Craig Pawling

We're proud to be a #CDFI, and join the other CDFI's and Responsible Lenders across the country in making real change! Community Development Finance Institutions (CDFIs) have turned ripples of finance into waves of change for individuals, businesses and social enterprises across the UK.  They provided opportunity and built resilience for disadvantaged communities and those excluded from mainstream finance. In 2023, lending from CDFI's hit a record high of £287 million - and CDFIs now operate at 31 times the scale they did in 2003, when the sector lent £9.2 million. This growth reflects how CDFI's fill widening needs seen for the right finance at the right time.  Here’s what CDFIs achieved in 2023: - Supported 4,546 start-ups and SMEs with £102m of loans.  - 12,135 jobs were created or safeguarded.  - 99% of businesses had been declined by another lender.  - 371 social enterprises were supported with £119m of loans.   - Households saved £29m in interest repayments compared to high-cost lenders.   - CDFIs lent £66m to 85,208 individuals.  - CDFIs identified a total of £601m of unclaimed benefits for 143,050 customers. Read more about the impact of CDFIs’, plus lots of customer stories in: https://lnkd.in/eWSFydQ2 #RipplesToWaves #ResponsibleFinance #CDFIs Responsible Finance 👏

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For the first time, RDFIs will have a defined role in monitoring ACH payments they receive. This significant development, approved by Nacha members, aims to combat fraud, including business email compromise (BEC), associated with credit-push payments. As Jane Larimer, Nacha President and CEO, points out, "All participants in the ACH Network have a part to play in reducing the incidence of fraud and recovering when fraud has occurred." Learn more in our April 2024 Innovating Payments Executive Summary— Nacha Rules Take Aim at Credit-Push Fraud: https://lnkd.in/ezsgudgX. Plan to join Sean Carter, AAP, APRP, Mark J. Dixon, CTP, AAP, APRP, NCP, Mary Morrison, AAP, APRP, NCP, CAMS, and Patty Presta for a comprehensive two-part series, "Diving Into the Operation Impact of the New ACH Rules," on May 31 and June 07, 2024, where they will delve into the implications of these new rules, offering insights on implementation, procedures, policy updates, audits, risk assessments, and organizational engagement. 🔍 Curious about engaging with third-party providers? 📝 Wondering about new procedures and policy updates? 🤔 Unsure about ACH audits or risk assessments? Get the answers by registering for Diving Into the Operation Impact of the New ACH Rules: https://lnkd.in/e7y73DN2 #ACH #FinancialServices #FraudPrevention #RegulatoryCompliance #ProfessionalDevelopment

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About a year after the FedNow service launched, financial institutions are focusing on delivering customer value through overlay services like Request for Payments (RfP) built on instant payment systems. This tool remains underutilized by many banks, with only 39% fully recognizing its high demand, resulting in missed opportunities. Meanwhile, fintechs are ahead of the game, offering streamlined invoicing and QR-based bill payments to attract business clients. It’s time for banks to catch up and harness the potential of RfP. Find out how in our latest blog. Why Banks Can't Afford to Ignore Request for Payment - Finzly https://hubs.la/Q02DSqzt0

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Exploring the realm of ACH payments is like peering into the intricate gears of modern finance—a complex system meticulously designed for efficiency and security. Discover how ACH payments streamline transactions, reduce costs, and enhance security in the digital age. Unravel the intricacies of ACH payments in this informative deep dive. #Finance #ACHPayments #DigitalPayments #Efficiency #Security https://lnkd.in/dfENqjVa

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We've crunched some numbers and the results were even beyond our expectations... 🚀 Pulsate's most active users surpassed their credit union peers by more than 15X when it comes to year-over-year growth in "Average Member Relationship"! If your FI is struggling to keep your products top of mind in your consumers' moment of need, book a demo to see how Pulsate can help. [Link in the comments] #ConsumerEngagement #MemberEngagement #DigitalEngagement 

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🆕 In the June edition of the 2024 Credit Union Innovation Readiness Index, a PYMNTS Intelligence and Velera collaboration, we examine how CUs can reap the benefits of digital innovation to gain members and reduce churn. ➡️ Read the article and download the report: https://bit.ly/3VnDJxZ #CreditUnions #DigitalInnovation #WeAreVelera

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Dive into the latest episode of Nacha's "Payments SmartCast" where we discuss the state of bank account validation in the ACH space with Amy Morris, Senior Director, ACH Network Rules at Nacha, and our very own James Cook, VP of Product Management. Discover how advancements in validation services are enhancing fraud prevention and improving user experience. Listen now: https://hubs.la/Q02sGFdt0

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As we continue our daily series this week of tailored AI prompt templates for credit unions, today’s focus is on marketing teams. All 5 of today’s AI prompts are designed to help your credit union’s marketers quickly engage members, sharpen campaigns, and boost conversion rates. This first template will help you ideate sales copy for any purpose using the Problem-Agitate-Solution (PAS) formula. --- You are an expert copywriter for [Insert credit union name] with decades of experience in the credit union industry writing high quality sales copy that converts. Your task is to write a [Insert desired length in words or paragraphs] marketing [insert desired format (ex. email, webpage, etc.] to promote [insert product/service] to [Insert target audience]. You should write this copy with a tone that is [Insert desired tone. Examples: Excited and engaging, Serious and informative, Heartfelt and community-focused, etc.] Use the Problem-Agitate-Solution copywriting formula: Step 1 Problem: Clearly describe a significant problem or pain point the target audience faces that is relevant to the product/service. Step 2 Agitate: Expand on why this problem is so frustrating, costly or painful for the reader. Make them feel the consequences of inaction. Step 3 Solution: Introduce [insert product/service] as the ideal solution that will eliminate their problem and improve their situation. Focus on the key benefits and outcomes. Call-to-Action: End with a clear call-to-action to [Insert desired action] --- Check out all five AI prompts for credit union marketers here: https://lnkd.in/gq9QxRUx Subscribe to our newsletter to get one AI prompt tailored for credit unions delivered to your inbox weekly: https://lnkd.in/gqjzJ3Dv

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Richard Carter, CEO of Lenvi, joined us at FTT Lending 3.0 to share his views, alongside some fellow industry leaders, of the lending ecosystem and some of the key macro challenges facing providers. Richard pointed to some of the topics debated, which included access to finance for the underserved, business finance and the ongoing uncertainty in the economic environment. Watch the full interview to find out more and read the blog HERE: https://bit.ly/3Qkr5xJ #FTTChats #FTTLending #FintechTalents

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This is an interesting article by the Credit Union Times - #creditunions face a wealth of innovation opportunities, spurred by #fintech challengers and emerging technologies. Navigating these choices effectively requires careful consideration and guidance on selecting solutions and fintech partners.

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It's a difficult thing in the digital world for banks to attract young consumers — and garner the loyalty of kids while they're young. U.S. Bank has found a promising solution through a partnership with fintech Greenlight. By integrating Greenlight's accounts and services into its own mobile banking app, U.S. Bank aims to attract the next generation of customers while providing valuable financial education and practical money management experience for kids The partnership addresses a critical gap in traditional banking offerings: the lack of transaction accounts for children. With Greenlight's debit card and money app, kids as young as 10 can learn to handle money and transact cashlessly, all while being subject to parental oversight. Parents can set spending limits, monitor transactions, and establish savings goals for their children, fostering financial responsibility from an early age. U.S. Bank sees two key benefits in this partnership. First, it differentiates the bank's "Bank Smartly" accounts, potentially attracting and retaining depositors who value financial education for their children. Second, by engaging with kids through Greenlight, the bank hopes to establish itself as the go-to institution when these young customers are ready for their first checking account. Greenlight's Brandon Horne, general manager of partnerships, emphasizes that the company's bank and credit union partnerships are an additional channel for growth, not a strategic shift. By embedding the parental experience in the bank's app, Greenlight gives financial institutions more ownership in the customer experience and facilitates a smooth transition as kids approach adulthood. Learn more in the full article by Steve Cocheo:

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What key roles will core banking services providers play as instant payments gain momentum in the U.S.? A Payments Briefing by Kansas City Fed's Julián Alcázar, Sam Baird and Fumiko Hayashi explores this question. You can read the article here: https://bit.ly/3JSNK0M #Payments #FederalReserve #FinTech #Banks #Banking #Finance

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As #creditunions assemble their ideal technology stack, how can they avoid gaps and overlaps? Brian Kaas shares how #fintech partnerships can help credit unions fill in any gaps, including providing inclusive solutions, protecting their institution and membership, and more. Check out this month’s Hippodrome Experts Panel by Finopotamus: https://bit.ly/43PPlNM

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Small Business Lending Platform JUDI.AI Inks a Trio of New Credit Union Customers What do Apple Federal Credit Union, Carter Credit Union, and SCE Credit Union all have in common? All three financial institutions announced this month that they are teaming up with small business lending platform JUDI.AI. In a series of blog posts at the company’s website, JUDI.AI’s Director of Marketing Kyle Thom welcomed the three credit unions to what he called “our growing group of 35+ forward-thinking community lenders who are on a mission to reinvent small business lending.” JUDI.AI offers credit unions and community banks an alternative approach to helping small and medium sized businesses secure the funding they need. The company enables financial institutions to digitally transform their credit decisioning and underwriting operations to assess the financial health of their small business customers and members on a continuous basis. In addition to instant cash flow analysis, automated underwriting, continuous monitoring, and real-time portfolio reporting, JUDI.AI adds automated analysis of current banking data to supplement traditional financial data sources such as credit scores and financial statements. Here’s a look at JUDI’s new partners: Apple Federal Credit Union. $4.3 billion in assets. 240,000+ members, Twenty-one locations across northern Virginia. Carter Credit Union. $722 million in assets. 55,000+ members. Eleven locations in Louisiana, Arkansas, and Fort Worth, Texas. SCU Credit Union. $1.1 billion in assets. 67,000+ members. Eight locations in southern California and southern Nevada. Founded in 2016 and headquartered in Vancouver, British Colombia, Canada, JUDI.AI made its Finovate debut at our all-digital fintech conference, FinovateWest 2020. Most recently, the company demoed its technology at FinovateSpring 2022. At the event, Thom and JUDI.AI Chief Product Officer Su Ning Strube, demonstrated how the platform enables lenders to process 50% more SME loan applications without committing any additional resources, and approve 20% more loans with no added risk. “What makes JUDI.AI unique in that we identify cash flow metrics that are predictive and correlated to future defaults, and we combine that information in our proprietary small business model with traditional credit scores to calculate the creditworthiness of any borrower,” Su Ning Strube explained from the Finovate stage. In addition to the credit unions signed in April, JUDI.AI this year has also welcomed Canadian alternative lender Glasslake Funding and Hawaii’s Kauai Federal Credit Union to its client roster. Kauai FCU is the first and only certified Community Development Financial Institution (CDFI) on the island of Kauai. Photo by Ketut Subiyanto The post Small Business Lending Platform JUDI.AI Inks a Trio of New Credit Union Customers appeared first on Finovate. https://lnkd.in/g2vPSmXi...

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Unlock the power of Open Banking and navigate the changing landscape at the IPA's Compliance Boot Camp! Changes are coming to the payments industry, driven by the CFPB's proposed rule implementing Section 1033 of the Dodd-Frank Act. This groundbreaking rule will require financial institutions to provide consumers with open access to their account information. Join our "The Future of Open Banking" session and gain insights from payments expert Brian Montgomery of Pillsbury Winthrop Shaw Pittman LLP. We'll delve into: ▶ The implications of the CFPB's proposal on Open Banking ▶ Practical compliance strategies to stay ahead of the curve ▶ How to identify opportunities and navigate challenges in this transformative era Why Attend? ▶ Gain essential knowledge on the latest Open Banking regulations ▶ Develop practical compliance strategies for your organization ▶ Stay competitive and navigate the evolving financial landscape ▶ Don't miss this chance to prepare your organization for the future of Open Banking! Register now to secure your spot at the Compliance Boot Camp! https://lnkd.in/eS2c-xrX #OpenBanking #Compliance #Payments #CFPB #FinancialRegulation #FutureofFinance

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