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SRM Perspectives on Key Industry Trends

How to Navigate the Shifting Winds with Overdraft Fees

Posted by Keith Ash on Apr 25, 2022 11:19:09 AM

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Several high-profile banks, including Capital One, Citigroup, Wells Fargo, and Bank of America, have announced plans to either eliminate or dramatically reduce overdraft (OD) and nonsufficient funds (NSF) fees. It could be argued that these banks made this leap before regulators, including the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC), required them to do so.

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Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Regulations, Deposits, Overdraft

How to Prepare for an Intensified Fight for Deposits

Posted by Tim Keith on Apr 14, 2022 1:04:03 PM

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The prolonged period of taking deposit gathering for granted seems to be nearing an end.

Financial institutions have been awash in deposits for years, flush with liquidity. According to data from the Federal Deposit Insurance Corp, deposit balances at banks have risen by 35% in the past two years alone.

The bigger challenge has been finding ways to put those deposits to use in profitable ways.

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Topics: Bank Consulting, Credit Union Consulting, Deposits, bank customer acquisition, credit union customer acquisition

Key Takeaways from CUNA GAC: Challenging Times Ahead

Posted by Paul Davis on Mar 8, 2022 9:16:42 AM

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The CUNA Governmental Affairs Conference was in-person for the first time in three years, giving many credit union executives a long-overdue chance to have face-to-face meetings.

 

SRM made the most of the week, engaging with scores of executives, getting a sense of their challenges and opportunities, and lining up discussions to assist in crafting strategies and finding solutions for both.

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Topics: Digital Banking, Vendor Contract Management, Cryptocurrency, Credit Union Vendor Management, Cryptocurrency for Banks and Credit Unions, Loan Growth, Deposits, Overdraft

3 Key Considerations Before Rolling Out a Crypto Platform

Posted by Patti Wubbels on Feb 1, 2022 9:44:49 AM

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Many of you will remember the initial fear experienced when the Internet debuted in the 1990s. At the time, the popular narrative was that every business, no matter how big or small, would be on the information superhighway by the year 2000, replacing conventional media forms like newspapers, billboards, and the yellow pages. Fast forward nearly 30 years, and now everyone’s life is touched (and in many ways, sustained) by the Web.

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Topics: Vendor management, Cryptocurrency, Fee Income, Deposits

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