Randall Rosen

Discover the five key features to consider when selecting a next-gen ACH solution. Stay ahead of the curve with insights from Fiserv.

1

Kitchen table issues remain front and center for many customers and members at #communitybanks and #creditunions. Offering a checking product that delivers real value to them is the kind of brand reinforcement community FIs can't buy. Delivering not just value in a product but value across customers/members' lives is why BaZing has been boosting primacy, organic growth, and noninterest income to hundreds of community FIs that have joined us. What's more, as banking continues to become more competitive, BaZing helps community FIs differentiate from the competition. #banks #banking #communitybanks #creditunions #checkingproducts #primacy

4

#CreditUnions don’t need to be afraid of #NEOBANKS. You just need to upgrade your experiences. Cost of capital and FOM focus is something no other type of financial institution can win on. Forget surviving. It’s time for credit unions to #thrive.

29

4 Comments

The true potential of real-time payments goes beyond just speed. It’s about integrating each transaction into a dynamic financial ecosystem, unlocking opportunities for growth, efficiency, and innovation. The real question for banks and credit unions isn’t whether you’ll keep up—but whether you’ll lead. To lead, it’s crucial to move beyond processing payments and start leveraging real-time data to drive smarter, more informed decisions. This is where the future of banking lies. Are you ready to take the lead with real-time capabilities? Explore how a modern, flexible digital banking platform can help you stay ahead. https://lnkd.in/dCHYUdU #RealTimePayments #DigitalBanking #Innovation #Banks #CreditUnions #FutureOfFinance

12

Looking to elevate workflow efficiency? Shastic's AI-Workflow-Automation platform is what your credit union needs to revolutionize operational efficiency and member engagement. Why Choose Shastic? -Streamline Processes: Automate to save time and minimize errors to focus on high-value tasks. -Enhanced Member Experience: Deliver personalized, digital-first services that exceed member expectations. -Drive Efficiency and Growth: Leverage predictive analytics for data-driven decisions, enhancing your competitive edge. -Seamless Integration: Effortlessly connects to your existing systems in minutes with minimal IT lift. 🔍 Transformative Impact From loan processing to member services, witness a tangible improvement in productivity, satisfaction, and ROI. Join the leaders who are already redefining the credit union industry with Shastic. 🌐 Schedule Your Demo Today Don't just keep pace with technology—lead the charge. Request your Shastic demo today and take the first step toward a smarter, more responsive, and member-focused future. https://hubs.ly/Q02Py-7B0 #AI #workflowautomation #efficiency #automation #creditunion #banking #workflow

4

Community financial institutions must find new ways to compete and attract small business clients by re-framing their value proposition. Using data analytics and value-added technology services can help. Learn more in this report from Celent. https://lnkd.in/gcerKKik

21

Key Facts SMB Digital Lending leverages advanced data analytics and machine learning to help banks profitably source, underwrite, and fund loans of any size to small and medium-sized businesses.

1

From PFM to PFE: The Future of Financial Engagement is Here! Personetics' President of Americas, Jody Bhagat, explains in Credit Union Times how AI-powered Personal Financial Engagement (PFE) is helping credit unions deliver proactive, personalized guidance at scale — reinventing how they support their members' financial goals. https://lnkd.in/d7diz6MW

4

If every financial institution offers the same deposit products, how can they create deposit offerings that set them apart?    Community financial institutions now face heavy deposit competition and margin compression, and pricing has become an increasingly dangerous means of creating differentiation, especially when it's the only tool institutions use.  Join us to learn how to create a durable competitive advantage across the spectrum of deposits from DDA to CDs.  

15

Today, 65% of bank branches are traditional models not primed for a more modernized purpose. As they look at ways to transform their branch networks, banks are balancing savings and growth. Retail delivery should support both renewed purpose for consumers, and at the same time, provide value for banks. #branchpurpose #branchbanking

18

Prepare for upcoming challenges by scheduling a tailored annual Data Analytics Checkup for your credit union. Acquire unbiased insights and discover valuable data at https://lnkd.in/gB8EASQm #TuesdayTip #DataAnalytics

1

As mentioned in the MRC | Merchant Risk Council's 2024 Global Payments and Fraud Report, we're seeing a rising tide of first-party misuse impacting nearly all businesses. In the first blog in a two-part series on the topic, we define the different types of first-party fraud your business is likely already experiencing and offer some tips on fighting back: https://lnkd.in/gTiwmrui

12

IN CASE YOU MISSED IT: Galileo Financial Technologies' '24 Consumer Banking Report sheds light on how FIs can drive better customer & member ROIs. It’s all about driving engagement. Here’s the scoop: The report focuses on where consumers primarily conduct their banking activities, recognizing that most people deal with multiple providers. DIGITAL BANKS WIN ACCOUNTS BUT TRAIL ON ENGAGEMENT As of April ‘24: • Top 20 traditional banks = 2.7B customers  • Top 20 digital banks= 3.8B customers 🏆 Sure, digital banks acquired 41% more customers, but they’ve struggled to engage them. In fact, they’re at the bottom: % of respondents that report having their PFI relationship at various FI types: • Big 4: 38% • Super regional bank: 19% • CU: 14% • Community bank: 13% • Regional bank: 7% • Digital bank: 6% 👈 • Other: 3% USAGE BENCHMARKS Direct deposit continues to be a good signal for primacy, with well over 80% reporting they make direct deposits with their PFI. Regular use of digital banking, ATMs, credit monitoring services, & digital wallets (in that order) are also solid indicators of PFI status. How often respondents use different channels: • Mobile banking: 58% weekly | 72% at least monthly  • Online banking: 44% weekly | 66% at least monthly • ATM: 25% weekly | 56% at least monthly • Visit a branch: 9% weekly | 33% at least monthly CUSTOMERS & MEMBERS ARE CHEATING ON THEIR FIs  “People are curating a suite of financial services within & outside their primary FI, & the PFI probably doesn’t even know it.” This really stings: “Customers (& members) use other FIs for key services even when their PFI offers that same service.” 😳 WINNING REQUIRES TIMELY, HYPER-PERSONALIZATION “Banks & CUs that can’t recognize a customer’s or member’s immediate need miss a big opportunity to meet that need before a competitor does” In the good ol’ days, you could wait for someone to visit a branch to discover what they need. Not anymore. “60% of people said they prefer to do everything without human interaction. Being at the point of need requires data that can be used to create nimble, timely, hyper-personalized experiences.” ATTRITION CAN FEEL INVISIBLE “Customers might not leave your FI, but they might stop adding value and complete most of their financial activities elsewhere. FIs must offer their customers highly curated offers at the point of need & at exactly the right time. Only data-driven strategies will enable this.” 💡 See the full report: https://lnkd.in/g8C_fpjd Data gathered via Datos Insights #communitybanks #creditunions #digitalbanking #bankinginnovation

13

1 Comment

When outdated processes drag your lending operations down, process automation can supply a lift. A low-code automation platform streamlines workflows, modernizes systems, and eliminates errors—saving your team time and resources where it matters most. 📥 Download the checklist to explore solutions for lending’s toughest challenges: https://lnkd.in/d2NMtzSe #LendingAutomation #FinancialServices #ProcessImprovement #BankingInnovation #CreditUnions

7

What really matters for customers/members of any banking relationship, particularly #communitybanks and #creditunions, is that they feel like their FI has their backs. And the most important way to do that is for community FIs to provide products that show they understand their customers' and members' needs. That's the whole point of BaZing. It gives community FIs a great modern value-driven checking product that adds shopping discounts, cell phone protection, and much more to customers' and members' accounts for a low monthly subscription. And it's a lot more palatable than service fees. The best thing about BaZing (and BaZingBiz) is, any FI can get it up and running in as little as three months.

3

Direct-to-consumer fintechs are growing rapidly, and if credit unions don’t adapt, market share could slip away. That’s why Shastic’s platform is built to empower institutions like yours—offering tools to streamline lending, improve member experiences, and enhance competitiveness without sacrificing personal connection. Keep your edge—Ask how we can help your credit union thrive. https://hubs.ly/Q02W-p0M0 #AI #RPA #Banking #CreditUnion #Lending #AIWorkflowAutomation #WorkflowAutomation #Efficiency #Loan #Fintech #PeopleHelpingPeople

3

Is your institution still relying on manual processes for commercial account onboarding? It’s time to rethink how you approach business banking. Discover how a digital-first strategy can enhance efficiency, reduce fraud, and improve customer satisfaction. The future of business onboarding is here. Read more: https://lnkd.in/eaGwqJFz #DigitalTransformation #BusinessBanking #CustomerExperience #CommercialLending #FinTech

13