logicpath Blog | Whoknew

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

FOMC Updates

Mar 21, 2019 | Kelly MacConnell

FOMC Updates: March 19-20, 2019 Yesterday, the Federal Open Market Committee (FOMC) met to discuss current and future economic conditions. It was previously predicted that there would be two rate hikes in 2019, but after their meeting it was reported that the rate will remain unchanged and continue to hold at 2.25-2.5 percent throughout the year. Fed chairman, Jerome Powell, assures us that the economy is in a good place. However, growth is slowing due to recent developments abroad, which led th...

Topics: Regulations, Interest Rates

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

Top Five Features to Look for in Branch and ATM Cash Management Software

Nov 1, 2018 | Kelly MacConnell

After the third Fed funds rate increase of the year, financial institutions should consider focusing on branch cash management initiatives that identify and minimize non-interest earning assets through optimizing cash inventory to ultimately reinvest it into lending and other investments. One of the most cost effective and efficient ways for a bank or credit union to reduce excess cash is by using a software solution. However, many institutions don’t know where to start when looking for a branch...

Topics: Cash Management

Why is Hacking on the Rise?

Oct 18, 2018 | Douglas Ceto

It’s no secret that privacy is a huge issue. It seems that nowadays we can’t go a week without seeing another data breach in the news. The most recent breach was Facebook, who recently got hacked and more than 50 million users were impacted. In 2017, we hit a new record high of 1,579 breaches, an upturn of 44.7 percent, which means we’re seeing multiple breaches per week, if not per day.

Topics: Trends