Velocity Solutions News Archives
CFPB confirms overdraft is here to stay
The Consumer Financial Protection Bureau (CFPB) has proposed a rule to be effective October 1, 2025 (at the earliest) that would regulate overdraft services at financial institutions with $10 billion or more in assets. Our [...]
Whitepaper: Beyond overdraft
Download this comprehensive white paper from Cornerstone Advisors, based on a Q2 2022 online survey of 3,000 US consumers that explores consumers’ use of, experience with, and attitudes towards overdraft protection services and with [...]
Overdraft isn’t over
Overdraft is definitely in the news. Pundits prognosticate on how overdraft is going away, and create the impression that all consumers detest overdraft and want the service to end. I have a unique perspective on [...]
White paper: The battle for small business lending – part three
In Part 3, we’ll talk about effective rallying cries to bring the business borrowers to your financial institution. In other words, why should they borrow from you rather than a challenger credit union, online [...]
White paper: The battle for small business lending – part two
In Part 2, we’ll discuss the power of a digital platform in defeating the competition! Digital technology allows your bank or credit union to provide small business loans efficiently, quickly and profitably.
White paper: The battle for small business lending – part one
In this series, we will lay out a battle plan for overcoming obstacles and conquering the competition in the digital small business lending space.
8 probing questions to ask a prospective small business lending partner
For many banks, the ability to offer small-business loans efficiently, quickly and compliantly has been more of an aspiration than a reality. The technical, financial and staffing obstacles involved in launching small business loan products [...]
How you can help members weather the COVID-induced financial storm
The “Times Insider,” a division of the New York Times, recently released one of the most shocking pandemic-related statistics yet: Twenty-two million U.S. jobs were lost in March and April because of the pandemic — [...]
Complimentary webinar: Why financial institutions must reacquire consumers through digital engagement
Velocity Solutions recently commissioned a research report from Cornerstone Advisors: The Reacquisition Imperative: Why Financial Institutions Must Reacquire Customers Through Digital Engagement. This 35-page report, based on survey data from 3,004 U.S. consumers, [...]
Catch up on Velocity Solutions’ Credit Union Recovery Series
Have you downloaded all four white papers to date in Velocity’s Credit Union Recovery Series? If not, here’s your chance to catch up. This series of white papers identifies and explores the top [...]
Smarter strategies for overdraft management and providing member liquidity
Why a MANAGED Overdraft Program Matters More Post-Crisis Overdraft has always been a valuable service to consumers, even pre-crisis, and it will continue to provide value post-crisis for consumers who need to rely on this [...]
Your consumers: Smart strategies for providing short-term liquidity
According to the Pew Research Center, about half of lower-income Americans report household job or wage loss due to COVID-19. Young adults were disproportionately at risk of job losses from COVID-19, as were the least [...]
Why a MANAGED overdraft program matters more post-crisis
Overdraft has always been a valuable service to consumers, even pre-crisis, and it will continue to provide value post-crisis for consumers who need to rely on this protection more than ever. As consumers across the [...]
Revive and reengage member swiping & deposit activity
In a blow to our economy unlike anything we’ve seen before, spending has plummeted across all payment methods and has impacted nearly every category, except for necessities such as groceries. Most financial institutions are [...]