Sessions

A Look at Innovation in 2020 and Beyond

Velocity’s team stays at the forefront of thought leadership on innovation in digital strategies for community financial institutions. How can you best innovate within your own organization in 2020 to grow in your existing markets and find new ones?

In this insightful presentation, Velocity CEO Christopher Leonard will present attendees with a view of how disruptive technologies have changed many other industries, and then draw parallels to banking’s current transformation and future.

Best of all, you will leave this session with concrete ideas for how you can build a culture of innovation within your organization that has the potential to yield real and measurable returns in both the number of consumers and businesses served as well as dollars earned.

Analyze the Optics of Your Overdraft Program

Does your overdraft program allow people making just a few hundred dollars a month to have the same overdraft limit you make available to someone making thousands a month? How does that look to your account holders when you charge them off because they had too big of a limit? And how does it look to an account holder depositing significant amounts when that person has a transaction declined because you were trying to come up with a one-size-fits-all overdraft limit that wouldn’t be too risky for someone making far less money?

Regulators also are increasingly looking to ability-to-repay as the gold standard for short-term liquidity. Just look at rulemakings over the past few years on credit cards, payday loans and other consumer products to see that ability to repay is here to stay.

In this session we’ll show the actual before and after view of moving from unmanaged, one-size-fits-all overdraft limits to a managed program, as well as two variations of the managed program to give you even more flexibility.

At Velocity, our goal is for you to be able to look at your overdraft program and be proud of the optics as well as the improved way you manage revenue and compliance for this important fee income source.

A 360 Degree View of How Relationships Impact Revenue

Your financial institution is spending considerable money on account acquisition. And it appears to be working – you’re seeing steady growth in your account base. So why aren’t you seeing comparable growth in your revenue numbers and your deposits?

Once you take a 360-degree view of your new account activity, you might find that a good percentage of these new account holders never fully onboarded with you. A successfully onboarded account holder will generate more deposit activity, use more products and services with your institution, transact more heavily and stay with you longer.

Research has proven that the level of engagement closely correlates with the profitability of checking accounts. But your account holders won’t generate profitable activity until they’re fully onboarded and committed to your bank or credit union as their primary financial institution.

In this presentation, we’ll discuss how you can leverage data and digital strategies to successfully onboard new accounts, drive cross-sales and boost transactional activity.

Scoping Out Digital Lending Strategies & Opportunities

Digital lending platforms are no longer a “nice-to-have” technology and service for your account holders. Today’s retail and commercial account holders expect their primary financial institution to provide them with the liquidity they need to manage their personal or business finances, and they expect the convenience of having 24/7 access from the digital device of their choice.

On the business side, the growing prevalence of small business people who need loans of $250,000 or less who are going to non-bank financial technology lenders for those loans is a trend you can counter with the right technology. And on the consumer side, not only are numerous regulatory agencies encouraging the availability of short-term, small-dollar consumer loans, but they’re also encouraging alternative underwriting guidelines that better measure the ability to repay than the traditional credit checks. Do you have solutions that can address these trends?

In this session, we’ll discuss how partnering with a fintech partner to allow you to offer digital consumer and small business loans is not only efficient and affordable, but also allows you to easily comply with regulations and offer alternative underwriting to expand availability of credit to more borrowers.

Insights into the Power of Analytics & Data

Big Data isn’t a buzzword to us. We’ve been leveraging it, analyzing it and using it to drive our clients’ businesses since 1995.

In this session, Charles Baker, Velocity veteran and Director of Client Service, will demonstrate how we measure and report upon some of our key solutions.

Using actual client data, Charles will walk through the major KPIs we track for our Account Revenue Solution™, Intelligent Limit System® and My Rewards™ Premium Card programs and will explain how these data insights lead to more revenue opportunities for our bank and credit union clients.

Focus on Digital for Account Acquisition & Deposit Growth

Over the past several years, checking deposit growth has been declining—the most fundamental source of revenue for community banks and credit unions.

While evolving technology, stagnant population growth and other environmental forces played parts in the decline, you are also losing potential deposits to big bank strategies of cash offers and promises of high interest rates. These strategies are expensive to execute and have very low retention rates, but they continue to open new accounts that could have been yours.

In this presentation, we’ll discuss how an automated account acquisition strategy using a combination of digital referrals, social media marketing, direct mail and digital marketing can win account holders away from the big banks and result in profitable new accounts that stay with you longer.

Upcoming Events

The Velocity Executive Summits are one-day events designed to help bank and credit union executives keep pace with the ever-evolving banking technology and developing regulatory landscape.

Tampa, FL

Le Méridien Tampa

January 30, 2020

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Austin, TX

Four Seasons Austin

April 7, 2020

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Seattle, WA

Renaissance Seattle Hotel

June 4, 2020

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Pentagon City, VA

The Ritz-Carlton

August 25, 2020

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Las Vegas, NV

The Wynn Las Vegas

September 29, 2020

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Nashville, TN

Renaissance Nashville

November 19, 2020

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CPE Credits

ILS Training: Earn up to 5 CPE Credits

Program Level: Overview
Prerequisites/Advance Preparation: None
Delivery Method: Group-live

Registered with CPE Logo

Velocity Solutions, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsored may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

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