Agenda 2019

8:00 AM – 8:30 AM             Breakfast
8:30 AM – 8:45 AM             Welcome and Opening Remarks
8:45 AM – 9:30 AM             Digital Banking Strategies and the Regulatory Landscape
9:30 AM – 9:45 AM             Break
9:45 AM – 10:30 AM           Digital & Dynamic Data-Driven Overdraft Management
10:30 AM – 11:00 AM         Leverage Data & Digitization to Build Revenue & Relationships
11:00 AM – 11:15 AM         Break
11:15 AM – 12:15 PM         The Power and Profitability of Digital Lending
12:15 PM – 1:00 PM           Lunch and Networking
1:00 PM – 1:45 PM             Big Data Profits through a Unified Platform Approach
1:45 PM – 2:15 PM             Digital & Social Strategies for Account Acquisition

Digital Banking Strategies and the Regulatory Landscape
The OCC is offering a fintech charter. Multiple states are considering fintech “sandboxes” to follow the lead of Arizona, which already passed its “sandbox” law last year.

Innovation is great, but what’s the goal of these fintech companies? The reality is that they want to play in YOUR sandbox! Bankers need insights to be equipped to compete with fintechs as a result of these regulatory changes.

Are there ways to provide even better technology to the marketplace than fintech competitors? How can you leverage your unique ability to obtain low-cost funds and market from your platform as a trusted financial institution within the regulated and insured banking system? And how do you utilize your vast trove of consumer data that fintechs can’t easily get to improve your bottom line?

Regulatory technology (“RegTech”) is another hot topic. What if you could manage more of the vast regulatory requirements applicable to you through technology that allows you to use your best people for more profitable activities than step-and-repeat compliance tasks? Are other financial institutions going to outpace you because they are more efficient by using RegTech effectively and therefore can scale faster than you?

Velocity CEO and attorney Christopher Leonard has not only watched this unfold over the last 20 years but also participated in it. He will bring meaningful insights into how financial institutions can win against fintech startups by thinking like them and partnering with the right third parties – those who are aligned in the mission to advance banking institutions by building on their strengths in the changing digital world.

Digital & Dynamic Data-Driven Overdraft Management
Managing overdraft services well requires your bank or credit union to provide the best possible service to each account holder and to keep the regulators satisfied – while simultaneously maintaining overdraft as a line of business that drives revenue. These goals are not mutually exclusive, and with the application of technology and dynamic limits, it’s more straightforward than ever to successfully balance service, revenue and compliance.

In this session, Velocity CEO Christopher Leonard discusses how leading financial institutions provide overdraft limits that change dynamically with specific activity and patterns of behavior – the science of which is backed by years of data aggregation and analysis resulting in continually refined algorithms gauging ability to repay.  He will also:

  • Demonstrate how the proper application of dynamic limits mitigates risk and protects both the account holder and the financial institution.
  • Address the importance of Reg. E and the vital role played by your new accounts desk in securing Reg. E decisions.
  • Explain how successful financial institutions have simplified and centralized their processes, resulting in vastly improved overdraft operational efficiencies.
  • Discuss how a dynamic and automated overdraft management program can facilitate account holder communication and provide digital reporting packages for your management team and board of directors.

Leverage Data & Digitization to Build Revenue & Relationships
One of the topics we’ve discussed for years at Velocity is the role that transactional activity plays in building account revenue and strengthening relationships.  As you already know, the only profitable accounts are those that are actively transacting. But how do you leverage the data you already have with digital tactics to boost transactional activity even higher and encourage activity in your less active accounts?

Your bank or credit union likely doesn’t have a whole team of data scientists or business analysts focused on building revenue and relationships. Fortunately, there’s a tool that almost every account holder uses that easily provides the data you need: the debit card.  In this session, we’ll discuss how patterns and frequency of debit card usage provide valuable insights and demonstrate how you can leverage your existing data to identify the right opportunities for the right consumers and build stronger, longer-lasting relationships.

Digital & Social Strategies for Account Acquisition
Word-of-mouth recommendations shared between trusted friends and family have been one of the most powerful forms of marketing for ages.  While this form of communication still thrives today and marketers continue to leverage this strategy, the term “word-of-mouth” has evolved to mean any type of communication, from phone calls to water cooler conversations to email, texting and social media.

Imagine the possibilities of marrying one of the most proven, traditional methods of communication with the power of today’s digital and social channels for account acquisition! Not only do satisfied consumers reach exponentially more people, but research has shown that consumers who are referred to your institution are more profitable, maintain higher balances and stay longer.

However, savvy bank and credit union executives know that growing your quantity of accounts is just the first step in nurturing a long-lasting profitable relationship with your customers or members. Those account holders must be fully onboarded, and you must retain their business for the long term. So how do you maximize the lifetime value of each account holder?

In this session, Velocity superstar and banking industry veteran Cindy Draper will discuss how other financial institutions are already leveraging the proven strategy of bridging traditional communication methods with digital and social channels to grow, onboard, retain and increase profitability of their account base.

Big Data Profits through a Unified Platform Approach
The term “Big Data” has become ubiquitous in just about every media publication, throughout every industry and within many various contexts. But have you considered what the proper application of Big Data means to your bank or credit union? Many financial institutions continue to struggle with data silos across the organization, leading to complex manual and duplicative processes, different search methods and tools used by different departments, eventually resulting in vastly differing goals and priorities across lines of business.  And it’s the consumers who suffer most from this lack of coordination.

Without a comprehensive and unified Big Data approach, banks and credit unions lack a complete 360 degree view of their account holders’ needs and opportunities.  Imagine what you could accomplish if:

  • You had your account holders’ data in one easy-to-use platform?
  • You could easily share meaningful insights from that data with the front line, marketing team, management and other stakeholders throughout the organization?
  • You knew how to apply the data to increase revenue, reduce expenses and improve the consumer experience?

In this session, we’ll discuss the countless benefits of using one unified platform, and how your financial institution can start planning for Big Data success.

The Power and Profitability of Digital Lending
Beyond mortgage lending, other digital lending  is a total addressable market of $1 trillion in the U.S., and loan origination volumes could reach $90 billion by 2020, over 350% of what it was just 5 years earlier.

Financial institutions stand to benefit substantially by meeting changing customer expectations in this space. The most important step is expanding lending channels through user-friendly digital platforms to drive more loan volume and compete with non-bank lenders. Also key to success is using that technology to make underwriting, documentation and funding faster and more efficient by keeping everything in a unified platform.

You can win in this space by adopting lending technology that is affordable, efficient, automated and compliant. Whether your account holders are consumers looking for short-term, small-dollar loans to bridge income gaps, or businesses seeking commercial loans, do you have a process in place to digitally manage the entire transaction from application to funding?

Your institution will not be able to grow and meet borrower expectations if you continue to rely on traditional, manual processes and channels that could be automated. In this session, Chris Rentner, Director of Digital Lending, explains how other banks and credit unions are already successfully using digital lending technology in retail and commercial markets to grow their loan volumes and create efficiency in their processes.