The FedNow Service is poised to change how Americans move billions of dollars through the banking system. There’s no reason for your institution or its account holders to miss out on this opportunity. [Continue]
Managing multiple payments platforms can come with some serious pitfalls. [Continue]
At the heart of community banking are your customers. It’s likely that every decision made about the products and services offered centers around a positive customer experience — while at the same time attracting the next generation of clientele. [Continue]
Most people want an opportunity to change their mind, to take it back. Sometimes “real time” is simply too sudden, particularly when we have little or no experience with the vendor. [Continue]
Digital transactions upended how payments were processed several years ago with next-business-day settlement. Now that instant payments have arrived, the transformation of how companies and consumers move money is changing how fraud and risk are assessed. [Continue]
While the industry continues to buzz with differing opinions surrounding FedNow, a universal truth is that it should be approached carefully and strategically. [Continue]
We’re asked to upload images with our phones all the time. Insurance cards, driver’s licenses, checks. And we’ve all experienced the less-than-stellar experience of struggling to get our item exactly in the frame or a multi-step process of needing to crop and rotate so that the image is accepted. [Continue]
Having access to funds in real-time is more important than ever. Community bankers recognize this, and many are actively planning their faster payment strategies to keep up with customer expectations. [Continue]
Are bankers prepared for rising interest rates causing an accelerated fluidity of funds flow? Bankers who buy in to open banking will find that it could be antithetical to their objectives to hold the line on cost of funds as interest rates rise. [Continue]
In March, the White House directed several federal agencies to research the pros and cons of a digital dollar. This raises a host of questions for banks, particularly when it comes to deposits and loans, which, you know, are kind of a big deal. For the general public, I have to think the topic is just generally confusing. Digital payments have been with us for a long time, after all. The type of digital dollar being discussed by the Feds would look a lot to the consumer like the digital money banks move around right now. But the back end of how the money is exchanged would change. [Continue]