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August 16, 2024 |
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Checking accounts may not be the most glamorous of financial products. But ask any banker or regulator to identify the cornerstone of a strong, stable institution and most will say it is a portfolio of retail checking balances. The inherent stability of FDIC-insured accounts, with low or no interest expense, are highly impactful to an institution’s overall soundness and even better for its bottom line.
Why do credit unions, which serve members from defined fields of membership, spend so much on marketing? On the ABA Banking Journal Podcast, ABA’s Dan Brown and Robert Flock break down the legislative and regulatory history of fields of membership and how the average credit union has more than doubled its "potential membership" since new rules were finalized in 2015.
So-called "digital twins" are dynamic, virtual replicas of complex systems. Organizations often use them for scenario planning because they blend real-world elements with simulations and a constant flow of data, helping evaluate the consequences of different decisions. They serve as strategic planning models across a bank’s people, processes and technology.
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