It is a scenario every credit union dreads – a security breach that either compromises member data or locks employees out of network servers.
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Topics: Vendor management, Credit Unions, Cyberattacks, Encryption, Cybersecurity, Zero Trust Architecture
I recently attended the Fintech + Insurtech Generations conference in Charlotte, N.C., which brings together visionaries across the broad spectrum of finance and technology.
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Topics: Payments, Open Banking, Digital Assets, Blockchain, Regulation
![Tokenization-Blog-Image[47]](https://blog.srmcorp.com/hs-fs/hubfs/Tokenization-Blog-Image%5B47%5D.jpg?width=829&height=476&name=Tokenization-Blog-Image%5B47%5D.jpg)
Most bankers associate the term “tokenization” with data security and authentication routines used to prevent system intrusions. Apart from a handful of innovators, few institutions have focused on tokenization – the process of creating a digital representation of any item of value.
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Topics: Payments, Blockchain, FedNow, Tokenization, Commercial Banking
Sens. Dick Durbin (D-Ill.)t, Peter Welch (D-Vt.), Roger Marshall (R-Kan.), and J.D. Vance (R-Ohio) have re-introduced the bipartisan Credit Card Competition Act of 2023 (CCCA). Companion legislation was introduced in the House by Reps. by Lance Gooden (R-Texas) and Zoe Lofgren (D-Calif.).
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Topics: Visa, Interchange, credit card competition act, Durbin, Mastercard, Issuers
For several years, federal stimulus dollars swelled the checking account balances of many consumers, who found few, if any, safe alternatives to earn higher yields. That era has now receded into the rearview mirror.
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Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Deposits, liquidity, Gig Economy
Real-time payments (aka RTP) have become an increasingly hot topic for bankers as the launch of FedNow, a new instant payment infrastructure established by the Federal Reserve, nears. It will enable financial institutions of every size across the U.S. to provide safe and efficient instant payment services. The service moves from the pilot stage to a full launch in July 2023 and will be rolled out in several phases of functionality.
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Topics: Vendor Negotiation, Mortgages, FedNow, Real-time payments, RTP, The Clearing House
