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SRM Perspectives on Key Industry Trends

Credit Union Buyers, Regulatory Delays, and More: Bank M&A Trends to Watch

Posted by Paul Davis on Mar 28, 2022 11:21:12 AM

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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.

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Topics: Vendor Contract Negotiation, Bank Vendor Management, Mergers & Acquisitions, Expense Management, Credit Unions

The Increasing Chatter Around Conversational AI

Posted by Connor Heaton on Mar 22, 2022 9:30:00 AM

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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.

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Topics: Vendor Contract Negotiation, Artificial Intelligence, Bank Vendor Management, Credit Union Vendor Management, Conversational AI

Crypto’s Resiliency Spurs Interest from Financial Institutions

Posted by Larry Pruss on Mar 16, 2022 9:30:00 AM

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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.

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Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Digital Assets, Blockchain

Executive Order Cements Crypto's Role in Mainstream Banking

Posted by Larry Pruss on Mar 9, 2022 3:45:20 PM

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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. 

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Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Cryptocurrency for Banks and Credit Unions, Digital Assets, Blockchain

Is BNPL a Missed Opportunity for Financial Institutions?

Posted by Keith Ash on Feb 28, 2022 11:30:00 AM

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Buy Now Pay Later (BNPL) has emerged as one of the most discussed and fastest-growing areas in consumer lending. What has been surprising is the unwillingness of many financial institutions to add it to their product offerings, according to a recent survey by IntraFi Network. Though BNPL upstarts like Klarna and Affirm continue to claim new territory, the survey indicates that 80% of community banks have no plans to add these services.

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Topics: Digital Banking, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Buy Now Pay Later, BNPL, Installment Loans

Volatility Shouldn’t Derail Your Crypto Strategy

Posted by Larry Pruss on Feb 22, 2022 9:30:00 AM

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Volatility tends to be a two-way street, so the recent price correction in Bitcoin and other cryptocurrencies shouldn’t come as a shock. Still, that doesn’t take the sting out of the size and speed of the recent decline in Bitcoin, which lost more than half its value between mid-November and late January.

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Topics: Vendor Contract Negotiation, Cryptocurrency, Bitcoin, Bank Vendor Management, Credit Union Vendor Management, Digital Assets

ESG Initiatives Can Cement Customer Loyalty

Posted by Jehan Sherjan on Feb 15, 2022 10:30:00 AM

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Environmental, Social, and Governance (ESG) factors play an increasing role in bank and credit union decision-making. Climate considerations, whether the result of government mandates, shareholder activism, or environmental shifts, have altered risk assessment models. Additionally, the prospect of regulators adding ESG metrics to examination criteria is gathering steam.

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Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Gen Z, Brand Loyalty, ESG, Climate Change

How Financial Institutions Are Trying to Appeal to Younger Consumers

Posted by Paul Davis on Jan 18, 2022 9:30:00 AM

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Financial institutions (FIs) of all sizes struggle to recruit and retain younger employees and customers – a challenge exacerbated by the rise of neobanks that offer enhanced experiences, streamlined processes, and faster decisions.

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Topics: Payments, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Rewards Programs, Gen Z

The New Metrics of Consumer Loyalty

Posted by Jehan Sherjan on Jan 13, 2022 9:30:00 AM

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So many assumptions about banking – and business in general – have shifted over the past 20 months that it’s reasonable to question whether long-held beliefs about consumer loyalty need to be revised as well.

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Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Branding, Loyalty, Sustainability

Stablecoins Could Enter the Mainstream in 2022

Posted by Larry Pruss on Jan 10, 2022 9:30:00 AM

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Most of the excitement surrounding cryptocurrency has focused on Bitcoin and similar altcoins. This is understandable, as this asset class accounts for over 95% of the market value assigned to digital currencies and has been responsible for eye-popping returns in recent years.

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Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, DeFi, Stablecoins, CBDC

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