Like the rest of today’s modern society, technology has had a profound impact on the daily operations of community banks. Whereas many transactions were paper based years ago, a great majority are now handled electronically. In addition, bank customers expect their financial institutions to offer all of the modern conveniences that technology can provide such as online banking, ACH transactions and mobile wallet. While most community banks have implemented some amount of technology into their daily business activities, the level of sophistication can vary from one institution to another.
The managing partners at Artisan Advisors have many years of experience in the ever evolving sector of financial technology. We have helped many community banks not only assess their current utilization of electronic financial software, but we can also offer valuable consultation on the development of a strategy moving forward that aligns with a bank’s objectives and vision.
Here are some of the services we have provided in the area of community banking payment systems.
Comprehensive assessment of the community bank’s current payment systems.
Evaluation of adherence to regulatory requirements such as Regulation E, PCI compliance, NACHA operating rules, Federal Reserve regulations and more.
Determination of the current fraud protection measures currently in place and an enhanced understanding of the fraud compliant process. We can also provide expert recommendations on how to improve and strengthen a bank’s fraud protection strategies.
Consultation of the payment systems, technology and card processing platforms available in the industry today and how these can be utilized to meet a community bank’s short and long term marketing and product offering objectives.
It is critically important that community banks stay fully apprised of all available technology solutions in order to stay competitive, compliant with regulations and also protected against fraud. The payment system experts at Artisan Advisors are uniquely qualified to offer valuable insight into this constantly changing and crucial aspect of community banking. Contact us today to learn more about how we can help your community bank successfully utilize and manage financial technology in your institution.
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