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Cubus Solutions Newsletter: December 2015


CFPB makes it easier to complain…and why you should be happy?

The CFPB issued its second monthly complaint report late November and it shows that more consumers are taking advantage of the organization’s complaint process. As of November 1, 2015, the CFPB has handled approximately 749,400 complaints, including approximately 24,300 complaints in October 2015, which is more in one month than they had in all of 2014.

The CFPB recently added a new feature to the consumer complaint database: namely, consumers now have the option to publish a so-called narrative regarding the complaint. The narrative elaborates on the consumer’s allegations against the company. Previously, the database only identified the financial product complained about, name of the company, and a category identifying the topic of the complaint.

To all of the above we say great! Stand-outs in the financial space (read: credit unions) should be thrilled too. More data gives you knowledge, and allows you to really separate yourself as an institution that’s doing it right from those who aren't. The fact that the financial services industry doesn’t have transparency into complaints is a common grievance. Let the public decide for themselves whether someone was making a mountain out of a molehill or identifying a real problem in their complaint.

How can credit unions use this new data for their benefit? Pay attention to the monthly complaint reports. Review the complaint categories. Understand the consumer’s pain points. See trends. Make your processes better. Create a better member experience. Transparency equals knowledge which gives you the insight to make your organization better.

CFPB Complaint Report

~John-Ashley Paul, President/CEO

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The Future: IoT for FI’s

You’ve probably heard the term Internet of Things (IoT) and have an obscure understanding of what it means. IoT includes anything and everything that is connected to the internet and able to communicate and share information with other smart devices. Sometimes this concept is referred to as M2M (machine-to-machine) communication. An analysis by Deloitte predicts that the IoT has big potential in retail banking. Click here to see some potential future implementations of the IoT for financial services.

Read the Deloitte Analysis

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Tax Form Processing Webinars

  • Tues., December 8, 11:00 am PT
  • Thurs., December 10, 11:30 am PT

Invitations have been sent. If you utilize the Cubus tax form processing and have not received your notification please contact Linda Olson ( or Cubus Customer Support.

What We're Reading

Consumer Reports says CUs rated highest - Credit unions received among the highest marks for service that Consumer Reports has ever given to an industry in the magazine’s recent financial services series “Bank & Credit Union Buying Guide.” You have to be a member to view the full report but a CUNA article gives enough information and sound bites to use for marketing and social media.
Read CUNA Article

Making the mundane memorable - Improving your ability to convey information to members who have problems in a concise, friendly style will yield better results than anything else. There are few hacks for talking to customers, and nothing scales quite like consistently delightful communication. See some customer service phrases complied by Help Scout that leave customers delighted.
Customer Service Phrases

Did You Know?

Now your members can read their alerts in mobile friendly format! We have redesigned all the Notify, Deposits, Transfers and Cubus Online Banking e-mail templates into a responsive format so that the layout is liquid and resizes based on the desktop/web email client or mobile/tablet device used when viewing the templates. In addition, all of the mobile text messages have been optimized to meet the 160 character limit. Below are images of the same sample e-mail when viewed on a phone and a PC. All customers will be sent a separate e-mail with a link to the templates along with instructions for deploying.

Upcoming Webinars

Thurs. Jan 14 11am PT

Skip-A-Pay - UltraData
Wed. Jan 20 11am PT Skip-A-Pay - DNA
Thurs. Jan 21 11am PT Rewards - UltraData

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