Ron Daly, President/CEO
Virtual StrongBox, Inc.
Source: https://www.cbinsight.com/68679.html

We’re lucky today. There are so many ways that technology takes the hassle out of daily life. With a few finger taps, we can buy airline tickets, check the weather, settle a bet, pay bills, and control lights and thermostats from anywhere. So, why do we still perform antiquated bank processes that cost everyone time and money? More to the point, how long will our customers put up with it?

Pushing paper costs time and money

Take mortgage lending, for example. For consumers, buying a home is one of the most paper-intensive processes they face. We know […]

Ron Daly, President/CEO
Virtual StrongBox, Inc.
Source: http://www.cutoday.info/THE-tude/To-Your-Battle-Stations-Protect-Member-Data

In military circles, they talk a lot about being “combat-ready” – words we don’t usually associate with our industry. But it’s time to take this term to heart, equipping our credit unions and training our members to defeat online thieves.

Just this year we’ve seen a billion-dollar, multi-bank cyberheist, three health insurance breaches, major hacks into military and government, and the list goes on. How did they get away with it? Improperly handled data transfer to a non-accredited data center, unencrypted health care data and employees duped into phishing schemes, to name a few. In every […]

By Ron Daly, President/CEO
Virtual StrongBox

Remember the old saw about hindsight being 20/20? Or, as filmmaker Billy Wilder put it, “Hindsight is an exact science.”

Yes, when something goes wrong, we generally know what we should have done … looking back. But people aren’t especially good at predicting the future. That’s why Hong Kong-based Deep Knowledge Ventures elected VITAL – a computer algorithm – to its board of directors last year. “VITAL” helps the company avoid pitfalls mere humans may have missed.

So, here’s my question: Do we need an algorithm to tell us there will be more and bigger cyberattacks on banks and […]

By Ron Daly, President/CEO
Virtual StrongBox

Everybody’s talking about Millennials. Ask any marketing professional, and you’ll be told Millennials are the target audience.Pick up a B2B magazine, and there they are. And in the banking industry, where the average customer’s age is about 50, discussions center on how vital these 18-34 year olds are to your institution’s long-term survival.

Of course, banks have always been more or less available to young adults; they just weren’t a very lucrative demographic. There were plenty of more profitable accounts to service, and it wasn’t that easy to change banks. Now, that’s changed. The 80-million-strong Millennials have money […]