Leveraging Innovative Technologies to Create an Enhanced Member Experience

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Enhanced Service

Leading-edge tools to provide unparalleled service, from onboarding and project delivery to innovative contact center and disputes solutions

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Accelerated Digital Innovation

Deploying a digital suite of tools, including mobile and online card management, fraud alerts, digital issuance and Lumin Digital, PSCU’s cloud-native digital banking platform

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Improved Efficiencies And Scalability

Utilizing automation and machine learning as strategic enablers of control and agility while supporting growth opportunities through process transformation and the PSCU Service Portal, powered by ServiceNow

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Member-centered Design

Focusing on delivery of products and services that align with credit union and member needs; products built using this approach include QuickAssist and Card Management

Innovation to Drive Digital Transformation

We have invested more than $150 million over the last five years to support our ‘digital first’ strategy and are focused on the following areas as we continue to optimize PSCU’s operations and enhance the member experience.


Evaluating opportunities to provide a holistic, cross-channel solution that leverages behavioral biometrics and other methods, while driving member experience, ultimately creating a frictionless and password-less experience with a consistent user experience (UX).

The result of PSCU’s best-in-class security practices saved Owners nearly $500 million in potential fraud dollars in 2021.

Artificial Intelligence

Actively deploying Artificial Intelligence to transform business processes, automate repetitive tasks and modernize legacy systems. Incorporating Machine Learning (ML) in fraud prevention solutions and applying predictive analytics and modeling.

Applying AI to compliance, authentication and other forms of data processing, for example, will save financial institutions unnecessary middle-office costs.

Faster Payments

Focusing on the industry and analyzing efforts for real-time payments. Identifying how to incorporate real time payments into existing PSCU solutions by leveraging our strengths as a cooperative to bring maximum value while reducing risk. Identifying which solutions would best fit each financial institution to enable consumers and businesses to immediately send and receive funds.

Fintech/Open Banking

Engaged with Mastercard Start Path program. Credit unions who partner with a fintech can reinvest their services, improve efficiencies and keep pace with advancements.

Innovation Resources Channel

Hear from top experts, industry leaders and peers on current topics affecting your financial institution

Next is Now

As an end-to-end, value-add financial technology and services provider, PSCU can help financial institutions address their challenges and improve the member experience. Our Innovation team is at the forefront of the industry, identifying new technologies, monitoring market trends and implementing technologies that best enable your credit union to compete in the future.

Direct line with Federal Reserve Bank to remain abreast of activity on FedNow

Member of the U.S. Faster Payments Council (FPC) with a seat on the FPC Board Advisory Group

Participates in directory models and regulatory workgroups

Monthly updates with FedNow and The Clearing House

Partner with Mastercard Start Path

Member of the Financial Data Exchange

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The Evolution of Cryptocurrency

Understanding Cryptocurrency

Cryptocurrency, or “crypto,” is a form of digital asset where monetary value is represented by a digital token. Since 2009, crypto has been gaining momentum in the financial services landscape, and interest in this digital currency is at an all-time high. While the National Credit Union Administration (NCUA) does not allow for credit unions to hold cryptocurrency within its federally insured deposits, third-party service provider relationships are permitted. Check out PSCU’s wealth of resources and information about this hot topic. Learn how to position your credit union to understand the opportunities and risks, and provide your members with valuable options in this space.

Frequently Asked Questions (FAQs)

The theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making and translation between languages.

Machine learning, and the power of prediction that it provides, can enable financial institutions to redefine their processes, their products and services and, ultimately, their business models. The pace of change, as it relates to AI, is quickening. As costs to entry continue to converge with technological capability and computing power, businesses of all sizes, even the smallest of our credit unions, can capitalize on the power of AI. Advanced analytics provide business managers with data-driven insights to better understand their business processes and anticipate future needs.

The U.S. Faster Payments Council defines faster payments as “payments in which the transmission of the payment message and the availability of final funds to the payee occur in real time or near-real time, and on as near to a 24-hour and 7-day basis as possible.” Faster payments are credit push only and the transaction must originate from the funding source.

Real-time payments are one of the types of payments that fall under the definition of faster payments. It is currently the fastest-growing segment in the payments space. This growth comes from the increasing number of use cases companies are finding that can take advantage of immediate settlement.

Any account-to-account transfer that would benefit the sender or the receiver by having settlement for the payment take place instantly. On-demand payroll, account-to-account transfer, P2P and adding an option to existing billpay for immediate payments are just some of the use cases taking place. Small businesses can also benefit from real-time payments by receiving payments in seconds versus several days, and by being able to control the timing of outgoing payments.

The real-time payments space has been developing in the U.S. market over the last two years and adoption is expected to increase. Financial institutions must integrate their core banking system, mobile and online experiences to implement real-time payments. Systems such as the core and any payments orchestration front-ends must also operate with no planned downtime, which requires significant investment in time, money and resources. A simpler way for an FI to participate partially in real-time payments is via Receive-only – a mode where the financial institution is certified to participate in real-time payments, but does not enable members to initiate payments nor receive or respond to request.

The ability to share data through APIs (Application Programming Interfaces), allowing third-party services access to a credit union’s member data.

Fintechs require access to consumers’ banking data to provide a better user experience in the applications that the fintechs control and members use. For example, P2P apps access credit union members’ financial data for easier access to funds or authentication into the app and subsequent initiation of P2P transfers.