The case for consolidation

first_imgAdvantages of a single payment processor.As a credit union, you are competing for your members’ business every time they visit an ATM, swipe a card or sign on the dotted line. To make sure payments are fast, easy and secure for members, you rely on a complex array of processing technologies.And if you have a proven track record with different vendors for debit, credit and ATM payment processing, you may be reluctant to “mess with success.” However, maintaining this multi-vendor paradigm may be holding you back.According to Lynn Kneebone, director of national sales for CO-OP Financial Services (www.co-opfs.org), credit unions don’t typically contract multiple payment processors by design. More often than not, it is a dynamic that occurs over time.“As a financial institution, you may have first rolled out a PIN-based solution, then added signature processing with a different vendor, and eventually upgraded your ATM fleet with a third,” she says. “While all three solutions may be operationally sound, managing the complexities of these disparate systems can negatively impact both your service to members and bottom line.” continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Dutch survey: In-house asset management gets boost

first_imgIt also showed that particular government bonds, credit and equity were managed internally.Approximately 30% of the 47 participating schemes carried out at least part of their fiduciary management in house, up from 17% in 2017. Half of them deployed external fiduciary managers, but only for some mandates.The research showed that a large number of different fiduciary managers were hired, with NN Investment Partners being the most used this year. MN came second, while Achmea Investment Management and TKPI shared third place.More than three-quarters of participants indicated that the main reason for hiring a fiduciary manager was getting access to broader expertise and specialist services, as well as workload relief.The most important criteria for manager selection were listed as the quality of risk management and the like-minded corporate culture that pension funds and managers share.According to the research, 70% of respondents considered it highly unlikely that a pension fund’s board would give up too much control by fully outsourcing its assets to a fiduciary manager.The survey included 49 respondents, representing 47 pension funds with assets ranging from €350m to €250bn and totalling €635bn. An increasing number of Dutch pension funds is reverting to in-house asset management, in particular for equity and bonds, the annual survey of Dutch pension funds published by Pensioen Pro has suggested.It found the amount of externally managed assets dropped by €169bn to €916bn this year, as part of a trend that started in 2018.The percentage of schemes that at least in part internally managed assets jumped from 16.7% in 2017 to 34% this year, it showed.The survey also disclosed that 85% of pension funds with in-house management have investment expertise on their board or administrative teams, or are being advised by their own investment committee, whereas 64% used an investment consultancy.last_img read more