Jana Miller Schmidt

The ACH system facilitates a large and growing range of transactions, including payroll, bill payments, and B2B payments. In 2022, U.S. account holders transacted 30 billion ACH payments worth over $76 trillion. View an overview of ACH fraud and best practices for fraud detection and prevention. https://lnkd.in/gypx7tuW #fraud #fraudprevention #riskmanagement

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🚀 Is your community bank ready for the future? As technology transforms the banking landscape, IT leaders must evolve from operational managers to strategic partners. Discover how they can drive digital transformation, enhance customer experiences, and navigate cybersecurity challenges. Check out our latest blog to learn about the key shifts in IT leadership and why they matter for CEOs looking ahead to 2025. 👉 Read more here: https://bit.ly/4eGP6IF Shea Gabrielleschi Wade H. Barnes, MBA Justin Isenthal #CommunityBanking #ITLeadership #DigitalTransformation #Cybersecurity #BankingInnovation #FutureOfBanking #Leadership #TechStrategy

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A driving factor in the growth of Same Day ACH payments is the ACH Network’s firm establishment. ACH is ubiquitous, and businesses and consumers are familiar with it. Unlike some of the newer real-time payment rails, virtually all FIs are connected to ACH, facilitating money movement regardless of the customer’s bank. “If you’re a business and you haven’t dipped your toe in the faster payments waters yet, start with what you’re familiar with, which is likely to be ACH,” Michael Herd, Executive Vice President of ACH Network Administration at Nacha said. “Same Day ACH is just a faster form of what you already know. It’s the same system and the same processes. You will have to adapt to the faster settlement of funds, but ultimately there’s a much lower barrier to entry.” Read more: https://lnkd.in/e3hiv_g2

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The CFPB Rule 1033 marks a pivotal moment in #FinancialServices. As #OpenBanking becomes the norm, institutions must adapt to stay competitive. Join us next month in Charlotte to hear from an esteemed panel, including Truist's Anthony Burton, Financial Data Exchange's Don Cardinal, Akoya's Paul LaRusso, and Bank of America's Brent A. Plummer as they unravel the complexities of this shift, offering insights into seizing opportunities and managing risks. Register now: https://lnkd.in/e7CY3MBW #BankingInnovation #RegulatoryChange #RiskManagement

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Digital experience alone is just another commodity.... let me explain: I was listening to a great podcast conversation between our CEO, Josh Cook, and author/speaker James Robert Lay the other day, and they really got me thinking about the future of credit unions. Josh started by calling out how every credit union sounds the same. You know the drill: great rates, excellent member service, the latest in technology, blah blah blah. Josh is convinced that sticking to this script is a dead end. If credit unions don’t start differentiating themselves, they’re going to blend into the blur of sameness and become irrelevant. James backed him up, pushing the idea that while digital tools are essential, they’ve got to have a human touch. It’s not enough to just have the latest tech if it doesn’t make people feel genuinely cared for. He emphasized that the real differentiator is how these tools can be used to help create personal, memorable experiences for members. In other words, if we want to grow, we need to master the nuance of Digital Experience plus Human Experience. Josh shared some pretty interesting stories about what we’ve tried at Community Choice Credit Union. (Trust me, there are a lot more great examples than just these!) He also talked about thinking outside the box and creating member experiences that go beyond traditional banking. For Community Choice, it’s all about making meaningful connections with members in highly unexpected ways. The big takeaway? They both believe that credit unions need to stop blending in and start standing out by focusing on leveraging the human experience. It’s not just about offering digital convenience but about how integrating the human experience with digital is what’s making those interactions feel personal and engaging. Plus, if you’re just marketing the same old rates, and the same old products and the exact same online banking app as the bank down the street, you’re stale as hell and not on a trajectory for success. So, as credit union leaders, maybe it’s time to rethink our approach, and make our technology work better by enhancing and incorporating human personality in our digital interactions and connections. We should strive to be more than just another financial option—but one that truly gets and serves its members. That’s the future of banking these guys are talking about, and it sounds like a pretty compelling vision to me. If you haven’t already tuned in, be sure to check out the conversation! (...And if you're hungry for more from Josh, he's be speaking later this month at Credit Union relEvent with some thought provoking challenges for CU Leaders. And James Robert Lay's latest book "Banking on Change: The Leader’s Guide to Achieving Exponential Growth in the Age of AI")

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TransUnion’s quarterly Consumer Pulse Survey explores how consumers’ personal finances have changed and what changes they expect in the future. Download the infographic for a snapshot of the latest findings: https://lnkd.in/gcx_3zKE #ConsumerPulse #TransUnion #CreditTrends

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Team Zest AI will be on the road to Washington D.C for the Virginia Credit Union League #Ignite 2024 Conference. You can find us chatting about #AI and how it can help increase efficiency and automation! #Lending #CreditUnions #FinTech #FairLending

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Is your credit union gaining ground with younger consumers who are either unaware of your organization or may equate your CU with old-fashioned business models? In this interview with PYMNTS, Velera President and CEO Chuck Fagan explains how credit unions can build powerful momentum by augmenting their human-centric approach with technology. ➡️ Read the article and watch the interview, hosted by Karen Webster: https://bit.ly/3VOl67R #CreditUnions #CEOInsights #WeAreVelera

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As Heraclitus observed 25 centuries ago, “change is the only constant in life.” Our advice is rather than wringing our hands or complaining about change, let’s face the facts and prepare our organizations to effectively deal with change. At Principled Transformation, we find that the two bookends of effective organizations are alignment and accountability. We have to know where we are going and we have to be able to get things done. The elements in the middle to create positive energy and movement in the organization are collaboration and innovation. See our blog below to find what our network has identified as key trends in the banking and financial services industry in 2025.

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Here is the Ukrainian credit union entity amount growth since the NBU took the lead in regulation. Both associations You keep to support never objected against such an awful tendency. Neither did Mrs. Ewa Sierghinska on behalf of WOCCU and the people of the United States. In 2024 NBU ceased publishing critical CU performance data, such as loan portfolio delinquency, which caused inability for us to prepare and publish a comprehensive PEARLS-based analysis, which we performed for four years. Ukrainian credit unions charge APR 60% from poor farmers and entrepreneurs while the national currency keeps relative stability. Means these guys pay APR 60% in hard currency. Banks do more or less the same. So what's your mission here? You listen the fairytale about savings guarantees for CU members from Andriy Olenchyk and his mate Ivan Vyshnevsky for 16 (sixteen !!!) years, and there are no guarantees. Rather credit unions RAPIDLY and surely disappear. Ivan and Ewa OBJECTED the need to create a network of military credit unions in the war-burning country ! Did You ever question yourself whom they (USAID CAP-GROW staff) really work for? Russia? No? We think - Yes !!!

TODAY: American Bankers Association Bank Marketing Conference attendees, don’t be late! Catch our 8:45 a.m. CT session, “CFO-Friendly Ways to Right-Sizing Your Institution’s Marketing Investment,” and get insight from two of the banking industry’s best thought leaders and innovators on the levers you can pull to secure a bigger marketing budget and fuel a more powerful customer acquisition strategy.

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As your business grows, it may be more challenging to balance daily cash flow needs and investment opportunities while mitigating risks. Read the latest blog from Texas Gulf Bank to learn how to manage Treasury Management risks, cash flow, and investment opportunities to achieve long-term growth. MEMBER FDIC Treasury Services products are fee-based and subject to approval. https://lnkd.in/gmvKJ7k2

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Synergent's Karen Martin, Assistant Vice President of Product Management, recently was a featured contributor on CUInsight. Local small- to medium-sized businesses are an untapped member segment for countless credit unions. As the gap in technology between credit unions and banks has begun to evaporate, credit unions are more able to support members as they go from consumers into their journey as business owners. With credit unions continuously being pressured to expand income streams, increase deposits, and grow membership, serving small business should be seen as a crucial part of growth strategy. https://hubs.la/Q02DSrTz0

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As contactless payments become the norm, businesses must adapt or risk being left behind. Learn how strategic rollouts and consumer segmentation drive success in this evolving landscape. https://lnkd.in/gEsSyFk3

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Here is a post from a CIO group I follow. We recently helped a multi- location client transition to a Hosted PBX Phone Service to help provide a seamless experience for their customers while improving the efficiency of internal communications as well. Learn more about the benefits and enhanced features in this article.

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The distinction between "digitizing" and "transforming" can make or break your institution's competitive edge. While digitizing processes boosts efficiency, true digital transformation reimagines operations, decision-making, and customer service by leveraging data as a strategic asset.   In this brand new article by Chris Muracco, MBA, you'll learn about: ✔ The crucial difference between digitizing and transforming. ✔ The shift from viewing data as a byproduct to treating it as a core asset. ✔ Using data to personalize experiences and proactively meet customer needs. ✔ Exploring effective fintech partnerships, digital-only branches, and more.   Learn why institutions that harness the power of data to transform their bank not only improve efficiency, but also drive innovation, boost customer satisfaction, and uncover new revenue streams.   Read the full article here!  https://lnkd.in/eY3rwhPS #communitybanking #dataanalytics #digitaltransformation

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