Resource Center

Industry pundits prognosticate on how overdraft is going away, and create the impression that all consumers detest overdraft and want the service to end. In this article, Christopher Leonard explains that while changes may occur, overdraft is not over.

In response to the unprecedented COVID-19 pandemic and subsequent CARES Act, the rate of adoption and utilization of digital lending technology on behalf of borrowers and lenders has increased dramatically.

This isn’t your dad’s economy. Many of today’s consumers are struggling with a lack of cash and retirement savings. Consumers and the government agencies are counting on community banks and credit unions!

Many consumers would prefer to obtain responsible, affordable short-term loans to manage liquidity needs. Community FIs can provide these loans through automated processes and partnering with a fintech provider.

Velocity EVP Steve Swanston discusses the evolution of overdraft services, from the early days of the “wild west” to the more recent management of overdraft as a valuable service and compliant line of business.

The CFPB issued its final payday lending rule in October 2017. As written, it promises to offer community banks and credit unions significant benefits for providing small-dollar loans to their consumers.

Is your financial institution considering a new overdraft program? Tim Barrett, Velocity DDA Strategist, outlines ten critical factors that should affect your decision.

A proactive, compliant Reg. E outreach effort needs to be ongoing at your bank or credit union to maximize account holder service and prevent the loss of business and overdraft fee income.

Velocity CEO Christopher Leonard talks to CUInsight about the challenges faced by community financial institutions in using their data in meaningful, actionable ways.

In order for community financial institutions to grow, they need to consistently monitor and measure critical account data points and modify their procedures accordingly.

You’re wasting valuable time if you present new account holders with a “menu” of checking account options. Keep it simple and save that time building a relationship with your new account holder!

Consumers are increasingly demanding new technology, and community financial institutions have to keep pace! To do so, they must collaborate with fintechs and work together to create a synergy that neither entity can achieve alone.

American consumers need cash, and the big financial institutions they once relied on have lost—and keep losing—their trust. It’s time for community financial institutions to step up!

Does your overdraft solution meet the needs of your account holders, your regulators, your staff and your board of directors? Make sure it offers these 5 critical features!

In your goal to become your account holders’ primary financial institution, are you doing everything you can to secure their loyalty?

Does your bank or credit union have the “Fear of Missing Out” on digital lending? You should! Here are the top reasons why you’re missing out!

In our digital world, the opportunities for cybercriminals to access confidential information, steal identities and misappropriate funds increases exponentially. Here are the top 5 measures you should take.

Industry articles, lawmakers and even financial institutions may not realize the positive economic impact that overdraft programs provide—not only to consumers, but to the economy at large.

If your bank or credit union is evaluating your deposit products and whether they’ve evolved with industry changes, learn why we recommend the power of three.

Are your employees presenting Reg. E options to your account holders in a way that is clear, consistent, compliant and objective?

American consumers differ dramatically in their income levels, deposit behavior, transactional activity and ability to repay. So why would you offer the same limit to all your account holders?

The war for deposits is fiercer than ever, but community financial institutions can win the battle for deposit share from their larger rivals.

Each new customer or member who enters your branch is a great opportunity. This visit may be the most time you ever spend with them, so make it count!

Financial institutions that manage overdraft with outdated programs cannot capitalize on the opportunity to improve service and compliance.

It’s always a good time to teach your front line staff how to sell strategically and with a renewed customer/member focus.

We’ve compiled the top 5 reasons why community financial institutions are not offering short-term loans, and why they should reconsider!

The proliferation of customer/member data and the ability to use it open up countless new service and revenue opportunities. But does your institution know how to put that data to work to boost service and performance levels?