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SRM Perspectives on Key Industry Trends

Liquidity, Regulatory Uncertainty, and Fintech Emerge as Major Themes at Annual Conference

Posted by Paul Davis on Feb 6, 2024 11:09:00 AM

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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

Operational Agility Will Be Critical in 2024

Posted by Neil Dougherty on Jan 31, 2024 11:03:00 AM

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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

Prepare Now for CFPB Clampdown on Overdraft, NSF Fees

Posted by Paul Davis on Jan 25, 2024 11:07:00 AM

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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

Delay Deploying Instant Payments at Your Own Risk

Posted by Dean Nolan on Jan 17, 2024 11:02:00 AM

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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

How to Gain an Edge Making 2024 Financial Targets

Posted by Paul Davis on Jan 16, 2024 11:15:00 AM

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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

Collaboration, Expanding Services, and Emerging Tech: Six Takeaways from Money 20/20

Posted by Larry Pruss on Nov 2, 2023 11:27:00 AM

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After attending my first Money 20/20 conference I came away with an insightful experience filled with thought-provoking discussions on the future of finance. Over four jam-packed days, I captured notes from 16 sessions covering a wide swath of topics that are sure to (re)shape financial services.

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Topics: Vendor Contract Negotiation, Artificial Intelligence, Bank Vendor Management, Credit Union Vendor Management, Crypto, instant payments

Debit Interchange Finds Itself in the Fed's Crosshairs

Posted by Myron Schwarcz and Keith Ash on Oct 31, 2023 11:02:00 AM

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Most of this year's chatter surrounding card interchange has centered on the prospects for the Credit Card Competition Act's passage. While this pending legislation remains on the watch list, the plot has taken a sudden twist. The Federal Reserve, at an October 25 meeting, pulled debit interchange squarely back onto center stage.

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Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Durbin Amendment, Debit Cards, Interchange Fees

Finding the Right Partners Matters with Card Conversions

Posted by Jeff Ostheimer on Oct 3, 2023 11:03:00 AM

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The financial landscape evolves fast, with banks and credit unions constantly seeking ways to enhance their services, stay competitive, and comply with laws and regulations. One significant challenge they face is the conversion of their card processors – a complex and mission-critical task that can benefit from the expertise of a consulting partner.

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Topics: Fintech, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Credit Cards, Card Processing, Debit Cards

Reputation Matters When Evaluating Transformation Initiatives

Posted by Simon Rose on Sep 28, 2023 11:05:00 AM

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Reputation. It’s the single most important factor for any organization and should always be a key consideration for financial institutions evaluating any strategic, operational, and technology initiatives.

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Topics: Technology, Innovation, Fintech, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Transformation, Reputation

FedNow Assures Wholesale Adoption of Instant Payments

Posted by Dean Nolan on Sep 21, 2023 3:00:00 PM

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Instant payments have been on the radar for some time – The Clearing House’s RTP Network has been operational since late 2017. But the Federal Reserve’s launch of FedNow, the second instant payments network in the US, has reshaped the landscape – shifting the dialogue from “if instant payments will take hold” to “when and how will they take hold.” This was evidenced when over 1,750 people joined the Fed’s recent town hall on the topic – a potent indicator of market interest.

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Topics: Bank Vendor Management, Credit Union Vendor Management, FedNow, Real-time payments, RTP Network, instant payments

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