Payments Source

SEPTEMBER 9, 2019

The massive scale of the e-commerce market is burdening community banks with its volume of payments. But there may be strength in numbers.

Community Banks 68

Community Banks Volume Payments Real Time Payments 68

PYMNTS

JANUARY 24, 2019

Zelle’s operator, Early Warning Services, reported a Q4 payment volume of $35 billion, which is up 12 percent from Q3 and 61 percent from a year before. Zelle has outperformed Venmo with volume, but not with PayPal’s branded money transfers. Also, 135 million transactions were processed during that same time.

Zelle 69

Zelle Volume Process Venmo 69

PYMNTS

NOVEMBER 16, 2018

Small business credit analysis company PayNet is linking up with a community bank to streamline SMB lending for the institution. ” Analysis has also found that community banks are playing a larger role in small business lending. A report published by the U.S.

Community Banks 53

Community Banks Small Business Risk Assessment Underwriting 53

PYMNTS

OCTOBER 11, 2017

Small business (SMB) lending is big business for community banks , which are a popular destination for small business borrowers, thanks to strong approval rates on loan applications. But new analysis from the Federal Reserve has identified a reversal in community banks’ position in the small business lending market.

Community Banks 43

Community Banks Federal Reserve Fed Small Business 43

PYMNTS

SEPTEMBER 24, 2020

smaller community banks and credit unions (CUs) stepped up to the plate and, according to the Small Business Association (SBA), ended up facilitating more than half of PPP loan volume to SMBs. That's good news for community banks and credit unions, which could see a wave of new SMB customers and members in the coming months.

Credit Union 77

Credit Union Small Business Community Banks Volume 77

PYMNTS

SEPTEMBER 13, 2016

Along with that growth in card numbers, said the firm, purchase transactions and volumes are also on the upswing. In one recent case study tied to instant issuance, Entrust Datacard stated that Woodforest National Bank, a community bank operating across 17 U.S. in the past year.

Card Issuer 69

Card Issuer Debit Card EMV Issuers 69

Bank Automation

OCTOBER 4, 2024

As real-time payments become integral to growth strategies, small financial institutions are increasingly signing on with instant payment rail FedNow to boost transaction volume and improve efficiency.

FedNow 52

FedNow Federal Reserve Credit Union Real Time Payments 52

PYMNTS

OCTOBER 25, 2020

The technology particularly impacted FIs like community banks, Minority Depository Institutions (MDIs) and Community Development Financial Institutions, which made up around 75 percent of the StreetShares PPP loan forgiveness volume, the release stated.

Credit Union 64

Credit Union Community Banks Underserved Small Business 64

PYMNTS

FEBRUARY 1, 2019

Venmo posted an 80 percent spike in transaction volume, hitting $19 billion in the fourth quarter of 2018, according to PayPal’s most recent financial earnings release. When it came to total P2P volume, including transfers sent through the core PayPal service, the Q4 volume hit $39 billion. million U.S.

Venmo 71

Venmo P2P Zelle PayPal 71

PYMNTS

MARCH 2, 2020

The new entity promises to bring “ultra-low-cost banking technology, process and platform” to existing FIs. Verdigras Commercial will work with a subscription pricing model based on volumes, with flexible contracts allowing for timelines as short as six months at a time. It will have all-inclusive services, including in-house support.

Volume 60

Volume P2P Community Banks Verification 60

PYMNTS

OCTOBER 12, 2018

In reference to the consumer, too, consumer and community banking revenues were up 1 percent to $13.3 Supplemental materials released by the company show that card spending – excluding commercial cards – was up 12 percent to $176 billion in terms of sales volume. Loans during the period came to just under $425 billion.

Commercial Card 57

Commercial Card Volume Community Banks Origination 57

Fintech News

DECEMBER 12, 2023

Leveraging AI for personalised lending Source: Freepik According to Isabel Fernandez, EVP of Lending at Finastra , mid-sized and community banks are advancing beyond larger banks due to their agility and less cumbersome legacy systems.

FinTech 113

FinTech ISO 20022 Fraud Detection Instant Payments 113

Fintech News

DECEMBER 12, 2023

According to Isabel Fernandez , EVP of Lending at Finastra, mid-sized and community banks are advancing beyond larger banks due to their agility and less cumbersome legacy systems. They are focusing on digital transformation, developing customised credit solutions, and improving risk management.

FinTech 98

FinTech ISO 20022 Fraud Detection Financial Literacy 98

PYMNTS

JULY 14, 2020

JPMorgan Chase’s consumer-banking segment saw revenues drop 26 percent to $5.1 The bank reported reserve builds of $8.9 billion firmwide and a decline in credit card sales volume of 23 percent for its consumer & community banking division. The bank reported an $8.4 Also, consumer loans dropped $15.7

Consumer 63

Consumer Online and Mobile Banking Credit Cards Volume 63

Finovate

JULY 9, 2024

. “We’re excited about incorporating Curinos’ leading-edge data into our already robust analytics offering and making more decision-making tools available to our clients, particularly smaller community banks and credit unions,” Adrenaline Managing Director of Retail Strategy Ben Hopper said.

Credit Union 59

Credit Union Community Banks AI Volume 59

PYMNTS

MARCH 11, 2020

Making the necessary investments is especially challenging for smaller community banks and credit unions (CUs), Good maintained. Payment volume through smart devices worn on the body (watches, yes, but also other options) may top $500 billion this year, he added. Invisible Payments .

Contactless Payments 103

Contactless Payments Payments Credit Union Processors 103

PYMNTS

JANUARY 18, 2018

The volume of same-day automated clearing house (ACH) transactions is expected to rise over the coming months, BusinessInsider reported. According to a NACHA survey, 82 percent of financial institutions surveyed anticipate that Same Day ACH debit volume will grow at a rapid or steady rate. based FIs offer same-day credits.

NACHA 43

NACHA ACH Same Day ACH Transactions 43

PYMNTS

MARCH 28, 2019

The Clearing House (TCH), which operates the RTP Business Committee, has added four seats to the committee to incorporate community bank and credit union representation, and also released a set of business principles to outline the RTP’s work. The RTP network was created to help depository institutions with their needs.

TCH 49

TCH RTP Credit Union Payment Message 49

PYMNTS

AUGUST 12, 2019

both banks and alternative lenders say they’re experiencing an increase in small business loan volume. “Small business lending remains strong and is growing at big banks and at regional and community banks,” said Biz2Credit CEO Rohit Arora in a statement. Now they’re just not transacting.”

Small Business 57

Small Business Volume On-Demand Community Banks 57

PYMNTS

MAY 27, 2020

“We saw things like digital interactive teller utilization going up by 550 percent, for example,” he told Webster, “and online and mobile banking spiking 300 percent to 400 percent in many instances.”. He noted that P2P payment volume moving across Zelle exploded, taking mere weeks to top what had previously been annual volumes.

FinTech 94

FinTech Online and Mobile Banking Innovation FDIC 94

Finovate

JULY 31, 2024

Parlay , which offers an AI-powered Loan Intelligence System (LIS) to help community banks and credit unions boost small business loan volume, is one of eight startups selected to participate in Mastercard’s Start Path Small Business program.

Small Business 59

Small Business Visa Credit Union Underwriting 59

PYMNTS

APRIL 12, 2019

Drilling down into the consumer unit, the company said core consumer loan volume was up 3 percent. In supplemental materials provided along with earnings, JPMorgan said its consumer and community banking unit logged net income of $4 billion, which was up 19 percent year over year. billion compared to $157.1

Volume 43

Volume Credit Cards Community Banks Consumer 43

PYMNTS

JANUARY 23, 2020

The new value limit was introduced to address the growing transaction volume and users on the network. The RTP Business Committee — comprised of representatives from community banks, credit unions and TCH member banks — green-lighted the new transaction limit.

TCH 52

TCH RTP Transactions Credit Union 52

PYMNTS

JUNE 18, 2018

This week’s B2B Data Digest explores the stats behind these two conclusions, and also dives into separate analysis about the state of small business lending technology, volume and optimism. percent decline in shares at large banks , coinciding with a 7.8 percent increase in shares at mid-cap regional banks and a 12.1

Small Business 44

Small Business Community Banks Credit Union Caps 44

PYMNTS

JULY 14, 2017

consumer remains healthy, evidenced in our strong underlying performance in Consumer & Community Banking. Loans and deposits continue to grow strongly, and card sales and merchant processing volumes were up double digits, reflecting our consistent investment in the business.”. Card sales volume was $156.8

Online and Mobile Banking 43

Online and Mobile Banking Credit Cards Volume Community Banks 43

PYMNTS

JANUARY 15, 2019

Finally, the organization wants to promote education and awareness by developing a “program that results in better understanding of faster payments and greater confidence among providers and users, ultimately driving adoption and transaction volumes toward the industry goal of ubiquity.”.

Faster Payments 51

Faster Payments FPC End User Bankers' Bank 51

Finovate

OCTOBER 16, 2024

Banks connected to the FedNow network range in size from under $500 million to more than $3 trillion in assets. Of the FedNow participants, 78% are community banks and credit unions. Close to 60% of the financial institutions on board with FedNow can receive payments, while only 40% of firms have signed up to send payments.

FedNow 59

FedNow Instant Payments Disputes Federal Reserve 59

Fintech Finance

MAY 16, 2024

Banking is becoming more digital by the day. Therefore, it’s crucial for banks, particularly smaller-sized institutions like credit unions, community banks, and local and regional banks, to establish robust digital onboarding experiences.”

Online and Mobile Banking 52

Online and Mobile Banking Credit Union Underwriting Rules 52

PYMNTS

JANUARY 15, 2019

But it was in consumer and community banking that the company showed traction, and where revenues of $13.7 billion in the latest period, while merchant processing volume gained 17 percent to $375 billion. Home lending was off by 8 percent from $1.4 Credit card sales were up 10 percent to $185.3 million in the latest period.

Credit Cards 55

Credit Cards Correspondent Community Banks Volume 55

PYMNTS

JANUARY 14, 2020

In terms of headline numbers, the banking giant reported earnings per share of $2.57, up 21 percent year on year and well above the $2.35 Average deposits in the consumer and community banking segment were up 5 percent. Supplementals provided by the company showed that merchant processing volumes were $402.9

Transactions 52

Transactions Consumer Credit Cards API 52

PYMNTS

OCTOBER 12, 2017

In the consumer and community banking segment, revenues were up 6 percent year on year to $12 billion. Credit card sales and merchant volumes were up 13 percent. Total debit and credit card sales volume was up 11 percent year over year to $231.1 Revenues were $26.2 billion, while the Street had pegged $25.6

Online and Mobile Banking 43

Online and Mobile Banking Credit Cards Volume P2P 43

PYMNTS

JANUARY 14, 2020

In terms of headline numbers, the banking giant reported earnings per share of $2.57, up 21 percent year on year and well above the $2.35 Average deposits in the consumer and community banking segment were up 5 percent. Supplementals provided by the company showed that merchant processing volumes were $402.9

Transactions 52

Transactions Consumer Credit Cards API 52

PYMNTS

APRIL 14, 2020

Supplemental materials released by the company show that within the consumer and community banking unit, revenues were down 2 percent year over year to $13.2 Piepszak said during the call that the bank’s liquidity position remains strong, and financial results also show some increased activity in deposits into the end of the period.

Credit Cards 52

Credit Cards Community Banks Consumer Volume 52

PYMNTS

JULY 16, 2019

And drilling down to unit contributions, consumer and community banking revenues were up 1 percent to $13.8 Card sales volume gained 11 percent from the year-ago period to $192.5 Other consumer lending, excluding credit cards , was down 6 percent year on year to $352 billion. Within that segment, card income was $1.2

Credit Cards 43

Credit Cards Non-Bank Community Banks Adjustments 43

Fintech Labs Insights

JUNE 15, 2016

Market intelligence is the tool for this kind of “know your customer,” but for many small and medium-sized banks the challenge of turning raw customer data into actionable market intelligence has been both pricey and technically prohibitive. A small bank simply couldn’t achieve this by itself.

Community Banks 15

Community Banks Credit Union CRM Database 15

Lending Front

JUNE 15, 2021

The biggest problem with small business lending right now is that many community banks and lenders don’t have the bandwidth to process small business loan applications. And when you can review more applications, you can say ‘yes’ to more customers—effectively doubling or tripling your lending volume. . Using the right tools .

Underwriting 52

Underwriting Small Business Federal Reserve Assessments 52

PYMNTS

JUNE 24, 2019

Earlier this month, payment company PayFi and The Clearing House (TCH) partnered to bring real-time payments technologies to the community banks. Adoption depends greatly on partnerships to make RTP more accessible. percent CAGR between 2018 and 2025. The gig economy’s functionality is tied to real-time payments.

Real Time Payments 65

Real Time Payments RTP Faster Payments Payments 65