Debbie Buckland

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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It's a difficult thing in the digital world for banks to attract young consumers — and garner the loyalty of kids while they're young. U.S. Bank has found a promising solution through a partnership with fintech Greenlight. By integrating Greenlight's accounts and services into its own mobile banking app, U.S. Bank aims to attract the next generation of customers while providing valuable financial education and practical money management experience for kids The partnership addresses a critical gap in traditional banking offerings: the lack of transaction accounts for children. With Greenlight's debit card and money app, kids as young as 10 can learn to handle money and transact cashlessly, all while being subject to parental oversight. Parents can set spending limits, monitor transactions, and establish savings goals for their children, fostering financial responsibility from an early age. U.S. Bank sees two key benefits in this partnership. First, it differentiates the bank's "Bank Smartly" accounts, potentially attracting and retaining depositors who value financial education for their children. Second, by engaging with kids through Greenlight, the bank hopes to establish itself as the go-to institution when these young customers are ready for their first checking account. Greenlight's Brandon Horne, general manager of partnerships, emphasizes that the company's bank and credit union partnerships are an additional channel for growth, not a strategic shift. By embedding the parental experience in the bank's app, Greenlight gives financial institutions more ownership in the customer experience and facilitates a smooth transition as kids approach adulthood. Learn more in the full article by Steve Cocheo:

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Curious about the impact of #ISO20022 on fintech? NYPAY has a great panel this Thursday on the topic- it's free register below. ISO 20022 is poised to be a game-changer for the fintech industry, bringing about several positive impacts: 1. Enhanced Interoperability: Imagine financial institutions speaking a universal language. ISO 20022 acts as that common ground, allowing seamless data exchange between different systems. This translates to faster transactions, fewer errors, and a more streamlined experience for everyone. 2. Richer Data for Innovation: ISO 20022 goes beyond basic transaction details. It allows for including richer, more structured data. This empowers fintech companies to develop innovative financial products and services with a deeper understanding of user needs. 3. Streamlined Operations and Efficiency: With standardized data formats, automation becomes easier. This translates to fewer manual processes, reduced errors, and overall cost savings for fintech companies. Regulatory compliance can also be simplified with ISO 20022's structured approach. 4. Openness to New Technologies: The beauty of ISO 20022 is its adaptability. It can accommodate new technologies and business models as they emerge, ensuring fintech companies stay ahead of the curve. 5. Level Playing Field for Fintechs: Legacy financial institutions often have complex internal systems. ISO 20022 creates a more level playing field by providing a common standard that fintech startups can easily adopt. This fosters a more competitive and innovative financial landscape. Overall, ISO 20022 is expected to be a major driver of growth and progress in the fintech industry. By enabling smoother data exchange, richer information, and streamlined operations, it paves the way for a future filled with exciting financial products and services.

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US Open Banking rules are finally (almost?) here. The Consumer Financial Protection Bureau's ready to make good on its promise - announced just over ten months ago - to lock in data protection, provide greater control of information, and open up true banking relationship portability for customers of financial institution and non-bank providers through its resurrection of a 'dormant' provision of the 2010 Dodd-Frank legislation. Many banking executives and consumer and financial inclusion advocates are welcoming the proposed changes. Yet some are getting very nervous about all the work required to get their systems ready, and - if present CFPB plans persist - across a surprisingly short preparation and compliance timeframe. As one expert says, it's going to be an "interesting" fall for the financial services industry! We explore the hopes and worries and dive into the details of the new 1033 rule in Finextra. #openbanking #consumerrights #1033 https://lnkd.in/gAdEbXrU

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ICYMI, there is new open banking regulation expected this fall, and we don’t want you to get left behind. pst - banks, fintechs, finserv providers, we’re talking to you. To keep you up to date, we're releasing a limited series featuring legal, policy, and product experts from around the industry, sharing what you need to know about open banking regulation this fall. In our first full episode below, find topics like where this regulation originated, how institutions should prepare for the challenges of compliance, and the opportunities of open banking. Like what you see?  📰 Subscribe to Plaid’s new newsletter to catch all the new updates on this upcoming regulation: https://lnkd.in/e6QY8nCz 🎥 Find the full series dropping on our YouTube: https://lnkd.in/esN94wgf 🤝 See how Plaid can partner to help stay in compliance: https://lnkd.in/ep5RrusV 📌DISCLAIMER: The final rule has not yet been released. Plaid is continuing to invest in and update our open finance solution with the evolving regulatory landscape in mind.

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First-party fraud is a growing challenge in the world of payments, often misunderstood but highly impactful. Unlike third-party fraud, first-party fraud occurs when a legitimate cardholder makes a purchase but later disputes the charge with the intention of avoiding payment. This deceptive practice strains financial institutions, merchants, and even consumers through higher fees and tightened security measures. Key Market Insights: - 75 percent: Estimated percentage of card-not-present fraud claims that are the result of first-party fraud. - 28 billion USD: Anticipated losses due to first-party fraud on card-not-present transactions. - 337 million: Estimated global chargeback transaction volume by 2026. Source: Ethoca’s Chargeback Trends and Outlook, 2023. Mastercard’s Ethoca program, which includes the First-Party Trust initiative, is a powerful initiative aimed at tackling this issue. Ethoca fosters collaboration between issuers and merchants, providing real-time data that can help prevent fraudulent chargebacks before they escalate. By sharing insights and enhancing transparency, the program empowers businesses to mitigate fraud and improve customer relationships. Understanding the nuances of first-party fraud and leveraging solutions like Ethoca can make a significant difference in protecting revenue and maintaining trust in payment ecosystems. What are your thoughts on addressing first-party fraud? Are programs like Ethoca part of your current fraud prevention strategy? #acquiring #rapyd #ISO #PayFac

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🚀 Join me next week at FinTech South in Atlanta! 🚀 I’m thrilled to be moderating a dynamic panel at Fintech South next week, titled "Instant Payments: Unlocking the Power of Faster Transactions." Join us at the Atlanta Symphony Hall stage on Tuesday, August 27, from 4:00 pm - 4:35 pm for a fast-paced, insightful session that you won’t want to miss! Our discussion will focus on how fintechs and banks are transforming the payments landscape, especially here in Georgia's "Transaction Alley," where over 70% of US transactions are processed daily. I’m honored to be joined by a powerhouse panel of experts:ts Bernadette Ksepka from Federal Reserve Bank of Boston, Sherif Samy from Fime, and Margaret M Weichert from The Clearing House. We’ll explore key topics like: * The evolving landscape of instant payments and global insights. * How FedNow is shaping the future of payments in the US. * The challenges and opportunities in achieving interoperability among payment systems. * Innovative use cases and the critical role fintechs play in enhancing real-time payments. This is a unique chance to delve into the opportunities for fintechs, particularly as TPSP providers and innovators. I look forward to a lively discussion and encourage you to come ready with your questions! Let's unlock the future of payments together! 💡 https://lnkd.in/dUjgfvz #FinTechSouth #InstantPayments #FinTechInnovation #Collaboration #ATLFinTech #TheFutureIsNow #InstantPaymentsMaven

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Many SMBs are finding their digital banking needs unmet and are turning to fintechs, leaving an opportunity for community-based banks and credit unions. What are SMBs looking for and how can your institution help? Find out in this new eBook >> https://bit.ly/3SHu70u #banks #creditunions #digitalbanking #onlinebanking #mobilebanking #businessbanking #commercialbanking #SMB

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🔥Hot Take: Banking as a Service (BaaS) Compliance is Going to be Big 🔥 I don't normally make bold predictions when it comes to AML and Compliance trends but this is one that I'm "banking" on (see what I did there 😂😇) BaaS incorporates Banking partners and traditional financial institutions, Fintechs like payment providers and also middleware companies I'm still reading up on exactly how Middleware companies work but Amber D. educated me and others about a recent Synapse bankruptcy case which puts bank-fintech partnerships in the spotlight especially when $85 Million of customer funds vanished 👻 This is a great opportunity for Compliance professionals to find a niche, especially if they have a traditional finance and fintech background. Even crypto compliance professionals should be keeping their eyes open on the opportunities that will be emerging in this space Michelle Beyo new Future of Finance training has a whole section on BaaS and lays out both the opportunities and the challenges Dana Lawrence (pictured below) came by the Around The Coin podcast to share her thoughts on BaaS and broke down the entire ecosystem with real life scenarios. My friends at FINTRAIL and ACAMS have the CAFCA course, which I still think is one of the most comprehensive fintech courses for compliance professionals out there. 👀 If you look out for Jobs on LinkedIn you are started to see (BaaS) sprinkled into more Compliance positions and that is only going to grow. What Do You Think 💭⬇️

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#PaymentsSimplified The basic diagram can provide some methodology to build out from. SmartCard Marketing Systems Inc (OTC:SMKG) #PaaS #EmbeddedPaytech & #EmbeddedFinance with #DigitalPayments

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Having transparency and clear rules to define and adopt an open banking standard in the US is beneficial. Open banking relies on an open, common, and shared standard to ensure interoperability within the financial ecosystem. This is crucial for adoption and reducing integration costs. Therefore, such a standard is necessary. Today, the Financial Data Exchange (FDX), a non-profit organization in the US, has worked tirelessly with the financial community to establish these standards and publish their FDX APIs. There are already over 76 million FDX-ready accounts in North America, making it the de facto standard. Hopefully, the Consumer Financial Protection Bureau's published rules today will make it easier to recognize FDX as such. #openbanking #openfinance OpenFinity

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Upgrade Your Legacy Core Banking System with BaaSFlow! At BaaSFlow, we understand the challenges that Depository Institutions face when it comes to modernizing legacy core banking systems. According to a recent article by the Kansas City Fed, there are three primary scenarios for modernization: Incremental Upgrades, Replacing the Core, and Adopting a New Digital Core. Incremental Upgrades: For institutions looking to enhance their existing systems gradually, BaaSFlow offers modular solutions that seamlessly integrate with your current infrastructure. Our technology ensures minimal disruption while significantly improving performance and capabilities. Replacing the Core: If a complete overhaul is necessary, BaaSFlow's state-of-the-art core banking platform provides a robust, scalable, and future-proof solution. We streamline the transition process, ensuring a smooth and efficient switch with minimal downtime. Adopting a New Digital Core: For those ready to embrace a fully digital banking environment, BaaSFlow's cloud-native, open-source technology is the perfect fit. Our platform supports advanced digital services, enhancing customer experiences and operational efficiency. Why BaaSFlow? 1) API Driven, Cloud Native; 2) Cost-Effective Solutions: We offer competitive pricing without compromising on quality; and 3) Tailored Approach: We work closely with you to understand your specific needs and deliver customized solutions. Upgrade your core banking system with confidence and ease. Choose BaaSFlow for a seamless, cost-effective, and future-ready solution. https://lnkd.in/eQ8yH6xX #CoreBanking #BankingTechnology #DigitalTransformation #BaaSFlow #FinancialInnovation

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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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