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To gauge the strategic challenges and priorities facing financial institutions in the year ahead, The Financial Brand asked four banking experts what a brand new bank or credit union might look like if it launched tomorrow. Would it be built entirely around digital channels and new technologies? Learn more about what they had to say.

A progress update has been given on a credit union-backed initiative aimed at creating a global digital identity solution for CU members. Known as MyCUID, the effort is part of CULedger, which was launched in 2016 by the MountainWest Credit Union Association and which has since expanded to include CUNA, with investments in the millions of dollars from approximately 40 organizations.

There are many contenders working towards developing a universal digital ID system and away from static passwords. A group of credit unions is ready to see if its blockchain-based approach can serve a wider market.

John Siracusa flew to Hilton Head, South Carolina to attend the AFT Fall Summit where he interviewed prominent members of the association. AFT stands for the Association of financial Technology and its members span the gamut of traditional fintech service providers.  The purpose of the event is to bring together the leaders from the financial technology ecosystem, many of which directly compete with each other. Be sure to listen to the full interview with Julie Esser, Chief Engagement Officer at CULedger.

Imagine a company that can verify the background of a new employee and onboard them with the click of a single virtual button, or a banking customer who can verify their identity for a loan without exposing personally identifiable information – again with a click of a button. That's the potential blockchain holds for decentralized identity management