Columbia Bank New Jersey’s Post

We are ready to take your #CreditUnion boldly into the future. #DigitalAssets is only a component of the future, and our platform. #PaymentsHub ✅ #PortableIdentity ✅ #OnePlatform. #OnePartner. #OnePassion. To create the most robust future-proof digital #OpenBanking experience for your #members. #PowerToThePeople

🚨 A TOI article dated 05.05.2024: Following significant losses in online betting, a 26-year-old youth resorted to setting up a staggering 125 mule accounts. 🫏 This made this 26-year-old a 'witting' money mule. Leveraging our latest Money Mule Score technology, banks and other FIs could have prevented this escalation by flagging key risk signals such as 👉 Multiple bank accounts 👉 Multiple SIM cards on the same device 👉 Anomalies in his digital footprint The Money Mule Score takes into account 160+ factors when calculating the risk potential of an account becoming a mule account. Protect your reputation and revenue. Schedule a demo with us now: https://lnkd.in/gdJixJuj

MoneyMaster Payment service bank has turned 2 years in the market and needed a celebratory Key Visual that communicated this. So I said hold up, let me whip something up real quick. #anniversary #celebration #photomanipulation #artdirection #creativedesign #visualart

🗣️ “SMBs are less likely to have [large] teams at their disposal, and at the same time, they can’t easily leverage their business banking relationships as much as larger businesses.” ⚖️ Marijke Koninckx, Chief Product Officer at BankiFi, shares why SMBs are continuously underserved by incumbent banks, as well as how co-operation between these incumbents and fintechs can be the resolution of this challenge. 👉 Check it out via Crowdfund Insider: https://hubs.la/Q027m1gn0

Unbank the banked: Self-custody is coming! ... and banks and custodians 𝘤𝘢𝘯 play a role! The chart shows Safe's TVL (total value locked) in comparison to big fintechs' Assets under Custody (AuC). While it is a not fully comparable, what is clear is: More than $100.000.000.000 are entrusted into Safe's Smart Accounts. And this is just mind blowing! 🤯 Stay safe, there's more to come... Credits for "unbank the banked" to Jonah Erlich! Lukas Schor, Anirudh Singh Chohan, Bharat Gupta, Maike Hornung, Patrick Hansen, Alexander Bechtel, Romina Bungert, Maximilian Vargas, Alan Kennedy, Artiona Bogo, Ben Spiegelman, Boaz Avital, Laszlo S., Christopher May, Timo Musiol, CFA, Néstor Palao, Aliya Das Gupta, Max Fantle, David W., Paul Bances, Daniel Marfurt, Daniel Fischmann, Marcos Nunes

ICYMI, the CFPB issued its final "Nonbank Registry" rule on Monday. https://lnkd.in/eH7M7bfq Covered nonbanks must register a broad range of federal, state, or local actions they may have been subject to since 2017 and going forward (procedures TBD). Why? The Bureau will use this information to assess compliance with these orders. It will monitor for risks and develop new rules related to consumer financial products and services. It will use this information in its oversight of the nonbanks now subject to its supervision. 👮♂️ And generally be the "cop on the beat" it always wanted to be. #fintech #consumerprotectioncompliance

Unlocking the Future of Banking: Splitit's CEO Nandan Sheth underscores the urgency for banks to embrace BNPL solutions, highlighting the crucial 'in-checkout' moment they're missing. With the window of opportunity now wide open and regulators leveling the field, it's time for banks to synergize their strengths through strategic partnerships. As PYMNTS notes, banks hold inherent advantages in trust and fraud prevention. Let's capitalize on these strengths to meet the evolving demands of consumers and merchants alike. The BNPL wave is here to stay, and banks cannot afford to be left behind. Read more about Nandan's insights here: https://lnkd.in/djExiS99 #BNPL #FintechEvolution #Splitit #PYMNTS #Forbes

In our latest blog post, Klaros Group co-founder and partner Michele Alt breaks down the data on OCC bank charter applications by fintechs and key takeaways for prospective applicants. https://lnkd.in/difSTzm5

Great post on the #fintech snark tank. Our CEO at Splitit Nandan Sheth hits the nail on the head when saying: “The key to triumph in the ongoing contest for the future of BNPL lies in synergizing the strengths of banks to offer a distinctive set of differentiators through strategic partnerships.” What are some other informative thoughts from the latest snark tank? Well here they are directly from the author Ron Shevlin (taken directly from his post): 1️⃣ 𝗕𝗡𝗣𝗟 𝗶𝘀𝗻'𝘁 𝗴𝗼𝗶𝗻𝗴 𝗮𝘄𝗮𝘆. Whatever happens from a regulatory perspective isn't going to kill BNPL. 2️⃣ 𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗕𝗡𝗣𝗟 𝗮𝗽𝗽𝗿𝗼𝗮𝗰𝗵𝗲𝘀 𝗮𝗿𝗲 𝗵𝘂𝗿𝘁𝗶𝗻𝗴 𝗯𝗮𝗻𝗸𝘀. A number of industry observers have argued that banks (and CUs) have "inherent advantages" in the BNPL space. Nonsense. Those observers don't understand the BNPL provider value proposition to merchants if they think that. 3️⃣ 𝗕𝗮𝗻𝗸𝘀 𝗮𝗻𝗱 𝗰𝗿𝗲𝗱𝗶𝘁 𝘂𝗻𝗶𝗼𝗻𝘀 𝙝𝙖𝙫𝙚 𝙩𝙤 𝗰𝗼𝗺𝗽𝗲𝘁𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗕𝗡𝗣𝗟 𝘀𝗽𝗮𝗰𝗲. It's not simply about a loss of interchange revenue. It's about deposit displacement, lost credit card growth opportunities, and lost loan growth opportunities. Check out the full article here: https://lnkd.in/gdTUa8xR #buynowpaylater #bnpl #Splitit #fintechevolution #PYMNTS #forbes

👋Perks of being an FFM customer 👉Turning your loose change into savings with our convenient coin machines. Most First Farmers & Merchants Bank locations have coin machines and will count your loose change at no charge. FFM Customer service only. 💸 Contact your local branch to determine if they offer this service --> www.ffmbank.com We believe in you. Member FDIC and the community. 💰 #CoinMachine #SaveMoney #FFM #FirstFarmersandMerchantsBank #SpareChange