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Author: Joe Winn (Page 1 of 76)

Speaker, educator, and all-around awesome geek serving the credit union world. Identifying and overcoming emerging challenges within the industry. Also, being a secret ninja. And a Jedi.

Privacy: A Guide for People (Part 2 – Things You Can Do)

Originally published on CUInsight.com

The previous part of our Privacy discussion covered your devices and regular activities on them. Cookies, ads, and what’s changing in this realm. Plus, we looked at how norms are shifting to more data sharing.

With the overnight explosion in work-from-home, many of those practices became commonplace. Services like Zoom got themselves caught on the wrong side of the privacy conversation. And then made the right efforts to get better.

Some of the places your data goes have your best interests in mind. Others…less so. This post will cover some of those technologies for credit unions, while also exposing some risks you may not know about.

Of course, we’ll discuss options to protect your data and self (sadly, some of this is used to control and instill fear in others).

Let’s start with the network you’re using.

Wifi Networks

Wifi Icon

When on public wifi networks, consider everything visible. Your banking connection might be encrypted, but some data can still be seen if someone is “watching” network activity.

Surprise, there’s a solution for it! A technology called VPN (Virtual Private Network) encrypts your traffic and “tunnels” it through trusted servers. Now no one can see anything you do online.

Since all your traffic goes through their systems, it’s good to trust the provider. I use Windscribe, a company out of Canada that is well-reviewed by those in the know. Plus, their marketing is stellar.

You can use a VPN on any connected device, so desktop or mobile activities can be private.

Ironically, LTE (and 5G for some) traffic is among the most secure in our country. If you don’t trust the wifi (Name: “FreeWifiConnectNow”), don’t have a VPN, and need to do some banking, just use LTE.

Other Privacy Challenges

The original draft of this post then went into depth on a really scary kind of location tracker: the license plate scanner. It’s really a discussion upon itself. When I have time, I’ll give it the treatment it deserves.

The rest of this post shares challenges as well as opportunities for your credit union, then further expose privacy risks we can mitigate.

Data Sharing

Between Open Banking and the general expectation of users, you’re under higher obligation to share data than ever before. And that doesn’t include what your members share on their own!

Red and White Puzzle Pieces Fit Together
How does this data and your privacy fit together?

How are we ever going to keep this stuff locked-down?

If you’ve been an honorary geek for any length of time (ie. one of my dedicated readers!), you’ll recall our conversations on data breaches and security. Many, many tweets about it, too.

To answer the question: Most of the time, you guys do a great job with security! It’s everyone else causing issues. Can I get an, “I know, right?”


So there’s a few forms of data sharing. The first is really blatant. It’s when you provide your card number to a merchant to buy something. If it’s in person, I hope you’re using the chip (EMV) or contactless (NFC, like Apple Pay or the card itself). Why? Go here. Read it.


Security in that form is tough, because you’re depending on the merchant. And that’s where most “breaches” occur, costing your institution time and money (though consumers seem to consider it normal now).

It’s not normal. It doesn’t have to be a regular occurrence. Now that the tech is available, the challenge is in member education.

API Access

Shaking Hands in Front of Globe

Chances are, you have at least one connection to some financial service using an API (Application Programming Interface). These are secured links between systems that don’t require sharing passwords.

The handshakes that happen are in the background. It’s like “Log in to this site with Facebook”. You don’t give them your Facebook credentials; you just say “sure, share my data.” (Those have their own privacy implications…)

Your members are used to this type of system. If you present your own solution, they’ll use it (assuming it promises and delivers on a value proposition).

Trusted partners will have strict controls on what they can do with the data you send to them. I’m sure that was decided during the agreement stage.

Having a standardized process for this is at the core of Open Banking. Yes, it will let members connect banking data to other, perhaps cooler, platforms. Yet they’re still with you. And your institution can market this easy integration.

Privacy & Functionality

Data is the new currency. Companies want it. And with the technologies of today (and tomorrow), they can gather more of it than ever before.

Your goal is to help maintain your members’ privacy and security, while also engaging them through interesting personalized experiences.

Risks From Outside

Sometimes, ok, most of the time, the privacy risks to your credit union and members come from outside. There’s not much you can do about them besides being aware, having good security policies, and educating members.

But there is one thing every hacker wants…access to your device. What are the two best tools to prevent this?

  1. Biometric authentication (TouchID or FaceID)
  2. Long passcode only you know

Yeah, that means not sharing access. It also means never sharing passwords (I’m referring to those streaming services logins you absolutely never give to family and friends).

Whether directly or remotely, hackers long to access your information (be it financial, personal, or business). Locking down your phone and computer is your best first line of defense.

Sometimes the “hacker” isn’t a hacker, but someone close to a member. They may install software called “stalkerware” that tracks usage and activities, just as much as any other hack. Go here to get tips for detecting and removing these programs.

This is a concern for people escaping abusive relationships. It also can be a disgruntled (possibly) former employee attacking your computers.

Do they have deep access to your systems? Can they plug devices into your computers and add/remove data? Think of every spy movie character plugging the thing into the network to download all those blinking folders.

You don’t want that. Lock down your systems so this kind of data extrication cannot occur. (but don’t get too aggressive, or employees will resort to less secure means of moving files).

Here’s a company which might make you a bit more eager to lock down your social media accounts. Surprise, surprise, they got hacked.

Clearview AI Facial Image Hack

Face Detection Digital

Here’s a scary and timely hack (based on when I wrote this piece) I hope never happens again. Though, given the information is already out, does it even matter? Yes, yes it does.

A company called Clearview AI was just minding their own business, providing quality services to other companies…sorry, none of that is true. Here’s what they were doing:

Stealing all photos of your face visible online. Then keeping them in their own systems permanently. Even when you deleted your copies on Facebook, Twitter, LinkedIn, or elsewhere, they had you saved.

Already, that’s…not great. It gets worse. They sell this image data (with associated AI recognition capabilities) to law enforcement, governments, and, oh, yeah, banks.

Presumably, it’s used to match your identity to photos of unknown people. For what reasons? To find wanted people, sure. To discover those who aren’t paying the loans? Your guess is as good as mine.

The hack? Their entire client list was stolen. So while there’s no way to remove your photos from their system, someone else has access to who they’ve sold them to.

What You Can Do

In this case, your strategy is just empowering members with clear and concise information. Then share pieces of a regularly-updated guide on maximizing safety and security online and in the real world.

Include mention of privacy settings on social media, the potential risks of friending people you don’t know, and the typical “your credit union will never ask for any personal information”.

Keep Dark Web In Mind

For your own institution’s protection, realize some of your member data might be on the Dark Web. Brainstorm the most effective and unobtrusive ways to verify member activity and identity.


PS – Make sure security questions never include maiden names, pets, street/city where you were born, or first car. Embrace 2FA and answers to questions that are less likely to be found in public record searches. Say, favorite movie or breakfast. Again, be creative! (Yes, these are vulnerable to social engineering, but it’s a start.)


Privacy Talks Continue

These two posts may have felt like a lot. And you’d be right. But it’s still just the beginning. I could talk about nothing else on here and stay busy. I won’t, because there’s more to cover.

Just keep these ideas in mind and ensure they are built into your mission, so it’s always considered.

You have your member’s trust. Use it wisely and share your own wisdom to help them live safer, more productively, and happier.

Be sure to Subscribe to the Credit Union Geek to get more posts like this delivered straight to your inbox.

Image credit: Photo by Matthew Henry on Unsplash

Food: Your Credit Union’s Newest Product?

Originally published on CUInsight

Digital transformation. Post-COVID planning. Loan growth strategies. Generational marketing.

Those are all important topics. You’ve got plenty of resources for each.

But this article? It’s going to talk about something I guarantee is 100% new to you.

In fact, consider this the first time it has EVER been discussed within the credit union world.

Food. Yes, food. And your credit union. Along with members and your larger community. If this sounds crazy, you’re right. It’s also a peek into what could become a $1 Trillion industry. That’s a T, for trillion, in case it didn’t register the first time through.

It’s ok, you’re wondering where this is going, and how it could possibly connect to your credit union. I promise I’ll get there. First, let me introduce this concept, which, by the way, your Gen Z and Millennial relatives already use (whether they realize it or not).

The Delivery Shift

Pizza Boxes
Not just pizza.

You know the basics of a restaurant, even if you haven’t been inside one in a while. There’s a building with seating areas, perhaps a bar, and a kitchen in “the back”. When you order from a waiter or that Ziosk device on your table, a ticket goes into the kitchen to prepare your food.

A short time later, you’ve got a piping-hot meal, fresh from no more than 50 feet away. It’s just as delicious as you remember, which is why you came back to this particular restaurant. The food is consistent and you trust their brand to deliver, even if you visit another location.

Of course, once the pandemic struck, we turned to take out and delivery. The food delivery segment surged 164% in 2020. Like other things, COVID accelerated transformation. Yet it was already on this track. Delivery has grown 300% faster than dine in over the past 5 years.

And most people hungry at home just opened up Yelp to call their favorite restaurant, right? Nope, they downloaded:

  • GrubHub (which acquired Seamless and Eat24)
  • Uber Eats
  • Postmates (which Uber acquired)
  • DoorDash (which had a huge 2020 IPO)
  • Drizly (for alcohol, another service Uber acquired)

If you’ve been on these apps before, you know how simple they make getting food to your front door. They’re also surprisingly good at making “what you want” as important as “where it’s from”. When you’ve got a burrito craving, it makes sense to filter by fillings rather than source.

Ordering food for most now means opening a delivery app and not a specific restaurant’s site. If this concept sounds silly to you, rest assured, you’re currently not their target audience. But you might be after finishing this article.

Because that list of nearby restaurants and food items showing in Uber Eats has a secret: Some of those restaurants don’t exist.

Ghost Kitchens

Cooks in Kitchen
Look at those apparitions cook away.

No, this isn’t some Halloween Horror Nights event. A ghost kitchen is simply “a cooking facility that produces food only for delivery with no dine-in or customer facing areas.” You may recall commissary kitchens, where you can “set up shop” in a fully-prepped cooking space.

Ghost kitchens are similar, except they can also be part of another, already operating, restaurant. Say you own a taco stand and want to bring in a bit more revenue. You could consider preparing pizzas under a different, delivery-only, brand.

Many places are doing this now, especially as dine-in activity collapsed throughout 2020.

However, this isn’t a new concept. There are currently 1,500 ghost kitchens in America. Globally, it’s caught on to a larger degree, with over 7,500 in China and 3,500 in India. As mentioned earlier, projections put it at a $1 trillion industry in less than a decade.

How do you promote a menu which has no physical location to visit? Even food trucks stop to sell their goods! Delivery apps. When scrolling on your phone, it doesn’t matter if the “restaurant” has a location, just that they can deliver your wet burrito in 32 minutes.

Ok, so we recognize the enormous growth in food delivery apps, the expansion of ghost kitchens, and how seamlessly they fit together. Where, you are probably thinking, is the credit union connection?

Enjoy your side of guac and chips as we prepare the main course.

Ghost Franchises

Girl on Phone with Coffee
She’s definitely using a delivery app.

Here’s where it gets interesting.

Say you’re a YouTube celebrity with millions of followers (this is absolutely a thing), and you want to promote a new way to monetize your audience. Product placement and paid promotions are fine, but they’re old-school. You want something fun. Something tasty.

What if you could open a national restaurant chain with items fully to your branding, and you’d earn a piece of every food sale? Oh, and you wanted to do it with minimal investment. Sounds crazy, right?

Not anymore. Today, you’d work with a ghost kitchen consultant to set up a ghost franchise. Together, you come up with the restaurant name, its food items, and on-brand descriptions and graphics. Then, you food test and create standardized recipes. Finally, distribution.

Your consultant helps recruit a regional or national network (depending on your goals) of restaurants and ghost kitchens willing to make your food. These are often large chains, so one agreement can bring in hundreds of locations. And, there is no step 3.

You’re A (Delivery) Restaurateur

Uber Eats Bike Delivery Man
Fresh from…where again?

In that entire footprint, your “restaurant chain” goes live in delivery apps. Overnight, your fans can order your burger in 95% of metro areas, sharing their response videos about it the next day. And everyone using their existing apps sees a “new restaurant” in their area.

This isn’t a hypothetical. MrBeast, a YouTube star with over 50 million followers, opened MrBeast Burger in just this fashion. He’s not alone. Celebrities as wide-ranging as existing restaurant owners to reality stars follow this model.

Guy Fieri has 130 regions where you can take the virtual drive to Flavortown Kitchen. Mariah Carey (yes, that one) has a whole line of cookies available in 39 states. For the Jersey Shore fans, you can chew on Pauly D’s Italian Subs.

With a bit of planning, anyone can launch a food brand. And, since it’s fully virtual, you can evolve it as needed. So what if you wanted to do more than just fill stomachs? Is it possible for this model to improve communities?

The Credit Union Food Connection

Breakfast on Table
Breakfast from your favorite credit union!

Bank, borrow…bite? Eating isn’t often associated with your financial institution. Unless it’s a lunch-and-learn session or department pizza party (remember those?), business revolves around dollars and members, not dining.

The community and member-facing side of your credit union exudes financial empowerment. You aim to lift people up through your products and services, and don’t need me to explain that aspect of your mission. But what’s a major challenge? Communicating this effort to the public.

What if your credit union started a restaurant? Backed by ghost kitchens, you could build a brand that connects back to your own, raising awareness and excitement for your initiative.

Sidenote: Yes, there are possible challenges related to operating a “business” as a credit union. In my mind, this would necessitate setting up a CUSO to handle it. You’d start as fully non-profit, where all revenues go to your charity partners. Eventually, it could support the CUSO, which can handle multiple CUs.

The menu items could have names relating to savings or financial goals. Descriptions could include witty connections to local charities and member success stories. If this sounds unfeasible, you haven’t let your marketing team run wild.

An Order of Community Improvement with a Side of Financial Education

Menu Clipboard with Food
What’s your daily special?

By using the ghost franchise model, you could open an app-visible restaurant chain across your entire member footprint. Besides traffic from regular users of delivery apps, you would promote it through your social media and website (especially mobile banking…engage them on the same device!).

Sure beats another message about how your rates are the lowest in town. Or that a HELOC with your credit union is a great decision. I guarantee your members are not expecting to hear about daily specials…of food! Start your order now!

With items advancing financial literacy and the whole model promoting your brand, what else could you do for the community? Remember the references to local charities (or your foundation efforts)? They can be more than just mentions. Think real giving.

Your model can accommodate a portion of sales to support these charities. Share quarterly updates with members about how their eating habits made a real difference. Tell them how many backpacks you got for underprivileged kids, or how many meals they helped you serve at a local food bank.

Most importantly, ensure your members feel part of the effort. Thank them for supporting the community with every order. Tell them exactly what their order provided for a partnered charity.

Remember all those discussions about how Millennials and Gen Z like (and tell friends about) companies who are genuine in their mission? Show them on their turf.

Food: The Next Credit Union Frontier?

Cake Pops
“You see, the sprinkles are like interest…”

Every day, you read articles warning that without innovation, your credit union will struggle to succeed. Normally, they suggest advancing your digital transformation, and some promote their own products. Yet all of them reinforce your role as a banking establishment.

What if you could blur what your community thinks it means to be a credit union? Sure, you provide tools to advance financial literacy and empowerment. But you also have a killer loaded potato, stuffed with informative nuggets about building a savings strategy and the knowledge you’re helping support those less fortunate.

Who’s hungry for some real change?

Privacy: A Guide for People (Part 1 – Things Your Credit Union Can Share)

Originally published on CUInsight.com

Updated 4/6/21 with details on FLoC testing

Privacy. Buzzword doesn’t even begin to describe it. You discuss it in your board meetings. It’s mentioned ad nauseam on news stories at every level.

It played a major role during the coronavirus pandemic. Conflicts between the right to privacy and informing fellow workers of infected persons raised a lot of ire.

Tracking exposed people using anonymous phone location data built maps where we could watch the virus spread. Was that a public health requirement or privacy violation? Or both?

And now, with Apple and Google having built an Exposure Notification API, everyone’s devices could help us know when you’re exposed. Are there privacy implications? You bet. That’s why they listened to get it right.

Too bad our national and local governments mostly passed up using the tech to help save lives…because of the privacy issues out there, this wasn’t the “hill to die on”.

We debate the details of privacy and what it means with respect to national security, crime, and business. In fact, privacy is a topic of discussion in nearly every area of life.

Private Sign on Chain

Yet why do we seem to have less of it than ever before?

This post will look at what privacy means for your credit union, your members, and how its perception evolves over time.

You’ve Been Logged

Of course, you’ve already been logged. “Let me count the ways…” Where do we even start?

For the more mundane, we’ve got cookies in your web browser. They help sites recognize you upon your return. This is what lets you “stay logged in” on Gmail or any other service.

We’ll get to the more interesting systems later.

Tracking for Good

Tracking isn’t inherently bad. You can’t personalize if you don’t have any knowledge on who is doing what. The key is to embrace your data to improve your experiences without getting creepy.

Cookies

From your standpoint, cookies are a fun tool. They can be used to remember members upon their return to your site. United Texas CU embraces this with their full-page assistant.

United Texas CU Homepage
Well, hello there.

You can take it even further by proactively offering assistance based on their previous visit actions. If a member visited your Checking page before, display your account options on the homepage.

The same can be done with Auto Loans, where you display your Car Buying Service and your “as low as” rate.

In a way, members feel recognized and appreciated. It’s not creepy and helps everyone. Think of it like the Recommended Items on your Amazon homepage.

There’s also 3rd party cookies, which follow you around the internet and are not in the same category at all. We look at those below.

Account Alerts

Did you know that in 2019, there was a 31% drop in average annual number of overdrafts per account? Unfortunately, it’s not because people suddenly had more money. Or that they could avoid overdrawing their accounts.

Bell

It’s been attributed, at least in part, to proactive account alerts: Push notifications from the banking app to warn on low balance. Does your app do that? Because others do it with a lot of style.

On one side, it will cost money to implement and reduce fee income. However, I believe the credit union mission demands it. There are a lot of other ways to grow revenues that don’t involve punishing those already least able to afford it.

From your member’s perspective, you are providing a helpful service that assists them in better managing their available funds. And saves money. Plus, it can be part of a financial literacy effort. If nothing else, it’s financial empowerment.

Account Insights

Some of the big banks have digital assistants in their apps to give additional insights. For example, Bank of America has Erica (Get it? Brilliant, right?).

You can ask Erica questions by text or voice, both using natural language. For example, you can say, “how much did I spend on groceries this month?” Or, “what are my recurring charges?”

Coins and Calculator on Budget

Helping members get a better view on their money (and take actions on it) will keep you from becoming a “dumb bank”.

Tracking You May Not Know About

With our smartphones comes an impressive array of sensors and software systems. Put together, they can learn an insane amount of information about you.

We’ll talk about them, but there’s also other personal information you’re giving up without even realizing. Some you can restrict. Most you can’t (though Apple’s new App Tracking Transparency will give you lots more control).

Location

Your phone has GPS. So it knows where it is in the world. That means your cell phone provider also knows. Granted, it needs to so it can choose which tower to use (for rough location, they’ve always known).

Blue Location Pin

With apps, you can choose to allow them to access that location information. It’s helpful to find ATMs, use maps, or any of millions of other functions.

Did you know you can restrict this access? Your phone lets you choose whether the app can access your location at all, while it’s open, or always (yes, even when it’s not active at all).

For example, Bank of America asks for Always location access to match your phone’s location with card purchases. If your card is in Sacramento and you’re in Boston, there might be a problem.

Many apps ask for your location to sell that data to advertisers. You didn’t think that amazing game was free free, right?

Find your phone’s location privacy settings (iPhone: Settings/Privacy/Location Services). Lock it down as much as you can while still allowing desired functionality.

I recommend turning off “Precise Location” on any apps that don’t need to know where you are to the foot. If you must leave location on for Facebook, this is the setting to use.

Beyond GPS

GPS is your primary location system on phones, but it’s not the only one. Bluetooth does more than connect to your headphones. It is a form of precise location as well.

This is done in two ways:

Bluetooth Icon
  • Detection of Bluetooth beacons installed in the environment around you
    • Example: In a clothing store, when their app is open, it may use these beacons to offer section-specific coupons.
  • Looking at every Bluetooth device around you and their signal strength or change over time
    • This is how Apple Maps determines traffic. Your iPhone listens for every other iPhone’s Bluetooth signal as you’re driving along. When it detects the GPS speed is slow and also many other iPhones, that’s a good indicator of traffic.

COVID-19 Exposure Notification API

Who knew when I wrote this that there would be a global use of Bluetooth tracking? Well, there is. Apple & Google partnered to build a COVID-19 Exposure Notification API. With it, phones use Bluetooth to look at nearby devices.

While preserving privacy, your phone will monitor other Bluetooth devices nearby, behaving similarly to the traffic tracking. It will look at signal strength to determine distance (instead of speed). This gets anonymized and sent to their servers.

Public health authorities and individual users will mark people who have tested positive. Then, the system will match that device’s identifier to all those who were in proximity. Each of them receive a notification they may have been exposed.

It’s already on your phone. Even though it’s really a bit late, there is still time to demand your national and state governments build apps to “light it up”. Without exaggeration, it will save lives.

Other Bluetooth Uses

To address the issue of apps (like Facebook) using this Bluetooth data to get location information on you, even when you had Location Access off, Apple made apps get permission to use Bluetooth.

It’s another section in Privacy on your iPhone. Check it. Turn off those which aren’t using devices or services (while leaving it on for apps like Tile, which use it in the background to help others find their stuff).

There’s a whole lot more we can discuss on the topic of location data from phones/watches:

  • The accelerometer knows how and where it’s being held/carried
  • The gyroscope can detect how it moves in an environment
  • In theory, this data can show limps, desired accessories (purses, pockets, etc.), activity levels, or other potential health characteristics

Yeah, it gets a little nuts. But it’s happening. My main advice here? Only install apps from companies you generally trust and keep access permissions as low as possible while preserving app functionality.

Data Scraping

There’s a reason the Privacy section of your iPhone has categories beyond Location. Apps can collect an enormous amount of data from users, some without their knowledge (hence why there’s so many privacy sections).

Data Knowledge Learning Road Sign

This can include contact lists (known good e-mails, addresses, and phone numbers), recordings from around you (yes, some apps really are listening!), photos or camera, and more. Each requires permission.

For your financial institution, you don’t have to worry about this from your app. However, it’s good to know what’s possible. In some way, you might wish to use certain functions to improve member experience.

Advertising

It’s unlikely your mobile app has ads, beyond internal banners for financial services. A lot of others do. While I get that a “free internet” needs ads to fund it, we can do better.

Rogue ads that get into rotation on services like Google’s Double-click or Adsense networks can cause issues. They may collect data and send it back to sites for distributing malware, phishing messages, and more.

Analytics

Even apps without ads might have some form of tracking. Under the guise of “analytics”, some apps collect a large amount of usage data. Why? To sell it, of course! That new Apple privacy feature? It’ll stop this. Thank goodness.

Just make sure when you open an app (after updating to iOS 14.5), tap “Ask Not To Track”. Done! Moving forward, you can always look at an iPhone app’s Privacy Label in the App Store to see what data they use to track you.

So what might an app be learning from your use? In other words, what do they consider “analytics”? Here’s just a few items included in Apple’s Privacy Label (all are included in LinkedIn to track you):

  • Precise/Coarse Location
  • All contact information
  • Advertising data (if you’ve ever tapped an ad, commented, liked, or just looked at one for any length of time)
  • Product interaction (literally how you swipe, tap, linger, and otherwise behave in an app)
    • Also, what you’ve typed (or potentially written, then erased) inside the app
  • Contacts
  • Emails
  • Text messages
  • “Other data types” (so, assume everything not already mentioned)

For this and more, you can always check Apple’s App Privacy labels in their store. In addition, they will soon allow you to disable tracking (which has a few big data scrapers up in arms…it’s delightful): App Tracking Transparency.

I use Lockdown on my iOS devices to block many of those servers straight up. Within Safari, I also run Firefox Focus as a privacy filter (perhaps overkill, but there’s no harm).

Additionally, on Firefox (when I want more protection), I use Privacy Badger, Decentraleyes (addresses tracking through CDNs), and uBlock Origin.

If you handle the IT for your credit union, learn how Privacy Badger supports enterprise deployment and configuration. This lets you protect all your connected systems through unified management and can help prevent malware entering your network.

3rd Party Cookies

Cookies
Still not these?

Cookies again? Yes. They’re not just for the website you’re visiting. 3rd party cookies, which I’ve been blocking for many years (it’s a simple browser setting), track you across the internet.

These are one of the tools advertisers use to show ads for that beach chair you looked at a week ago on every other site. And it’s going away.

Google recently announced they’re removing support for 3rd party cookies in Chrome by 2022. So no more ads? Not quite.

First, this only affects Chrome (~60% of desktop browsers in US). Firefox and Safari blocked 3rd party cookies by default for a while now. Second, it doesn’t affect their own ads. Why?

Because if you’re using the (Google) Chrome browser, they’ve already got all the tracking data they need. This change won’t hurt them one bit. In fact…

Chess Board
The Google strategy game continues…

In my opinion, Google is doing this to build their own business. They’re making it harder for other advertisers to gather data, while ensuring they’ll have the most personalized ads to display.

And their new test of the system (called FLoC) seems to reaffirm this suspicion. If you use Chrome, you might be included in their trial without any knowledge. That’s only one of the “not cool” things about this system.

Why would your credit union care about this change? Well, it affects your marketing strategy. If you’ve been using targeted ads across the web, it may require a rethink.

Of course, with our company’s Learning Library and laser-focus on providing honest, quality content, we lean towards the old-school SEO path. It’s not just us suggesting that strategy, either.

How to deal with this upcoming change? Connect with members. Produce great content. Share on social media. Use e-mail, text (SMS), and notifications, when appropriate. Don’t just say you’re unique. Be it.

Changing Norms

Finding this balance between “invading” privacy (through any means) and providing a useful service is a challenge.

It’s also essential to your future. At the same time, norms regarding what information can be shared is changing.

People are now ok with some forms of data exchange (I give you my information for this service).

My intention in this post was to expose you to just some of the methods in use today for tracking. And give you something to think about regarding member privacy.

Part 2 Dives Deeper

We went far enough today. This topic can cover books and still just scratch the surface. It’s changing all the time, both on the tools at your disposal and the strategies taken to get more data.

The second part of this Privacy Guide is going to look at individual risks. We will review privacy settings on phones, discuss some recent hacks that will make you rethink posting “Public”, and preventative tools to lock down your online and real-world presence.

Why, as a credit union, would you care about these things? Great question. First, you’re a person, which means all this applies to you, too. Plus, as a credit union, you aim to protect members’ financial lives.

We will also look at ways your credit union can share information to enhance the member experience. You won’t be alone; it’s already a big deal.

Data is a huge part of every aspect of life. We must ensure it’s moved, secured, and treated with care.

Be sure to Subscribe to CU Geek so you don’t miss any posts! Also, follow me on Twitter, where I share all sorts of intriguing content. And geek out about Doctor Who. Team TARDIS for life!

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