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Most Bankers Expect to Use Third-Party Vendors, Advisors for CECL

October 30 — A majority of bankers expect their financial institutions to use third-party vendors or a combination of advisors and third-party vendors to help them implement the Current Expected Credit Loss model, or CECL, according to an informal poll released by Sageworks and MST.

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3 Ways Financial Institutions Can Use Event ATMs to Increase Brand Awareness

By Yonas Marcos

Branding is about much more than just a company logo; it is about communication with consumers and the surrounding community. Brand reflects how we differentiate from competitors and startups. Consequently, brand awareness is one of the most vital points of marketing strategy. According to research, consumers that recognize a brand are more likely to see it as a familiar, dependable, safe option.

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Consumers Can Now Purchase Bitcoin at ATMs

October 15 — Boston, Ma.-based LibertyX and Genmega, Hayward, Calif., announced the launch of America’s first debit Bitcoin ATM. Consumers using these ATMs can use their debit cards to purchase Bitcoin at up to 100,000 ATMs in the U.S. Through this partnership, any Genmega ATM can enable the LibertyX capability and start selling Bitcoin to consumers via a simple update process.

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CSI Launches API Platform to Build Custom Tech

Paducah, Ky. // www.csiweb.com 

End-to-end financial tech solutions company Computer Services Inc. has introduced CSIbridge, an open application programming interface platform designed to give banks the ability to build custom technology integrations with the goals of maximizing efficiency and enhancing competitiveness.

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Manage Your Overdraft Service — In the Cloud

Fort Lauderdale Fla. // www.myvelocity.com 

Through the acquisition of CourtesyConnect/CourtesyLimit, an automated overdraft system provided by CourtesyCloud Management Solutions, LLC (a BSG Financial Group company), Velocity Solutions, LLC now provides a cloud-based courtesy overdraft management system. The software and processes allow financial institutions of all sizes to automate their overdraft service and manage it as a line of business, hoping to enhance account holder experience, compliance and revenue. CourtesyLimit, a risk-management component, provides data analysis capabilities to create overdraft limits tailored to an individual’s repayment capacity.

“This acquisition allows us to provide our overdraft solutions to a broader base of financial institutions, including those who are seeking a cloud-based solution,” said Christopher Leonard, CEO of Velocity. “We are better equipped than ever to help financial institutions of all sizes achieve the optimal balance of revenue, service and compliance — the three essential pillars of a complete and proactive overdraft management system.”

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