Results include
Feb 27, 2023
By offering wealth management services, CFIs find they can provide a one-stop shop to handle more of their customers’ financial needs, ultimately building loyalty. Institutions can develop their offering by building their own teams or through partnerships/outsourcing. We give you some examples of organizations that have succeeded with these different models.
Nov 28, 2023
When one thinks of open banking and third-party APIs, one tends to think of all the benefits for consumers. But CFIs could also leverage the technologies to better serve their small- and medium-sized business customers. We explore the possibilities of open banking, including what the financial sector in Europe has achieved so far.
Oct 26, 2023
Autorenewals and hidden language within contracts aren’t just a headache for consumers — they exist within the third-party relationships that CFIs have as well. Taking the time to review outdated contracts and redundancies within all aspects of your organization can lead to significant savings and a better overall service experience for your customers.
Sep 12, 2023
CFIs and other banking operations could profit immensely from creating embedded finance partnerships, where CFIs offer their digital banking services to be integrated into experiences for a third party’s customers. We review the growth potential for embedded finance partnerships and how to get started.
Jul 27, 2023
CFIs can strengthen their relationships with business customers by partnering with a third-party merchant service provider that includes text-to-pay capabilities within its payment processing platform. By enlisting vendors that offer standalone solutions, CFIs can also offer text-to-pay to their retail customers who want to make loan payments via text. We delve further.
Nov 30, 2022
Embedded banking allows CFIs to provide financial products and services through non-bank, third-party partners such as retailers and service providers. In this second part of our embedded banking series, we explore ideas of how CFIs might partner with non-bank organizations to offer embedded banking services. We also address some of the legal, compliance and technology challenges associated with launching embedded banking.
Apr 1, 2024
Partnering with fintechs is a good way for CFIs to quickly enhance their online services and offerings. But such partnerships can also create unintended risks for CFIs, a reality that has spurred regulators to step up oversight in this area.
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.
Feb 21, 2024
The OCC recently published its autumn statement on key risks facing the federal banking system. We summarize these risks and suggest ways CFIs can mitigate them to improve their institution’s resilience.
Feb 6, 2024
Employees using unapproved, public generative AI poses a major security risk for your business. We review what shadow AI is, how it leaves your business vulnerable, and what you and your employees can do to minimize the risk.
Jan 23, 2024
A new study from Capgemini shows that business customers are increasingly in need of help with cash management. We discuss the biggest cash flow challenges for businesses and what solutions CFIs can offer those customers.
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.
Dec 6, 2023
In this second part of our review of 2023, we look at the challenges brought about by the evolving fintech landscape, the ever-increasing cybersecurity threats, and mounting regulatory complexity. We explore how CFIs have responded to these situations.
Dec 4, 2023
Over the last few years, several large and regional banks have started offering small-dollar loans to their cash-strapped customers. Is a payday loan alternative something your CFI might consider?
Oct 30, 2023
Checking accounts are long beyond their heyday, but that doesn’t mean that they don’t still hold value for CFIs. We review the decline of the physical check and the staying power of checking accounts — and how to keep them relevant to small and medium-sized business customers.
Oct 5, 2023
Your institution’s social media channels aren’t just for marketing purposes: more customers are using them to ask questions and seek help regarding account issues. We discuss the best ways to handle customer service and support via social media.
Sep 20, 2023
The FDIC recently published its 2023 Risk Review. In the first article of this two-part series, we summarize the report highlights related to the economic, financial markets, and banking industry conditions over the past year. We also discuss key market, operational, and climate-related financial risks and their potential impact on CFIs.
Aug 24, 2023
It’s not enough to have a robust program to comply with the Bank Secrecy Act and anti-money laundering regulations — CFIs are required by regulation to also routinely audit whether their programs are truly adequate enough to thwart nefarious acts like drug trafficking and terrorism. We share details of an appropriate auditing process.
Jul 12, 2023
As banking as a service (BaaS) grows in popularity, so does the need for regulatory requirements. We discuss the upcoming trends and concerns with BaaS and how CFIs might prepare for instituting BaaS.
Jul 5, 2023
Digital-only spinoffs are becoming an increasingly popular way for CFIs to test new products and technologies, expand their reach, and target new demographics. We review the pros and cons of digital-only offshoots, and look at examples of CFIs currently experimenting with this new model.