Tim Dively, MBA

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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Now you can prevent failed incoming ACH debits 🛟 This new feature enables your customers to automatically move money from a different account to keep an incoming ACH debit from failing due to insufficient funds. https://lnkd.in/gwb_VbVf 

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TODAY: Melissa Marsal joins the Abrigo Think Big 2024 Conference Kick Off and Keynote General Session to discuss resilience in community banking. Comprised of innovative banking leaders, the panel will cover how to drive growth and uncover critical insights while mitigating risk in our modern digital age. For more information about the ThinkBig 2024 Conference and today's session visit https://lnkd.in/efECJjq #thinkbig2024 #thinkbigconference #futureofbanking

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This evaluation requires collaboration between team members and stakeholders to gauge the financial and strategic implications of delays accurately. Read more 👉 https://lttr.ai/AVAZv #CostOfDelay #Kanban #EvaluationRequiresCollaboration #ClearFinancialPerspective #GuidingPrinciple #TeamDelivers #MakeInformedDecisions #PivotalRole #MarketOpportunity #CustomerSatisfaction #ConceptPlays #AdjustingPrioritiesBased

Fraud poses a significant threat to the trust of customers and members of financial institutions. Download the results of Abrigo's latest survey to learn more about the current state of fraud: https://lnkd.in/gudrWHPZ

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Discover the power of Community Development Financial Institutions (CDFIs): We’re sharing the essentials: - What are CDFIs and how do they operate? - What does the current CDFI market look like? - Where do CDFIs source their capital? - How are CDFIs paving the way for a more equitable future? - How can CDFIs be included in client portfolios? Dive in and see how CDFIs are making a difference. Find out more: https://lnkd.in/enRY9ECw #ImpactInvesting #CommunityDevelopment #CDFI #SocialFinance #EconomicEmpowerment

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IN THE NEWS: Spectrum Financial Service Conference Returns for 2024 with Full Agenda of Impactful Issues. Read the full article posted by Cayman Finance below. https://zurl.co/4rNx #spectrum2024 #financialservices #conference

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Read this Q&A from Jennifer Dimenna about roadblocks to digital transformation and how your financial institution can avoid them. https://lnkd.in/eSfUhdcy

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Tune in to learn how #creditunions can better manage third-party fintech risk in this recent webinar produced by Venminder.

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To all #CDFI #CreditUnions Worried About Losing Certification: On December 7, 2023, the Community Development Financial Institutions Fund (CDFI Fund) published a revised CDFI Certification Application. Since then, CUCollaborate has heard from many credit unions that they worry about retaining Certification under the revised application. So, over the last few months, we have been working hard to develop strategies -- and the necessary software to support them -- to provide credit unions the best chance of retaining Certification. Below are some of the strategies, including software we have developed: 1. Custom Investment Areas (IA): While the revised certification application has significantly diminished the potential impact of custom IAs, they are still a critical tool for credit unions within reach of Certification but not quite there. Our software draws mathematically optimized, custom IAs based on a credit union’s lending activity and financial services. 2. Financial Services Option Analysis: Under the revised application, credit unions that either have 60% by number and 50% of the dollar, or 50% by number and 60% by dollar, can retain Certification if at least 60% of the credit union's depository account holders are members of one or more eligible Target Markets. We have found that the combination of a mathematically optimized Custom IA and the Financial Services Option is particularly effective in retaining Certification, specifically in desperate cases. 3. Target Market API: We have developed a CDFI Target Market API which supports a number of strategies to ensure that you meet your target market lending requirements moving forward. We have established, and continue to add more partnerships, with Fintechs (like National Auto Loan Network, LoanStar Technologies, GreenLyne, etc.) and loan participation platforms (like Aluvy, etc.) to help source qualified lending to ensure credit unions retain certification in the future. 4. CDFI Certification Dashboard: We have also developed a data analytics platform, allowing credit unions to monitor the necessary statistics to retain certification on a rolling basis to ensure that if they start to fall behind, proactive action may be taken before it is too late. 5. CUSO Strategies: If all else fails, credit unions can leverage CUSOs to either help the credit union attain or retain Certification directly OR indirectly gain the many benefits conferred by CDFI Certification through a CDFI Loan Fund CUSO. We know the value of your CDFI Certification, which is why we have invested significantly in developing strategies and proprietary technology that help credit unions retain Certification. Moreover, the software we have developed allows us to help credit unions retain Certification in instances when it would simply be impossible without it. If you believe you are in jeopardy of losing your certification, please contact us: https://lnkd.in/gsysDMTp

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To tackle the risk of ACH fraud, banks should monitor both incoming and outgoing NACHA files. Robust solutions can detect patterns in account behavior, outlier transactions, and reputation-based risk factors to help prevent unauthorized ACH activity and account takeovers. #Banking #FraudPrevention #ACH https://hubs.la/Q02ZdVyl0

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For the first time, RDFIs will have a defined role in monitoring ACH payments they receive. This significant development, approved by Nacha members, aims to combat fraud, including business email compromise (BEC), associated with credit-push payments. As Jane Larimer, Nacha President and CEO, points out, "All participants in the ACH Network have a part to play in reducing the incidence of fraud and recovering when fraud has occurred." Learn more in our April 2024 Innovating Payments Executive Summary— Nacha Rules Take Aim at Credit-Push Fraud: https://lnkd.in/ezsgudgX. Plan to join Sean Carter, AAP, APRP, Mark J. Dixon, CTP, AAP, APRP, NCP, Mary Morrison, AAP, APRP, NCP, CAMS, and Patty Presta for a comprehensive two-part series, "Diving Into the Operation Impact of the New ACH Rules," on May 31 and June 07, 2024, where they will delve into the implications of these new rules, offering insights on implementation, procedures, policy updates, audits, risk assessments, and organizational engagement. 🔍 Curious about engaging with third-party providers? 📝 Wondering about new procedures and policy updates? 🤔 Unsure about ACH audits or risk assessments? Get the answers by registering for Diving Into the Operation Impact of the New ACH Rules: https://lnkd.in/e7y73DN2 #ACH #FinancialServices #FraudPrevention #RegulatoryCompliance #ProfessionalDevelopment

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If you're heading to Charlotte for the Banking Transformation Summit tomorrow, you'll want to connect with FusionIQ EVP of Business Development Sean Ristau who will be leading our team at this leading bank tech event. Find out more about our award-winning wealth management solutions for banks and how we're providing an easy on-ramp to digital transformation: https://lnkd.in/gx8yG2Fu #banktech #wealthmanagement #fintech #digitalleadership #wealthtech

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Compt founder & CEO Amy Spurling shares her insights on the transformative power of peer-to-peer recognition in the workplace. At Compt, we’ve seen how recognizing each other’s efforts can boost morale, strengthen team bonds, and enhance productivity. Check out the full article to see Amy’s thoughts and learn more about fostering a culture of appreciation and connection 👉 https://hubs.li/Q02H4RlM0 #EmployeeRecognition #WorkplaceCulture #PeerRecognition

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The National Credit Union Administration (NCUA) views third-party vendors as critical yet vulnerable links in safeguarding member information. Failure to comply with data disposal guidelines exposes credit unions to severe risks, including national and cybersecurity threats and systemic economic disruptions. By adhering to the NCUA's stringent standards, third-party vendors can mitigate these threats and avoid grave legal and financial consequences. This blog details essential strategies and tools, like BitRaser, to ensure compliant, secure, and unrecoverable data disposal. Read here: https://lnkd.in/gBGj4PJq #NCUA #FFIEC #creditunion #data #datadisposal #thirdparty #compliance #vendors #cybersecurity

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