Welcome To
The Bottom Line

SRM Perspectives on Key Industry Trends

BNPL: Why Banks and Credit Unions Need to Pay Attention

Posted by Keith Ash on May 26, 2022 9:30:00 AM

BNPL-Report-Blog-Image[50]


Financial institutions of all sizes are under pressure to find new revenue sources and solidify their status as customers' trusted financial advisors. One would think FIs would race to participate in a lending category projected to grow significantly in coming years – and one where 70% of consumers indicated in a recent survey that they'd prefer access through their bank.

That isn’t necessarily the case. Surprisingly, a study by IntraFi Network found that 80% of community banks and credit unions have no plans to introduce Buy Now, Pay Later (BNPL) services. A new SRM report details why FIs should closely examine this opportunity – not only as a revenue generator but also to defend current and future business.

Read More

Topics: Fintech, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Buy Now Pay Later, BNPL, Consumer Lending

Fintech is Redefining Community Banking

Posted by Paul Davis on May 2, 2022 9:30:00 AM

Community-Banking-Blog[67]

Fintech is helping a growing number of banks and credit unions reconfigure the communities they serve.

Historically, financial institutions have focused on clients based on geography, be that a neighborhood or city for banks or a local company or industry for credit union membership. Over time, those boundaries became more fluid as banks entered new markets and credit unions expanded their fields of membership.

Read More

Topics: Fintech, Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Segmentation, Banking-as-a-Service, BaaS

How to Navigate the Shifting Winds with Overdraft Fees

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

Overdraft-Blog-Image

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.

Read More

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

Credit Union Buyers, Regulatory Delays, and More: Bank M&A Trends to Watch

Posted by Paul Davis on Mar 28, 2022 11:21:12 AM

Mergers-Blog-Image

 

As summer approaches, bank consolidation has been steady but not as brisk as many thought.

 

There have been 37 transactions announced by March 18, 2022. If this pace continues, it would be about 25% below last year, though many of 2021's deals were in the works before the pandemic. As with many other business transactions, they were shelved as Covid-19 took hold.

Read More

Topics: Vendor Contract Negotiation, Bank Vendor Management, Mergers & Acquisitions, Expense Management, Credit Unions

The Increasing Chatter Around Conversational AI

Posted by Connor Heaton on Mar 22, 2022 9:30:00 AM

Conversational-AI-Blog-Image[90]

Conversational artificial intelligence (AI) has been one of the hottest areas in fintech for nearly a decade, with an array of startups executing on a vision originating from 1950s science fiction. Initially, the “conversation” was limited to text chatbots, but more entities, including financial institutions, have implemented voice-enabled chat, offering real-time responses and support for queries made over the phone and through devices like Alexa and Google Home.

Read More

Topics: Vendor Contract Negotiation, Artificial Intelligence, Bank Vendor Management, Credit Union Vendor Management, Conversational AI

Crypto’s Resiliency Spurs Interest from Financial Institutions

Posted by Larry Pruss on Mar 16, 2022 9:30:00 AM

Crypto-WP-Blog-Image[94]

Standing-room-only crowds during breakout sessions at recent industry conferences nationwide are a strong indicator of financial institutions’ growing interest in cryptocurrency and other digital assets.

Read More

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

Executive Order Cements Crypto's Role in Mainstream Banking

Posted by Larry Pruss on Mar 9, 2022 3:45:20 PM

Crypto-Executive-Order-Blog-Image

The Biden Administration issued its anticipated executive order seeking to coordinate efforts among federal agencies to craft a national policy for digital assets.

While some pundits are worried about the impact of regulation, we assert that this effort brings digital assets, including cryptocurrency, into the mainstream, which should be a positive for financial institutions looking to operate in the space. 

Read More

Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Cryptocurrency for Banks and Credit Unions, Digital Assets, Blockchain

Is BNPL a Missed Opportunity for Financial Institutions?

Posted by Keith Ash on Feb 28, 2022 11:30:00 AM

BNPL-Blog-Image[83]

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.

Read More

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

Volatility Shouldn’t Derail Your Crypto Strategy

Posted by Larry Pruss on Feb 22, 2022 9:30:00 AM

Crypto-Blog-Image[57]

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.

Read More

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

ESG Initiatives Can Cement Customer Loyalty

Posted by Jehan Sherjan on Feb 15, 2022 10:30:00 AM

ESG-Blog-Image[19]

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.

Read More

Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Gen Z, Brand Loyalty, ESG, Climate Change

Content not found

Subscribe to our blog

Recent Posts

Posts by Topic

see all