Welcome To
The Bottom Line

A View of the Industry That Pulls No Punches

SRM Clients Weigh in on Expected COVID-19 Impacts

Posted by Michael Carter on Mar 29, 2020 9:00:00 AM

Covid blog-1

Over two weeks ago, our firm offered perspective on some things banks and credit unions can do to proactively support accountholders during the COVID-19 pandemic. Since then, we have maintained ongoing contact with our more than 1,000 clients as this situation continues to evolve. Additionally, we surveyed our industry network of clients and friends to help us understand how the virus is impacting their financial institution’s operations – and they delivered.  

Read More

Topics: COVID-19, Coronavirus, Digital Channels, Remote Channels, Business Process Improvements

Preparing Your Financial Institution for COVID-19 Impacts

Posted by Larry Pruss on Mar 12, 2020 12:00:00 PM

Covid blog

Being prepared for any potential downside is something bank and credit union executives take quite seriously and, since the early 2000s, have been required by regulators to maintain a pandemic crisis plan. Now all of these plans are being put to the test, especially after the announcement by the WHO that the coronavirus is officially a pandemic.

Even as the business world improves at predicting and defending against risks, Black Swans will always be a possibility. As is characterized by such an event, it’s easy in hindsight to say, “We should have seen this coming,” but the fact remains that we don’t know what we don’t know; e.g., the impacts on the stock market and disruptions to daily life brought on by COVID-19.

Read More

Topics: Digital Banking, Cash, COVID-19, Card Not Present, Coronavirus, Contactless

Does Coinbase’s Visa Deal Breathe New Life Into Crypto?

Posted by Cody Harrell on Mar 4, 2020 2:02:06 PM

48337109607_ab41d74ea0_k (002)

Since 2009, interest in Bitcoin and other cryptocurrencies like it has mostly ebbed and flowed with the volatility of the associated exchange rates. In fact, one could argue that the attention paid to cryptocurrencies has primarily been about speculative investment rather than any real belief that about them replacing traditional currencies. 

The newly announced agreement between Visa and Coinbase may change that area of focus. In December, Visa granted “principal membership” in its network to Coinbase, the first time a cryptocurrency exchange has attained the status. Among other things, this will enable Coinbase to issue Visa-branded debit cards (although not in the United States for the foreseeable future). However, while the near-term impact on U.S. banks and credit unions remains to be seen, it sends a strong signal about the direction of the winds for which institutions should be prepared.

Read More

Topics: Crypto, Cryptocurrency, Bitcoin, Debit

Subscribe to our blog

Recent Posts

Posts by Topic

see all