As summer approaches, bank consolidation has been steady but not as brisk as many thought.
There have been 37 transactions announced by March 18, 2022. If this pace continues, it would be about 25% below last year, though many of 2021's deals were in the works before the pandemic. As with many other business transactions, they were shelved as Covid-19 took hold.
Topics: Vendor Contract Negotiation, Bank Vendor Management, Mergers & Acquisitions, Expense Management, Credit Unions
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Conversational artificial intelligence (AI) has been one of the hottest areas in fintech for nearly a decade, with an array of startups executing on a vision originating from 1950s science fiction. Initially, the “conversation” was limited to text chatbots, but more entities, including financial institutions, have implemented voice-enabled chat, offering real-time responses and support for queries made over the phone and through devices like Alexa and Google Home.
Topics: Vendor Contract Negotiation, Artificial Intelligence, Bank Vendor Management, Credit Union Vendor Management, Conversational AI
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Standing-room-only crowds during breakout sessions at recent industry conferences nationwide are a strong indicator of financial institutions’ growing interest in cryptocurrency and other digital assets.
Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Digital Assets, Blockchain
The Biden Administration issued its anticipated executive order seeking to coordinate efforts among federal agencies to craft a national policy for digital assets.
While some pundits are worried about the impact of regulation, we assert that this effort brings digital assets, including cryptocurrency, into the mainstream, which should be a positive for financial institutions looking to operate in the space.
Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Cryptocurrency for Banks and Credit Unions, Digital Assets, Blockchain
The CUNA Governmental Affairs Conference was in-person for the first time in three years, giving many credit union executives a long-overdue chance to have face-to-face meetings.
SRM made the most of the week, engaging with scores of executives, getting a sense of their challenges and opportunities, and lining up discussions to assist in crafting strategies and finding solutions for both.
Topics: Digital Banking, Vendor Contract Management, Cryptocurrency, Credit Union Vendor Management, Cryptocurrency for Banks and Credit Unions, Loan Growth, Deposits, Overdraft
