logicpath Blog | Whoknew

Cash Inventory Management Tip #1 – Addressing Customer Demand

Mar 10, 2020 | Kelly MacConnell

A good inventory system is important to any business’ growth. For most industries, inventory ties up cash figuratively in products sitting on a shelf or in a warehouse. But for financial institutions, branch, ATM, vault and device cash is a financial institution’s inventory.

Topics: Branches and ATMs, Cash Management, Vault Cash

When to Implement Software Refresh Training for your Team

Nov 22, 2019 | Meghan Quinlin

Refresh training is often forgotten about, but if your software is a big part of your day-to-day operational efficiencies in your branch, it is important to implement refresh training to avoid any potential pitfalls in miscommunication of features, capabilities, and even the purpose of the software, as well as ensure the bank or credit union is getting a sufficient return on investment in time and in cost savings.

FOMC Updates

Nov 8, 2019 | Kelly MacConnell

FOMC Updates: Oct. 29-30, 2019 Last week, the Federal Open Market Committee (FOMC) met and approved the previously predicted rate cut, lowering the Fed Funds rate 25 basis points to 1.5% to 1.75%, the third cut of this year. However, officials predict rate cuts to pause the rest of 2019. “We see the current stance of policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook,” said Jerome Powell, Chair of the Federal Rese...

Topics: Regulations, Interest Rates

Cloudy with a Chance of Cash

Jul 19, 2019 | Stephanie Jordan

Last week, $175,000 of cash flew out on to one of Atlanta's busiest interstates after an armored truck carrier's door opened during the middle of their transport. Crazy, right? However, this isn't the first time there's been a roadway accident involving an armored truck and the loss of thousands, and even millions of dollars. There was an incident on the New Jersey Turnpike back in 2004 where the truck flipped over and more the $2 million was lost. Another incident, just last year, resulted in t...

Topics: Cash Management

How the Universal Banker Model Impacts Branch Cash Management

May 16, 2019 | Kelly MacConnell

Research estimates that more than half of banks and credit unions have adopted a universal banker model in their branches as a part of their overall branch transformation strategy. The universal banker model requires financial institutions to evaluate their approach to staffing in branches by hiring employees that are well-versed in the institution’s product and service lines, and can complete multiple tasks that were previously segregated into separate departments and employees. Universal banke...

Topics: Cash Management

Man touching icon and digitally expanding concepts

Branch Cash Management Software + Devices = Successful Branch Transformation

Mar 28, 2019 | logicpath

When people think about branch transformation, they think of the addition of new technology, devices and universal bankers or the restructuring of the branch layout. However, there is one piece of technology that is neglected in a branch transformation strategy, or is put off until a later date: branch cash management software.

Topics: Cash Management, Branch Transformation

Branch Cash Management FAQ

Feb 28, 2019 | Kelly MacConnell

With rates continuing to rise, financial institutions are looking for sources of idle assets. Most banks and credit unions first turn to Deposit Reclassification, which recovers low earning Fed balances by reclassifying transaction accounts into savings accounts. However, I want to talk about another source financial institutions can use to increase income: branch, ATM and vault cash inventory.

Topics: Cash Management

Top FAQ on Deposit Reclassification - Part 2

Jan 10, 2019 | Teresa Romero

In our blog, “Top 3 FAQ on Deposit Reclassification,” my colleague covered frequently asked questions regarding logicpath’s retail sweep program, Deposit Reclassification; including the legality of the program, client impact, and what sub-accounting means, but let’s discuss some more common questions I get about Deposit Reclassification. In this blog, I’ll discuss what threshold percentages are, as well as how Deposit Reclassification impacts call reporting and peer-to-peer review.

Topics: Deposit Reclassification

What is the Impact of Disclosure with Deposit Reclassification?

Dec 20, 2018 | logicpath

Most financial institutions’ terms and conditions require notification to current customers about any changes to their account, including the reclassifying of funds into savings and checking sub-accounts, also known as Deposit Reclassification.

Topics: Deposit Reclassification

Top Three Features to Look for in a Retail Sweep Program

Nov 29, 2018 | Meghan Quinlin

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...

Topics: Deposit Reclassification