Why speed is becoming a competitive advantage. Borrowers increasingly expect speed alongside competitive rates when choosing a lender. Digitizing loan origination helps financial institutions meet that expectation by streamlining the application, verification, underwriting, closing and funding process. For [...]
Right now, a general AI chatbot is playing financial advisor to your account holders and it's good at the job. It gives detailed, confident answers at any hour, and with tools like Plaid, it can even read real account [...]
The way people open financial accounts is changing. What once meant filling out an online form and waiting for a decision is evolving into a connected experience that can verify identity, make decisions in real time, manage risk, fund [...]
For decades, success in banking has been built on a simple idea: anticipate what account holders need, then put the right offer in front of them. That way of thinking gave rise to everything from [...]
Digital loan origination has changed what businesses expect from the lending experience. Applications that once depended on paper forms, branch visits, manual data entry, and days of back-and-forth can now move through a largely digital [...]
The real competitive line for credit unions and community banks isn't digital versus manual, it's friction versus flow. A consumer decides to switch financial institutions on a Tuesday night, scrolling their phone after the kids are [...]
The next generation of members is being formed right now. Some of them are sitting at kitchen tables, opening apps their parents have never heard of, building financial habits that will last decades. The credit unions that show [...]
Modern online banking for community banks has become essential for growth, customer retention, and long-term competitiveness. As customer expectations evolve and fintech competition intensifies, community banks need digital banking platforms that deliver secure, seamless, and intelligent experiences across [...]
This page provides clear, structured answers to common questions about digital banking, fintech partnerships, and the evolving technology landscape for credit unions and community banks. It is designed to help financial institution leaders better understand modernization strategies, emerging innovations, [...]
Digital banking has moved from being a convenient option to an essential expectation. Banks and credit unions no longer compete solely on interest rates or branch locations; they compete on the quality of the digital experiences they offer. [...]
As CU-bank transactions surge nationwide, two states account for the most activity, reflecting shifting financial dynamics and sparking intensifying pushback from banking trade groups. Credit union purchases of community banks — once rare, now routine [...]
For decades, opening a new bank or credit union account meant stacks of paperwork, in-branch visits, and long wait times. But today’s consumers expect something entirely different: instant access, seamless digital experiences, and the ability to get started [...]
Next-gen authentication without the hassle. Introducing Cryptographic Device Authentication (CDA) in nFinia Digital Banking; a way to bind trust to the device itself using advanced cryptography that’s seamless for the user and nearly impossible for attackers to replicate. [...]
As digital banking becomes the norm, borrowers expect simple, seamless payment experiences. Yet many financial institutions still rely on outdated systems, especially in the growing world of indirect auto lending, where borrowers rarely interact with [...]
Since now. That’s because ordering a bag of Java4Kids coffee now means supporting Children’s Miracle Network Hospitals through CU4Kids, a non-profit organization. Children’s Miracle Network Hospitals provide care to 12 million kids each [...]
Credit unions are always looking for new and innovative ways to drive member loyalty and increase member engagement. Now, Tyfone and DBSI are partnering with Java4Kids in a program that can achieve those goals while [...]
What is Generative AI? Generative AI is a powerful form of artificial intelligence that goes beyond simply analyzing existing data and identifying patterns; It has the ability to generate entirely new content, such as text, code, [...]
Artificial intelligence (AI) is reshaping the landscape of digital banking, significantly changing the way account holders interact with financial services. From personalized recommendations to seamless transactions, AI is revolutionizing user experiences in ways that were once unimaginable. Let's [...]
In an increasingly digital world, where there is huge emphasis on user experience and convenience, the concept of financial wellness is becoming more critical than ever. Digital banking has transformed the way we manage money, [...]
Digital transformation is no longer optional for financial institutions; It's mandatory. The traditional banking model, which relied heavily on face-to-face interactions and physical branches, is rapidly being replaced by a technology-driven approach. According to a [...]
No matter how small a credit union is, when it enters the fast-growing payments space it immediately faces large foes in the form of banking giants such as Wells Fargo and JPMorgan Chase or innovative Fintech platforms providing [...]
LISTEN NOW Episode Summary Keith Riddle General Manager Payfinia CUSO About the episode Glen connects with Payfinia CUSO General Manager Keith Riddle and Star One Credit Union’s EVP of Operations [...]
Tyfone’s first-ever Thought Leadership Forum brought together some of the brightest minds not just in digital banking, but in the greater credit union space, and showcased the power of partnerships. Tyfone, a leading digital [...]
Payfinia’s Instant Payment Xchange (IPX) was recently announced as the winner of the prestigious Editor’s Choice Award as part of the 2024 PayTech Awards USA. The awards are given out for groundbreaking innovations and to [...]
Modern digital banking goes beyond innovative features, flashy interfaces, and omnichannel services. At its core, a truly modern banking platform is built on the foundation of accessibility and ease of use, ensuring that all individuals, regardless of ability, [...]
Digital inaccessibility has a profound impact on disabled users, constraining their options when it comes to choosing the right financial institution. According to the Census Bureau, approximately 14% of the U.S. population has a form of disability. [...]
Siva Narendra, the CEO of Tyfone, recently spoke at CUInsight’s Mini-Con series about the evolution of digital banking. Among other topics, Narendra discussed the ways that digital banking is similar to [...]
Siva Narendra, the CEO of Tyfone, recently joined the Banking Transformed podcast hosted by Jim Marous, co-publisher of the Financial Brand. Narendra discussed how consumers are driving the advancement of digital [...]
Implementing automated loan payment systems in financial institutions streamlines internal operations, enhances employee productivity, and improves job satisfaction. Automation reduces errors, fosters teamwork, and allows staff to focus on higher-value tasks, ultimately boosting overall efficiency and customer satisfaction. [...]
In a tech-driven world, financial institutions offer innovative real-time online loan payments, like Tyfone's Quick Pay, providing immediate confirmation, customizable options, self-service capabilities, and device accessibility for improved borrower experience. In today’s technologically driven [...]
Skip-a-pay loan payment deferral programs are increasingly becoming an option for credit unions that are looking to help struggling members and bring in additional fee income at the same time. The programs allow members who [...]
Automated loan skips offer real-time financial relief, preventing defaults and preserving credit scores. This support fosters trust and promotes long-term financial health, showing institutions' commitment to customer well-being and operational efficiency. Financial hardship can [...]
Explore digital banking tools enhancing financial management and customer loyalty. Learn how mobile apps, personal finance tools, and loan skips improve user experience and operational efficiency. In the dynamic world of digital banking, financial [...]
Financial institutions are prioritizing back-end digitization to stay competitive. Streamlining operations enhances efficiency, compliance, and customer service, leading to increased engagement and satisfaction. Discover how Tyfone helps achieve these goals. In today's highly competitive [...]
User experience in digital banking, often referred to as UX, encompasses a range of emotions, thoughts, and behaviors experienced by account holders while interacting with a financial brand. An example of great banking user [...]
Fintech has recently been experiencing a period of transformation with the arrival of the FedNow Service. For financial institutions, integrating the FedNow Service isn't merely a choice; it's becoming more and more of a mandatory strategic move to maintain [...]
In the past, spotting a phishing email was easy due to its spelling and grammatical errors. Similarly, recognizing your child's voice on the phone assured you of their identity. However, with advances in AI, these simple identifiers are [...]
Your account holders may encounter financial challenges in meeting their obligations, especially those with high payment auto loans. Concerns about managing their monthly bills can also lead to a high amount of stress. In such situations, "skip-a-pay" services [...]
Having just entered 2024, the financial industry is ready for significant transformations and innovations, although there will be many challenges ahead. From increasing cybersecurity threats and fraud to the search for new accountholders and an uncertain economy, financial [...]
Explore firsthand experiences from our incredible customers. Leading financial institutions nationwide partner with Tyfone to achieve strategic objectives, retain accountholders, acquire new business, and turn their vision into reality. Check out the videos - their stories speak volumes about [...]
In this dynamic and fast-paced era, the expectations of customers have evolved, compelling financial institutions to adapt and provide services that streamline banking operations while prioritizing efficiency for their users. The popularity of digital [...]
Digital banking is always evolving, transforming the way we manage our finances. Every year new technologies surface that redefine the banking experience, promising more convenience, security and efficiency for accountholders. As we step into [...]
Keith Riddle, SVP of Business Development at Payfinia, made an appearance on the VentureTech 2023 podcast. He offered insights into the future of payments, emphasizing how Credit Unions can strategically modernize and level the playing field with larger [...]
A point solution is any software that’s designed to address a single use case or solve one specific business challenge. Tyfone’s Skip-a-Pay digital banking solution is a classic example of a point solution. It was [...]
Siva Narendra PhD CEO & Co-founder Tyfone On July 20, 2023 – the very day the Federal Reserve’s FedNow payment service launched – Tyfone, with the help of Star One Credit Union, became [...]
As the definition above implies, DeFi is not necessarily the friend of community financial institutions. In its purest form, it seeks to completely eliminate the need for traditional FIs in much the same way that [...]
Before we get into what cryptocurrency is, it’s important to clarify what cryptocurrency isn’t. Specifically, cryptocurrency is not blockchain. The two are connected at the hip, but you can’t use these terms interchangeably. Simply stated, [...]
To understand distributed ledger technology, or DLT for short, you first need to understand the difference between blockchain and cryptocurrency. It’s easy to conflate these two, so let’s be very clear. Blockchain is a technology [...]
This may seem like a simple enough definition. However, within its confines lies two completely opposite business models. Exactly how you describe BaaS beyond this definition depends on who is supplying the digital services and [...]
Do you remember about 20 years ago or so when account aggregation first became a thing? Various companies, known as account aggregators, allowed consumers to view their accounts from multiple institutions on a single screen. [...]
Jay Tkachuk Chief Digital Officer Golden 1 Credit Union You can achieve amazing things if you have a very audacious, bold goal and coherent vision to motivate your team and push your team [...]
Aaron Wollner Chief Marketing Officer Quontic Bank If you want to develop a brand voice and connect with a broader audience, it has to be authentic.Great ideas are measured, in part, by how excited [...]
Austin Adams Retired Chief Information Officer JP Morgan Chase If you are a community bank, there is no reason to fear for your survival. Big banks are not your competition because they are [...]
Ben Maxin Chief of Digital Strategy & Innovation Michigan State University FCU If you want to attract younger consumers, you must innovate. You can use products or services from one vendor or expand [...]
Danny Payne Sales Director of Digital Experience Jack Henry Fintech is a highly competitive space. But one vendor can't be everything for everyone. Sometimes collaboration between competitors is the best solution. Community FIs [...]
Kareem Refaay Managing Director The London Institute of Banking & Finance You can improve a process and business, but you can change someone's life through education. If you want to make a difference [...]
By all accounts, the 2023 edition of the CUNA Governmental Affairs Conference (GAC) was a rousing success. In 2022, people seemed understandably apprehensive, but this year, it was full steam ahead for both attendees and [...]
Ron Shevlin Chief Research Officer Cornerstone Advisors If you want to work on the digital transformation of your financial institution, focus on digitizing the infrastructure, not the culture. As an FI, you have [...]
Bill Kinnelly CEO KGA Advisory, LLC Accountholder expectations continue to evolve, and it's up to FIs to keep up. If a vendor wants to compete in a saturated financial landscape, they need to [...]
Sabeh Samaha President & CEO Samaha & Associates At the user experience level, community financial institutions are competing with every other organization, financial or otherwise. That's why FIs need to meet consumers where [...]
Chris Sachse CEO Think|Stack Brian Murphy Partner Strategist, Nonprofit Organizations AWS If you want to keep up with the rapidly evolving tech landscape, you should leverage the cloud to [...]
Jeff Keltner Senior VP of Business Development Upstart Don't look at digital transformation as another business objective you must reach. Instead, use it to create new processes and enhance existing ones. Don't run [...]
Mark Sievewright Founder Sievewright & Associates Digital transformation required a focus on four areas: people, data, technology, and process. Data is the most valuable asset credit unions have. Therefore, one objective of any [...]
Bryce Deeney Co-founder & CEO equipifi When it comes to banking, customers expect a reliable, frictionless experience. First we need to define what frictionless means in the world of technology and software. If [...]
Kristin Harrison Director of Business Development Web Strategies Digital marketing has become more vital than ever. If you want to stand out in a saturated market, get ready to improve your marketing strategies [...]
Nick Coleman Director of Strategic Partnerships Children's Miracle Network Hospitals Credit unions across the country joined forces to raise funds to help children's hospitals deliver a better experience for kids. Over the past [...]
Michael Murdoch Marketing Manager Wauna Credit Union Many credit union marketers have become obsessed with younger demographics. Is that because of the potential millennials have or just because of the financial impact they [...]
Shaun Murray President & CEO Enhanced Software Products (ESP) Community FIs should rethink the way they are doing due diligence. Otherwise, they risk missing profitable opportunities, especially from a technological standpoint. Asking [...]
Josh DeTar EVP of Evangelism Tyfone and Host of The Digital Banking Podcast Ask a thousand kids what they want to be when they grow up and I guarantee not one of them [...]
Mike Crofts President Maple Street Inc. Too many people assume they're pros at negotiation. But even some of the best leave money on the table when get distracted by too many features. Buying [...]
Dion Lisle Managing Partner Forty Grand Consumers are looking for different things from community financial institutions, but FIs aren't meeting them with interesting and accurate marketing campaigns to forge a long-term, meaningful relationship. [...]
Tyfone had the pleasure of participating as a Platinum Sponsor at American Banker’s Digital Banking Conference, held in Austin June 12-15, 2022. As one might expect from a conference of this size and magnitude, [...]
Trey Maust Co-Founder & Executive Chairman Lewis & Clark Bank Community financial institutions (CFIs) are customer-focused. They are in direct touch with the community, helping people accomplish their financial goals. CFIs are not [...]
It’s generally accepted that, with a core data processing conversion in first place, a digital banking conversion is the second biggest technology project your financial institution will ever undertake. There is, however, one big [...]
Eric Isham CEO Omnicommander Credit unions excel in the financial side of the business, but they are not as successful with branding and marketing. The lack of engagement in these spheres may result [...]
Gideon Taub Founder Pinkaloo Pinkaloo charitable giving platform aims to solve two significant barriers to philanthropy: discovery and donation management. To achieve this vision faster, the company was recently acquired by RenPSG. Founder [...]
App reviews are clearly important. According to research from Apptentive, 50% of mobile users won’t consider an app with an average rating of 3 stars. That percentage explodes to 85% for a 2-star average rating. [...]
Mark Sommer COO ProMedica Federal Credit Union Credit unions can’t attract the next generation of consumers by trying to sell the same value props that appealed to their parents. “Technology and compliance are [...]
In honor of May the Fourth, a.k.a., Star Wars Day, we’ve assembled the top five quotes from the great Jedi master Yoda that community FI technologists can use to guide their businesses forward and achieve [...]
Over the past five years, tyfone has doubled down on its commitment to providing Dramastically Better Digital Banking™ to community FIs. Some may remember us as “the security company” or the “mobile payments company.” [...]
While a digital banking conversion is one of the two biggest technology upgrades your financial institution can make (the other being a core conversion), tech projects large and small share some common characteristics – and [...]
You talked with your peers. You sat through the demos. In short, you did your due diligence. You chose the perfect digital banking platform for your credit union and signed all the contracts. Now the [...]
With the possible exception of a core data processing conversion, a digital banking conversion is the most impactful technology project your financial institution can undertake. The benefits of upgrading your technology are significant, but [...]
Technology is wonderful. You’ve probably thought that yourself more times than you can remember. If you were around in the PD (pre-digital) era, you know how hard life used to be. To make a phone [...]
There are typically multiple areas that need to line up for a digital banking provider to be the right partner for you. Elements such as business model, philosophy, and culture may be considered. At the [...]
Adrian Quince Assistant Manager Redwood Credit Union Unlike other financial institutions, credit unions are known for being consumer-oriented and putting their members first. We shouldn't have to choose between convenience and security in [...]
Tim VanTassel VP, Head of Product Management FICO® Applied analytics technologies like the ones offered by FICO can help community financial institutions turn their own data into actionable information that drives better customer [...]
Every technology buyer knows that price represents only part of the Total Cost of Ownership, or TCO, of any solution. There are in fact four components to TCO: quality, service, delivery and, of course, price, [...]
Amber Harsin CEO CUProdigy A core technology provider like CUProdigy can help credit unions manage user experiences, aggregate data, and find opportunities to help members. Traditional banks offer convenience to beat out credit [...]
Merle van den Akker Behavioural Science PhD Money On The Mind Questioning Behaviour Consumers increasingly demand convenience, even though research shows convenience can cost a lot — literally. Behavioral scientist Merle van den [...]
How much does it cost? That’s an important question for any technology purchase decision. While the question may seem simple, the answer is more complex. That’s because there are a number of ways to evaluate [...]
Everyone builds features, not everyone builds relationships. We build both! In a world where remote delivery has become the norm, it’s more important than ever for community-centric financial institutions (FIs) to choose the right [...]
