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SRM Perspectives on Key Industry Trends

BNPL: Why Banks and Credit Unions Need to Pay Attention

Posted by Keith Ash on May 26, 2022 9:30:00 AM

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Financial institutions of all sizes are under pressure to find new revenue sources and solidify their status as customers' trusted financial advisors. One would think FIs would race to participate in a lending category projected to grow significantly in coming years – and one where 70% of consumers indicated in a recent survey that they'd prefer access through their bank.

That isn’t necessarily the case. Surprisingly, a study by IntraFi Network found that 80% of community banks and credit unions have no plans to introduce Buy Now, Pay Later (BNPL) services. A new SRM report details why FIs should closely examine this opportunity – not only as a revenue generator but also to defend current and future business.

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Topics: Fintech, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Buy Now Pay Later, BNPL, Consumer Lending

TerraUSD Collapse is a Teachable Moment in Crypto

Posted by Patti Wubbels on May 19, 2022 12:01:10 PM

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Perspective matters when it comes to cryptocurrency.

The demise of the TerraUSD stablecoin has understandably spooked the markets. Any sudden freefall will panic people and make them wonder what’s next.

Investors, and FIs looking to offer crypto services, need to read between the lines and view this crash as an educational opportunity.

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Topics: Cryptocurrency, Digital Assets, Stablecoins, Blockchain, Crypto

Fintech is Redefining Community Banking

Posted by Paul Davis on May 2, 2022 9:30:00 AM

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Fintech is helping a growing number of banks and credit unions reconfigure the communities they serve.

Historically, financial institutions have focused on clients based on geography, be that a neighborhood or city for banks or a local company or industry for credit union membership. Over time, those boundaries became more fluid as banks entered new markets and credit unions expanded their fields of membership.

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Topics: Fintech, Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Segmentation, Banking-as-a-Service, BaaS

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