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CO-OP THINK Prize 14 Entries Due Oct. 15

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RANCHO CUCAMONGA, Calif. (8/5/13)--Round One applications for the CO-OP THINK Prize 14 are due Oct. 15, CO-OP Financial Services said Thursday. Entrants will be eligible for the $10,000 grand prize sponsored by MasterCard.
 
"The purpose of the CO-OP THINK Prize competition is to inspire innovative solutions to issues facing the credit union movement," said Stan Hollen, CO-OP Financial Services president/CEO. "We encourage everyone to consider entering, for their own professional development, to make their credit unions better, to help our industry, and perhaps to win a nice sum of money."
 
The solutions put forward in the competition can take any form--such as an innovative application of technology, a new process for back office efficiency or a fresh approach to industry advertising and marketing. Although the ideas can vary widely, the entries are judged based on four main standards--impact, creativity, aggregation (the application of the idea across the industry) and implementation (the ability to be adopted).

For CO-OP THINK Prize 14, red letter dates are:
  • Oct. 15--Deadline to complete an on-line entry application;
  • Nov. 15--On or about this date semi-finalists will be notified, and invited to produce a detailed business plan;
  • Dec. 18--Semi-finalist business plans are due;
  • Feb. 15--Three finalists will be notified on or about this date; and
  • May 19--The CO-OP THINK Prize 14 winner is announced at the THINK 14 Conference in New Orleans.
Judges from CO-OP Financial Services and an industry panel select 25 semi-finalists and the three finalists.

PULSE Partners With Paydiant To Offer Mobile Payments

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HOUSTON and WELLESLEY, Mass. (8/5/13)--PULSE, an ATM/debit network, has partnered with mobile-wallet provider Paydiant to offer a payment solution that allows consumers to withdraw cash from ATMs using their smartphones.
 
The Paydiant solution will allow PULSE financial institution and merchant customers to provide a secure, branded mobile-wallet solution without installing additional hardware on ATMs or point-of-sale terminals.
 
At the ATM, consumers authenticate themselves by scanning a unique quick-response code that prompts the ATM to dispense cash via an encrypted connection to the cloud.
 
The Paydiant mobile-wallet application is enabled through a secured cloud-based system that does not store sensitive account information on the mobile device or pass account data through the retail environment. Every transaction uses two-factor authentication and tokenization, making it a secure mobile payment method, Paydiant said
 
Diebold, a self-service solutions and ATM manufacturer and a CUNA Strategic Services provider, announced a similar partnership with Paydiant last month.