From technology to payments, Maine CU League offers expertise

February 14, 2018

The Maine Credit Union League and Maine's credit unions continue to be 'in the news' on a regular basis.  Most recently, the League offered its expertise regarding technology and financial services, and did an extensive white paper on the world of payments.  Both segments have been well-received, and received significant views and attention online.

In an interview that aired statewide on Newscenter Maine, Todd Mason, President of the Maine Credit Union League, said the financial services industry is evolving, due, in large part, to the continued evolution of technology.  He explained, "Technology can make managing your finances easier. But when coupled with the service credit unions are known for, you not only get high tech, you get high-touch too. For example, you can start an auto loan on your phone using a mobile app from your credit union. But if you need guidance along the way, your credit union just a click, call or visit away. Coupled with some of the newer advancements, like using Alexa to access your accounts using your voice, that combination of technology and service will just keep getting better."

In discussing payments and the many changes that the payment services space has and continues to undergo, Rebekah Higgins, Vice President of Payment Services at Synergent, "The world of payments is changing more rapidly than ever as a result of consumer demand and the evolution of technology and communication methods. Today's consumers are using cash and checks less often and are using payment methods that are quick and provide little resistance. These same consumers are also shifting away from utilizing traditional service providers when it comes to the transfer of money. Previously, payments would have been processed through a service linked to the user's primary financial institution."