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Teresa Romero

Teresa Romero

Recent Posts

Black and blue question marks

Top FAQ on Deposit Reclassification - Part 2

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.

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Topics: Deposit Reclassification

Fintech lightbulb-1

What is the Impact of Fintech Charters on Community Banks and Credit Unions?

On July 31, 2018 the Office of the Comptroller of the Currency (OCC) announced the approval of the national fintech charter. This announcement followed the Treasury Department’s report about how non-banks, like fintechs, should be regulated. The OCC’s decision is based on government efforts to promote economic growth, and support innovation that improves financial services to customers, businesses and communities.

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Topics: Regulations, FinTech

Phone with apps-1

Top 4 Financial Apps Customers Love

The way your customers approach banking is drastically changing, and it’s no secret that fintechs continue to rise in popularity, but they don't have to be the bad guys. In fact, many banks and credit unions are leveraging fintech technology and partnerships to help create a better, more customized experience for customers. In a recent article from Forbes.com, the author, Martin Haering, analyzed the many variables of the banking environment and came to the following conclusion:

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Man chasing flying money

The Fear of “Running Out of Cash” is an Illusion

Every responsible branch manager strives to satisfy his/her customers’ banking needs, especially when it comes to their demands for cash. Not being able to fulfill a customer’s request for cash at a bank or credit union branch is probably every head teller’s nightmare! Every banker wants to have more-than-adequate cash, and is pretty fearful of running out of cash (total cash holdings at the branch; not to be confused with cash flow at the branch). This fear, however, is an illusion that leads t...

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Topics: Vault Cash, Cash Usage

Top Four Underlying Costs of Branch Cash Management

Cash is the lifeblood of financial institutions (FIs) and our economy, but when a bank or credit union carries it in excess, cash can end up being an idle, non-earning and deflationary asset, with a high cost of carry. While FIs strive to minimize reserve requirements, they must also optimize cash inventory levels and reduce the following four underlying costs of cash related to poor branch branch cash management and logistics: 

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Top 3 FAQ on Deposit Reclassification

Although it’s an established process, many financial institutions (FIs) have questions about Deposit Reclassification (AKA, retail sweep programs). Even though the program was permitted by the Federal Reserve in 1994; when most hear of Deposit Reclassification or retail sweep programs - it seems too good to be true. Our family of companies has pioneered Deposit Reclassification and forged the way for this process to be a tried and true solution for banks and credit unions. To clear up some commo...

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Topics: Deposit Reclassification

money in a mouse trap.jpg

The Biggest Pitfall of Branch Cash Management - Managing Up to Limits

  Financial institutions (FIs), such as banks and credit unions, set limits on the maximum amount of cash they can carry in their branches and ATMs. These limits reflect cash needed to maintain insurability, regulatory compliance and risk management, and to meet fluctuating customer cash withdrawals. And that’s all well and good. But most cash is managed up to this maximum cash limit, and this is the biggest pitfall of branch cash management today.

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Topics: Cash Limits, Cash Management, Vault Cash