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BID Newsletters
Dec 27, 2023
As we visit this year’s most popular BIDs, we look at this article from Feb 8 on faster payments: The FedNow® Service works between financial institutions, in contrast to consumer-centric payment apps. We take a deep dive into the details.
Jun 29, 2023
The financial industry has been preparing to transition from LIBOR rates to SOFR rates for over two years. Now that the LIBOR cessation date is here, CFIs may still have questions. We discuss what the SOFR rate options are, how the LIBOR Act could impact your remaining LIBOR-based loans, and where to find helpful resources.
Jun 26, 2023
CFIs have a treasure trove of customer data, including payment data. By analyzing such information, you can more effectively offer personalized marketing messages that customers have come to expect. We explore how you can better leverage your customers’ payment data.
Jun 5, 2023
Owning fractional stock in a company — less than one whole share — is becoming more popular, particularly among younger people who are just starting their careers. CFIs can now offer their customers fractional stocks of a merchant company participating in their debit card reward program. We detail how and the benefits of doing so.
Apr 7, 2023
We could be heading into a recession, or we could be dodging a bullet. No matter the outcome, CFIs should find ways to protect their bottom line during this time of economic uncertainty. We detail some creative ways to make the most of your budget.
Feb 8, 2023
By 2H 2023, the Federal Reserve is expected to debut its instant payment service FedNow. The service is intended to work between financial institutions, in contrast to consumer-centric payment apps. We take a deep dive into the details.
Sep 9, 2022
Pandemic shutdowns accelerated the adoption of self-service technologies. Now, more and more customers at CFIs expect such services in both digital channels and inside branches. We explore some of the most popular DIY technologies.
Jul 22, 2022
CFIs' relationships with their core providers tend to last for decades, if only because a change is such a hassle. If you do need to make a core conversion, however, here’s how to do it with the least possible pain.
Feb 28, 2024
The decision to convert to a new core banking system is a monumental one. There are many reasons to make the leap so that your institution can continue to grow, though a “rip and replace” may not always be the right option. Determining whether an upgrade to your existing system could save you money, and may buy you time for even more evolved systems to come to market.
Jun 28, 2023
You know that your CFI would benefit from updating its technology, but replacing core technology is an expensive proposition. Middleware is a type of software that can bridge the gap between old and new technology, letting you run newer applications without replacing older legacy systems.