Session Descriptions
Prevail in Retail – Designing the Optimal Retail Banking Ecosystem
The financial institutions that will prevail in 2024 and 2025 are the ones focusing strategic attention on every stage of the retail checking lifecycle. Many financial institutions spend the majority of their budgets and resources at the very top of the funnel, assuming that their newly-acquired customers or members will become profitable and long-term account holders. But without the right retail ecosystem, many of those new account openers will never fully onboard or engage with those institutions.
To prevail in retail, community financial institutions need to grow relationships—not just accounts. In this session, Bob Sterner will demonstrate Velocity’s best practices for helping our clients deepen relationships and drive engagement with their account holders, along with the key metrics that prove success!
Mastering Overdraft and Consumer Liquidity with Options for Everyone
Overdraft continues to be a hot topic, and the CFPB’s proposed overdraft rule has generated more questions than answers. Financial institution executives are continually striving to strike a balance among the three pillars of a complete consumer liquidity program: 1) Service, 2) Revenue and 3) Compliance.
The winning financial institutions in 2024 will overcome the challenges and provide fair, affordable and convenient options for short-term liquidity to their consumers and small business account holders—including a fair overdraft program as well as the ability to obtain responsible short-term loans.
In this session, Velocity CEO Christopher Leonard will present an update on the CFPB’s proposed overdraft rule, as well as the current legislative, regulatory and industry thinking about overdraft. Leading with a focus on fairness, Christopher will outline the most successful and compliant overdraft strategies we’ve seen after working with hundreds of your peer financial institutions and how it’s past time for some overdraft practices to change. These strategies are innovative and offer top-tier, customized liquidity service to your account holders—and they are 100% defensible to your examiners.
Data Trends, Insights & Revelations in Consumer Liquidity Behavior
Tim Barrett, a Senior Executive Strategist and Data Analyst at Velocity, will deliver an in-depth analysis of consumer liquidity trends by leveraging publicly available data alongside Velocity’s extensive data portfolio of account management and transactional behavior. Utilizing advanced visualization tools, he will uncover changing behaviors, trends, and insights that are essential for shaping effective financial strategies, influencing policy-making, and enhancing consumer liquidity support programs.
Tim will also showcase how Velocity’s unique approach to data analysis—integrating peer data, deposit behavior, liquidity needs for purchasing power, repayment capacity, and Regulation E management—offers unparalleled insights. By comparing these findings, he will demonstrate how these data-driven insights can guide and optimize our clients’ consumer liquidity initiatives.
Conquer Your Data to Guide Your Retail Strategy
Retail banking is facing pressure from all directions, and when you factor in the ever-shifting wants and needs of consumers, it becomes increasingly difficult to secure long-term, profitable relationships. It’s more important than ever to take a deeper dive into account holder transactional data to uncover immediate and innovative opportunities for driving revenue and growth.
In this session, Charles Baker, Director of Client Service, will present actual client data to demonstrate how your bank or credit union can leverage key metrics to optimize performance throughout the entire retail checking lifecycle, while increasing the lifetime value of your accounts and fostering long-term loyalty.
Through the use of business intelligence, peer comparisons and Velocity’s proprietary research, Charles will show you how financial institutions “let the data be their guide” to navigate strategic retail decisions for 2024 and 2025.
Upcoming Events
The Velocity Executive Summits are educational forums for bank and credit union executives.
These events are 100% complimentary to qualified attendees, including airfare, hotel and meals.
CPE Credits
Executive Summit: Earn up to 5 CPE Credits
Program Level: Overview
Prerequisites/Advance Preparation: None
Delivery Method: Group Live
Field of Study: Management Services
For more information regarding administrative policies such as complaint and refund, please contact our offices at 954-847-5800.
Learning Objectives:
- Responsible overdraft management and the future of overdraft
- How leveraging your existing data can pay dividends
- The urgent need to provide short-term consumer liquidity
- Innovative account acquisition through multiple channels
- The critical roles of onboarding, engagement and reacquisition in the account life cycle
- Why small business loans make sense for your institution
Velocity Solutions is registered with the National Associate of State Board of Accountancy (NASBA) as a sponsor of continuing professional education on the Nation Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE Credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through it’s website: www.nasbaregistry.org.