April 16, 2014

Bank Services Need Branding and Differentiation

With variations in products, offers, services, location, quality and ease of use, banks focus on finding and serving a niche within a broader market. As retail and commercial customers access and manage more products via digital delivery, differentiation becomes even more critical. Most important, however, is the recognition that customer experience is the focal point.

Credit Counseling Nonprofit Releases Parent's Guide to Teaching Money Management Skills

National financial education nonprofit American Consumer Credit Counseling today launched a parent's guide to teaching children about money to help youth of all ages, from kindergarten through high school, understand the basics of money management issues including saving, credit, and the value of a dollar.

EMV Migration Forum Releases Revised Standardized Terms for EMV Chip Technology

The EMV Migration Forum has released a new version of "Standardization of Terminology," a glossary designed to encourage consistency and accuracy in communications about chip technology by payments players and the media.

Fed Survey: Consumer Expectations of Labor Market, Household Finances Have Improved

The Federal Reserve Bank of New York has released results from its monthly Survey of Consumer Expectations, which provides insight into Americans' views on inflation, prices, the labor market and household finance. Consumer inflation expectations rose slightly in March at both the one-year and the three-year ahead horizon, whereas home price change expectations declined slightly.

Bitcoin Is Property Not Currency in Tax System: IRS

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Bank of the West's Quick Balance Mobile App Wins Monarch Innovation Award for Most Innovative Product in Business Banking

Bank of the West has announced that its Quick Balance mobile app won the Monarch Innovation Award for Most Innovative 2014 Product/Feature. The award was presented by Barlow Research Associates during a Webcast held earlier today. The annual award is presented to financial institutions and industry partners in recognition of business to business innovations.

Urban Trust Bank Forms Banking Partnership With Seminole Work Opportunity Program

Urban Trust Bank (UTB) FSB, serving Orlando and Jacksonville, Fla., has entered into a banking partnership with Seminole Work Opportunity Program (SWOP). SWOP is a private 501(c)(3) organization that provides vocational, educational, and community-based employment training to adults in Seminole County with developmental disabilities by offering local businesses a variety of services.

ACH Volume Grows to Nearly 22 Billion Payments in 2013

In 2013, ACH Network volume grew to almost 22 billion electronic payments[1], an increase of 4 percent over 2012 volume, according to new statistics released by NACHA - The Electronic Payments Association. A total of $38.7 trillion was transferred over the ACH Network during 2013, increasing almost 5 percent compared to 2012, supporting a wide variety of consumer, business and government payments.

Cummins Allison