Curtis Bauer

Our latest Small Business Banker Scorecard reported improved digital payment and transfer services for small businesses. 73% of Scorecard banks offer ACH payments to small businesses and 55% provide a consolidated view of transactions for tracking payments and cash flow. https://loom.ly/znL5xgs #smallbusiness #banking #payments

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Great slide from Brett King’s “CU 5.0 blueprint for tomorrow’s credit unions” session at the TruStage Discovery2024 Conference. We agree that digital delivers better member service and drives growth for credit unions. It’s what we’re delivering for leading credit unions with FIQ Journey. This easy to implement, white-label platform brings hybrid digital advice and self-directed investing together in a single investor experience, providing members with the digital engagement they want and credit unions with the proven, scalable technology they need for profitable organic growth. Whether your goal is democratization of the investing process to attract new members or a small accounts solution for member retention to stop ACH outflows, our team can work with your credit union to integrate FIQ Journey into your existing systems, infrastructure, and member care teams, minimizing disruptions and the need for expensive modifications. You can learn more about FIQ Journey here: https://lnkd.in/g62NVJnh #creditunions #digitaltransformation #discovery2024 #banking #fintech

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NACHA’s new rules are transforming fraud detection for community banks, credit unions, and smaller financial institutions! Here’s what’s changed: - Return Reason Codes: RDFIs can now return suspicious payments with Return Code R17. - Enhanced Monitoring: Mandatory ACH credit monitoring begins with large institutions, expanding to all RDFIs by mid-2026. - Increased RDFI Accountability: RDFIs are now responsible for identifying and returning funds linked to mule accounts. These changes require immediate action for compliance and effective fraud prevention. Learn how NICE Actimize’s Xceed can help your institution adapt with AI-powered solutions for real-time monitoring and seamless case management. Read the full blog for insights: https://bit.ly/3UN2G6r #FraudPrevention #NACHA #NICEActimize #Compliance

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The latest data from NCUA paints a challenging picture for credit unions, but staying informed is the first step toward tackling these issues head-on. Check out our News & Resources page for an in-depth look at the trends and what’s next for the industry. #CreditUnionData #FinancialServices #TyfoneInsights

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🔔 It's official 🔔 The CFPB has released the final 1033 rule 📖. That means it's time to start embracing a new era of open banking. Discover our updated readiness guide, and how Plaid solutions can help with 1033 implementation: https://pla.id/1033-guide

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Talk to us about your ACH requirements here: https://bit.ly/3WBTp2c What is an ACH payment rail? ACH stands for Automated Clearing House and is managed by National Automated Clearinghouse Association. It seamlessly transfers funds between bank accounts via the ACH network, powering and simplifying daily financial transactions for businesses. It was a system designed and released more than 50 years ago in 1972. Back then it was revolutionary. While it has delays associated with it, it has stood the test of time and remains the most widely used system for payments in the US, with volumes in the year 2023 exceeding 30 billion transactions for more than 80 trillion dollars. The ACH network supports two primary transaction types: ACH credit, where money is pushed into the recipient's account (example: employer deposits), and ACH debit, where funds are pulled from the payer's account (example: direct payments).

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PayShap isn’t a standalone app. It’s accessed through your bank channels. This means that all of your bank’s safety features also apply to PayShap. ​ ​ Learn more: bit.ly/46kBkZw ​ ​ #PayShap #InstantPayments #NowThatsShap #ShapID

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There are ~1.6 billion transaction accounts in the USA, including credit cards, debit cards, checking accounts, Buy Now Pay Later (#BNPL), Health Savings Accounts (#HSA), etc. There are ~1.7 billion mobile wallet users across platforms like PayPal, Venmo, Apple Pay, Google Wallet, Samsung Pay, and Square's Cash App. At least 5.125–10.25 billion payment credentials are stored across the economy—both knowingly (registered & retained for payment) and unknowingly (captured & processed through negative & positive files)—by retailers, recurring billers, subscription services, government agencies, credit/debit bureaus, networks, and other payment processors. Crone Consulting LLC independent estimates, no public disclosure by the companies mentioned. The Consumer Reports Financial Protection Bureau’s #CFPB recent move to regulate Google raises the question: Why start with Google? If applied broadly, the ruling should include any entity processing more than 50 million transactions annually while retaining card credentials. This includes government agencies like the Social Security Administration #SSA and the Internal Revenue Service #IRS. Consider these annual transaction volumes: Apple Pay: 60 billion PayPal/Venmo: 31 billion Google Wallet: 16 billion Amazon: 8 billion Medicare: 2 billion Social Security: 1.12 billion IRS: 550 million While the CFPB claims to protect consumers, private entities like Apple Pay, PayPal, and Google Wallet consistently outperform government services in customer satisfaction, as reflected in their Net Promoter Scores (#NPS): PayPal: 65 Apple Pay: 61 Google Wallet: 44 Amazon: 49 Medicare: 19 Social Security: ~10 (Estimated) IRS: ~5 (Estimated) Why doesn’t the CFPB start with the worst offenders, namely their own governmental brethren? Private entities lead in user satisfaction, while agencies like the SSA and IRS lag far behind—emphasizing the urgent need for oversight and modernization to fulfill their “protection” mandate. Please 📤 Comment 🗨️, react 👍, and 🔁 reshare Steve Cocheo’s article in The Financial Brand (no paywall). 👇 #innovation #technology #ecommerce #bankingindustry #shoppingandtheretailindustry #marketing #selfservice #retailers #mobiletechnology #mobilepayment #fintech #digitaltransformation #bank #banks #banking #digitalstrategy #payments #digitalinnovation #socialcommerce #artificialintelligence #ai

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Many banks and credit unions use Alchemer Digital to collect and respond to in-app and web customer feedback. This helps them drive data-driven product decisions and increase member retention. Learn how Advantis Credit Union uses Alchemer Digital to increase ROI and improve customer satisfaction, loyalty, and retention. https://lnkd.in/gitbeBgE

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In a recent webinar, we demystified the process of using the right #automation tool at the right time—dubbed the automation order of operations. Georgia United Credit Union's application of step three—deploying #RPA—has saved them $14,000 and hundreds of staff hours per year on just one task. Find out how they did it and how to find the right-fit automation solutions for your organization here: https://bit.ly/4fuRnbc

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About a year after the FedNow service launched, financial institutions are focusing on delivering customer value through overlay services like Request for Payments (RfP) built on instant payment systems. This tool remains underutilized by many banks, with only 39% fully recognizing its high demand, resulting in missed opportunities. Meanwhile, fintechs are ahead of the game, offering streamlined invoicing and QR-based bill payments to attract business clients. It’s time for banks to catch up and harness the potential of RfP. Find out how in our latest blog. Why Banks Can't Afford to Ignore Request for Payment - Finzly https://hubs.la/Q02DSqzt0

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To all #CDFI #CreditUnions Worried About Losing Certification: The CDFI Fund's revised CDFI Certification Application WILL NOT result in the loss of your certification, if you contact us now. CU Strategic Planning was at the forefront of advocacy to ensure the revision had the flexibility for credit unions to maintain CDFI Certification. Since then, CU Strategic Planning has been actively working with over 100 credit unions to ensure their recertification success. This includes creating advisory boards, community development mission statements, providing product design insights and defensible justification of product attributes. Most powerfully, with the depth of that expert consulting (not available through a technology company alone), we took a giant leap forward by merging two leading organizations to create a profound alliance with Callahan & Associates, Inc. the national leader in data analytics for credit unions. CU Strategic Planning is now a Callahan & Associates company leveraging the power of the most trusted data system in the movement. As THE credit union CDFI certification experts, we are and have been for the last 16 years working to ensure every credit union serving people of modest means can attain and retain its CDFI Certification. If you believe you are in jeopardy of losing your certification, come to the experts. No one has certified more credit unions as CDFIs than CU Strategic Planning. Learn more: https://lnkd.in/gbvdeYpe Schedule a call: https://lnkd.in/gr_FemEV

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How to Send Mass ACH Payments 💰 Paying a list of recipients is easier than you think. Send multiple ACH payments that deliver either same day, or in standard ACH times with GiveCard. (P.S. Looking to deliver payments faster than ACH? GiveCard does instant payments too!) To learn more, get in touch with us here: https://lnkd.in/g47P_vTg #ACH #masspayments

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Thinking of trying something new at your branch? Whether it's a fresh layout, innovative technology, or enhanced services, a branch prototype lets you test things out before committing to a full rollout. Check out our latest blog to learn how to get started. #BranchPrototype #Banking #CreditUnion #FinancialInstitution #BranchDesign #Innovation

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Ever wondered how your money effortlessly moves between bank accounts? It's all thanks to ACH Routing Numbers! Discover how ACH Routing Numbers simplify your banking experience, making transfers a walk in the park. Here's what you need to know. ▪️ Name of the institution that receives the payment ▪️ Account number of the recipient ▪️ ABA rounding number ▪️ Type of the bank account  ▪️ Total transaction amount Say goodbye to confusion and hello to convenience! Check out our blog now and master the art of seamless banking. #MoonInvoice #invoicesoftware #achrouting #smallbusinesses #SeamlessBanking #estimates #ReceiptMaker #moneytransfer

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