►
From YouTube: Case Study: Credit Unions Adopt Decentralized Identity – Successes... Julie Esser & Chris Kearney
Description
Case Study: Credit Unions Adopt Decentralized Identity – Successes, Challenges and Lessons Learned from MyCUID Pilot Programs - Julie Esser, CULedger & Chris Kearney, TruWest Credit Union
Data security, particularly around identity, has become a major concern for consumers everywhere due to ongoing data breaches and waves of identity. In the financial industry, digital identity protection is especially crucial. Innovative credit unions have collaborated to develop CULedger, a credit union service organization offering MyCUID, a consumer-focused global digital identity solution.
Join CULedger and leaders from credit unions currently utilizing MyCUID to learn about the lessons learned during implementation, how success was defined throughout the pilot programs and key takeaways that can be applied to any SSI initiative. Attendees will also hear how this technology has helped credit unions better manage Know-Your-Customer regulatory requirements, expedite identity verification in-person, on the phone and online, and enhance the overall security and protection of credit union members.
----
Hyperledger – Open Source Blockchain Technologies
Hyperledger is an open source community focused on developing a suite of stable frameworks, tools and libraries for enterprise-grade blockchain deployments.
It serves as a neutral home for various distributed ledger frameworks including Hyperledger Besu, Fabric, Sawtooth, Indy, as well as tools like Hyperledger Avalon, Cactus and libraries like Hyperledger Aries, Ursa. Learn more about Hyperledger projects: https://www.hyperledger.org/use
Case Studies: https://www.hyperledger.org/learn/case-studies
Training & Certification: https://www.hyperledger.org/learn/training
Tutorials: https://www.hyperledger.org/use/tutorials
Webinars: https://www.hyperledger.org/learn/webinars
Events: https://www.hyperledger.org/events
Vendor Directory: https://www.hyperledger.org/use/vendor-directory
Subscribe to the Hyperledger Newsletter: https://www.hyperledger.org/newsletter
Follow-us on Twitter @Hyperledger
Learn about Hyperledger Membership: https://www.hyperledger.org/about/join
#Hyperledger #HyperledgerGlobalForum2020 #Blockchain
A
Morning,
everybody
welcome
to
the
first
breakout
session
of
the
conference.
My
name
is
Julie
Esther
and
I
am
chief
experience
officer
with
CEO
ledger
I'm
excited
to
be
here
today.
We
have
30
minutes
to
spend
with
you
to
kind
of
give
you
a
brief
update.
How
many
of
you
were
at
last
year's
global
forum
and
heard
me
speak
awesome.
A
Some
new
faces
in
the
audience
definitely,
and
what
Chris
and
I
Chris
tonight,
Christy
and
I
are
gonna.
Do
a
little
tag
team
for
you
today
and
share
with
you
what
the
credit
union
industry
is
doing
as
released
as
a
centralized
identity.
How
many
in
the
room
are
familiar
with
credit
unions
awesome
those
are
not
familiar
with
credit
unions.
We
are
fine
and
non-for-profit
financial
cooperatives,
they're
called
credit
unions
in
the
u.s.,
primarily
probably
more
financial
cooperatives
outside
of
the
US.
We
are.
B
A
A
So
just
a
little
bit
of
background
about
Cu
ledger
for
those
of
you
that
may
not
be
familiar.
We
began
in
early
2016
as
a
simple
researched
action
project.
There
was
a
lot
of
lot
of
talk
as
know
about
blockchain
and
decentralized
identity
at
that
time
and
allowed
to
talk
about
cryptocurrency.
Also
and
cardi.
A
So
we
had
three
credit
units
that
we
worked
with
in
developing
pilots
and
use
case
and
I'll
talk
specifically
more
about
them
in
a
few
minutes
and
that's
what
kind
of
got
us
here
last
year
was
spend
a
lot
of
time
on
focusing
on
deployments
and
pilots
this
year
is
our
focus
is
on
commercialization,
we're
open
for
business.
We're
ready
to
go.
We
were
getting
credit
unions
signed
up
on
this
and
starting
their
implementations.
A
A
So
Cu
ledger
has
an
organization
we're
not
just
a
centralized
identity,
we're
a
network
of
peer-to-peer
digital
exchange,
so
we
are
focused
on
all
three
components
of
the
transaction,
not
just
a
centralized
identity,
but
we're
calling
trusted
information
in
leveraging
smart
contracts
for
that
and
then
also
in
digital
value,
in
particular
settlement
and
cross-border
payments.
But
our
primary
focus
is
right.
Here
is
in
the
centralized
identities
and
decentralized
credentials,
because
that's
where
it
all
starts
right.
Every
interaction
a
credit
union
has
has
to
start
with
identifying
who
they
are
and
that's
where
our
focus
is.
A
So
let's
talk
a
little
bit
about
our
problem
that
we're
trying
to
solve
so
from
a
consumer
standpoint.
I
guess
you
I
think
you
all
can
probably
relate
to
this
right.
The
frustration
of
you
know
having
too
many
passwords
getting
forced
out
of
your
accounts.
Having
your
data
compromised
I
mean
we
are,
we've
all
been
victims
of
something
along
this
chart
any
one
of
these
bullets
sometime
in
our
lives
right
and
the
the
frustration
we
can
sense
from
that
guy,
you
know,
is
very
relative
to
our
story
and
the
credit
union
side.
A
Okay,
now,
if
we
look
at
the
existing
member,
once
you
become
a
member,
you
have
access
to
your
transactions,
either
through
the
branch
contact
center
or
online
and
again
all
three
of
these
different
channels
or
we
acquire
its
own
authentication
process.
So
it's
a
mess.
It's
no
wonder!
We
get
confused
and
frustrated
as
a
consumer,
but
we
make
it
miserable
for
our
members
to
do
financial
transactions
and
we're
not
alone
any
any
bank.
Any
other
financial
institution
in
this
space
probably
has
the
same
type
of
issue.
A
So
we
can
dig
a
little
deeper
in
this
in
terms
of
the
information
that
we
gather.
So
if
we
break
it
down
into
you,
know
new
members,
what
information
are
we
collecting?
What
are
we
doing
from
a
credit
union
standpoint
to
verify
that
member
information-
and
you
can
see
a
lot
of
inconsistencies
here
in
this
chart?
A
There
is
some
old
technology
being
used,
there's
a
lot
of
manual
process
involved
in
this
on
the
new
member
side
or
the
existing
member
side.
You
know
there
that
authentication
can
vary
based
on
the
type
of
transaction
that
you
perform
with
the
credit
union.
If
they
consider
you
high-risk
or
not,
you
know
the
the
online
methods,
the
online
username
and
password
and
out-of-band
codes.
They
don't
work.
A
As
my
C
UID,
we
have
rebranded
mice
UID
to
what
is
now
known
as
member
paths,
and
quite
simply,
the
value
prop
of
member
paths
is
the
simplest
and
most
secure
way
for
credit
unions
of
verify
their
members
regardless
of
channel
period
and,
of
course,
those
of
you
that
are
very
familiar
with
hyper
ledger
in
D
and
that
initiative.
You
know
the
benefits
of
this
project
right
is
allowing
consumers
to
have
ownership
and
control
their
personal
identifiable
information,
and
what
better
way
of
doing
that
is
is
with
the
credit
unions.
A
A
Predators
are
taking
advantage
of
frontline
staff
to
do
harm,
that's
what
it
boils
down
to
mobile
authentication.
So
we
have
a
credit
union
that
has
their
own
mobile
banking
application.
They
don't
use
a
third
party
for
that
and
we're
able
to
easily
integrate
into
the
back
end
of
that
mobile
banking
application
patience.
So
it's
completely
seamless
for
the
member.
They
don't
even
know
that
there's
a
member
past
credential
exchange
happening
on
the
backend
boys.
Banking
is
another
interesting
opportunity.
A
So
how
many
of
you
guys
have
Alexis
I
know
the
number
of
smart
devices
that
I
have
in
my
house
keeps
growing
and
growing,
and
growing
and
they're
great
tools.
They're
great
utilities.
However,
from
a
financial
standpoint,
there's
a
lot
of
limitations
without
any
type
of
authentication
method.
There's
only
certain
things
that
you
can
do
on
those
devices,
you
can
only
check
balances
and
things
like
that.
You
can't
transfer
funds
or
pay
bills
or
anything
like
that
without
a
higher
degree
of
authentication.
A
So
this
voice,
banking
application
on
the
use
case,
is
kind
of
fun
and
interesting,
and
we've
embedded
my
CEO
a
tour
member
past
into
the
front
end
of
that
process
as
a
Attic.
A
station
method
to
allow
consumers
not
have
to
worry
about
vocalising,
usernames
and
passwords,
but
they
can
use
their
their
member
pass
credentials
just
to
auth
authenticate
and
get
access
to
those
funds,
and
then
we
have
some
other
use
cases
that
we're
exploring
we're
exploring
a
share.
Kyc
component.
A
But
it's
not
only
just
kyc.
It's
also
know
your
supplier,
it's
also
KY
M.
That's
the
latest
acronym
that
I've
heard
you
know
what
K
Hawaii
M
is
know
your
machine.
So
when
you're
talking
about
autonomous
lending
autonomous
vehicles
autonomous,
you
know
Alexis
devices-
that
is
the
note
new
buzzword
of
KY
m,
know
your
machine
from
our
pilot
experiences.
Last
year
we
were
very
focused
on
these
deployments.
The
the
technology
itself
was
proven.
We
needed
some
user
acceptance
to
help
us.
A
In
this
year
we
had
three
credit
unions
step
up
to
the
plate
and
help
us
in
our
pilots
and
defining
what
these
use
cases
are,
and
we
do
have
large
credentials
live
production
credentials.
Most
of
them
have
deployed
in
their
employee
base,
because
most
employees
are
also
members
of
the
credit
union
as
well,
and
there
are
a
lot
of
different
learnings.
We
made
a
lot
of
changes
into
the
user
experience
with
the
tool
and
we
use
the
Kinect
at
me.
A
Digital
wallet,
that's
provided
by
Evernham
to
facilitate
the
member
pass
credential
and
I'll
get
into
a
little
bit
some
some
of
these
learnings
next
into
a
little
bit
more
detail.
But,
overall,
from
a
key
learning
and
awareness
standpoint,
we
know
that
the
industry
is
right
for
this.
We
know
that
identity,
cross-border
payments,
kyc
are
tremendous,
valuable
use
cases.
Interesting
to
note
is,
is
four
years
ago
we
our
conversation,
centered
a
lot
around
the
use
of
blockchain
technology.
A
Now
I
would
say
that
our
conversations
are
probably
10%
of
that
of
that
conversation,
you
know
before
people
we
heard
about
blockchain,
they
were
people
were
afraid
to
talk
about
it.
They
there
was
a
lot
of
unknowns,
but
I
think
things
have
kind
of
simmered
down
a
little
bit
and
and
realized.
This
technology
is
not
any
different
than
what
I'm
using
today.
I
really
don't
have
to
know
they,
the
details
and
and
the
specifics
of
how
it
works.
I
just
know
it
works.
A
From
a
member
of
standpoint,
we
got
a
lot
of
great
feedback
in
terms
of
member
experience,
better
security,
a
lot
of
that
really
resonated
with
them,
and
this
is
where
the
rebranding
came
in
and
that
came
from
our
consumer
testing
as
well.
So,
in
the
credit
union
space,
if
you're
familiar
with
credit
unions,
we
are
are
known
heavily
for
acronyms
the
use
of
acronyms.
So
my
CI
D
was
intended
to
be
my
C.
A
You
would
be
credit
union
Idid,
identify
a
ship
and
the
consumer
end,
they
really
don't
care
and
they
didn't
have
the
appreciation
that
we
do
in
the
industry
for
those
type
of
acronyms
and
so
oftentimes.
It
was
called
my
cute,
and
so
we
knew
that
that,
like,
oh,
that
was
just
disastrous.
So
we
had
to
do
something
different
and
that's
what
resulted
in
the
rebranding
a
member
passed,
and
quite
honestly,
that
was
probably
the
best
move
we
could
have
ever
made
in
this
journey.
A
So
far
is
changing
the
name
of
that
product
they're
still
affiliation
with
credit
unions,
because
because
member
refers
to
credit
union
members
as
consumers,
but
you
can
be
a
member
of
anything-
you
can
be
a
member
of
a
network.
It
could
be
a
member
of
a
lot
of
different
things
and
then
the
use
of
pass.
We
want
to
incorporate
some
some
analogy
like
the
use
of
a
passport.
A
You
use
your
passport
for
a
lot
of
different
ways
to
authenticate,
and
so
that's
why
we
incorporate
member
paths
together
and
Chris
is
gonna
get
into
a
lot
of
his
learnings,
but
from
a
co
ledger
standpoint,
mass
adoption
has
been
slow,
there's
no
know
you
know
hiding
that
there
are
a
lot
of
different
dynamics
in
the
credit
union
space.
We
are
heavily
reliant
on
third
party
organizations
to
provide
services
to
our
members.
That
also
results
in
the
need
to
integrate,
and
so
you
know
that
has
called
some
slow
down
for
us.
A
The
enrollment
and
authentication
process
really
seemed
to
be
complicated
and
confusing.
Again,
we've
made
a
lot
of
strides
in
the
user
acceptance
and
we
had
a
lot
of
adjustments
to
that.
Chris
will
share
with
you
some
of
some
screenshots
of
the
user
interface
that
his
members
see.
We
changed
our
pricing
model.
We
were
in
the
in
the
gates
with
a
more
transaction
based
pricing
model.
A
I
mentioned
already
something
about
the
integration
process
and
also
in
the
identity
occasion
of
new
account,
acquisition
or
onboarding
is
a
huge
opportunity
for
credit
unions
as
well,
and
this
is
why,
if
you
remember
that
chart
at
the
very
beginning
that
show
the
different
channels
that
you
can
use
to
become
a
new
member
and
the
different
processes
that
credit
unions
had
for
each
one
of
those
channels.
This
is
how
we
can
streamline
this.
A
A
C
Can
everyone
hear
me
okay?
Yes,
all
right,
my
brother
would
be
proud.
He
does
AV
work
for
a
living.
I
successfully
turned
on
the
mic.
It's
nice
to
see
all
of
you
this
morning
and
thank
you
for
having
me
in
your
form,
I'm
looking
around
the
room
and
and
just
by
show
of
hands
how
many
technology
technologists
engineers
developers,
okay
about
half
and
then
how
about
management.
C
Folks,
like
me,
another
half,
ok,
the
sport
coats,
give
it
away
I
think
in
most
cases-
or
at
least
they
do
in
our
shop,
want
to
share
a
little
bit
about
how
we're
applying
distributed,
ledger
technology
and
the
credit
union
space
of
it,
but
really
get
into
what
is
the
problem
we're
trying
to
solve?
And
what
have
we
learned
in
this
early-stage
adoption
I've
been
in
the
credit
union
space
for
16
years
and
and
I
would
say,
for
the
majority
of
that
I
would
describe
the
credit
unions.
C
I
worked
for
as
mainstream
adopters
of
technology,
maybe
even
trailing
adopters.
Credit
unions
by
nature
are
very
conservative
institutions
and
one
of
the
most
exciting
things
about
participating
in
C
Ledger
in
the
member
past
pilot
is
to
watch
credit
unions
step
forward
into
a
more
aggressive
place
right
and
we
are
smaller
institutions.
So,
just
a
little
bit
about
true
West,
we
are
a
1.2
billion
dollar
institution
credit
union
that
was
founded
by
Motorola
employees
in
1952,
so
we've
groaned
over
90,000
members.
C
But
if
you
think
about
that
in
terms
of
Wells,
Fargo
or
B
of
a
or
chase
right,
we're
just
a
small
regional
institution
right,
there
are
20
folks
that
do
technology
work
inside
of
true
West.
We
have
260
employees
over
all
many
of
them
focused
on
serving
our
members,
so
for
us
to
step
out
and
say:
hey,
let's
attack,
distributed,
ledger
technology
and
think
about
how
that
might
make
life
better
for
our
members
and
employees.
C
That's
a
really
big
thing
and
something
I'm
very
excited
about,
but
at
the
end
of
the
day,
if
you
don't
do
business
with
a
credit
union,
just
think
of
the
relationship
you
have
with
your
bank
right
everything
you
do
today
from
your
mobile
app
to
depositing
checks
to
visiting
the
ATM
to
getting
a
home
mortgage
or
perhaps
wealth
management
services.
Those
are
all
things
that
we
do
today.
C
So
what's
our
problem
and
and
what
are
we
attacking
here?
First
of
all,
this
you
know
this.
This
bad
guy
is,
after
your
money,
not
really
after
my
money
right
after
your
money,
your
money's
on
deposit
with
the
credit
union
and
the
fraud
has
shifted
in
recent
years
towards
the
phone
channel.
Frankly,
our
firewalls,
our
mobile
security
and
our
technology
has
is
drastically
improved,
it's
harder
and
harder
to
compromise
your
accounts
electronically
in
our
world
today,
but
it's
relatively
easy
to
take
an
18
or
20
year
old,
teller
or
an
18
or
20
year.
C
Old
contacts
interrupts
and
convince
them
to
give
the
bad
guy
access
to
your
money.
So
that's
the
problem
that
we're
trying
to
solve
and
credit
unions
are
bold.
They
contact
the
credit
union
frequently
they
have
access
to
more
information
than
they
ever
have
their
identity,
theft
and-
and
you
are
ultimately
the
target
so
we're
working
to
protect
you
through
initiative.
C
We
wanted
to
start
small
in
something
that's
a
tangible
problem
and
we
have
high-risk,
high-value
transactions
in
the
credit
union
that
we
need
to
protect.
Our
members
may
have
started
with
motorola
early
in
their
career
here
in
the
valley,
but
now
they
might
live
in
any
one
of
our
50
States
or
around
the
world,
so
branches
are
only
in
Arizona
or
Texas.
So
if
you
want
to
do
business
with
the
credit
union,
often
that's
going
to
happen
over
the
phone.
C
If
it's
a
complicated
transaction
like
a
wire-
and
you
can
see,
the
values
of
these
transactions
are
quite
substantial
right
with
an
average
of
58,000,
and
you
know
if
you're
familiar
with
how
money
moves
within
within
institutions
and
between
institutions.
Once
money
is
wired,
it's
gone
right,
there's
really
very
little
recourse
between
institutions.
So
it's
critical
that
we
get
that
transaction
right.
Currently,
that
process
is
very
painful.
C
So
our
objectives
are
to
reduce
that
fraud.
We
want
to
cut
down
the
authentication
time
in
the
contact
center.
We
spend
a
minimum
of
90
seconds
talking
with
members
to
verify
their
identity.
So
let's
get
into
the
technology
right.
Here's
a
little
bit
about
what
we
deployed,
we're
using
the
connect
me
app
to
and
and
we've
applied
credit
union
branding
on
top
of
that.
So
it's
a
white
label
implementation
of
member
pass,
and
this
is
what
you
would
see
as
a
contact
center
rep.
C
The
first
step
in
the
process
would
be
to
get
them
to
a
member
on
boarded
into
the
system
and
then
to
perform
authentication.
So
we
just
put
together
a
little
widget
within
our
intranet,
app
that
our
context,
center
agents
use-
and
it's
just
really
simple.
We
want
to
put
in
some
basic
member
information
authenticate
that
authentication
message.
Then
it's
going
to
communicate
with
API
s2member
pass
and
the
member
receives
a
message
on
their
phone,
which
you'll
see
in
a
moment
and
and
upon
accepting
that
there's
then
verification.
C
That's
displayed
back
to
the
contact
center
agent
again
1820
year
old
contact
center
agents.
We
want
to
make
this
super
simple
red
checkmark
means
there
could
write
red
X
means
not
so
good.
Ask
more
questions,
but
thank
you
for
the
laughs
in
the
audience
and
and
I
do
for
the
record.
I
do
have
a
17
year
old,
high
school
senior,
so
I
think
I
can
speak
with
authority
on
how
we
need
to
boil
this
down.
C
C
So
you
know
in
doing
and
in
deploying
this
it
was
the
bulk
of
the
work
was
accomplished.
In
a
six
week
pilot
we
were
able
to
deploy
the
platform
very
quickly.
The
only
thing
that
we
built
internally
was
the
user
interface
for
the
contact
center
app,
and
then
we
built
the
integration
between
our
credit
union
data
and
the
member
past
solution.
We
deployed
those
three
environments
you
can
see
here
created
training,
materials
and
educated.
Our
team.
C
We
had
a
pool
of
28,
employee
members
that
we
put
through
that
process
with
multiple
transactions
to
gain
their
feedback
and
then
conducted
a
survey
with
their
feedback,
and
you
can
see
here,
70%
told
us.
The
solution
was
easy
to
use
an
83
percent
said
they
would
adopt
as
a
member.
So
the
feedback
was
pretty
strong
that
there's
a
need
and
a
support
for
that,
but
with
any
pilot
right,
one
of
the
main
objectives
is
to
learn
and
find
out
what
we
can
improve
and
what
we
can
grow.
C
So
some
things
about
the
pilot,
both
on
on
the
a
good
and
constructive
side
having
a
defined
and
specific
use
case,
gives
us
a
clear
problem
to
solve.
So
you
know
in
a
room
like
this,
where
we've
got
leadership
and
management:
architects,
engineers
developers
right
when
we've
got
a
clear
use
case,
we're
all
on
the
same
page
right.
C
We
know
what
problem
we're
trying
to
solve
and
when
you
talk
about
an
average
wire
transaction
of
fifty
eight
thousand
dollars
and
making
sure
that
when
that
money
moves
it's
going
to
the
right
place
everyone's
on
the
same
page,
so
that
was
a
key
learning.
The
second
is
that
the
training
is
essential.
We
have
to
have
everybody
on
the
same
page
with
respect
to
how
the
solution
works
and
when
we're
using
it.
One
of
the
confusing
points
for
our
contact
center
agents
is
they
were
kind
of
switching
back
and
forth.
C
Credit
unions
were
a
lot
of
hats,
so
one
person
might
call
and
be
authenticating
with
member
pass
and
another
person
might
call
and
have
a
traditional
voice,
authentication
process
so
making
a
consistent
experience
is
really
important.
On
the
technology
side,
we
subscribe
to
agile
methodology
practices
and
we
love
this
concept
of
a
minimal
Viable
Product
right
in
the
credit
union
space,
again
conservative
institutions.
C
We
want
to
invest
in
sure
things
right
that
are
gonna
work
rock-solid
the
first
time-
and
this
is
a
space
where
we
said:
okay,
let's
just
get
the
basics
in
place
and
let's
get
that
out
into
production.
Let's
get
in
front
of
users,
get
feedback
and
then
work
to
improve
that.
So
I
would
encourage
you
to
consider
that
going
forward
in
your
implementations
and
then
just
another
thought
here
that
is
perhaps
transferable
to
your
world.
We
have
what's
called
a
core
processor
in
the
credit
union
space.
C
The
core
processor
is
like
the
heart
and
lungs
of
the
technology
infrastructure.
It
processes
all
of
your
financial
transactions
and
is
a
system
of
record
for
all
of
your
member
data.
And
you
know
our
approach
in
the
past
has
been.
You
have
to
integrate
with
the
core
processor
and
if
you
work
in
manufacturing
and
have
a
supply
chain
system,
or
you
have
si
P
or
you
have
a
CRM
system
in
a
service
based
business,
you
all
have
these
critical
systems.
C
That
house
large
amounts
of
data
for
your
organization
and
they're
typically
difficult
to
integrate
with
I
would
encourage
you
to
consider
that
there's
alternate
ways
to
integrate
these
products
and
get
them
up
and
running.
We
found
it
much
easier
to
integrate
with
our
data
warehouse
that
had
up-to-date
data
on
a
nightly
basis.
That's
a
much
more
open
system
to
communicate
with
than
a
proprietary
transaction
processor.
So
just
a
little
bit
about
architecture
and
getting
these
solutions
up
and
running.
C
Take
the
maybe
this
efficient
road
and
not
the
more
complicated
road
and,
lastly,
communities
so
important,
don't
go
it
alone.
We
you
saw
here
today
there's
three
credit
unions
that
participated
in
this
pilot
Julie
and
the
team
at
C
ledger
have
done
an
awesome
job
to
keep
everyone
connected
on
calls.
C
Credit
unions
are
typically
very
cooperative,
we're
not
always
in
direct
competition
with
one
another,
but
I'd
look
for
opportunities
within
your
industry
and
others
that
are
doing
like
work
to
share
information
and
learnings
that
was
so
valuable
to
us,
and
then
you
know,
just
as
we
look
a
little
more
specific
at
the
solution,
we've
got
some
work
to
do
and
Julie
highlighted
some
of
that
in
the
presentation.
The
process
just
has
to
be
simple
right
and
that's
applicable
to
all
of
our
industries.
C
Companies
like
Netflix
and
Amazon
have
set
the
bar
right
and
we
all
have
to
meet
that
in
terms
of
ease
of
user
experience,
decentralized
credentials.
This.
This
is
a
forward-looking
feature
that
we're
finding
member
are
starting
to
ask
us
about
so
with
privacy.
Legislation
like
GDP
are
in
Europe
or
now
California's
new
rules.
We
see
legislation
popping
up
in
Texas
and
Illinois,
where
it's
going
to
there's
going
to
be
an
expectation
that
we
can
relinquish
a
customer
or
members
information
upon
their
request
and
today
that's
very,
very
complicated
but
looking
forward.
C
C
That's
happened
over
a
decade,
so
finding
a
way
to
achieve
critical
mass
at
a
much
faster
pace
is
something
that
we
want
to
accomplish
with
the
solution,
and
then
you
know
one
way
to
accomplish.
That
would
be
to
create
a
bridge
between
our
current
mobile
app
and
the
member
past
solution,
and
that's
currently
where
we
are
today's
we're
exploring
that
opportunity.
C
So,
in
summary,
our
friends
not
going
away
right
fraud
is
has
always
been
a
challenge
and
the
financial
services
industry
and
it
gets
more
complicated
every
year.
So
you
know:
we've
got
to
deal
with
this
trust,
while
credit
unions
have
had
done
an
exceptional
job
of
building
trust
with
their
members.
We
have
to
work
hard
to
maintain
it
and
it's
a
two-way
conversation.
You
know
we
focus
so
much
internally
on
you
know
when
julie
calls,
is
it
julie
right
and
can
we
have
that
interaction
and
verify
our
identity?
C
But,
quite
frankly,
in
a
world
where
we're
getting
spammed
phone
calls,
you
want
to
know
as
a
consumer.
Is
it
really
the
credit
union
right?
So
this
platform
gives
us
an
opportunity
to
have
a
two-way
conversation
to
validate
that
trust.
I
mentioned
a
little
bit
about
privacy
legislation
just
another
side
this.
This
really
happened
just
before
the
holidays.
We
had
a
member
reach
out
to
us
at
the
credit
union
and
and
for
you
know
a
few
reasons
they
decided.
C
That's
could
you
think
about
that
in
your
business
customer
walks
up
and
says,
I
need
you
to
validate
that
you've
deleted
all
of
my
data
within
your
organization.
That's
there's
a
technology
guy,
that's
a
little
scary
to
think
about,
but
a
solution
like
member
pass
gives
you
that
ability
with
authentication
from
day
one
because
the
credentials
are
in
the
end-users
hands
they're
in
the
consumers
hands.
So
this
this
I
think
on
the
horizon
is
going
to
be
very
important
and,
lastly,
technology
just
has
to
play
a
role
in
the
solution.
C
You
know
credit
unions
tend
to
be
smaller
institutions.
They
can
still
do
a
lot
of
things
by
hand,
but
that's
not
efficient.
It
doesn't
scale
right.
So
technology
helps
us
accomplish
that.
Don't
Ford
1132,
so
I
I.
Think
at
this
point,
Julie
and
I
would
love
to
field
your
questions
and
see
what
we
could
help
you
with.
A
Well,
our
first
model
that
we
had
was
very
transaction
based
and
so
Chris
mentions
about
the
conservative
nature
of
credit
unions,
and
so
there
was
a
need
to
be
able
to
feel
comfortable
of
budgeting
so
often
time.
Transaction
based
pricing
is
a
deterrent
because
you
don't
have
control
of
costs
and
min
I.
Don't
know
if
I
want
to
promote
this
because
then
my
costs
are
gonna,
go
out
and
not
even
budget
for
it
and
so
having
an
enterprise
more
subscription-based
model.
You
leave
it
levy,
ated
that
issue.
A
So
there's
a
set
dollar
amount
that
a
credit
unions
can
budget
for.
They
don't
have
to
worry
about
usage,
it's
all
included
as
an
organization
because
we
are
owned
by
credit
unions.
We
are
our
profit-motivated,
but
we're
not
profit
driven,
so
that's
different,
be
so
our
cost
structure
has
to
be
balanced,
with
being
able
to
have
some
quick
adoption
and
pricing
can't
be
a
deterrent.
C
I'll,
take
just
two
angles:
right
first,
is
call
center
talk
time
right
and
is
anyone
called
their
bank
recently?
No
all
right
technology.
Folks
right,
you
try
to
do
it
as
little
as
possible.
If
you
have
I
think
you
would
be
surprised
at
the
number
of
questions
that
you're
being
asked
before
you
can
even
discuss
something
as
a
current
balance.
I
got
a
nod
in
the
back
of
the
room,
so
so
that
in
and
we
have
a
contact
center
of
roughly
30
professionals
right,
so
you
start
multiplying
out.
C
You
know
shaving
30
seconds
or
60
seconds
off
a
call
over
all
the
calls
you
take
that
day
over
all
your
agents
and
the
cost
of
those
agents,
and
it
starts
to
add
up
pretty
quickly
right
and
we're
just
a
small
shop.
So
that's
that's
predominantly
what
we're
looking
at
in
terms
of
saving
cost
in
the
organization
and
then
intangibly.
A
We
really
haven't
touched
it
that
closely.
We've
made
a
couple
of
announcements
of
exploring
announcements
with
different
organizations.
One
are
around
loan
participations
in
particular.
That
is
a
huge
opportunity
for
credit
unions
because
of
their
collaborative
nature,
to
be
able
to
share
or
buy
sell
loans
from
each
other
is
important.
But
what
goes
with
that
is
some
level
of
due
diligence
in
that
transaction
right,
and
so
that
is
one
area
that
we're
gonna
focus
on,
in
particular,
kyc.
The
shared
kyc
component.
A
That's
number
one
on
our
list:
they're
gonna
be
they'll,
have
some
auditing
components
to
that
as
well,
not
only
for
the
credit
unions
themselves,
but
also
for
the
regulator's
that
we
work
with
the
cross-border
payments
component
of
the
value
side.
That's
another
big
prior,
that's
another
big
I!
Don't
call
it
priority,
but
it's
something
of
interest
to
us:
a
higher
higher
set
of
interest
for
us
because
of
credit
unions
like
military
credit
unions,
for
example.
A
Right,
we
have
a
number
of
military
based
credit
unions
in
the
US
that
have
members
overseas
and
they're
they're,
sending
money
back
and
forth
and
things
of
that
nature,
but
also
in
countries
that
are
underserved
and
under
developed.
That's
another
big
area
for
us
and
credit
unions
from
a
philosophical
standpoint
pay
attention
to
yes,
sir.
D
A
That's
awesome,
thank
you
doing
that.
Thank
you.
Actually,
if
you
go
to
member
past
comm,
there
is
a
section
on
a
row
on
our
website
just
for
consumers
at
the
bottom
of
the
page,
we
ask
you
for
just
an
email
and
what
credit
union
belong
to,
and
so
the
purpose
of
that
is
is
to
aggregate
interest
among
consumers
we're
doing
some
secondary
research
with
a
couple
of
credit
union
research
organizations,
for
you
know
some
additional
testing
and
benchmarking,
but
this
information
is
helpful.
We've
got
a
greater
response
going
for
members.
A
A
C
C
Well,
just
one
conversation
we
we've
been
having
it
inside
the
credit
union
is
just
the
recognition
that
you
know
the
dominant
two-factor
authentication
method
that
we
see
in
the
industry.
Now
today
is
SMS
text
right
and
I.
Think
this
technologist.
We
all
understand
that
there's
a
shelf
life
to
that
solution.
So
so
that's
you
know.
When
I
talk
with
our
board
and
our
leadership
team,
that's
usually
the
topic
I
bring
up
is
that
you
know.
Sms
text
is
vulnerable
to
just
a
whole
host
of
issues
right,
and
this
provides
us
a
more
secure
method
right.
C
This
kind
of
number
one
and
then
number
two
from
a
consumer
perspective.
I
always
highlight
that
you're
in
control
of
the
credential.
So
this
isn't
this
isn't
a
case
where
the
credit
union
is
giving
you
something
and
then
you're,
just
like
parroting
back
that
number.
This
is
a
credential
that
you
control
on
your
phone
right.
You
can
choose
to
enable
it
disable
it
and
that's
a
key
differentiator
you're
welcome.