Power in the Process: Move at the Speed of Now Enhance the Borrower Experience!
In the digital age, where convenience and speed are vital, financial institutions must adapt to meet the evolving needs of their borrowers. Real-time account visibility, instant payment postings, and up-to-the-minute loan and account balances are no longer just desirable features – they are essential to modern banking. By implementing these features, financial institutions can enhance […]
4 Helpful Benefits of Real-Time Payment Data Posting – Revolutionizing Financial Operations
The demand for real-time solutions has never been greater in the dynamic realm of financial transactions. With real-time payments coming to the forefront as the future of financial transactions, real-time payment data posting offers an alternative for financial institutions to have the benefit of instant data visibility. In this article, we will lay out real-time […]
Adhering to Nacha’s Fraud Risk Management and 5 Monitoring Rules
As of March 18, 2022, Nacha’s account validation rule requires ACH originators of WEB entries to use a commercially reasonable fraud detection system to verify the first time a consumer checking account is used for an electronic (ACH) payment
2022 Product Outlook for Financial Institutions: Payments
What’s on the horizon for credit unions, lenders, and other financial institutions in 2022? Our experts weigh in with a product outlook for payments in the coming year.
Keeping Pace with Digital Demand for Self-Service Payments Options After COVID-19
Did you know that the pandemic accelerated the adoption of digital banking products and/or services by six years? One of the most significant adjustments financial institutions are facing today is learning to keep pace with soaring demand for digital self-service payments options. It’s hard to believe that we’re approaching the end of 2021. It’s been nearly two […]
Delight Your Account Holders with these 3 Tips!
There is a somewhat dated adage in business that it costs five times more to acquire a new customer than it does to retain an existing one. However, in focusing on this data point, many financial institutions lose sight of something even more important—connecting with and retaining account holders, creating positive experiences with your brand, […]
Delivering Seamless and Secure Digital Payments Options
When the COVID-19 pandemic hit in March 2020, millions of Americans had to adjust to statewide shutdowns that lasted for months. During that time, we adapted to living entirely different lives, and digital technology provided many of the solutions that made that possible. When restaurants shut down, we started ordering food to go on mobile […]
How RegTech is Improving Efficiency in the Financial ServicesIndustry
Regulatory technology, or RegTech, was developed in the wake of the FinTech revolution and has been continuously expanding since the financial crisis of 2008. Experts predict it will rapidly advance the regulatory landscape by offering technological compliance solutions for the highly regulated financial services industry. According to Investopedia, “Regtech is the management of regulatory processes within […]
Digital Payments Solutions to Delight Your Indirect Borrowers
Introduction Indirect lending is a large part of many financial institutions’ auto lending strategies. In fact, in 2020, credit unions held $378.2 billion in auto loan balances, or roughly 31.5% of all auto loans in America. Of that, 84.4%, or $319.4 billion, was funded through indirect channels. If indirect borrowers make up such a large percentage of your institution’s auto lending portfolio, and […]
Preventing Online Account Origination Fraud
As consumer demand for more online banking services grows, fraudsters are finding more and more ways to exploit these services. While not a new scheme, online account origination fraud has grown in part because of the prevalence and ease of use of online banking services, and in part because of the number and scope of […]
