Georgia’s Own Credit Union Senior Vice President of Strategy and Product Management John Carew recently weighed in about payment solutions in a Credit Union Journal article titled, “Credit unions jockeying for position in crowded payments arena.”
Below is an excerpt from that article:
The payments products most CUs use today are legacy products that were launched 20 years ago and do not allow CUs to keep up with their bank competitors, said John Carew, senior vice president of strategy and product management for Georgia’s Own Credit Union in Atlanta.
The $2.4 billion-asset institution had been looking for next-generation technology to improve the member experience, which is why the credit union joined the CU Payz CUSO, Carew said. CU Payz will include consumer payments, business and loan payments, internal transfers and deposit openings, all on one platform.
‘We want to take it out of the home baking experience. We remove it from that corner and make money movement available to all members,’ Carew said. ‘If the members keep more money in their checking account, that deepens the PFI relationship. IT is a differentiator that does not exist with other payments solutions.’
Also featured in: Credit Union Journal