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Cubus Solutions Newsletter: April 2017


It’s no secret that saving money is more difficult than spending it. That’s why, since the dawn of time, everyone (start ups, fintech, FIs, and even Cubus) has been working on solutions to get members to keep more money in the bank.

Personal financial management and basic budgeting software applications have not really understood that very few people make the time and effort to explicitly save money and live within their budgets. These solutions have not been disruptive enough to make a difference to how people save. I've been associated with account aggregation technologies for fifteen years and know that these solutions have only marginal user penetration because they were not solving the fundamental problem - how to make people save more money.

I like the approach to saving being offered by Qapital, a fintech company that appeals to Millennials, whose app uses an “if this then that” method to saving, which allows users to set up rules that set aside money when specified triggers occur. The company has more than 200 prompts, or channels, that pull information from third party apps. These prompts range from user-controlled ones, such as “set aside $5 every time I publish a post on Instagram with the hashtag #blessed”; to more unpredictable events, such as, “save $10 every time the weather calls for snow.” Qapital also offers a savings feature that rounds up users’ daily purchases to the nearest dollar and deposits the change into their savings account.

You may recall that Bank of America had launched a similar savings program called "Keep the Change". Even Cubus developed a "Roundup to Save" application for a few pioneering customers a few years ago. It does roundup of a member's daily purchases and checking account balances and deposits the change into their savings account.

Whatever the technology, the point is to keep an open mind and not get bogged down in the way things have always been done. Learn from the likes of Qapital and adopt a savings strategy to meet the needs of your specific membership. We're at an inflection point of some really great things that are going to encourage people to save more..

~John-Ashley Paul, President/CEO

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Another Cubus One Customer

We’re pleased to announce our 23rd Cubus One customer: Arkansas Best Federal Credit Union. They officially landed on our Cubus One Wall of Fame this month. Arkansas Best has over 14,000 members who will soon have access to our Cubus One digital banking platform. Welcome to the Cubus family!

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Come See Us at the SymEast Conference

Will you be at the SymEast conference in Louisville April 17 – 19? If so, please stop by booth #7 and say hello to Mary Ann who will be talking all things Cubus for the Symitar core. In honor of the Kentucky Derby, they’ll be giving away mint julep candy and taking instant pictures with a Derby inspired photo frame, and other fun freebies. Hope to see you there!

10 Big Ideas for FIs - Spot on ideas on how to keep up with the challenges and opportunities headed your way in 2017.

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Millennials Will Switch Banks - Millennials are known for being tightfisted and that bodes well for credit unions. The big banks have recently been exposed for their exorbitant fees and that’s one of the triggers for switching.

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Our online Knowledge Base is always growing. Recently new are tips on adding new letters, getting mobile app statistics, setting up the bounce feature and more. Maximize the power of Cubus One with these how-to articles. Just log on and bookmark our portal for easy access  

ICYMI: Cubus Adds Corelation KeyStone

A press release announcing our first implementation for the Corelation KeyStone core was issued this week. We worked diligently with teams from both Corelation and Energy Capital Credit Union of Houston to accomplish our first integration of our Notification suite (alerts, notices/letters and statements) for KeyStone.

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