The Financial Institution Learning Center

The Federal Reserve's FedNow Service, a real-time payment and settlement service, presents substantial opportunities as well as a series of challenges for financial institutions. Operating 24/7/365 allows instant access to funds, transforming the transaction experience. This article critically evaluates the potential benefits, risks, and risk mitigation strategies for offering this service.

Is your financial institution struggling to increase deposits? You’re not alone. Deposits at most financial institutions have plummeted recently, falling nearly $126 billion in the last two years.

In today’s business environment, financial institutions need to do all they can to stay ahead of the competition. If improving your corporate culture isn’t on your to-do list, here’s why you should add it.

In December last year, FDIC acting Chairman Martin Gruenberg warned that higher inflation, higher interest rates, and geopolitical uncertainty could reduce bank profits in 2023. No one has a definitive forecast, but clouds of a possible recession also continue to appear on the horizon. In this uncertain economic climate, how will your financial institution prepare to weather the possible storms?

The Federal Reserve is creating the FedNow^SM Service, an instant-payments system planned for release sometime in 2023.

Fraudsters never rest; they just keep changing their game. That means you can’t afford to rest, either. Since the pandemic began, online and mobile banking have become far more prevalent, creating a new high-tech playing field for fraud. What worked this year to prevent theft at your financial institution may not be sufficient in 2023 and beyond.

Your online and mobile banking software is critical to your institution’s success, but adopting new software can be daunting. With so many choices and so much at stake, what’s the best strategy for making a wise decision?  

Especially since the pandemic began, consumers are demanding more and better electronic banking options. According to recent research conducted by Citizens Bank, “Most consumers now choose their banking partner based on mobile and online banking capabilities, with 40% of consumers saying it was the most important factor, while only 27% cite the convenience of physical branch locations as the most important factor.” 

In this guide, I’m going to show you step by step how easy it is to create an effective marketing campaign for your financial institution. Follow these simple steps, and you’ll be generating more business in no time.

For the last 10 years, we have been fortunate to experience good economic times. Even in the face of a devastating global pandemic, asset prices performed well, and delinquencies and defaults have trended downward.