Credit Unions and DeFi: Becky Reed on Combatting Fraud with Web3

Banking on Fraudology

Banking on Fraudology is presented by Unit21.

Unit21’s Risk and Compliance Infrastructure empowers your team to proactively combat financial crime and make informed decisions throughout the customer lifecycle. Configurable to your organization’s unique risk profile, Unit21 unifies data silos into a comprehensive, end-to-end solution that helps reduce the impact of financial crime on your organization and your customers.

Learn more about our sponsor, Unit21:

- See Unit21 in action https://www.unit21.ai/podcast

- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/

- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0

In this episode, our host Hailey Windham is joined by Becky Reed, a 30-year veteran in the credit union industry and an expert in technology and leadership. Together, they explore the transformative potential of blockchain and web3 technologies in enhancing fraud detection and data transparency in financial institutions.

We'll discuss how traditional payment systems struggle with inefficiencies and how cryptocurrencies and distributed ledger technologies could offer real-time solutions and stronger consumer protection. Becky Reed shares insights from her new book, "Credit Unions and a Financial Renaissance," and breaks down key concepts like decentralized finance (DeFi) and self-sovereign digital identities.

From the misconception that smaller credit unions lack innovation to the importance of digital identity and the future of decentralized networks, this episode is packed with valuable information for anyone interested in the evolving landscape of financial technology. So, tune in as we uncover how credit unions can adapt to future innovations and effectively protect their members from fraud. Let’s get started!

About Hailey Windham:

As a 2023 CU Rockstar Recipient, Hailey Windham, CFCS (Certified Financial Crimes Specialist) demonstrated unbounding passion for educating her community, organization and credit union membership on scams in the market and best practices to avoid them. She has implemented several programs within her previous organizations that aim at holistically learning about how to prevent and detect fraud targeted at membership and employees.

Windham’s initiatives to build strong relationships and partnerships throughout the credit union community and industry experts have led to countless success stories. Her applied knowledge of payments system programs combined with her experience in fraud investigations offers practical concepts that are transferable, no matter the organization’s size.

Connect with Hailey on LinkedIn: https://www.linkedin.com/in/hailey-windham/

Connect with Becky: https://www.linkedin.com/in/becky-reed-50056518/

Get Becky's Book: https://a.co/d/2V3kEFP

Banking on Fraudology is part of the Fraudology Podcast Network.