As a generation who has been raised online begins its financial journey, digital demands on financial services will begin exploding.by: Nate WentzlaffThe credit union industry is the middle of a digital revolution. As technological innovations continue, members will shift toward digital channels to interact with their credit union. Basic transactions continue to take place though online and mobile banking channels where members can take control of their financial needs. Depositing checks, transferring money, and paying bills can all be accomplished through this channel. Members no longer need to rely on the branch for basic transactions. The main drivers of digitization are the millennials who were born at the advent of the internet. Their lives have been surrounded by the interconnected digital world. Consequently, they will demand a digital credit union that meets all of their financial needs when (and where) they need them.Online/Mobile BankingOnline and mobile banking has revolutionized how the world banks by opening endless opportunities for innovation. For example, the camera was imbedded into the smartphone to give customers the ability to take pictures. Now, the camera has turned into a self-service bank teller. Credit union members can reach into their pocket and complete transactions that previously needed a physical branch. For most millennials, going to the branch is seen as a chore. Branches are usually over-crowded at the time members can make it in. Waiting in line to deposit a $100 check is yesterday’s problem. Now, it is as simple as taking a picture and depositing the check through a mobile app. The online/mobile platform has arrived just in time to meet millennial membership demand. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
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Source: SigedisIn other news, Belgium’s larger house of parliament has voted to allow those who work for longer than 45 years to accrue additional pension rights. At the moment, workers can only accrue a maximum of 45 years’ worth of pension rights.The reform will take effect from January and follows through with a recommendation of the Pension Reform Commission 2020-2040, a panel of experts appointed in 2013 by the then government.Bacquelaine said: “Our pension system must encourage the pursuit of professional activity but must also better reward the work done. From now on, all years of actual work will be taken into account in calculating pensions.” The online service was introduced in January 2016. Initially it allowed users to consult their career data and find out when they could claim their pension. Since December 2016 those accruing occupational pension rights have been able to look up the second pillar entitlements they had built up. The equivalent is now possible for the unfunded state pension. Steven Janssen, managing director of Sigedis, which is responsible for the second pillar part of mypension.be, said the evolution of the state pension functionality on the site had encountered issues relating to pre-2016 reform that introduced changes to the state pension age. “It introduced an element of individualisation so there was a fair amount of confusion among the populace,” he told IPE. “As a result it was decided to focus our efforts on the pension age.”Also, changes to how the state pension was calculated were being introduced at the time, so those behind mypension.be decided it was not worth trying to model something that could soon be redundant. Announcing the fresh changes, the Belgian pensions minister Daniel Bacquelaine said: “Until recently, citizens were often unaware of the reality of their pension rights and had to turn to different services depending on their professional status. The implementation of the pension engine has significantly improved a citizen’s digital information about pension rights, regardless of the occupational scheme to which he is affiliated.”He noted that the mypension.be platform had been visited more than 6.7m times as of 20 November. The federal pensions service today announced there had been almost 500,000 unique visits to the website since the changes were announced less than a week ago.What’s the background? The mypension.be website is the outcome of collaboration between several federal pension organisations and Sigedis. Sigedis is a non-profit organisation created in 2006 by the Belgian government to collect declarations from all second pillar pension providers for the purpose of maintaining an occupational pensions database. The database, DB2P, became operational in January 2011. It is the data engine behind the mypension.be portal and other outputs, such as pension institutions’ individual benefit statements and letters to pensioners (see below for a workflow depiction).More than 200 providers declare information to the database. An English-language domain name was chosen to avoid having to register domains in all three of Belgium’s official languages (Flemish, French and German). The Belgian pension portal mypension.be is expanding, the country’s pensions minister has announced.From now on, users will be able to consult the website to find out the estimated amount of their state pension. From March next year they will also be able to use the website to calculate the impact of new rules allowing people to buy back years spent studying to count for their pensionable service.The mypension.be platform will also evolve to allow individuals to check the effect certain career choices would have on their pension. This feature is to become available from 2019.
Nadine Lustre’s phone stolen in Brazil Dolphin, a fan favorite who is also Iowa’s football play-by-play man, apologized in a statement released Friday.“During the broadcast, I used a comparison when trying to describe a talented Maryland basketball player. In no way did I intend to offend or disparage the player,” he said. “I take full responsibility for my inappropriate word choice and offer a sincere apology to him and anyone else who was offended. I will use this as an opportunity to grow as a person and learn more about unconscious bias.”Iowa’s athletic department released a statement supporting Dolphin’s suspension, saying it “values diversity and is committed to creating a welcoming environment for all members of its campus community.”ADVERTISEMENT Ginebra beats Meralco again to capture PBA Governors’ Cup title LATEST STORIES Japeth Aguilar wins 1st PBA Finals MVP award for Ginebra Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Fernando had 11 points and 11 rebounds, including a go-ahead putback with 7.8 seconds left, to help No. 24 Maryland beat Iowa 66-65 on Tuesday night in Iowa City. In describing the game’s closing moments, Dolphin said the 6-foot-10, 240-pound African-American who was born in Angola “was King Kong at the end of the game.”This is the second time that Dolphin has been suspended this season.FEATURED STORIESSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissSPORTSCoronation night?SPORTSThirdy Ravena gets offers from Asia, Australian ball clubsHe sat out two games after being caught on an open microphone criticizing Iowa guard Maishe Dailey in a win over Pittsburgh in late November. Coach Fran McCaffery called Dolphin’s comments about Dailey “inexcusable,” and this incident could further enflame tensions between the two.Jim Albracht will replace Dolphin for the rest of the season. Bobby Hansen, Iowa’s color commentator, will continue in that role. Ginebra beats Meralco again to capture PBA Governors’ Cup title Sports Related Videospowered by AdSparcRead Next Don’t miss out on the latest news and information. Maryland forward Bruno Fernando (23) drives past Iowa guard Connor McCaffery during the second half of an NCAA college basketball game Tuesday, Feb. 19, 2019, in Iowa City, Iowa. Maryland won 66-65. (AP Photo/Charlie Neibergall)IOWA CITY, Iowa — Iowa play-by-play announcer Gary Dolphin was suspended Friday for the rest of the season for referring to Maryland’s Bruno Fernando as “King Kong” during a game.Hawkeye Sports Properties, the multimedia rights manager for Iowa’s athletic, announced the move just hours before the 21st-ranked Hawkeyes hosted Indiana.ADVERTISEMENT Will you be the first P16 Billion Powerball jackpot winner from the Philippines? Eugenie Bouchard’s bid for Australian Open spot ends in qualifying MOST READ For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. Rogue cops marked as Gamboa’s targets in his appointment as PNP chief Tom Brady most dominant player in AFC championship history Dustin Johnson builds 2-shot lead in Mexico as Tiger Woods rallies Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college View comments