The Bottom Line

Get to the bottom of all things banking with weekly expert musings from SRM. The Bottom Line takes what we hear from financial institutions, fintechs, and industry influencers - separating the news from the noise. We offer unfiltered observations and thoughtful forecasts responding to industry developments and trends as they happen, with emphasis on how financial institutions can better serve their stakeholders.

Are Vendor Contract Management Gaps Costing You Millions?

Posted by Simon Rose and Patti Wubbels on Nov 26, 2019 2:15:13 PM

Supplier Agreements Costing You Millions

One of the notable trends to watch out for in 2020 is that financial institutions are becoming more and more comfortable partnering with fintechs, rather than seeing them as competition. Indeed, to keep pace with the tech innovations driving our society, banks and credit unions wishing to attract and retain consumers must do business with an ever-growing number of vendors – many at various stages of development corporately. This fact of life in the digital age has led to a proliferation of contract types and terms. 

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Topics: Vendor Contract Negotiation

A Reflection within the Payments Pond: Response to Money 20/20

Posted by Richard Whiddon on Nov 10, 2019 9:00:00 AM

SRM Money 2020

Las Vegas played host to another Money 20/20 the last week of October, this year’s theme being, "Journey to the Future of Money." Payments experts and influencers from the likes of eBay, Uber, Amazon and Mastercard took the stage to share their predictions on how the movement of money is changing, and to offer advice for how we can all respond.

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Topics: Payments, Money 20/20

Artificial Intelligence - Not Just for the 800-Pound Gorillas

Posted by Fabio de Sant’Anna on Nov 3, 2019 9:00:00 AM

Artificial Intelligence - Not Just for the 800-Pound Gorillas

A colleague of mine recently attended the BankAI conference in Chicago. One of the most interesting presentations, according to him, involved a Midwestern credit union sharing details of its chatbot rollout fueled by the artificial intelligence (AI) tools of a fintech partner.Download: From Artificial Intelligence to Intelligent Automation: A Playbook for Financial Institutions

What set the story apart from the pack was the credit union’s size, a shade under $300 million in assets. It’s often assumed that AI projects are the domain of the largest financial institutions; certainly, their efforts gain the most attention. Bank of America continues to tout the mass adoption of its Erica virtual assistant, and Wells Fargo, Capital One and JPMorgan Chase have spearheaded high profile AI rollouts as well.

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Topics: AI, Artificial Intelligence, Robotic Process Automation

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