![Breaking-Down-Concerns-CU-Leaders-Blog-Image_FNL[78]](https://blog.srmcorp.com/hs-fs/hubfs/Breaking-Down-Concerns-CU-Leaders-Blog-Image_FNL%5B78%5D.jpg?width=829&height=476&name=Breaking-Down-Concerns-CU-Leaders-Blog-Image_FNL%5B78%5D.jpg)
It’s an understatement to say that 2023 has been demanding for credit unions.
A flurry of interest rate hikes has created balance sheet challenges. The recent failures of two large banks, and the voluntary liquidation of another, have created questions about the public’s underlying confidence in the financial services industry.
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Topics:
Digital Banking,
Vendor Contract Negotiation,
Bank Vendor Management,
Credit Union Vendor Management,
Deposits,
CFPB,
Overdraft Fees

In today’s digital age, credit unions must create an exceptional online experience for members across a spectrum of products and services. The ability to “humanize the digital experience” will shape how credit unions can anticipate and map out how members move across channels.
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Topics:
Digital Banking,
Vendor Contract Negotiation,
Bank Vendor Management,
Credit Union Vendor Management,
Onboarding

Open banking gives third-party financial service providers open access to consumer banking, transactions, and other financial data through application programming interfaces (APIs). It allows for the networking of accounts and data across institutions for use by consumers, FIs, and third-party service providers, according to Investopedia.
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Topics:
Open Banking,
Digital Banking,
Vendor Contract Negotiation,
Bank Vendor Management,
Credit Union Vendor Management,
Embedded Finance,
Embedded Fintech
![30-Year-Anniversary-Blog-Image[5]](https://blog.srmcorp.com/hs-fs/hubfs/30-Year-Anniversary-Blog-Image%5B5%5D.png?width=1600&name=30-Year-Anniversary-Blog-Image%5B5%5D.png)
Sometimes it’s hard to believe 30 years have passed since our founder Curtis Downs took the concept of developing contract benchmarks and applying them to help banks, credit unions, and others achieve critical savings – the underlying value proposition behind SRM. That foundation has allowed our clients to add more than $5 billion to their bottom line over the years.
It's fascinating to look back three decades and see the rate of change that has taken place in the financial services industry. As we acknowledge our company’s 30th anniversary this year, I want to highlight some significant changes in financial services that have also challenged and motivated SRM to evolve.
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Topics:
Payments,
Digital Banking,
Vendor Contract,
Interchange,
Regulation
![Forbes-Investors-Blog-Image[83]](https://blog.srmcorp.com/hs-fs/hubfs/Forbes-Investors-Blog-Image%5B83%5D.png?width=1598&name=Forbes-Investors-Blog-Image%5B83%5D.png)
In a recent conversation with a Colorado banker about tech strategies, he mentioned a looming investor meeting. He was putting together an overview and was trying to decide the best way to proceed.
"These are the people who provide the underlying support for what we're doing, so I want to make sure they know the road we're on will provide the value they want," he told me.
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Topics:
Digital Banking,
Vendor management,
Cryptocurrency,
Digital Assets,
Banking-as-a-Service

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

In recent years, challenger banks, neobanks, and other fintech startups have intensified their efforts to compete as financial services providers. Now, regulators have renewed interest in shifting the odds in their favor.
By obtaining a new specialized charter through the Office of the Comptroller of the Currency (OCC), new competitors may gain strategic advantages over more conventional banks and credit unions.
Here is a closer look at some legal and regulatory developments which could determine just how entrenched fintechs will become in the payments system – and how competitive they can be with core banking products and services.
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Topics:
Payments,
Fintech,
Digital Banking,
FDIC,
Challenger Bank,
Neobank,
Growth Strategies

SRM recently released its list of 2021 midyear trends that banks and credit unions should monitor during the second half of this year. Naturally, these developments didn’t appear out of thin air – our top-performing project managers and experts make it their business to examine and spotlight those topics which carry the greatest strategic impact for payments and financial services.
In this post, SRM shines a light on some big acts we’ve long anticipated will draw attention by the millions, billions, and trillions.
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Topics:
Digital Banking,
Vendor Contract Negotiation,
Bank Vendor Management,
Credit Union Vendor Management,
payment trends,
Voice Assistants
![Fintech_Blog_Image[40]](https://blog.srmcorp.com/hs-fs/hubfs/Fintech_Blog_Image%5B40%5D.png?width=862&name=Fintech_Blog_Image%5B40%5D.png)
Financial Institutions (FIs) have long had a curiosity regarding fintech.
There were concerns that these digital disruptors would create more competition for traditional financial services providers (without as much regulatory oversight), but banks and startups are starting to embrace opportunities to collaborate.
Conversations about partnerships between FIs and fintech intensified in the wake of the coronavirus pandemic, as scores of consumers and businesses became digital converts and there was a greater need to make day-to-day tasks easier (and safer) for those customers.
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Topics:
Fintech,
Digital Banking,
Online Lending,
M&A