In the months since the pandemic was announced, SRM’s experts have weighed in on the operational impacts of COVID-19. We also gathered perspectives from a cross-section of banks and credit unions through a survey conducted in the early days of shelter-in-place orders (results from survey 2 coming soon). Now that the bills have come due for April and May, we noticed some unusual emerging trends in the invoice tracking data.
Topics: Vendor management, COVID-19, Vendor Invoice
For years, small businesses have gotten very little help from their financial institutions – and no market segment gets a pass on this one. From mega-nationals to community-sized institutions, small businesses have seldom found the assistance they need. Instead, many institutions have either pushed them to retail accounts or offered these small business owners treasury/commercial services.
Topics: Digital Banking, Economic Recovery, Small Businesses
While community bankers were already weighing options on core processing and digital solution strategies before the pandemic, these decisions weigh heavily enough now to quickly tip the scales of survival. We’ve already shared our thoughts on how the “shelter in place” environment and its aftermath gave a serious jolt to any bank or credit union leader still on the fence about the importance of a robust digital backbone.
Topics: Digital Banking, Contract Negotiation, COVID-19, Core Systems, Core Platforms, Core Processing
In our last blog post, several SRM experts weighed in on the future of banking in the now normal - how consumer spending behaviors would influence branch operations and non-interest lines of revenue. In this post, we will shift our focus to big data, cyber risks and the need to reinforce legacy infrastructure.
Topics: COVID-19, Digital Channels, Card Branding, big data
