Chris Morphew

For the first time, RDFIs will have a defined role in monitoring ACH payments they receive. This significant development, approved by Nacha members, aims to combat fraud, including business email compromise (BEC), associated with credit-push payments. As Jane Larimer, Nacha President and CEO, points out, "All participants in the ACH Network have a part to play in reducing the incidence of fraud and recovering when fraud has occurred." Learn more in our April 2024 Innovating Payments Executive Summary— Nacha Rules Take Aim at Credit-Push Fraud: https://lnkd.in/ezsgudgX. Plan to join Sean Carter, AAP, APRP, Mark J. Dixon, CTP, AAP, APRP, NCP, Mary Morrison, AAP, APRP, NCP, CAMS, and Patty Presta for a comprehensive two-part series, "Diving Into the Operation Impact of the New ACH Rules," on May 31 and June 07, 2024, where they will delve into the implications of these new rules, offering insights on implementation, procedures, policy updates, audits, risk assessments, and organizational engagement. 🔍 Curious about engaging with third-party providers? 📝 Wondering about new procedures and policy updates? 🤔 Unsure about ACH audits or risk assessments? Get the answers by registering for Diving Into the Operation Impact of the New ACH Rules: https://lnkd.in/e7y73DN2 #ACH #FinancialServices #FraudPrevention #RegulatoryCompliance #ProfessionalDevelopment

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To all #CDFI #CreditUnions Worried About Losing Certification: The CDFI Fund's revised CDFI Certification Application WILL NOT result in the loss of your certification, if you contact us now. CU Strategic Planning was at the forefront of advocacy to ensure the revision had the flexibility for credit unions to maintain CDFI Certification. Since then, CU Strategic Planning has been actively working with over 100 credit unions to ensure their recertification success. This includes creating advisory boards, community development mission statements, providing product design insights and defensible justification of product attributes. Most powerfully, with the depth of that expert consulting (not available through a technology company alone), we took a giant leap forward by merging two leading organizations to create a profound alliance with Callahan & Associates, Inc. the national leader in data analytics for credit unions. CU Strategic Planning is now a Callahan & Associates company leveraging the power of the most trusted data system in the movement. As THE credit union CDFI certification experts, we are and have been for the last 16 years working to ensure every credit union serving people of modest means can attain and retain its CDFI Certification. If you believe you are in jeopardy of losing your certification, come to the experts. No one has certified more credit unions as CDFIs than CU Strategic Planning. Learn more: https://lnkd.in/gbvdeYpe Schedule a call: https://lnkd.in/gr_FemEV

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Looking to elevate workflow efficiency? Shastic's AI-Workflow-Automation platform is what your credit union needs to revolutionize operational efficiency and member engagement. Why Choose Shastic? -Streamline Processes: Automate to save time and minimize errors to focus on high-value tasks. -Enhanced Member Experience: Deliver personalized, digital-first services that exceed member expectations. -Drive Efficiency and Growth: Leverage predictive analytics for data-driven decisions, enhancing your competitive edge. -Seamless Integration: Effortlessly connects to your existing systems in minutes with minimal IT lift. 🔍 Transformative Impact From loan processing to member services, witness a tangible improvement in productivity, satisfaction, and ROI. Join the leaders who are already redefining the credit union industry with Shastic. 🌐 Schedule Your Demo Today Don't just keep pace with technology—lead the charge. Request your Shastic demo today and take the first step toward a smarter, more responsive, and member-focused future. https://hubs.ly/Q02Py-7B0 #AI #workflowautomation #efficiency #automation #creditunion #banking #workflow

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To all #CDFI #CreditUnions Worried About Losing Certification: On December 7, 2023, the Community Development Financial Institutions Fund (CDFI Fund) published a revised CDFI Certification Application. Since then, CUCollaborate has heard from many credit unions that they worry about retaining Certification under the revised application. So, over the last few months, we have been working hard to develop strategies -- and the necessary software to support them -- to provide credit unions the best chance of retaining Certification. Below are some of the strategies, including software we have developed: 1. Custom Investment Areas (IA): While the revised certification application has significantly diminished the potential impact of custom IAs, they are still a critical tool for credit unions within reach of Certification but not quite there. Our software draws mathematically optimized, custom IAs based on a credit union’s lending activity and financial services. 2. Financial Services Option Analysis: Under the revised application, credit unions that either have 60% by number and 50% of the dollar, or 50% by number and 60% by dollar, can retain Certification if at least 60% of the credit union's depository account holders are members of one or more eligible Target Markets. We have found that the combination of a mathematically optimized Custom IA and the Financial Services Option is particularly effective in retaining Certification, specifically in desperate cases. 3. Target Market API: We have developed a CDFI Target Market API which supports a number of strategies to ensure that you meet your target market lending requirements moving forward. We have established, and continue to add more partnerships, with Fintechs (like National Auto Loan Network, LoanStar Technologies, GreenLyne, etc.) and loan participation platforms (like Aluvy, etc.) to help source qualified lending to ensure credit unions retain certification in the future. 4. CDFI Certification Dashboard: We have also developed a data analytics platform, allowing credit unions to monitor the necessary statistics to retain certification on a rolling basis to ensure that if they start to fall behind, proactive action may be taken before it is too late. 5. CUSO Strategies: If all else fails, credit unions can leverage CUSOs to either help the credit union attain or retain Certification directly OR indirectly gain the many benefits conferred by CDFI Certification through a CDFI Loan Fund CUSO. We know the value of your CDFI Certification, which is why we have invested significantly in developing strategies and proprietary technology that help credit unions retain Certification. Moreover, the software we have developed allows us to help credit unions retain Certification in instances when it would simply be impossible without it. If you believe you are in jeopardy of losing your certification, please contact us: https://lnkd.in/gsysDMTp

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About a year after the FedNow service launched, financial institutions are focusing on delivering customer value through overlay services like Request for Payments (RfP) built on instant payment systems. This tool remains underutilized by many banks, with only 39% fully recognizing its high demand, resulting in missed opportunities. Meanwhile, fintechs are ahead of the game, offering streamlined invoicing and QR-based bill payments to attract business clients. It’s time for banks to catch up and harness the potential of RfP. Find out how in our latest blog. Why Banks Can't Afford to Ignore Request for Payment - Finzly https://hubs.la/Q02DSqzt0

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Preventing ACH fraud in isolation is almost impossible. Institutions need to harness the collective power of the industry to better protect against evolving ACH fraud threats. Learn how a consortium approach to payments fraud can help your institution protect yourself and your customer from falling victim to sophisticated scams. Download our infographic, NACHA’s New Rules: What Your Institution Needs to Know, to learn more! https://buff.ly/3zMrvbh

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The current challenges of ACH fraud require an industry wide approach. Download our new infographic, NACHA’s New Rules: What Your Institution Needs to Know, to learn how your institution can be prepared to respond to this evolving landscape. https://buff.ly/3zMrvbh

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Is your bank ready to modernize its core systems? With core modernization, regional banks can scale faster, launch new products, and meet the demands of today's banking environment. Core modernization goes beyond upgrading technology. It’s about responding to shifting market needs, improving customer engagement, and achieving sustainable growth. There are four main approaches to core modernization, each offering unique benefits depending on a bank’s needs and risk tolerance: 1) Big Bang Modernization: A full, rapid technology overhaul. 2) Greenfield Modernization: Building a new platform alongside the existing one. 3) Sidecar Modernization: Running new functions in parallel with legacy systems. 4) Progressive Modernization: Gradual replacement of legacy components. Each approach has its strengths, and it’s up to each bank to determine which path best aligns with their strategy for growth. What do you see as the biggest challenge for your bank when modernizing core systems? Explore the different approaches and find out which best fits your institution’s strategy in today's OrboNation blog post!

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Many banks and credit unions use Alchemer Digital to collect and respond to in-app and web customer feedback. This helps them drive data-driven product decisions and increase member retention. Learn how Advantis Credit Union uses Alchemer Digital to increase ROI and improve customer satisfaction, loyalty, and retention. https://lnkd.in/gitbeBgE

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Is your financial institution prepared for the future of digital banking? Discover the key strategies that will drive success in 2025 with THE 2025 DIGITAL BANKING PLAYBOOK: Budgeting & Strategies for Banks and Credit Unions. Learn how to elevate your digital sales and service channels to meet rising customer expectations and secure your competitive edge. Download your copy today. 👉 https://bit.ly/3zGFrnn #DigitalBanking #Fintech #BankingGrowth #DigitalTransformation #FinancialInstitutions #AlkamiPlaybook #TechFin

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Announcing our new ACH Fraud Solution 🚀 In the era of faster real-time payments, ACH adoption is skyrocketing. But with over $80 trillion in ACH transactions processed annually, protecting your institution from fraud is more critical than ever. Unit21’s ACH Fraud Solution is designed to proactively block risky ACH transactions before they happen. Reduce fraud losses, cut return rates, and supercharge investigations with AI. Here's how it works: 🔎 Detect risk: Increase detection accuracy via machine learning, reducing false positives.  🚫 Prevent fraud: Stop fraudulent ACH transactions before they hit, reducing losses. 😎 Respond confidently: Achieve faster investigations and resolution times with AI automation. See all of this and more in action during our upcoming demo: https://hubs.li/Q02LKDQh0 #ACHFraud #ACH #FraudPrevention #FraudFighters

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The industry should rally behind the Financial Data Exchange, which has stepped up to help develop standards and governance protocols for open banking in the United States, writes Hashim Toussaint, of FIS, in American Banker’s BankThink.https://https://lnkd.in/gpwFM-6X

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The latest data from NCUA paints a challenging picture for credit unions, but staying informed is the first step toward tackling these issues head-on. Check out our News & Resources page for an in-depth look at the trends and what’s next for the industry. #CreditUnionData #FinancialServices #TyfoneInsights

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Community banks and credit unions are gaining momentum in the credit card issuing space. To maximize the value of their new cardholders, these smaller FIs need a solid early month on book strategy. Download our tip sheet for essential EMOB truths and consequences for community issuers ➡️

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