MADISON, Wis. — The Filene Research Institute has launched its newest Center of Excellence, All Things Payments, a dedicated research initiative designed exclusively to help credit unions navigate the rapidly evolving payments and money-movement landscape.
The Center will provide credit unions with actionable payments research, competitive benchmarking tools, and practical strategic guidance, including implementation roadmaps tailored to cooperative financial institutions, Filene said.
"The stakes for credit unions have never been higher. Emerging payments technologies create new opportunities while also putting pressure on credit union deposit strategies and interchange revenue. Amazon and Walmart are exploring launching stablecoins that could financially impact credit union’s bottom line. OpenAI’s Instant Checkout with PayPal will allow users to buy in a single, streamlined ChatGPT experience. AI-powered fraud is accelerating faster than defenses can keep up," Filene noted.
"No single credit union can solve the payments puzzle on their own," said Mark Meyer, CEO of Filene Research Institute. "The All Things Payments Center brings together the industry's best thinking: academic rigor, practitioner insight, and collaborative problem-solving to help credit unions not just survive these disruptions but lead through them."
From Confusion To Competitive Clarity
The All Things Payments Center "cuts through the noise" with unbiased CU-guided research that will help credit unions look forward to navigate competition and technological tradeoffs to build a payments roadmap that will meet the evolving expectations of their members. Filene said.
Filene said it will examine critical questions including:
- Where does our credit union stand competitively in payments and what should we prioritize?
- Which payment innovations (tokenization, stablecoins, etc.) will impact our members?
- What do members actually expect from their payments experience and how do we deliver it?
"A lot is shifting in payments right now, and it can feel like the ground keeps moving," said Dr. Henry Kim, fellow for the Center for All Things Payments. "We'll help credit unions sort signal from noise and turn things like real-time payments, stablecoins, fraud detection, and AI into practical next steps so they can serve members even better."
Forward-Thinking Credit Unions Are Already Leading
A coalition of innovative credit unions have committed as founding sponsors, including Corporate America Credit Union, Corporate Central Credit Union, Desert Financial Credit Union, EastRise Credit Union, WSECU, SchoolsFirst FCU, Municipal Credit Union and Lake Michigan Credit Union.
Paul Kirkbride, chief operating officer at WSECU, emphasized the stakes: "If credit unions are to remain relevant, we must lead in the fast-changing payments space. This means anticipating member needs, shaping future solutions, and embracing experimentation. It’s not an exaggeration to say our industry’s future depends on it."
Learn more here about The All Things Payments Center.
"For a deeper dive, join us for our special center kickoff webinar on February 24 (11-12 CT), to hear directly from Center Fellow Dr. Henry Kim as he shares the vision, priorities, and research agenda that will guide the Center’s work. If your credit union's strategic plan includes delivering a payments strategy, reach out to christiek@filene.org to learn more about becoming a sponsor," Filene said.