JMARQ Consulting, Inc.’s Post

BIG NEWS IN PAYMENTS...Fiserv is making a move to eliminate its requirement to have a sponsor bank to process credit cards by seeking its own bank charter. This will allow Fiserv to vertically integrate the sponsor bank fee into its revenue stream. It will also eliminate the need for a sponsor bank to approve its processing segments, which would allow Fiserv to potentially expand into higher risk areas than its sponsor bank permits. Fiserv is being very careful to indicate to the financial institutions market that it will not be competing with them for traditional banking. This PR play is very important based on the importance of banks and credit unions to Fiserv's business model. On paper the differentiated limited purpose charter supports aligns with their PR positioning, but only time will tell whether they expand to a full bank charter. It will be very interesting to see if other large processor pursue the same strategy. #payments #fiserv #firstdata #sponsorbank #bankcharter

🙌🏼 Steve is spot on here, and I couldn't agree more. Not only is the sky not falling, but it comes down to the partnership, the utilization of the #corebanking system itself, and the knowledge internally. Looking into a modernization strategy and/or optimization may be the best route for #banks and #creditunions. 📢 Speaking of that, the same goes for your #digitalbanking solution. The sky isn't always falling, and often times can be a relationship/partnership issue or not fully optimizing the system to its full capabilities. Like Steve and his #core team, we are the most experienced #digital consulting firm for banks and credit unions to help guide the journey of #digitalevolution, #optimization, #renewals, and if it warrants it, #newsystemselection. Proud to be part of and lead the digital team for Cornerstone Advisors. #digital #banking Jim Burson, Josh Davis, Ryan Ceglarek, Evan Arnold, Sam Kilmer, Jim Hartman, Jessica Pinkston, Amanda L. Swanson, IMC M.S., Brad Smith, Eric Weikart, Steve Williams, Clio C. Silman

After 11 years in this industry, I am still amazed at some of the things I see. Case in point below. Thanks to my collegue Steve Wildman for calling this out. As a company that works closely with all core vendors, we receive regular updates on strategic directions, roadmaps, products, service, etc. What we do know is the sky is not falling for those on older #Fiserv cores. That doesn't mean now is not an opportune time to consider core modernization. In fact, regardless of who the core vendor is, this should be a topic of conversation for any #bank or #credit union, especially if you're on what we would consider a zombie core. Cornerstone Advisors #gonzobanker

Accountholder experience is paramount. Its great to see that in Q1 2024, 16 credit unions selected Portico as the technology to support their future. Fiserv is proud to welcome them and committed to the success of our credit unions. Hear more how Portico works with credit unions of all sizes to achieve their goals. #creditunion #banking #fintech #FiservProud #financialservices #software #UIUX #design #UXdesign #UIdesign

The cost of the status quo can no longer be ignored, with nearly-two thirds of #banks and #creditunions citing streamlining workflows for more efficiency as their top cost-saving priority, according to Cornerstone Advisors' 2024 What's Going on in Banking Report. To overcome the industry challenges that stand in the way of their efficiency goals, #Fiserv institutions must identify and leverage the key integrations that enable them to streamline critical processes. In our latest webinar, we discussed priority integration areas for Fiserv customers and their real-world impact. In case you missed it, read our latest blog for key takeaways: https://bit.ly/4gY9sQ3

Consumers don’t go to bank branches for basic services anymore. Instead, their primary motive is guidance for big financial decisions, such as mortgages, car loans and retirement. As a result, banks have rethought their branch strategies to accommodate more financial education. Milissa Tarquini, Head of CX, Design, and Innovation at Truist, will join a panel of retail banking leaders at Bank Customer Experience Summit 2024 who will share tactics to create an impactful financial education program for both regular customers and the financially underserved. #BCXsummit #banking #customerexperience

Have a cashless weekend with UMB's Cardless Withdrawal feature. Whether you accidentally left your debit card at home or ran out of cash while having fun with your friends, do not worry because your digital-first bank, UMB has you covered. Simply launch the Cardless Withdrawal feature using your UMB SpeedApp, follow the easy prompts, and access your cash in minutes at any of our UMB SpeedCash (ATM) machines. #UMBDigiBank #UMBCardless #UMBAdvantage

How important is #data security to customer service and loyalty? #GuidehouseExpert Alexandra Sawyer, recently sat down with Meera D., VP, Consumer and Community Banking (CCB) at JPMorganChase, in a video interview about her professional journey, #digital evolution from a leader’s perspective, the role of data security in enhancing customer experience, and how collaboration with CDOs fosters a data-driven culture. Listen to this insightful conversation here: https://lnkd.in/eYPJ5BNU

Today @ Fiserv Forum - Las Vegas 📅 Savana: Breaking Down the Barriers to a Better Experience Tue. 10/1 from 1:50–2:05 PM (local time) @ the Sponsor Theater in the Experience Center In our session, Savana President & COO, Emily Steele, will share insights on how Savana is helping #Banks and #CreditUnions like yours solve key challenges like: ✔️ Customer experience inconsistencies ✔️ Disparate systems ✔️ The path to modernization #BankingInnovation #Fintech #CustomerExperience

🚨 #FintechAlert - This week, Mastercard unveiled their open banking-powered subscription management tool: Smart Subscriptions. ✨ What does it do? ☑️Unified Hub: Connects all your subscriptions in one place for easy management. ☑️Full Control: Offers capabilities to track, cancel, pause, and resume subscriptions. ☑️Financial Insight: Provides spend analysis, categorization, and personalized offers. With 73% of consumers expressing interest in a subscription management tool and 60% trusting their bank to offer that service, Mastercard responds with a solution that not only simplifies subscription management but also fosters bank loyalty, increases engagement. 💬 Do you feel inspired by this latest news? Follow to stay informed and share your ideas and thoughts in the comments below.👇 #FintechInnovation #Mastercard #OpenBanking #SmartSubscriptions #PersonalFinance #BankingTech