Jennifer Bleau

You don’t need to be big to take advantage of big data. As a Comerica Bank small business customer, you can tap into small business competitive market research and compare how you size up to your competition - for FREE. Opportunity happens here: comerica.com/prosper Member FDIC. #ComericaBank #Michigan #SmallBusinessResources

2

Here’s what has kept Comerica Bank thriving for 175 years… 💪 - Putting our customers and colleagues first - Modeling strong credit fundamentals - Offering the best of both worlds for clients big and small - Positioning ourselves in the right markets with the right model Learn more about the principles that have helped us grow from a small Detroit savings and loan to one of the most respected banks in America: comerica.com/about-us Member FDIC. #ComericaBank #RaiseYourExpectations #BusinessModel #CustomersFirst

2

This week in exciting #OpenBanking news: last Wednesday, the Consumer Financial Protection Bureau (CFPB) announced a new rule explaining the qualifications and attributes a standard setting body will need to be recognized by the CFPB. This is significant because recognized industry standard setting bodies will be able to issue standards to companies so they can comply with the CFPB’s upcoming Personal Financial Data Rights Rule.   “Industry standards can be weaponized by dominant firms in order to maintain their market position, undermining competition for all,” said CFPB Director Rohit Chopra in the CFPB's press release. “Today’s rule will prevent these firms from rigging standards in their favor by identifying attributes the CFPB will use to recognize standard setters.”   To gain recognition from the CFPB, a standard setting body will need to display: ·  Openness ·  Transparency ·  Balanced decision-making ·  Consensus ·  Due process and appeals It is widely expected that the FDX API from the Financial Data Exchange will be declared as official standard, based on its existing market dominance. However, the CFPB has made it clear that FDX should not take this for granted, and with the release of these guidelines, they have set the bar for selection quite high, level playing field in the open banking ecosystem.   Read more in the release here: https://bit.ly/3KydorY

3

Credit unions: Your member experience requires constant attention and vigilance. Make sure that you: - Regularly assess your member journey across all channels. - Define your brand thoroughly for a consistent experience. - Create a journey map to identify all touchpoints. - Conduct monthly trainings to keep everyone aligned. As you map out your customer journey, don't forget your member authentication processes. Are outdated methods like one-time passcodes or knowledge-based questions frustrating your members? If so, IDgo offers a seamless, passwordless solution that not only enhances member experience, but also bolsters fraud protection. #CreditUnions #MemberExperience #Authentication

5

Could you use up to $750 for your business? You’ve got it—when you open an Associated Bank business checking account! Follow these simple steps and get growing now! http://spr.ly/6040e8Tso

5

New CFPB Rule Extends Credit Card Protections to Buy Now, Pay Later Loans The Consumer Financial Protection Bureau (CFPB) has issued a new rule ensuring that “buy now, pay later” (BNPL) loans will soon offer the same protections as credit card users. This revised guidance mandates that BNPL providers, such as Affirm and Klarna, must issue prompt refunds on returns, provide comprehensive billing statements, and allow repayment pauses amid charge disputes. While major BNPL lenders largely support the ruling, they emphasize that BNPL plans and credit cards are distinct products that require different protections. This change, set to take effect in two months under the Truth in Lending Act, will not alter how BNPL companies report to credit bureaus. #ConsumerProtection #BNPL #CFPB #Finance #Affirm #Klarna #FinancialRegulation

1

Join Lori Anello, Chief Information Security Officer at Fifth Third Bank, for a virtual webinar and discussion on Wednesday, June 5. Learn about the current landscape for cybersecurity threats to small businesses and get tips on how to protect your company, including enhanced employee education. Register today: http://go.53.com/6048d8pWp #cybersecurity #businessbanking

7

1 Comment

"It's all about growing the relationship." That is the brand statement for SMC Marketing. It's on the back of my business card and at the bottom of my emails. I am re-posting a 2020 article from Stuart Harle of the Retail Banking Institute describing how important it is for a bank to develop relationships with its customers Banks can signal their willingness to develop relationships that demonstrate they understand what their customers need. Banks respond with both product and relationship solutions: bank products that are relevant to their customers' requirements and bank relationships that demonstrate they understand and care. This relationship between the bank and its customers was the groundwork for the Customer Recognition and Retention Program we designed 20 years ago. It is the principle for the customer engagement and retention programs we have implemented for retail and small business banking, investment services and brokerage, private banking and wealth management, and for real estate and insurance. #bankrelationships #customerexperience #banks #smallbusinessbanking #investmentservices #brokerage #privatebanking #insurance #residentialrealestate

10

7 Comments

Packed house at the America's Credit Unions Lending coucil as we hear about #embeddedfinance, #syntheticfraud, equitable and inclusive reach to the #underbanked, and small dollar #lending and member segmentation and treatment with #rpa - and it is still not noon!!! Great takeaways and some stats: - Embedded finance is a gateway to GenZ borrowers - According to Barry Kirby from Union Credit about 70% of #creditunions spend most of their marketing budget on radio, TV and print while on 7% of #genz engage in those channels - Over 50% of all credit unions have lost over $1M in fraud during 2023 - Baker Hill’s partner in addressing #fraud, Alloy, is calling out more and more need for #deviceauthentication and a waterfall approach to addressing synthetic fraud - Sara Seguin fromAlloy announced it is also launching a fraud solution to support embedded financing - any doubt that embedded is got?? - Zest AI estimates that over $16T has been lost in the U.S. #economy due to not having an equitable approach to the underserved markets - I love how Mike de Vere’s team is building diversity around teams, geographic data and being purposefu around building a unique and not national one size fits all approach - There are vendors selling #snakeoil because they are not explaining the #AI in decisioning. They have to maintain explainability in the AI and be able to have adverse action come out of the #artificialintelligence and not just the credit agency data. If your provider cannot do that, you should just ask them when the Consumer Financial Protection Bureau will be visiting them. - #roboticprocessautomation from CU NextGen’s custom services is amazing for those CUs that have high volume, heavily regulated, and colmplex processes. Also big shout out to Jovia Financial Credit Union for being called out TWICE as a case study during this session. They are doing cool things there. #innovation #memberbusinesslending Cary Shumway, Julie Lind, Jeff Forsgren, Scott Giltner, Sarah Horten, Stacie Breitung, CPA, MBA , Meritrust Credit Union, Union Square Credit Union #peoplehelpingpeople #wherecanwegonext #memberexperience Zane Gardner, Mazuma Credit Union, Michael A. Dill, Royal Credit Union, Dan Edgerton, CLARITY CREDIT UNION, Sarah Furman, Heritage Family Credit Union, Cyprus Federal Credit Union, Garrett Laws Granite Credit Union

72

2 Comments

Sharing the top 5 most-clicked articles of 2024 that I wrote for Webster First Federal Credit Union. They were: 5. Protect yourself from fraud: How to identify phone scams https://ow.ly/XEUP50Uzg3c 4. What is a DBA and why might your business need one? https://ow.ly/YouG50Uzg6K 3. How much does it cost to build a house in Massachusetts? https://ow.ly/TA7H50Uzg9H 2. Massachusetts Fall Festivals: 13 best in 2024 https://ow.ly/4cSq50UzgaN 1. For Business Owners: New Beneficial Ownership Reporting Rule 2024 https://ow.ly/J7FP50Uzgfs What insights does this data provide? Some of these were originally published in 2023 and are still performing well into this year (that's good keyword optimization!). Updating content to be timely can continue the success of an article. Our Massachusetts Fall Festivals article was updated with more festivals and dates for 2024. Every year since 2022, when it was originally published, we see a huge spike in clicks and impressions during the fall! Additionally, it showcases a diverse range of topics that our audience is interested in, from fraud and security, to business ownership tips, and local Massachusetts content. It's almost like - Strength, Service, and Local Authenticity - look at that, the credit union's 3 core values! #contentmarketing #blog #writer

12

Banks and credit unions (CUs) share overlapping goals, but their approaches reflect their differences. Building long-term member loyalty has been a strength of CUs, but expanding into new relationships can be tough in today’s competitive environment. It requires fresh strategies. Union Credit, a California-based startup founded nearly two years ago, aims to rewrite that narrative, shares Dave Buerger, CEO and co-founder of Union Credit. To know how Union Credit enables CUs to turn initial loan interactions into a gateway for deeper banking relationships, read the full story: https://t.ly/RPijj #CreditUnions #Loans #Marketplace

15

Collections with a Heartbeat 💙: The Eltropy-Lexop Revolution!  Amir Tajkarimi, has joined forces with Eltropy to flip the script on loan repayments and collections for credit unions and community banks. No more cold collection calls and transactional dread – it's will be authentic, member-first connections and smooth payment experiences. Want the inside scoop from Amir? Read it here: https://lnkd.in/gRm3PBd8 #Eltropy #Lexop #Empowerment #CollectionsReimagined #CreditUnions #CommunityBanks #MemberFirst #FinancialInnovation #TechForGood #TransformCollections #CustomerExperience #PaymentSolutions

45

2 Comments

The number of community FIs continues to shrink as megabanks and big regionals continue to expand their footprints into smaller markets. If you're a #communitybank or #creditunion looking to differentiate and compete against the big players and your peers, while also boosting primacy and organic growth, maybe it's time to find out more about BaZing. #banks #banking #noninterestincome #creditunions #communitybanking

5