The day the world changed: January 9, 2007. Those that work at a credit union may think back ten years to remember what was happening in the financial services world at the start of 2007. Was this the date when the first large bank collapsed? Was it the passage of new key financial legislation? Something going on with interest rates? None of those things align to that particular date – although it’s important to note that all of those were important trends that were happening around the same time.January 9, 2007 was the day that Steve Jobs announced the original iPhone.In an infamous product launch speech, Steve Jobs said that Apple Computer was announcing three revolutionary new products on that day. First, it was launching a widescreen iPod with touch controls. Second, Apple was also launching a breakthrough mobile phone – and there was a ton of cheering in the room for the phone. And finally, it was launching a breakthrough internet communicator. Again, everyone cheered ecstatically. Masterfully, Jobs then teased the audience about how these three ‘different’ products could be combined, and ended with the brilliant punchline that these three products were actually just one single device. This legendary example of Jobs’ showmanship can be seen in this video.But nobody – not even Steve Jobs – could have predicted the impact that this trifecta device would have. Furthermore, most people would not have guessed that the third product – the ‘internet communicator’ – would end up being the most transformative part of the device. But it did. Now – ten years later – the iPhone is not really used as much of a phone. And while important, the ability to play music or videos is a secondary benefit to the iPhone. Its killer app is that it is a powerful mini supercomputer that you can fit in your purse or pants (and, well, it also happens to make phone calls). And when you combine the power of the internet with the convenience of accessing the sum of all human knowledge in the palm of your hand, that is going to continue be a big deal. Is this the understatement of the year?With access to a smartphone, Credit Union members now practically have an entire branch of a Credit Union in their pocket too. With check depositing capability, the ability to check balances and transfer money, the consumer’s need to step into a branch is a fraction of what it used to be. That is about as disruptive as it comes.But looking back over the last ten years, there is another critical undercurrent too that needs to be noted.With the financial collapse (also starting in 2007), consumers’ distrust of the banking industry skyrocketed. Consumers no longer trusted the ‘experts’ at credit unions to tell them what to do or how to bank. Consumers and members wanted to be empowered to make their own informed decisions around personal finance. While it is true that information on the internet existed before the iPhone, the convenience and ubiquity of the device itself – the ability to check out snippets of information while on the go – meant that you were also only a few finger taps from getting the information you need at any time. As a consumer, you no longer would dare walk into a situation without having at least some information. Now, you can easily pull out your phone on the way to the Credit Union (or the doctor’s office, car mechanic, or department store) and research your options, see feedback from others, and become informed and empowered, before talking to any expert. Why would you approach any decision without being informed?Today’s consumer now expects to ‘know before you go’ in almost any situation. Your members are using their phones to research information and advice on personal finance. Are you providing them what they need?Now – let’s jump to Fall 2017. There are tons of rumors about the new iPhone that is coming, and at the time of this writing, some of this is pure frenzy and speculation. But it is clear that one feature – peer-to-peer payments as part of the update to the phone’s operating system – seems a safe bet to actually launch. Peer-to-peer payments from Apple will again change the game. Yes – there are other peer-to-peer solutions out there. And online bill pay certainly can be used for personal transactions in a similar peer-to-peer way. But given Apple’s market penetration, and often elegant execution of user experience, this is going to be different. The most important feature of the iPhone – its convenience and ubiquity – will make the Apple peer-to-peer solution something truly impactful. The use of cash has been declining for years, but this will be at least one of the final ‘nails in the cash coffin.’ Online sites like Craigslist will be rid of one of the most vexing parts of buying goods from another person – getting cash for a secured transaction. Parents will also be able to pay their children’s allowance with the tap of two phones. Restaurants will no longer need to split since groups can easily settle up between themselves. Electronic payments are now truly liquid.So get ready. Peer-to-peer payments could rival the credit card as far as changing your Members’ spending habits. The next wave of innovation is about to happen. Learn more about how credit unions can optimize their mobile strategy to reach target consumer segments by downloading our white paper. 16SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Steve Rice Steve Rice is Executive Vice President of Financial Education at EverFi, the nation’s leader in Financial Education. He is based in Washington DC and has a career in technology, … Web: everfi.com Details
Share GentingBet streamlines web and mobile platforms with revamp May 15, 2020 Related Articles Submit Share StumbleUpon SBC Magazine Issue 8: International expansion and picking up the sporting slack April 7, 2020 GentingBet secures North American racing boost with XB Net July 22, 2020 Online sports betting operator GentingBet, (Genting Malaysia) has planned to expand its European profile by applying for a Spanish casino and sports betting licence.The operator intends on going live in the market by the end of this year. The move comes after a company statement revealed that GentingBet was well positioned for expanding into the Spanish market.Jeremy Taylor, Managing Director of Genting Online praised the expansion plans and said: “Gambling is an important part of Spanish culture. The country is of significant size, has one of the highest per capita spend in Europe and has consistently grown during the past 10 years or so.“Genting is a huge global business with a significant UK casino estate and has big ambitions for its mobile, live casino and sportsbook products. We believe GentingBet’s wonderful heritage, social responsibility focus, live casino expertise and comprehensive betting and gaming suite will resonate well in Spain – as it will other European markets. “Having recently opened our new Interactive Headquarters in Malta, we are now perfectly placed to capitalise on the opportunity that the European online market presents.“We have therefore taken advantage of the one-year window offered to operators and submitted the application to Spain’s Dirección General de Ordenación del Juego (DJOJ) regulatory body. If successful, we hope to roll out in Q4 of 2019.”The Genting Group launched its first online casino in 2008, while the Genting Bet sports book was launched in 2013. It has over 50 years of gaming experience and covering all main product verticals such as casino, live casino and sports betting.Genting Casino UK announced it was restructuring its gambling division in 2018, having appointed Alison Brincat as the group’s new affiliate marketing lead, as well as Jeremy Taylor as interactive managing director.
Mason City’s mayor Bill Schickel was our guest on the “Ask the Mayor” program on AM-1300 KGLO, previewing his “State of the City” address. Listen back to the program below
FFWPU Belarus: On October 26 – 28, 2014 a workshop for 2nd generation children was held in training center at Morning House. That workshop was held as part of the cycle of workshops named “New generation chooses…” That autumn workshop topic was “Life and path of Jesus”. 16 children10 – 15 years old took part in the workshop. The main goal of the cycle is to develop filial piety, to strengthen friendship and to develop good, loving relations between 2nd generation children of different ages. During the workshop elder children took care of younger children, and younger children showed their respect to elders.On the first workshop day children studied “The purpose of Messiah” and discussed the topic “Courage to be yourself”. On the second day children studied “Jesus life stories” and discussed how to begin the process of self-knowledge in a right way. On the third day children learned about mission of Jesus and the role of John the Baptist.The workshop was saturated with a desire to “feel God’s Heart though understanding of the heart of Jesus”. There were a lot of situations that made children to understand how it is important to learn to think from God’s view point.During workshop children also played spots and board games, had free time for reflection and communication, and etc. The workshop participants all together prepared farewell dinner. The workshop atmosphere was friendly and joyful. And at the same time the atmosphere was spiritual and favorable for thinking about personal choice, about how to avoid wrong choice, and how a common goal depends on my personal choice.