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Best of 2019

Posted by Strategically Speaking

Wed, Jan 08, 2020 @ 11:39 AM

The beginning of a new year – especially a new decade – is a time of reflection. Looking back, 2019 was a tremendous year filled with insightful blog posts written by some of the industry’s finest thought leaders. We look forward to what new topics 2020 will bring – and in the meantime, would like to take a look at some of the top posts from 2019.

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Topics: Payments, Cybersecurity, Digital, Modern Membership

Professional Guides on the Path to Digital Change

Posted by B.J. Hall

Fri, Dec 20, 2019 @ 08:30 AM

Commercial lending is no longer immune to the digital transformation that has forever changed the world of banking. Now business borrowers, like consumer borrowers before them, are demanding faster access to capital and a better customer experience. Yet many commercial lending teams still have no technology in place to satisfy those demands. Why?

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Topics: Commercial Lending, Future Ready

Four Emerging Trends Driving Financial Technology Through 2020

Posted by Susan Griffin

Fri, Dec 13, 2019 @ 08:30 AM

The world of financial technologies has been experiencing dynamic changes in recent years. As we prepare to enter 2020, it is important to look at how the past 10 years have shaped our industry and highlight emerging trends that are likely to dominate the software development landscape in the next 12 months. Here are the top four trends that are likely to impact future software development in the year ahead.

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Topics: Commercial Lending, Future Ready, Financial Technology

Digital Payments Deliver in Money Moments of Need

Posted by Jennifer Geis

Wed, Dec 11, 2019 @ 11:05 AM

Most everyone would agree that technology has vastly changed the way we live our daily lives. With more than 203 million daily active users, Snapchat has taken over the way we communicate.1 When meeting someone new, the majority of Millennials and Gen Zers ask for a person’s Snapchat rather than a phone number. Gen Z uses TikTok – which was the most downloaded app worldwide for the month of September (2019) – to view the latest music, fashion trends, and how-to videos.2 Amazon has changed our shopping habits, with 92% of Americans reporting to have brought something on Amazon.3 And now, one in two adults with a U.S. bank account has access to P2P payments via Zelle right in their mobile banking app.4

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Topics: Financial Institution, Digital and Community Banking, Payments

U.S. Core Providers Supporting the Credit Union Movement

Posted by Nicole Harper

Fri, Dec 06, 2019 @ 11:07 AM

A look at the core players

More than 600 credit unions have changed core processors in the past five years. The pace of change and transformation happening in the financial services space makes selecting a technology partner more important than ever.

Each year, Callahan develops a valuable resource guide to help credit unions explore their core processing options.  Callahan strives to make this publication the go-to resource for credit union leaders seeking valuable analysis and actionable insights in a rapidly changing world. The 2020 Supplier Market Share Guide: Credit Union Core Processors provides a look at U.S. core providers supporting the credit union movement. Collectively, these core providers have helped America’s credit unions achieve strong performance.

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Topics: Credit Unions, FI Operations, Future Ready, Modern Membership

Comparing Clouds: Is A Private Cloud Environment a Better Choice than Public for Hosting Your Infrastructure?

Posted by Sebastian Fazzino

Wed, Dec 04, 2019 @ 09:56 AM

Cyber threats are becoming increasingly sophisticated, complex and pervasive, leaving financial institution (FI) and consumer data more vulnerable than ever before. As risk proliferates, it is no longer a question of if an attack will happen, but rather when fraudsters will strike. FIs, as a result, are challenged to keep up with evolving cybersecurity initiatives, IT regulatory compliance demands, and critical disaster preparedness issues – all while staying within budget and focusing on other significant priorities, such as lending and deposit growth.

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Topics: Financial Institution, Cybersecurity, Risk/Fraud

Credit Scoring for Small Businesses: A love-hate relationship

Posted by Nathan Streeter

Wed, Nov 27, 2019 @ 10:02 AM

I have a love-hate relationship with credit scoring for small business clients. Having started my career in banking, where we moved from traditional underwriting to credit scoring, I have seen both the good and bad of scoring models. Over the past 20 years there have been numerous shifts in how financial institutions attract and attain small businesses. One of the primary transformations is due to credit scoring.

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Topics: Commercial Lending, Small Business, Financial Institution

A Four-Pronged Strategy for Growing Core Deposits

Posted by Patrick True

Fri, Nov 22, 2019 @ 08:30 AM

As 2020 draws near, community-centered financial institutions are facing increased challenges when attempting to grow core deposits. In the most-recent CSBS Survey of Community Banks, released in October, core deposit growth ranked higher than any other challenge faced.

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Topics: Commercial Lending, Financial Institution, Digital and Community Banking

Digital Bill Pay: The Next Big Tech Transformation

Posted by Jennifer Geis

Wed, Nov 20, 2019 @ 10:08 AM

Let’s face it, if someone asked us the top three things we hate to do, paying our bills would probably rank somewhere between going to the dentist and cleaning the toilet as far as our level of despise goes. Electronic bill pay has been around since the late 1990s and gained traction in the early 2000s as internet access became a household commodity. Since then, not much has changed with bill pay functionality to improve the experience or even make it more palatable. There have been two main ways to pay online, through your financial institution’s website or through your biller’s website. At first, financial institutions had a hold on the market with a consolidated – or one-stop stop ­– approach to paying bills. However, as consumers gained comfort with the internet, visiting multiple sites for multiple purposes, the demand for more robust feature/functionality surfaced. With features like instant payment confirmation, multiple payment options, and a better user experience, users’ preferences along with their trust and loyalty shifted away from the financial institution towards the biller. Currently, only 27% of consumers make their online bill payments through their financial institution.[1]

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Topics: Financial Institution, Digital and Community Banking, Payments

The Seven Deadly Sins of Credit Management

Posted by Patrick True

Fri, Nov 15, 2019 @ 08:30 AM

Most of us have heard of the seven deadly sins, but did you know there are also seven potentially damaging actions or inactions that can lead to credit loss? Lenders of all types should consider this list throughout every stage of the loan cycle and for all types of credit. These sins can show up at any time. While in some cases they are the primary cause of a credit loss, they are more likely what causes a loss to be greater than it otherwise would have been had the situation been handled differently. As you begin the new year, consider an open discussion with your consumer and commercial lending staff to ensure no one commits the seven deadly sins of credit management.

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Topics: Commercial Lending, Risk/Fraud

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