![BNPL-Blog-Image[83]](https://blog.srmcorp.com/hs-fs/hubfs/BNPL-Blog-Image%5B83%5D.png?width=932&name=BNPL-Blog-Image%5B83%5D.png)
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.
Topics: Digital Banking, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Buy Now Pay Later, BNPL, Installment Loans
![Crypto-Blog-Image[57]](https://blog.srmcorp.com/hs-fs/hubfs/Crypto-Blog-Image%5B57%5D.png?width=932&name=Crypto-Blog-Image%5B57%5D.png)
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.
Topics: Vendor Contract Negotiation, Cryptocurrency, Bitcoin, Bank Vendor Management, Credit Union Vendor Management, Digital Assets
![ESG-Blog-Image[19]](https://blog.srmcorp.com/hs-fs/hubfs/ESG-Blog-Image%5B19%5D.png?width=932&name=ESG-Blog-Image%5B19%5D.png)
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.
Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Gen Z, Brand Loyalty, ESG, Climate Change
![Recruitment_Blog_Image[27]](https://blog.srmcorp.com/hs-fs/hubfs/Recruitment_Blog_Image%5B27%5D.jpg?width=932&name=Recruitment_Blog_Image%5B27%5D.jpg)
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.
Topics: Payments, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Rewards Programs, Gen Z
![Loyalty_WP_Blog_Image[61]](https://blog.srmcorp.com/hs-fs/hubfs/Loyalty_WP_Blog_Image%5B61%5D.jpg?width=932&name=Loyalty_WP_Blog_Image%5B61%5D.jpg)
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.
Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Branding, Loyalty, Sustainability
![Stablecoins_Blog_Image[20]](https://blog.srmcorp.com/hs-fs/hubfs/Stablecoins_Blog_Image%5B20%5D.jpg?width=932&name=Stablecoins_Blog_Image%5B20%5D.jpg)
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.
Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, DeFi, Stablecoins, CBDC
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In a recent post, we discussed two trends we anticipate driving strategy discussions for bank and credit union leadership teams in 2022. Our first trend breakdown focused on operational items – including back-office automation, loan originations, branch footprints, and artificial intelligence.
This blog will look at evolving customer trends that financial institutions (FIs) should address to maintain their valuable status as financial services providers of choice.
Topics: Payments, Vendor Contract Negotiation, Credit Card, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Buy Now Pay Later
![NCUA-Crypto-Blog-Image[61]](https://blog.srmcorp.com/hs-fs/hubfs/NCUA-Crypto-Blog-Image%5B61%5D.png?width=932&name=NCUA-Crypto-Blog-Image%5B61%5D.png)
The National Credit Union Association delivered an early gift to the institutions it regulates – guidance for handling digital assets such as cryptocurrency.
A growing number of credit unions have shown interest in offering crypto services to their members. Still, many have been reluctant to take the plunge without parameters from the NCUA. The agency’s guidance should provide some comfort for leery executives.
Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, DeFi, Digital Assets
![Trends_2022_Blog_Image[84]](https://blog.srmcorp.com/hs-fs/hubfs/Trends_2022_Blog_Image%5B84%5D.png?width=932&name=Trends_2022_Blog_Image%5B84%5D.png)
With changing economic conditions, inflation, COVID-19’s continued fallout, and escalating consolidation in the financial services space, predicting what’s to come in the new year is anything but certain. Despite the challenging environment, the consultants and analysts at SRM have identified key trends that will impact banks, credit unions, and fintechs in 2022.
Rather than scrambling to adjust as they play out throughout the year, we advise financial institutions to embrace the wave ahead and implement these trends into their 2022 planning.
Enjoy part one of two in our series on what’s in store for the year ahead.
Topics: Vendor Contract Negotiation, Automation, Bank Vendor Management, Credit Union Vendor Management, Loan Growth
![Revenue_Blog_Image[96]](https://blog.srmcorp.com/hs-fs/hubfs/Revenue_Blog_Image%5B96%5D.png?width=932&name=Revenue_Blog_Image%5B96%5D.png)
It will be difficult for financial institutions to boost revenue in 2022 – many will need to be more innovative than ever to add customers, book loans, and bring in fees.
Interest rates should remain low next year, and competition will intensify as loan demand returns. Customers’ shifting preference for digital channels will require tech investments that will further pinch bottom lines.
Financial institutions are looking at niche businesses, acquiring loan portfolios, and creative revenue strategies to offset those pressures. Here’s a look at some tactics being employed.
Topics: Fintech, Bank Vendor Management, Credit Union Vendor Management, Buy Now Pay Later, Cannabis Banking, Revenue
