Welcome To
The Bottom Line

Major League Baseball just completed its All-Star Break, which is traditionally seen as an opportunity to assess the season’s performances to date. We at SRM do something similar, revisiting our annual list of industry trends impacting banks and credit unions’ growth strategies and vendor contract relationships.

It’s been an action-packed first half of 2019. The trends we highlighted at the beginning of 2019 are actively shaping the financial services market and decisions being made by banks and credit unions. Here’s a quick summary to detailed analysis of the topics we’ve provided throughout the year. 

One of SRM’s core values is initiative – having the grit and drive to go above and beyond to offer what people need, without needing to be asked. With this value in mind, our very own Kim Hennessy initiated organizing Strategic Resource Management’s companywide service day. On Friday, May 31, SRM reps from our Memphis, Tenn., headquarters as well as offices in Dallas, Philadelphia and the Virgin Islands, all took part in dedicating a day to volunteer with a local nonprofit of their choosing.

Fall has arrived and the holidays will be here before we know it. What this means for many of us is that Q3 is closing and budget priorities for 2019 are being finalized. In the spirit of this special time of year, SRM wants to revisit a few vendor contract management reminders that may be useful to you at this time.

These tips are not only useful during budget season when the hunt for savings that can be used to fund other initiatives is vital. They can also help you add value to your institution throughout the year. In fact, vendor performance management should be a year-round discipline. We know now that finding ways to reduce costs or enhance revenues can be particularly important.

MEMPHIS, Tenn., November 19, 2015 – NAFCU Services Corporation has selected Strategic Resource Management (SRM), a proven leader in the bottom line enhancement industry, as the preferred partner for vendor cost benchmarking and contract negotiation services.  SRM joins a distinguished group of 30 NAFCU preferred partners carefully selected by leaders in the credit union industry.

Strategic Resource Management, Inc. (SRM) is pleased to announce its Endorsed Service Provider partnership with the New Jersey Bankers Association. The partnership was approved following a proposal submission process and vote of the New Jersey Bankers Association Service Corporation Board of Directors.  Through this partnership, New Jersey banks will have direct access to SRM’s suite of services which include vendor contract benchmarking, contract negotiation, and revenue enhancement.  

Strategic Resource Management, Inc. (SRM) is pleased to partner with ECUC and its member credit unions through the new Business Partners Program. SRM specializes in cost saving and revenue enhancement strategies that will improve your bottom line. Working in areas such as card branding, card processing, online banking and bill payment, as well as 20 other vendor categories, SRM has implemented over $50 million in cost savings for its multiple ECUC member clients.

Now that the 10 major credit card issuers in the United States are converting to chip-based credit and debit cards, and two-thirds of leading retailers preparing to accept them, expectations are high that these EMV cards will dramatically reduce fraud.

In the Jan. 7, 2015 issue of “PaymentsSource,” Strategic Resource Management executive vice president Bob Koehler commented on Apple’s negotiation stance with the Apple Pay product.

December 11 –  As the clock ticks on passage of the government spending bill, reaction has varied widely on a provision that was added to revise the Dodd-Frank financial reform act. At issue is the “swaps pushout rule,” which has yet to take effect.

LAS VEGAS — On day two of the sprawling Money20/20 conference at the Aria Resort here, speakers waded into many of the era’s hot button topics including interchange to bank branch reinvention, tokenization and card not present fees.