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/   Insights

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services industry. Topics span TARP, Dodd-Frank, insurance, lending, retirement savings and more.  Below are some updated Fast...

Cause and Effect: If you build it, will they come?

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/   Spotlight

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Intuit 2020 Report: The Future of Financial Services

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/   Insights

Today, Intuit released the latest edition of the Intuit 2020 report, Intuit 2020 Report: The Future of Financial Services, which identifies and examines four key trend areas that will  transform the financial services industry...

The Top 10 Trends in the Digital Banking Industry

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/   Spotlight

2014 is rapidly approaching and as the year wraps, the Digital Insight team has pulled together the top 10 trends in the digital banking industry based on data and trends from studying financial institutions....

Small Business: Perception vs. Reality

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/   Insights

In the most recent election cycle, like most others before it, the one sector of the economy that got the most attention was small business.  This is the future, we were told by every...

Industry Perception, Optical Delusion

January 14, 2013
/   Insights

In Washington, they talk a lot about ‘optics.’ This has nothing to do with regulatory scrutiny, or government mandates on eyeglasses. It has to do with perception—how something looks, the way a particular story...

Social Banking: Blessing or Curse?

August 1, 2012
/   Insights

While the topic of Facebook and banking has generated plenty of heat (though not necessarily a lot of light), the debate seems mostly focused on two broad issues: The much-maligned IPO, and the notion...

Mobile Banking Engagement: Data from Digital Insight

June 24, 2013
/   Spotlight

Intuit Financial Services has been conducting a comprehensive and ongoing study of financial institution customers. From these studies, the company has been able to provide a deeper view of banking customer behavior across several...

Even though the shine may have worn off, Apple Pay buzz still has a little “zz” left in it. While bankers are a little less mystified by the service, brave FIs are adopting and moving forward to become one of the first to market. Wanting to learn more, we spoke with one of the early adopters, America First Credit Union. AFCU was the second credit union to be a participating Apple Pay issuer and is currently only 1 of three credit union partners of the program.  You can see the full list of participating issuers here.

To get a better sense of what adopting Apple Pay actually looks like, we chatted with Brice Mindrum, mobile services manager for America First Credit Union. Now that you’ve been offering Apple Pay to customers for a few days, are you seeing a rapid adoption? Are these users continuing to use the service?

Brice Mindrum: We are seeing significant adoption from our members, many of whom were eagerly waiting for our cards to be supported. We expect transaction volume to grow rapidly as more and more merchants begin to support NFC in the coming year.

What’s the question your members continue to ask you about Apple Pay?

Members continue to ask where they can use Apple Pay and where it will be available.

Do you expect any changes in the interaction with your members from the new service?

We are excited to offer Apple Pay to our members, especially those who are excited to use it.

Are you adding any additional security or authentication on top of provisions within the Apple Pay service?

We believe the security measures implemented by Apple and Visa are sufficient.

As the holidays are fast approaching, do you foresee any change in how your members will be making their purchases?

We expect our members enrolled in Apple Pay will use it at every opportunity, and will view both America First and the merchants who support Apple Pay as innovative.

In adopting Apple Pay, did you view this as a welcome technology? Is there a general sense of excitement or anxiety from  your employees?

We welcomed Apple Pay and we were pleased to be among the first few financial institutions to offer it. Our employees, who are accustomed to our embrace of innovative technologies, welcome Apple Pay and look forward to helping members use it.

To launch the service, was there any additional training you had to give employees? 

Although Apple Pay is very intuitive and easy for members to set up and use, we trained our employees in advance of deploying Apple Pay so we would be ready to answer their questions.

Were you already planning on launching  or do you already have EMV cards? How did this affect your attitudes as a business towards Apple Pay?

We will be issuing EMV cards soon. We see Apple Pay as a more modern, potentially more powerful tool in our efforts to reduce fraud, but EMV is already underway with issuers and merchants and will have a more immediate impact. This will change as the number of merchants supporting Apple Pay increases and more cardholders convert to smartphones.

How do you think credit unions and banks who are not yet offering Apple Pay will fare?

We believe there are members who will look for Apple Pay and similar technologies and will find financial institutions which support it.


Are you still questioning the move to offer Apple Pay to your customers or members? We want to hear it! Let us know your thoughts via email, social or in the comments below.


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James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.

Brad Strothkamp