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The Bottom Line

SRM Perspectives on Key Industry Trends

How Request for Payment Could Revolutionize Point of Sale

Posted by Dean Nolan on Sep 7, 2023 1:00:00 PM

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The advent of instant payments is transforming the global payments landscape. 

 

People are drawn to around-the-clock access to funds, immediacy, irrevocability, and transparency in instant payments. It can also become a rich source of data for many interested parties.

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Topics: Vendor management, Point-of-Sale, FedNow, Real-time payments, instant payments

Why Credit Unions Need a Security-First Mindset

Posted by Cynthia Schroeder on Jun 27, 2023 11:17:00 AM

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It is a scenario every credit union dreads – a security breach that either compromises member data or locks employees out of network servers.

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Topics: Vendor management, Credit Unions, Cyberattacks, Encryption, Cybersecurity, Zero Trust Architecture

Developing a Sidecar Strategy for Tech Innovation

Posted by Jeff Ostheimer on May 23, 2023 11:58:15 AM

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Banks and credit unions are taking a new look at the role their core systems play in delivering products and services to customers.

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Topics: Innovation, Fintech, Vendor management, Core Platforms, Cloud

What Investors Want to Know About Your Tech Strategy

Posted by Paul Davis on Jun 2, 2022 11:02:00 AM

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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

Finding the Right Partners Matters: Takeaways from Acquire or Be Acquired

Posted by Richard Whiddon on Feb 10, 2022 10:40:46 AM

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After a two-year hiatus, Bank Director's Acquire or Be Acquired was back with an in-person event in Scottsdale, AZ, last week.

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Topics: Fintech, Vendor management, Automation, Cryptocurrency, Mergers & Acquisitions, Expense Management

Merger Scrutiny, Overdraft Fees & More: Banking Regulation in 2022

Posted by Paul Davis on Feb 8, 2022 11:47:00 AM

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Financial institutions should brace for substantial regulatory change in the year ahead.

Turnover at the top of several federal agencies, including the Consumer Financial Protection Bureau (CFPB), the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corp. (FDIC), foreshadows more scrutiny for FIs.

Everything seems to be on the table, including timelines for implementing the Current Expected Credit Loss (CECL) accounting standard, data privacy, and Bank Secrecy Act compliance.

There are, however, several areas that we believe merit the most attention in the coming months.

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Topics: Vendor management, Cryptocurrency, Interchange, Regulations, Mergers & Acquisitions, 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

How a CBDC Could Disrupt the US Financial System

Posted by Paul Davis on Jan 27, 2022 9:30:00 AM

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Creating a US central bank digital currency (CBDC) could have several benefits; however, it would also cause a plethora of systemic challenges for the existing financial system.

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Topics: Vendor management, Cryptocurrency, CBDC, Federal Reserve, Blockchain

Digital Banking Dispatches from the Beach | On Shoring Up Your Virtual Identity

Posted by Rob Coile on Jun 6, 2021 9:15:00 AM

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It’s not surprising commerce continues to migrate to digital channels across all sectors and that the pandemic has pushed further the already speedy digital banking trend. In the FI world, consumers rely on their bank or credit union’s virtual branch to navigate real-life decisions.

A recent family trip to Florida’s gulf coast reminded me of how much importance customers put into “What it says on the website.” We visited an area decimated by Hurricane Michael the year prior; although it remains a beautiful destination, the storm’s impact was still evident. Some businesses only had websites left standing, as we soon came to learn.

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Topics: Digital Banking, Vendor management, Process Optimization

5 Ideas to Keep Product Roadmaps Aligned in Vendor Management Talks

Posted by Richard Whiddon on Jul 13, 2020 10:00:00 AM

5 Ideas to Keep Product Roadmaps Aligned in Vendor Management Talks

Given the whirlwind of recent events, it seems like ages since January, when one of our payments experts Larry Pruss weighed in on Visa’s acquisition of Plaid, API aggregator for P2P players such as Venmo. He discussed what this combination could mean for banks and credit unions going forward, reinforcing two key points:  

 

  1. Financial institutions are hungry for objective expert opinions on market developments; and 
  2. The strategic moves of major industry vendorsnot just their direct competitorscan have a major impact on their competitive position.     

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Topics: Vendor management, Product Roadmap

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