It will be an exciting 2018 for credit unions if just apercentage of the industry forecasts listed prove foretelling.However, expect continued cybersecurity incidents and threats tosteal some attention.

The following are capsulations of some pertinent 2018 insights,expectations and predictions offered by financial services industrycompanies and experts on a range of topics such as digital, mobileand retail banking; payments and cryptocurrency; data security;application programming interfaces; fraud; the Internet of Things;core deposits; credit union bank acquisitions; machine learning andartificial intelligence.

Tom Donlea, vice president of global marketing,Whitepages Pro:

  • Identity verification will become a part of the regulations andcompliance for lending, payments and other online businesses.
  • The combination of machine learning and quality data willrequire any serious lender to make sophisticated decisions in thefast-moving online banking market.
  • Larger online lenders will bring fraud fighting in-house ratherthan rely on a third-party platform. They'll trade out rules-onlydecisioning platforms in favor of a hybrid platform that also usescustom models.
  • Blockchain for Identity will finally move beyond prototype. Thefirst deployment will occur with high value financial industriesand for health-related data.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).