Our blog is dedicated to sharing our thoughts and expertise about the banking industry and how you can experience quantifiable results for your financial institution. We invite you to hear the perspectives from our banking professionals through our posts.
As we continue to grow and evolve in response to a global pandemic, financial institutions are accepting that the 2021 world of banking will look much different from that of 2019. The good news is that experts are predicting a relatively healthy rebound from the first half of 2020, but they are also warning that […]
Customer behavior has changed and will continue to change during the course of the COVID-19 pandemic. The longer the pandemic lasts, the more significant the behavior change is likely to be. Over the last several weeks, we’ve been connecting with many of our community financial institution clients. Many community financial institutions are experiencing customer limit […]
This blog is a “how to” follow up to Friendly Fraud: Legitimate Dispute or Just Bad Scallops? Debit card chargebacks are for your customer’s benefit to protect them from unfair merchant practices, but they are increasingly being misused by consumers. This misuse is referred to as “friendly fraud.” Do your customer-facing staff understand the difference […]
Can we talk about “chargebacks?” When a cardholder contacts a financial institution about a non-authorized transaction, it’s called a “dispute.” A dispute triggers a multi-step (and very costly) back-office procedure referred to as a “chargeback.” Your processor charges as much as $35 for this chargeback to inform you that the merchant denied the refund for […]
As the article title insinuates, there are many examples of the two sides of any interchange story – sale vs. purchase, interchange paid vs. interchange earned (aka acquiring vs. issuing OR expense vs. income), SIG vs. PIN, card-present vs. card-not-present. The list is nearly infinite. For our purposes though, let’s focus on an age-old example of the two basic sides to every story.
Many financial institutions provide ATMs at each branch location because that’s the way it’s always been done. However, is this profitable for the financial institution and how would you know? ATMs first appeared in the late 1960s, and by 2015, there were nearly 3.5 million ATMs installed worldwide, according to the ATM Industry Association (ATMIA). They […]
Profit Resources (PRI) has helped many community institutions get their piece of the pie. Do not allow your processor to make your card brand decision for you... it will cost you more than you know.
You are suffering from PHOBIA if you have a card brand loyalty agreement negotiated by your processor for you. If so, it may be time to handle your own brand incentive agreement.
