Ron Bergamesca

When customers expect options to pay online, businesses benefit from the use of electronic lockbox, or eLockbox. This is a remittance payment service that allows customers to make payments in whichever form they prefer while delivering those funds in one simple ACH deposit and compressed data file. Learn how bank lockbox services work in this blog: https://hubs.li/Q02z3RNh0

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💼 Only 4% of financial services leaders believe their digital offering meets the mark in delivering an exceptional customer experience, as reported by the BAI Banking Strategies Executive Report 2023. Elevate your bank's customer experience with Kentico – the perfect fit for enhancing client satisfaction. Discover how Xperience by Kentico can transform your digital presence: 👉 https://lnkd.in/e-SvPQzZ #DigitalTransformation #CustomerExperience #fintech #DXP 🏦

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What if your lending team never slowed down, no matter the workload? That’s the magic of automated agents. With Shastic’s Mago platform, automated agents work tirelessly behind the scenes, tackling tasks like document validation and loan processing so your credit union never misses a beat. Think of them as the team member who never clocks out—streamlining workflows, eliminating bottlenecks, and freeing your team to deliver an experience that delights. It’s time to make automation a part of your team. Ready to meet your newest hire? https://hubs.ly/Q02_Nycx0 #AI #RPA #Banking #CreditUnion #Lending #AIWorkflowAutomation #WorkflowAutomation #Efficiency #Loan #Fintech #PeopleHelpingPeople #AutomatedAgent #Streamline

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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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We built BaZing so #communitybanks and #creditunions could have a unique checking product that wasn't about charging fees but about creating membership with significant value for their customers and members. And pressure on OD/NSF fees isn't just about FIs that are at or above the $10 billion threshold. If those banks and CUs have to comply to low or no OD/NSF fees, and lower interchange fees, then they can more readily compete with community FIs that haven't changed their policies or simply massaged around the edges. While on its face these fee reductions look to be something that might hamstring larger FIs, but in fact they'll use this shift as a competitive advantage (and make up for those fees elsewhere). BaZing is about delivering a unique product for community FIs to accomplish two key goals. 1. To provide a product that reinforces the core values of community banks. 2. To help community FIs thrive in a world of increasing competition, especially from mega banks and big regionals. BaZing is built to go from agreement to implementation in as little as three months. It's also been around for more than two decades, and has a roster of hundreds of community FIs that are happy customers. Maybe it's time to think about solving today's challenges with a product that's built for what current and potential customers/members want? #banks #banking #checkingproduct #communitybanking

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Ever wondered how your money effortlessly moves between bank accounts? It's all thanks to ACH Routing Numbers! Discover how ACH Routing Numbers simplify your banking experience, making transfers a walk in the park. Here's what you need to know. ▪️ Name of the institution that receives the payment ▪️ Account number of the recipient ▪️ ABA rounding number ▪️ Type of the bank account  ▪️ Total transaction amount Say goodbye to confusion and hello to convenience! Check out our blog now and master the art of seamless banking. #MoonInvoice #invoicesoftware #achrouting #smallbusinesses #SeamlessBanking #estimates #ReceiptMaker #moneytransfer

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Macha, Inc. and PaymentsFirst, Inc. to Merge Combination Creates Dynamic Payment Association Macha, Inc. ("Macha") and PaymentsFirst, Inc. ("PFI") announced today that their respective Boards of Directors have approved a merger agreement under which the two payment associations will combine. Macha's wholly-owned subsidiary, Payment Advisory Resource ("PAR"), will continue to offer audit and consulting services under the combined payment association. "Our organizations have very similar cultures and approaches to education, advocacy, and member-oriented service, and this merger gives us the strength and resources to remain competitive going forward.," said Mary Gilmeister, President and CEO of Macha. Rich Leary, President and CEO of PFI added, "I am excited to partner PaymentsFirst’s, education, member services, proprietary audit and risk assessment software, and industry leading AI utilization with all the exceptional services Macha offers to their members." Gilmeister will serve as the CEO of the resulting entity, and Leary will serve as the President. Leary noted, "I’ve collaborated with Mary Gilmeister on many industry initiatives over the past 30 years and am truly looking forward to bringing our teams together to serve our combined members." Gilmeister observed that "Rich Leary and his team have built a legacy with PFI that makes it a perfect fit for Macha and we look forward to working together and carrying that forward." The merger is subject to approval by the members of both Macha and PFI in accordance with their respective bylaws. The votes are expected to occur in the 3rd quarter of 2024 with consummation to follow shortly thereafter. Reinhart Boerner Van Deuren s.c. served as Macha's legal advisor. Adams and Reese LLP served as PFI’s legal advisor. ### About Macha Macha was formed in 1975 and has more than 500 members. Macha, directly and through PAR, offers its members support on all payment systems, education, audit, risk and consulting services. www.macha.org. Contact Mary Gilmeister at (262) 345-1245 or [email protected]. About PFI PFI was formed in 2015 and has more than 650 members. PFI offers its members support on all payment systems, education, audit, risk, and consulting services. www.paymentsfirst.org. Contact Rich Leary at (678) 528-3234 or [email protected]. View the full press release here: https://lnkd.in/ec2g97Ak

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Attending #Payments2024 next week? Don't miss this #FinTech demo on payment fraud prevention and reporting with Jaime Berg, Director, Sales. Take this opportunity to enhance your institution's capabilities as Jaime dives into ACH and Check Positive Pay, EDI Translation, and ACH Returns and NOCs Reporting. Take a minute to catch up with our recent blog post "Exploring Commercial Banking Solutions: A Comprehensive Look at #ACHCreditPayments" 👉 https://bit.ly/3JMI9sx

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Unveiling GiveCard Bank Payments 🪄 We're talking about the incredible power of ACH and instant bank transfers via Fednow/RTP. Send bank payments that zip through, completing in mere moments. ⚡ No more conjuring up endless paperwork or waiting for days on end. With these magical instruments, disbursing funds becomes a breeze – swift, secure, and trackable every step of the way. 👣 ACH: A trusted tool for dependable, bulk payments to bank accounts. Instant Transfers: Instantaneous bulk disbursements, for when speed is crucial. GiveCard amplifies the magic further with effortless setup. Get started in minutes, no need to navigate complex mazes. Ready to embark on this financial quest? Join us in Givetopia, a realm where payments flow flawlessly, and organizations wield the power of instant disbursement ✨ Explore your options & enter Givetopia today: https://lnkd.in/g6CTNfVZ #ACH #Fednow #RTP #InstantPayments

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Early adopters of AI-Workflow-Automation aren’t just keeping pace—they’re setting it! If you’re not keeping up and your credit union is facing questions like, “Why not a fintech?” or “How do we stay relevant?” Shastic has the answer. Our platform allows credit unions to scale their operations efficiently, improving the lending experience and delivering competitive results without losing sight of your people helping people mission. Let’s set the pace together. Book your consultation today! https://hubs.ly/Q02VWNKx0 #AI #RPA #Banking #CreditUnion #Lending #AIWorkflowAutomation #WorkflowAutomation #Efficiency #Loan #Fintech #PeopleHelpingPeople

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We are super excited to announce a beta release of our new ACH fraud model built specifically for the unique needs of software platforms ⚡ It automatically scores incoming ACH charges via Stripe Connect for their likelihood of return, empowering software platforms to reduce fraud losses and lower unauthorized ACH return rates. 🙌 ACH continues to be a popular method of payment 💸 especially for large ticket transactions such as contractor/construction payments. However, over 30% of businesses have experienced fraud when accepting ACH payments even though it's cheaper to accept. 😮 "Friendly fraud" in ACH continues to be a huge issue for platforms and merchants on Stripe Connect. While ACH is popular among merchants given it's lower cost, platforms struggle with the economics of ACH especially when fraud threatens to take away a huge portion of their revenue 🤔 Our new ACH fraud model is setup to automatically score the ACH charges for our platform customers on Stripe and vet potentially high risk transactions with an additional review in our Fuzio platform. 🤝 With the early success of this model, we are excited to open up the beta for other platforms 🎯 For more, read the announcement in the comments section 👇

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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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Be in the know on #payments news with this week’s #WeekendReads ⬇️ 1. CU 2.0 Podcast: James Colassano on Real Time Payments (RTP) Coming At You https://lnkd.in/g-ru-iXg / CU 2.0 2. New Study Highlights Tech Trends and Top Priorities for Banks in 2024 and 2025 https://lnkd.in/gS-gsKA4 / Bank Automation News 3. Is Request to Pay the New Frontier of Payments in Europe? https://lnkd.in/dH9z-HHK / Payments Cards & Mobile 4. Instant Payments Drive Profits for the Small Restaurants That Use Them https://lnkd.in/eXAyhUx5 / PYMNTS 5. Why Banks and Credit Unions Are Moving Slowly to Real-Time Payments https://lnkd.in/gZ3jz56g / PaymentsJournal

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Why wait for members to fire you before making a change? By adopting Shastic’s platform, your credit union gains an edge in delivering seamless experiences while staying true to its mission of member-first service. Don’t let fintechs define what convenience looks like—delight your members! https://hubs.ly/Q02WwlGh0 #AI #RPA #Banking #CreditUnion #Lending #AIWorkflowAutomation #WorkflowAutomation #Efficiency #Loan #Fintech #PeopleHelpingPeople

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Siloed, manual processes just cannot scale. And with growing dispute volumes and frequent bank acquisitions, the ability to scale is critical. Talk to us today about how your bank or credit union can use the FINBOA platform to manage disputes. #rege #digitalbanking

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The RTP® network has made significant strides in bringing instant payments to financial institutions and their customers. TCH is dedicated to expanding #instantpayments for all financial institutions and have close to 700 FIs live on the network, which equals 68% of U.S. demand deposit accounts. Read more about the RTP network's progress, including growing transaction volumes, in this article from American Banker: https://lnkd.in/gjjie-xa

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