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Cubus Solutions Newsletter: November 2017

How’s your blockchain vocabulary?

NAFCU announced last week that they were getting a ‘seat at the table’ of one of the world’s largest blockchain organizations called Hyperledger. It’s kind of a big deal. Hyperledger is a global collaboration including leaders in finance, banking, IoT, supply chain, manufacturing and technology. They are building the backbone of non-monetary, high scaling industrial applications of blockchain technology. This means credit unions have a super intelligent and cross-industry inside source, and a faster path to integrating emerging technologies like blockchain and cryptocurrencies. NAFCU’s Dan Berger was quoted as saying the new partnership is going to bring it to a ‘whole other level’. Who knows what that means at this point, but NAFCU has said they will be co-hosting events and webinars with Hyperledger and avidly reaching out to credit unions to invite them to learn more about blockchain, cryptocurrency and other related topics. The opportunity is there for credit unions to educate themselves around the benefits these emerging technologies provide. The big benefits? Berger says, quicker settlements, saving money on the back office, contracts, fraud reduction and more.

~John-Ashley Paul, President/CEO

It’s the Season of Skips

Holidays are meant to be joyful and yet November, December and January are known to be the most financially stressful months of the year. Planning holiday travel, buying gifts and organizing parties, all can break your member’s budget at the end of the year. If you don’t have an automated skip program, you might want to think about the Cubus Skip-A-Pay product. We automate everything allowing your credit union to not only offer holiday skips, but skips year round…online or in person. We automate everything allowing your credit union to not only offer holiday skips, but skips year round. We’ve had some wonderful success stories, so if you are interested, please reach out to us and we’ll give you a personal demo.

Automate Your Cross-SellingIn the digital world, marketing automation is vital to achieve success with cross-selling. It allows you to automatically recommend new and complimentary offerings, and ensures that every member gets timely and personalized offers. Additionally, you can use a combination of segmentation criteria, machine learning and artificial intelligence to trigger the next best marketing action for everyone in your audience. You might not be as big as Amazon, but you have way more information about your members. When Amazon introduced cross-selling in 2006 (i.e., “customers who bought this item also bought…”), their sales increased by 35%. Ask us about the Cubus products that can help your credit union successfully automate the process of cross-selling to members.

What We’re Reading

Speaking of blockchain technology, here are two articles that provide practical examples of how blockchains are being used in the banking and financial services sector.

Economist Intelligence Unit surveyed senior retail banking executives around the world about consumer expectations and where they intersect with emerging technological trends. The Financial Brand provides an easy-to-read synopsis.

Did You Know?

“In this world nothing is as certain as death and taxes.” Benjamin Franklin

We are diligently working on our 2017 Tax Form updates. Watch for webinars dates and installations dates coming this month.

Upcoming Webinars Tuesday, 11/07
Loyalty Rewards
Thursday, 11/09
Cubus One Digital Banking Platform

Tuesday, 11/14
Loyalty Rewards

Thursday, 11/16
Cubus One Digital Banking Platform

All webinars are held at 11am Pacific Time

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© 2017 Cubus Solutions, Inc

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