John and Glen discuss both the good and bad of Generative AI and why credit unions cannot afford to sit on the sidelines. Also- Apple discovers the PR downside of dabbling in financial services.   Links related to this episode:     Our recent CU Town Hall on voice spoofing and other AI twists:  https://www.youtube.com/watch?v=DlKi9F4ywtU    NPR’s article on the AI extinction threat: https://www.npr.org/2023/05/30/1178943163/ai-risk-extinction-chatgpt    Dell’s CTO’s comments on Quantum Computing and how it will overshadow AI: https://www.itpro.com/technology/artificial-intelligence/dell-cto-ai-nothing-compared-to-the-oncoming-quantum-storm    The Wall Street Journal’s (somewhat overblown) article about Apple Savings’ one-way door: https://www.wsj.com/articles/apple-savings-account-customers-say-its-hard-to-get-their-money-out-of-goldman-sachs-bd8b9ccb         Join us Wednesday June 21 at 3pm ET/Noon PT for the latest edition of the CU Digital Town Hall, a live, lively and interactive meeting of industry leaders sharing best practices on the top issues impacting the credit union movement. Moderated by John Best of BIG and Mike Lawson of CU Broadcast:  https://www.cutownhall.com/  Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Follow Glen on Twitter @154Advisors Follow John on Twitter @jbfintech

Glen speaks with the Curql Collective’s Jim Ryan about his group’s ongoing quest to bring cutting-edge fintech to credit unions and a new portal that advances the cause. Also, finding more avenues for cooperatives to cooperate.   Links related to this episode:     The Curql Collective:  https://www.curql.com/   VentureTech, November 6-8 near Dallas, TX: https://myventuretech.com/    The NCB Co-op 100: https://impact.ncb.coop/hubfs/assets/resources/NCB-Co-op-100-2022.pdf    Our recent interviews with Venture Tech winners from 2022 (Tanya Van Court of Goalsetter) and 2021 (Rhian Horgan of Silvur): https://www.big-fintech.com/Media?p=big-ideas-fintech-madness-cuso-optional        Join us Wednesday May 24 at 3pm ET/Noon PT for the latest edition of the CU Digital Town Hall, a live, lively and interactive meeting of industry leaders sharing best practices on the top issues impacting the credit union movement. Moderated by John Best of BIG and Mike Lawson of CU Broadcast:  https://www.cutownhall.com/  Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Follow Glen on Twitter @154Advisors Follow John on Twitter @jbfintech

Glen speaks with veteran journalist Michael Lev about the supply chain expert’s recent encounter with Chat GPT in which the platform confessed to making stuff up. Also- more on deposit outflows and the sketchy definition of a “small bank.” (Gordon Lightfoot soundtrack optional)   Links related to this episode:     MxD’s Chain Mail newsletter, and Mike’s tale of ChatGPT’s “hallucination”: https://mailchi.mp/mxdusa.org/chainmail-package-delivery-blues   Reuters’ coverage on how the much-hyped “deposit outflows” only affected a small group of “super-regionals”: https://www.reuters.com/markets/us/deposit-outflows-after-svb-collapse-concentrated-among-super-regionals-ny-fed-2023-05-11/    New York Fed research underpinning Reuters’ story: https://libertystreeteconomics.newyorkfed.org/2023/05/bank-funding-during-the-current-monetary-policy-tightening-cycle/    Last week’s BIGCast featuring retired Fed executive Rich Oliver on the latest Payments Study, and a look at deposit insurance hysteria: https://www.big-fintech.com/Media?p=payments-then-and-now    Glen’s blog on key takeaways from the Fed’s Payments Study: https://www.big-fintech.com/Media?p=a-belated-christmas-gift-new-fed-payments-data        Join us Wednesday May 24 at 3pm ET/Noon PT for the latest edition of the CU Digital Town Hall, a live, lively and interactive meeting of industry leaders sharing best practices on the top issues impacting the credit union movement. Moderated by John Best of BIG and Mike Lawson of CU Broadcast:  https://www.cutownhall.com/  Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Follow Glen on Twitter @154Advisors Follow John on Twitter @jbfintech

Glen unearths nuggets from the latest Federal Reserve payments data with the help of author, retired Fed exec and Payments OG Rich Oliver. Also- bizarre notions swirling around the insured deposit limit.    Links related to this episode:   The 2022 Federal Reserve Payments Study: https://www.federalreserve.gov/paymentsystems/fr-payments-study.htm    The Fed’s Check Sample Study: https://www.atlantafed.org/-/media/documents/rprf/publications/check-sample-survey/2023/05/05/2021-survey/report     “The Story of Payments” by Richard Oliver and George Warfel, Jr: https://www.nacha.org/content/story-payments    Gallup’s poll on consumer attitudes of deposit safety: https://news.gallup.com/poll/505439/half-worry-money-safety-banks.aspx    SoFi’s “FDIC Insurance Network”: https://investors.sofi.com/news/news-details/2023/SoFi-Checking-and-Savings-to-Offer-Access-to-Up-to-2-Million-in-FDIC-Insurance/default.aspx      Check out the Best Innovation Group’s latest offering, BIG Support 365. Our expert technicians integrate seamlessly with your existing teams, relieving them of monotonous server administration tasks and allowing your staff to focus on high-priority, member-centric initiatives: https://www.big-fintech.com/Products-Services/BIG-Support-365   Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Follow Glen on Twitter @154Advisors Follow John on Twitter @jbfintech

More insights from Nacha Payments- including Glenbrook Partners’ Elizabeth McQuerry on the Faster Payments Barometer, and leaders from Akoya and Banked on the burgeoning Pay By Bank model. Also- insights from ETA Transact, and chipping away at MICA.   Links related to this episode:   The US Faster Payments Council: https://fasterpaymentscouncil.org/   Akoya: https://akoya.com/   Banked: https://banked.com/    Glenbrook Partners: https://glenbrook.com/    BNP Paribas’ overview of MICA: https://securities.cib.bnpparibas/markets-in-crypto-assets-regulation/    Last week’s BIGCast featuring more Smarter Faster Payments coverage, including Nacha CEO Jane Larimer: https://www.big-fintech.com/Media?p=rival-rails-same-day-successes     The Electronic Transactions Association: https://etatransact.com/    Nacha’s Smarter Faster Payments Remote Connect, May 8-10: https://payments.nacha.org/remote-connect      Check out the CU Town Hall, our live, lively and interactive monthly forum covering top-of-mind credit union issues. Request an invite for our late May session, and check out a replay of April’s continuing ChatGPT exploration with Central Willamette CU CIO Joey Rudisill:  https://www.cutownhall.com/  Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Follow Glen on Twitter @154Advisors Follow John on Twitter @jbfintech

Fresh from a content-rich Smarter Faster Payments conference, Glen shares interviews with Nacha CEO Jane Larimer and Open Payment Network Co-Founder/CEO Bradley Wilkes. Also, a first look at detailed data from the Fed’s triennial payments study.   Links related to this episode:   Nacha: https://www.nacha.org/   Smarter Faster Payments Remote Connect, May 8-10: https://payments.nacha.org/remote-connect    Open Payment Network: https://www.openpaymentnetwork.us/    The Federal Reserve Payments Study: https://www.federalreserve.gov/paymentsystems/fr-payments-study.htm      Check out the Best Innovation Group’s latest offering, BIG Support 365. Our expert technicians integrate seamlessly with your existing teams, relieving them of monotonous server administration tasks and allowing your staff to focus on high-priority, member-centric initiatives: https://www.big-fintech.com/Products-Services/BIG-Support-365   Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Follow Glen on Twitter @154Advisors Follow John on Twitter @jbfintech

We celebrate a milestone with fun facts from the first 100 episodes of our CU Town Hall, and share highlights from last month’s session with author/futurist Brett King. Also, FedNow refutes CBDC conspiracy theories- in real-time.       Links related to this episode:   The CU Town Hall archives: https://www.cutownhall.com/    Town Hall #100 with Brett King: https://www.youtube.com/watch?v=DnwwyQ-QQHk&feature=youtu.be    Brett’s latest book, “The Rise of Technosocialism”: https://riseoftechnosocialism.com/    Episode #68- Cannabis banking with Sundie Seefried: https://www.youtube.com/watch?v=yl5maAO2z78    Episode #85- CUs and Crypto with UNIFY CEO Gordon Howe: https://www.youtube.com/watch?v=6TeT9DFwE78    The Fed revises its FedNow FAQs to tamp down CBDC confusion: https://www.federalreserve.gov/faqs/is-fednow-replacing-cash-is-it-a-central-bank-digital-currency.htm    Bitcoin.com’s coverage of the bizarre FedNow “controversy” (NOTE- Glen finds this narrative misleading, but indicative of the social media dialogue): https://news.bitcoin.com/not-related-to-a-digital-currency-us-central-bank-addresses-concerns-over-fednow-payment-network/    Check out the Best Innovation Group’s latest offering, BIG Support 365. Our expert technicians integrate seamlessly with your existing teams, relieving them of monotonous server administration tasks and allowing your staff to focus on high-priority, member-centric initiatives: https://www.big-fintech.com/Products-Services/BIG-Support-365   Follow the Best Innovation Group on Twitter: @bigfintech Follow Glen on Twitter @154Advisors Follow John on Twitter @jbfintech  

Our second round of NACUSO coverage includes interviews with Next Big Idea competition winner GoalSetter and runner-up Mahalo Banking, Fintech Madness winner Silvur, CU2.0 co-founder Chris Otey on instigating the madness, and a compelling startup (Harness) that waged battle in both events.    Links related to this episode:   GoalSetter: https://www.goalsetter.co/   Silvur: https://www.silvur.com/     Mahalo Banking: https://www.mahalobanking.com/     Harness: https://www.harnessfi.com/    CU2.0: https://cu-2.com/  NACUSO: https://www.nacuso.org/ Last week’s episode with additional NACUSO interviews: https://www.big-fintech.com/Media/BIGcast/ArticleID/868/More-CUSOs-More-Service    Check out the CU Crypto Report, a crowdsourced data analysis of how CU members are already engaging with cryptocurrency. Now accepting volunteers to contribute anonymized data to our 2023 report: https://www.cucrypto.report/  Follow the Best Innovation Group on Twitter: @bigfintech Follow Glen on Twitter @154Advisors Follow John on Twitter @jbfintech

From a record-setting NACUSO Network conference, Glen shares a motherlode of interviews with CUSO whisperer/attorney Brian Lauer, DePaul Defi professor Lamont Black, and a pair of founders: Leeman Baird (Hedera) and John Wingate (BankSocial).   Links related to this episode:   NACUSO: https://www.nacuso.org/  Messick, Lauer & Smith: https://www.cusolaw.com/  Our prior conversation with Lamont Black: https://www.big-fintech.com/Media/BIGcast/ArticleID/822/Stoking-the-Flames  Lamont Black’s resource-rich webpage: https://lamontblack.com/  Leeman Baird’s company Hedera: https://hedera.com/  Our prior conversation with John Wingate: https://www.big-fintech.com/Media/BIGcast/ArticleID/829/A-Lone-Star-Lighting-the-Crypto-Path BankSocial:: https://www.banksocial.io/  Check out the CU Crypto Report, a crowdsourced data analysis of how CU members are already engaging with cryptocurrency. Now accepting volunteers to contribute anonymized data to our 2023 report: https://www.cucrypto.report/  Follow the Best Innovation Group on Twitter: @bigfintech Follow Glen on Twitter @154Advisors Follow John on Twitter @jbfintech

Amplify Credit Union CEO Kendall Garrison shares thoughts on running a fee-free shop, explains why CU members need not be overly fearful of an SVB situation, and why conveying that message requires finesse. Also- the Godot Recession, and a skewed definition of small banks.    Links related to this episode:   Amplify Credit Union’s Fee-Free approach: https://www.goamplify.com/fee-free/  Reuters’ reporting on “small bank” deposit losses: https://www.reuters.com/markets/us/us-large-bank-deposits-rose-week-after-svb-collapse-fed-data-2023-03-24/  Our prior episode untangling the SVB mess: https://www.big-fintech.com/Media/BIGcast/ArticleID/865/Silicon-Valley-Bank-through-a-Credit-Union-Lens  Fox Business shines a light on credit union safety: https://www.foxbusiness.com/markets/how-safe-credit-unions-bank-turmoil    Join us on Wednesday March 29 at Noon ET/9am PT (note the earlier time) as we celebrate the 100th episode of our live, interactive CU Town Hall. We’re marking the occasion with an appearance by noted author and futurist Brett King. All are welcome but registration is required: https://www.cutownhall.com/    Follow the Best Innovation Group on Twitter: @bigfintech Follow Glen on Twitter @154Advisors Follow John on Twitter @jbfintech