Plenty of ink has been spilled on Capital One’s bold move to acquire Discover Financial Services, with most of it revolving around combining two large credit card issuers and the odds of the deal securing regulatory approval.
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Topics: Interchange, Mergers, Credit Cards, Durbin, Debit Cards, Capital One, Debit Network, Discover
Though it is unclear how far the Federal Reserve might go, or when it might act, there is a growing consensus that interest rates will start to come down later this year.
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Topics: Deposits, Loans, Customer Experience, Balance Sheet Management, Interest Rates, CDs, Money Market Accounts
We made the case in a recent blog that banks and credit unions should take a closer look at their consumer lending strategies. With $32 billion of volume in 2023, there has been no shortage of opportunity, spanning existing and prospective customers.
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Topics: Regulation, Compliance, Efficiency, Credit Union, Customer Experience, Outcomes Bank
Bank Director’s Acquire or Be Acquired Conference remains a prime-time event for understanding the ever-evolving dynamics in the banking industry (beyond the prominent M&A theme) and copious amounts of networking. Over the four-day conference, there were more than 2,000 attendees this year – and the SRM contingent did its best to connect with as many industry pros as possible.
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Topics: Bank Vendor Management, Credit Union Vendor Management, Deposits, Hiring, Regulation, liquidity, Risk Management, Fintech Contract Negotiation
Bankers have entered what many view as a challenging year for financial institutions of all sizes. There is plenty of uncertainty surrounding the regulatory environment, credit quality, and the Fed’s plans for interest rates.
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Topics: Innovation, Fintech, Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Expenses, Profit, Core Contracts
The CFPB has proposed a rule to limit overdraft charges at larger U.S. banks and credit unions – though financial institutions of all sizes should take note.
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Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Fee Income, CFPB, Regulation, Overdraft Fees, NSF Fees, Service Charges
We've heard several financial institutions intend to delay deploying instant payments capabilities, such as FedNow and The Clearing House's RTP Network, until 2025 as part of broader cost-control initiatives.
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Topics: Payments, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, FedNow, Real-time payments, RTP Network, instant payments
Financial institution executives who found 2024’s budget cycle particularly vexing are in good company. The unrelenting pace of technology, regulatory, and economic change makes allocating resources and meeting financial goals especially challenging. Time will tell if this is simply the “new normal,” but most internal processes have yet to adapt to these new demands.
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Topics: Digital Banking, Vendor Contract Negotiation, AI, Artificial Intelligence, Bank Vendor Management, Credit Union Vendor Management, Interchange, Regulation, Debit Cards
Growth-focused companies rarely get excited about sectors with slow compound annual growth rates.
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Topics: Consumer Lending, Strategy, Distribution Channel, Product Proposition, Consumer Banking
SRM's experts spent much of 2023 tracking emerging developments in technology, regulation, and general trends in the financial markets.
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Topics: Payments, Vendor management, AI, Artificial Intelligence, Deposits, Regulation, liquidity, Interchange Fees
