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'CU Centric' Mobile Wallet Firm Launched

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LOS ANGELES (9/23/13)--Online banking pioneer Paul Fiore and credit union veteran Kirk Drake are joining with credit unions nationwide in launching CU Wallet, a credit union-centric mobile payments/mobile wallet initiative.
 
A conference call announcing the launch will be held at 10 a.m. ET today. Fiore will be joined by CU Wallet member Paul Parrish, chief financial officer of One Nevada CU, Las Vegas, to give details about the company and answer questions.
 
Fiore, who co-founded the online banking company Digital Insight in 1990s, will serve as CEO of CU Wallet.
 
Drake is founder and CEO of Ongoing Operations LLC, a credit union service organization that provides business continuity and technology solutions. Ongoing Operations is a CUNA Strategic Services provider. He is cited as an adviser to CU Wallet on the firm's website.
 
CU wallet will combine technology with direct credit union ownership, for a mobile payments infrastructure designed for credit unions by credit unions, said the company.