Today In Data: Going Big, Thinking Small

The marketplace of 2018 and its many opportunities are the favored fodder for optimists in the digital age. But a fast-growing world is a challenging one – particularly with fraudsters always waiting in the wings to make the costs of failure very high for those who fail to upgrade adequately. And as the world gets more connected – which it will – the opportunities for fraudsters to break into those connections only become more numerous. But for all the undeniable risks, the rewards are numerous and perhaps unexpected, as a more connected world is also allowing community-based organizations like credit unions  to connect more closely and credibly with their growing consumer base.

Data

$372 million: Estimated property damage (so far) from the Kilauea volcanic eruptions of 2018.

$625.3 million: What PwC was ordered to pay by a judge for failing to detect fraud between a client and a mortgage lender.

$1 trillion: Value of loan balances held by credit unions as of March 2018.

$6.2 trillion: The estimated worth of the global market for connected devices by 2025.

76 percent: Share of millennial consumers who report they are always looking to try new and different forms of banking, saving, payment and currency.