South State Correspondent

OCTOBER 18, 2023

Fund Transfer Pricing (FTP) We have written about FTP in other articles, but in summary, FTP measures interest rate, credit, and liquidity risk and enables costs to be transferred from central treasury functions to the bank’s products and business lines. Banks can then measure the economic value obtained from each product separately.

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Bank Innovation

FEBRUARY 19, 2020

savings account annual percentage yield. The company, which launched its products nationally Wednesday, is coming into the market as fintech startups like Wealthfront, Betterment and Varo are touting high-yield savings accounts to vie for market share. is trying to hook customers with a 2.1%

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South State Correspondent

MARCH 19, 2024

In a future article we will discuss how community bankers may structure their commercial loan products to maximize cross-selling and upsell opportunities. With proper tools and strategies, community bankers can upsell and cross-sell their products to maximize profitability. In banking, those numbers are markedly different.

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South State Correspondent

APRIL 19, 2023

The concern is grounded in data as higher balance accounts are more interest rate and risk-sensitive than lower balance accounts. Uninsured Deposit Performance – By Balance By way of an example, below is our updated decay data of money market accounts based on account size.

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How To Examples Resources Community Bank 195

Perficient

MARCH 2, 2021

How and with whom you work with in your banking relationships, where your depository and disbursement accounts are located, your account structure, ZBA Sweep Accounts, and how you record the transactions in your general ledger. Prepare a complete listing of all your accounts that you will be maintaining in your ERP.

Payments 322

Payments Meeting Groups System 322

Perficient

NOVEMBER 19, 2020

Banks should use Covid-19 as an opportunity to assess their end-to-end digital account-opening capabilities. Here are the top 10 questions they should ask themselves: How long does it take to open an account digitally? How many clicks does it take to open an online account? hits the Save or Next button).

social media 309

social media Customer Experience Knowledge Base Mobile 309

PYMNTS

MAY 26, 2020

With features such as free cash deposits and a high-yield savings account, Walmart and Green Dot unveiled updated benefits for the Walmart MoneyCard Reloadable Debit Card program. Now more than ever, consumers are looking for ways to manage their money for less, while saving as much as they can. “Now

Management 221

Management Cards Retail Mobile 221

American Banker

APRIL 9, 2024

Some online banks that offer high-yield savings accounts are making those products a little less high-yielding. Banks are also shortening the duration of new CDs, hoping that anticipated rate cuts by the Fed will enable them to start paying less to consumers.

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Online 82

Perficient

OCTOBER 7, 2020

Amid COVID-19, we are purchasing almost all of our products online, meaning more and more customers are going online each day to find the products they need, which can become a struggle with the lack of in-person assistance. Step 1: Create a free account and install Tidio using the JavaScript Code.

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Tools Online Resources US 508

South State Correspondent

FEBRUARY 28, 2023

While we charted Fed rate movements below, we can see similar spikes when there are material equity declines, negative economic news that increases the need to save, financial news that increases interest rates, and world events, such as a war or pandemic, that cause a flight to investment safety. The answer is before when demand is high.

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Strategy Marketing Meeting Trends 195

South State Correspondent

AUGUST 3, 2023

Seasoned bankers call it “The Distributor Tactic,” and it is a little-discussed technique used for ages in banking to speed up the sales cycle to land commercial bank deposits and treasury management accounts faster. Each one of these products helps reduce the customer’s cost and saves them time.

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Metro Data Management Marketing 195

Bank Innovation

APRIL 11, 2018

UK digital bank Tandem has released its second banking product, savings accounts which allow users a guaranteed interest rate, the company announced today. The savings accounts comes only two months after the launch of its banking first product, the Tandem credit card, in February.

Digital Banking 191

Digital Banking Cards Company Online 191

Bank Innovation

DECEMBER 16, 2019

The brand released a new current account for U.K. customers last week, the first product launched by the bank since it was acquired by CYBG in 2018. With its mixture of personal finance management tools, savings features and remodeled branches, Virgin Money is aiming for […].

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Strategy Community Tools Branding 243

Perficient

NOVEMBER 11, 2020

Multi-factor authentication (MFA) is one of the easiest, most effective ways to help prevent unauthorized account access and safeguard your Salesforce data. MFA adds an extra layer of protection against threats like phishing attacks, credential stuffing, and account takeovers. Step 1: Login into your Salesforce account.

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Maine Mobile Security System 322

Bank Innovation

JULY 24, 2019

Robo-adviser Betterment is launching high-yield savings and checking accounts in an effort to enhance existing customer relationships and grow its customer base, to whom it can pitch other products.

FDIC 170

FDIC New York Marketing Company 170

Bank Innovation

JULY 24, 2019

Robo-adviser Betterment is launching high-yield savings and checking accounts in an effort to enhance existing customer relationships and grow its customer base, to whom it can pitch other products.

FDIC 170

FDIC New York Marketing Company 170

TheGuardian

MARCH 1, 2024

Thief went on £9,000 spree with the victim’s money before using her Uber account to travel to Stansted If you are one of those people who keeps their debit card in their mobile phone case, has a note of their pin on their handset, or only ever uses mobile banking, you may want to rethink your setup after you read the case of Sami Souret*.

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Lending Apple Mobile Cards 104

Bank Innovation

SEPTEMBER 6, 2019

In a bid to grow its deposit base, digital-only Radius Bank is folding debit-based rewards and high-yield savings into one product called Rewards Checking. The account offers 1% cash back on debit transactions and up to 1.2% APY on savings.

Branding 186

Branding Retail 186

Bank Innovation

FEBRUARY 27, 2018

based lender Virgin Money said it will offer current accounts and savings products. In its earnings call today, Virgin Money said it will begin testing these products later this year and has already spent £38.3 Make way for a new digital challenger bank. million ($53.3 According.Read More.

Digital Banking 284

Digital Banking Capital Fintech Lending 284

PYMNTS

NOVEMBER 19, 2020

Citi and Mastercard are teaming up as network partners for the digital checking and savings account Citi Plex on Google Pay, available for both Android and iOS. . Citi Plex account holders will receive a debit Mastercard, an auto provisioned instant digital debit card.

Google 284

Google ATM America Digital Banking 284

Perficient

FEBRUARY 2, 2023

Shoppable posts are photo posts of merchandise that have hyperlinks to their respective product pages. According to Instagram , 130 million user accounts tap on shopping posts to learn more about products every month. The widespread adoption of real-time payments resulted in an estimated cost savings of $12.6

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Industry Trends social media Payments 471

South State Correspondent

JANUARY 10, 2024

The Better Way to Calculate Value: Customers and Product If you lower deposit rates in this market, you will likely lose customers to competition that may be paying 5% or greater. All customers are not the same, nor are all products. As such, a bank should allocate greater sales, marketing, and product dollars to this effort.

Management 195

Management Examples Marketing Millennials 195

PYMNTS

OCTOBER 21, 2020

A New York-based startup is shaking up the stodgy world of banking by offering customers a chance to win prizes as an incentive to save money. Adam Moelis , co-founder and CEO of Yotta Savings , told PYMNTS that the idea of rewarding savers makes sense, given how much people love to play the lottery but struggle to sock money away.

FDIC 232

FDIC New York Tools Marketing 232

Bank Innovation

AUGUST 6, 2019

KeyBank announced new offerings this week, including an automatic savings tool called EasyUp. That tool automatically transfers money from checking to savings accounts after every debit card purchase, a product similar to the autosave features of personal finance startups and digital-only banks.

Tools 186

Tools Innovation Cards Payments 186

PYMNTS

JANUARY 19, 2021

And the pandemic has done nothing but coalesce LendingClub’s digital strategy to become a full spectrum of consumer and commercial loan products across digital conduits, said Nayar (who added that LendingClub already exists as a “massive powerhouse on the loan side”). High-Yield Savings. Timing, as they say, is everything.

Digital Banking 290

Digital Banking Cards Digital Strategies Survey 290

Perficient

OCTOBER 26, 2022

More accessible and digestible data gives organizations the information required to build the kind of intuitive, tailored products that customers want and need. It also supplies firms with deeper insight into their customer base, enabling them to suggest and sell the right products at the right time. Invest in marketing.

Data 275

Data Tools Training Cards 275

Perficient

NOVEMBER 11, 2020

Salesforce CPQ is a sales tool for companies to provide accurate pricing with any given product configuration scenario. CPQ helps sales representatives to sell the right product combinations, control discounts, and automate approvals. This can help you save time and money. Product Configuration. Product Bundles.

Tools 322

Tools Security Groups Data 322

PYMNTS

FEBRUARY 20, 2020

FinTech Paysend is introducing Global Account, its international, fee-free mobile money account with a multi-currency wallet, to European users, the company announced on Thursday (Feb. The Global Account offering aims to save people as much as £2 billion in currency conversions when buying abroad. million in the firm.

Mobile 187

Mobile Analysis Fintech Cards 187

South State Correspondent

AUGUST 10, 2023

Understanding A Core System In its purest form, a bank’s core system is a ledger to keep track of accounts and balances. A customer gets on their mobile phone to send a payment, and the dirty secret is we “memo post” that debit, changing the customer’s balance and making them think the money is no longer in the account.

System 195

System Examples Operations Data 195

Perficient

DECEMBER 14, 2023

For businesses, the benefits of Automated Invoice Processing translate to significant time savings, reduction in processing errors, operational cost savings, and improved employee productivity. This results in stronger supplier relationships, enhanced compliance and audit, and timely payments.

Training 221

Training Strategy Exercises Data 221

Perficient

DECEMBER 14, 2023

For businesses, the benefits of Automated Invoice Processing translate to significant time savings, reduction in processing errors, operational cost savings, and improved employee productivity. This results in stronger supplier relationships, enhanced compliance and audit, and timely payments.

Training 221

Training Strategy Exercises Data 221

PYMNTS

NOVEMBER 24, 2020

FinTech, digital banking, saving, N26, banking, news, what's hotGerman FinTech N26 is launching a subscription-based digital banking suite to help individuals and businesses better manage their savings and spending. Also included are five no-charge ATM withdrawals each month. Also included are five no-charge ATM withdrawals each month.

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Tools Management Digital Banking ATM 231

South State Correspondent

JANUARY 25, 2024

Where traditionally, you might use an interface such as Siri or Alexa to pay your Verizon bill on time, now you tell your virtual assistant to “Reduce expenses by 10%, increase earnings by 10%, and put the difference into a savings account to result in more than $1 million in 10 years.”

Examples 370

Examples Security User Experience Data 370

PYMNTS

DECEMBER 16, 2018

Robinhood , the FinTech that garnered a lot of attention last week after announcing a checking and savings product with 3 percent interest, has retreated from that, removing any mention of checking and savings from the product. This has gigantic ramifications for the banking industry.”.

FDIC 191

FDIC Fintech Regulation Report 191

South State Correspondent

JANUARY 23, 2023

Our innovation working group, called Spark, has been playing with the tool for the past several months, and this article details how we use it to jump our productivity by 20%. How Bankers Will Use This Amazing Tool Bankers can use ChatGPT in various ways to improve their productivity, operations, and customer experience.

Tools 370

Tools Examples Analysis Data 370

Bank Innovation

JULY 23, 2019

On Tuesday, the company raised $160 million to build out its platform through a high-yield savings account and stock trading platform, two products that will roll out later […].

Company 186

Company Customer Experience Capital Retail 186

South State Correspondent

AUGUST 29, 2022

Approximately 1,000 banks in the country use some form of hedging products to manage risk, generate fee income, or provide product offerings demanded by their customers. However, about one in five community banks offer some form of loan-by-loan hedging products. Loan-level Vs. Balance Sheet Hedging. Loan-Level. Balance Sheet.

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Community Bank Community Strategy Regional 195