In the current low-interest-rate environment, credit unions are exploring new sources of revenue to augment deposit and non-interest revenue. Hypur’s technology now allows credit unions to safely and profitably serve cash-intensive businesses (CIBs), even in high-risk industries such as money-service businesses (MSBs) and marijuana-related businesses (MRBs).
This presentation will provide an introduction to Hypur’s suite of integrated technology products, specifically focusing on how Hypur Commerce, ID, and Comply utilize point-of-interaction data to bridge gaps in existing AML/BSA software, giving credit unions the ability to take advantage of the market opportunity created by de-risking in a way that is sustainable and within acceptable risk tolerances.
1. Legal & Regulatory Environment: Learn how the new presidential administration, and other changes in CIB markets, impact practical considerations and risk mitigation when it comes to serving CIB merchants.
2. Cost Savings: Learn how Hypur Comply replaces manual processes with automation technology that allows for scale and growth in responsibly banking CIBs, while keeping administrative costs low (thus increasing profitability).
3. Revenue: Understand how Hypur Commerce can generate significant non-interest revenue for credit unions while reducing the burden and risk of processing large amounts of cash.
4. Transparency: Understand how Hypur Commerce and Hypur ID provide Know Your Customer’s Customer (KYCC) transparency while safeguarding consumer privacy, turning cash payments into known customers and bringing legal cash transactions back into the banking system.
5. Banking & Payments Integration: Get the details on how Hypur facilitates payments without use of credit/debit card rails, virtual currency, prepaid cards, or cashless ATM services, and seamlessly integrates payment transaction data with compliance reporting features.
6. AML/BSA Technology: Learn how Hypur’s products can supplement and integrate with your existing AML/BSA technology in order to fill in the gaps that core systems don’t address, and provide real-time point-of-interaction data that enables you to monitor in unprecendented ways including preventing suspect transactions before they occur.
7. Sustainability: Understand how Hypur’s holistic technology platform provides a sustainable solution to de-risking that benefits credit unions, merchants, consumers, regulators, government agencies, and taxpayers.
Hypur’s goal is for financial institutions to utilize technology to turn CIB accounts into the most transparent and profitable commercial banking relationships they have. Join us on the webinar to learn how your credit union can achieve this goal.
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