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SRM Perspectives on Key Industry Trends

Setting the Course for a Fintech Blueprint

Posted by Prakash Natarajan & Jeff Ostheimer on Aug 24, 2023 11:17:00 AM

Fintech-Blueprint-Blog-Image

SRM’s recent report makes the case that banks and credit unions of all sizes need to develop a fintech blueprint – an actionable, comprehensive strategy to address industry evolution. In a previous blog, we outlined some recent innovations – open banking, real-time payments, and embedded finance – that should serve as a call to action.  

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Topics: Fintech, Vendor Negotiation, Strategy, Customer Journey, Customer Service

Key Considerations for Real-Time Payments

Posted by Paul Davis on Jun 1, 2023 11:12:00 AM

Key Considerations for Real-Time Payments

Real-time payments (aka RTP) have become an increasingly hot topic for bankers as the launch of FedNow, a new instant payment infrastructure established by the Federal Reserve, nears. It will enable financial institutions of every size across the U.S. to provide safe and efficient instant payment services. The service moves from the pilot stage to a full launch in July 2023 and will be rolled out in several phases of functionality.

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Topics: Vendor Negotiation, Mortgages, FedNow, Real-time payments, RTP, The Clearing House

8 Rules of Engagement for Vendor Negotiation Strategy

Posted by Patrick Goodwin, President on Feb 5, 2020 9:00:00 AM

8 Rules of Engagement for Effective Vendor Negotiation Strategy

Disruptive tech providers, new banking regulations, obscure deadlines and thresholds – these are challenges we face with clients every day. What many others still fail to see though, is that in an age of accelerating change, having a clear vendor negotiation strategy - and executing it well - is becoming more critical to bank and credit union executives than ever before.

To help spare others from costly lessons learned, here is a list of our best and most often given advice for preparing for a negotiation - or renegotiation. With our experts’ combined experience in the field, and $3.6 billion proof points behind us, these are SRM’s eight rules of engagement for effective vendor management.

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Topics: Vendor Contract Management, Vendor Negotiation, Vendor Negotiation Strategy

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