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Meghan Quinlin

Meghan Quinlin

Recent Posts

Sweeping money

Top Three Features to Look for in a Retail Sweep Program

Recently, my colleague discussed the top features to look for in a branch cash management software solution. This week, I want to discuss the features you should look for in a retail sweep program, also known as Deposit Reclassification. Retail sweep programs help banks and credit unions recover their Federal Reserve balances due to reserve requirements, through reclassifying transaction accounts as savings accounts. In today’s rising rate environment, reclaiming low earning funds allows an inst...

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Topics: Deposit Reclassification

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Inventory Methods You can Apply to Cash

A good inventory system is important to a business’ growth. For most industries, inventory ties up cash figuratively; but for financial institutions, branch, ATM, vault and device cash is an FI’s inventory. Like any other business, not enough or too much inventory can be costly to the business and inhibit growth.

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Loan approval gauge

Can Banks Give Payday Loans A Run For Their Money?

Payday loans are very, very expensive, and often trap consumers in a vicious cycle of debt that is hard to break. The sad part is that Americans at the bottom of the financial ladder, folks who barely get by paycheck to paycheck, have no option but to resort to these loans because banks and credit unions have not offered small short-term loans to consumers since the recession. Hence, a recent bulletin from the Office of the Comptroller of the Currency (OCC) was welcome news for cash-strapped con...

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Topics: Banking Products

cash being swept

When Should I Implement Deposit Reclassification?

  Deposit Reclassification, commonly called a retail sweep program, helps banks and credit unions reduce and even eliminate reserve balances; allowing them to deploy the freed-up funds for profitable lending and investment purposes. A bank or credit union’s motivation to implement deposit reclassification depends on costs versus benefits. Implementing Deposit Reclassification makes sense at all times, but is even more important when interest rates are rising and expected to continue to rise, whe...

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Topics: Deposit Reclassification, Federal Reserve Balance

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FinTechs – No Longer Competitors, but Partners

Today, there are a slew of fresh, young financial technology firms – or FinTechs for short - that are leveraging technology, the Internet and smartphone apps to address inefficiencies across the spectrum of financial services. These FinTechs are well-financed by venture capitalists, private equity firms and forward-looking FIs (financial institutions) who see the enormous profit potential of innovation and disruption in the financial sector, and want a slice of it. So, should financial instituti...

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Topics: Technology, FinTech

Top 3 Questions to Ask Before Creating a Branch Transformation Strategy

New generations are demanding a wide range of mobile and web-enabled products and services in the banking and financial services sector. Self-service and new digital offerings have been well received by millennials and Generation-Xers (who, together, make up America’s largest demographic) and have pushed financial institutions (FIs) of all sizes towards transforming their business models to better compete, and survive the digital age.

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Top Three Challenges & Solutions for Cash Management

With interest rates poised to rise in the coming quarters, financial institutions (FIs) must seriously undertake cash management initiatives that identify and minimize non-earning assets (such as un-needed or excess cash in ATMs, cash dispensing machines, teller drawers and vaults), optimize cash inventory and redeploy excess cash profitably through loans and investments. While most FIs “think” they manage cash efficiently, data shows that cash is often managed up - to limits, not down - to usag...

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Topics: Vault Cash, Cash Limits, Cash Management, Cash Usage

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What is C3 Financial and How Do You Benefit?

Have you ever wondered what tools and solutions are out there to help manage branch, ATM, device and vault cash? Managing cash internally, especially when money touches so many different hands, can be difficult and unruly to handle. There has to be a better way than cash position reports and spreadsheets.

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Topics: Analytics, Cash Management, Cash Limits