Resources for Signature^®

1. Adapt

2020 Payments Transformation Survey – Results from the sixth annual Fiserv-commissioned payments survey of financial institutions show that payment experience is taking center stage and redefining the direction of the industry. The survey indicates that financial institutions are focusing on payments modernization initiatives, including instant payments, the move to ISO 20022 and the adoption of open banking. At the same time, there's a strategic shift to determining how those changes can work together in an ecosystem and drive value for financial institutions and consumers. For highlights from the survey, read our blog, and to learn more, access the full survey report "Payments Transformation: Immediate, Intelligent and Inclusive.” 

Remaining Relevant in a Rapidly Changing Payments Ecosystem – Read this blog to learn what's driving the daunting pace of payments evolution and what strategies financial institutions should consider in light of those shifts. Both consumers and businesses expect seamless and intuitive payment experiences. Financial institutions must decide if payments are a strategic pillar or supporting function and then work with their technology partner to best serve their customers’ needs, which will enable them to remain relevant and profitable.

Managing the Transition from LIBOR to SOFR – Long a widely used benchmark for short-term interest rates, LIBOR is expected to be discontinued at the end of 2021. SOFR, the rate that is recommended as a replacement for LIBOR in the U.S., offers several methodologies and configurations for accruing interest on loans. Read our new point-of-view paper, which includes suggestions for employing the SOFR accrual methodologies, features and configurations and a LIBOR-to-SOFR migration checklist for those financial institutions with loans in their portfolio that will be affected by the cessation of LIBOR.

2. Grow

Use Big Data to Grow Your Debit and Credit Card Business – Actionable data is critical in an increasingly competitive market. Fiserv recently announced its new Card Expert^SM solution, which aggregates key data and delivers actionable insights in easy-to-use, interactive dashboards, providing financial institutions with the information they need to make critical business decisions about the performance and profitability of their card portfolios. For additional information, download an informative point-of-view paper and check out other information about Card Expert on Fiserv.com. 

Combat Channel Fog and Fatigue in Consumer Communications – Consumer preference takes center stage in today’s uncertain times. Recent research from Keypoint Intelligence shows that making the paperless option a default or even the only option for transactional communications may not be the best long-term strategy. Over three-quarters of consumers in North America agreed that they wanted to decide which channels their providers used to communicate with them, and nearly half (47%) wanted printed versions of their bills and statements. In addition, 64% of respondents agreed that when they switched from one provider to another, it was often due to a bad experience—like a disregard of customer communication preferences. Listen to this recorded webinar to gain insights on communication trends to help grow your business and stay connected with your customers.

Support Financial Inclusion – Financial institutions within the U.S. can promote financial inclusion by offering Bank On-certified accounts, improving access to safe, affordable financial services for the unbanked or underbanked. Fiserv is pleased to support financial institutions that elect to offer Bank On-certified accounts. 

3. Protect 

Advantages of Partnering with a Managed Security Service Provider (MSSP) – The financial risks from ransomware are substantial. Lost revenues, lost productivity and recovery costs can add up to millions. Repairing customer and partner relationships, rebuilding brand, and legal and contractual mitigations are costly. It’s estimated the average cost of a cyberattack exceeds $3 million. Access this point-of-view paper in which cybersecurity experts from Fiserv and BlueVoyant lay out key considerations for financial institutions that are deciding whether to build their own security operations center or partner with an MSSP.

Consumer Concerns About Cybersecurity – According to the 2020 Fiserv Fraud and Security Survey, which gathered insights from more than 1,000 Americans aged 18 to 74, cybersecurity concerns remain as consumers increasingly adopt digital payment methods. These payment methods facilitate touchless interactions, yet often require consumers to input personally identifiable information (PII) within a digital profile, loyalty account, or for shipping information. Since the onset of the COVID-19 pandemic, 33% of consumers surveyed have increased their use of digital, touchless payments, and 69% plan to use more touchless payments in the future. However, only 23% of consumers believe that their PII is very or extremely secure. Click here to access the results of the survey.