Transforming Payments for Credit Unions: Moving Beyond the Status Quo


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As instant payments continue to gain speed, they are already drastically changing the way consumers and businesses operate. At what point will members opt to send instant payments in lieu of cards, wires, ACH or checks? Then there's P2P payments, which are in high demand, but overly complicated and fraud-ridden. According to Forbes (November 2023), total P2P transactions are expected to top $2.3 trillion annually by 2026. Yet, despite the popularity of platforms like PayPal, Venmo, and Zelle, they suffer from issues such as sender-receiver incompatibility and rising fraud rates. With total P2P fraud losses surging to an estimated $1.7 billion in 2022, and nearly half of consumers unsure where to make a P2P payment (Forbes; November 2023), credit unions need a better path forward.

Join us for this webcast as we explore how instant payments are already changing the member experience and the innovative instant and P2P payments solutions that are empowering credit unions to take their payments strategy to the next level. Attendees will:

Uncover the true meaning of instant payments – discover how they differ from faster payments and legacy payments.

Understand why instant payments are a strategic imperative – a key differentiator that will enable credit unions to remain relevant and competitive.

Understand the problems of current P2P payments – from fraud and platform affordability to complex execution and inflexible, closed-network solutions.

Learn how to overcome P2P payment pain points – discover how Alloya's innovative solution addresses these challenges and better positions credit unions.

Explore the numerous benefits for credit unions and their members – learn how this superior solution exceeds member expectations, generates incremental income, and promotes membership growth through frictionless payment experiences.

Don't miss this opportunity to revolutionize your credit union's payments experience.

Register now!

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Jim Schneck | Chief Strategy & Innovation Officer | Alloya Corporate FCU

As the Chief Strategy and Innovation Officer, Jim Schneck leads the strategic planning process, which ensures that organizational objectives and initiatives are directed towards increasing value to the membership of Alloya Corporate.

He is also responsible for Alloya's payments business growth and innovation efforts. In this role, he assesses changing technology and industry dynamics to determine the most advantageous growth pathways: acquisitions, partnerships, product builds and/or strategic investments.

Schneck applies a unique blend of perspectives, having served clients in such financial and consulting firms as McKinsey & Company and Houlihan Lokey, led strategy and corporate development for a 5,000+ employee organization, and founded smaller advisory firms. He has been a contributor in the development of broadly used strategy and innovation methodologies such as The Balanced Scorecard and Experience Co-Creation.

Prior to Alloya, he served as Managing Partner for the Convergent Strategy Group. Schneck holds his Master of Business Administration from the Kellogg School of Management at Northwestern University, and his Bachelor of Science in Electrical Engineering from Iowa State University.

Shannon Heames | Executive Consultant | Alloya Corporate FCU

As an Executive Consultant at Alloya, Shannon Heames works with over 140 credit unions in the East region of Alloya's field of membership. She is responsible for the growth and development of new and existing credit union members by promoting and supporting the comprehensive product and service line and education efforts of the corporate and its credit union service organizations.

Heames holds a B.S. in business economics from the State University of New York at Oneonta. She has been in the financial services industry since 1999 and has been serving credit unions since 2003.

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