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SRM Perspectives on Key Industry Trends

Stablecoins Could Enter the Mainstream in 2022

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

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

The Banking Trends That Will Define 2022, Part Two

Posted by Ben Mrva on Dec 28, 2021 9:30:00 AM

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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.

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Topics: Payments, Vendor Contract Negotiation, Credit Card, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Buy Now Pay Later

How Credit Unions Can Take Advantage of the NCUA’s Crypto Guidance

Posted by Patti Wubbels on Dec 20, 2021 9:30:00 AM

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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.

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

Credit Unions and Crypto: Setting the Ground Rules

Posted by Larry Pruss on Oct 11, 2021 9:30:00 AM

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In late July, the National Credit Union Administration (NCUA) issued a request for comment on the current uses of digital assets and their potential impact on the financial system. The NCUA plans to use this input to help shape its role in safeguarding consumers and the system as these emerging technologies evolve.

The request largely mirrors previous outreach by bank regulators, although the NCUA expanded its scope to include the rapidly growing field of decentralized finance (DeFi). Unfortunately, the credit union response has been muted, so the NCUA extended its deadline for comments to October 27. SRM encourages credit unions to make their voices heard on this strategically important issue.

SRM responded to the NCUA, which you can read here. Our NCUA letter serves as a solid primer on the cryptocurrency topic and includes several examples of existing banking initiatives, the highlights of which we’ll summarize below.

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Topics: Cryptocurrency, DeFi, Decentralized Finance, Digital Asset Regulation, Cryptocurrency for Banks and Credit Unions

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