping trends. “Our data continues to show signs of consumer awakening,...
There’s nothing new under the sun, goes the saying — but when it comes to payments fraud, there are new ways to do it. As the coronavirus pandemic rages on, and as card-not-present (CNP) transactions present new vectors for fraudsters, financial institutions (FIs) — specifically...
PSCU will host its Virtual Member Forum 2020 from June 16 to June 17, bringing its largest yearly event to a digital environment in light of continued virus-related lockdowns. “While the COVID-19 pandemic prevented us from coming together in San Francisco for Member Forum 2020...
We can divide financial services into two eras: before the pandemic and after. The continued pivot toward digital banking and mobile devices substituting for in-person visits to branches is spurring financial institutions (FIs) to reconsider how they deliver new products and services – and what...
Advances in technology are making consumer transactions seemingly more secure, but cybercriminals are still finding sophisticated ways to beat systems and commit financial fraud. A 2018 study on payment fraud mitigation reported that 75 percent of financial institutions (FIs) experienced fraud losses. Three common forms of fraud that can threaten credit...
Analyzing credit union (CU) members' behaviors and mapping out their journeys is imperative in offering the right products and services to them. In the latest PSCU Credit Union Tracker, Dana Vas Nunes, senior vice president of member services for Arizona Federal Credit Union, discusses how...
Credit unions (CUs) have had to shutter many of their branches or limit capacity alongside other financial institutions (FIs) to protect members and staff as the COVID-19 virus continues on. This shift to primarily digital comes with some perks, such as easier transactions and more...
The April 2020 New Payment Flows edition of PYMNTS’ Credit Union Innovation Playbook series, a PSCU collaboration, looks into the credit union (CU) space at a pivotal moment: Many concepts, from eating to shopping to traveling and, of course, how we pay, have changed forever....
Service 1st Federal Credit Union has joined PSCU, a credit union service organization (CUSO), according to a press release. PSCU is a cooperative that supports the transactions of 1,500 credit unions. Service 1st, which was founded in 1975 and is based in Danville, Pennsylvania, has...
