ABA Banking Journal - September/October 2017 - 29

and local community institutions, are included. Frank
Sorrentino, chairman and CEO of ConnectOne Bank, a
New Jersey community institution that offers Zelle, says
participating banks are "forward-thinking and want to be on
this common platform." With Zelle banks accounting for the
vast majority of U.S. deposits, the system approaches near
ubiquity-customers at non-Zelle banks can even receive
payments by downloading the Zelle app due to be released
this fall.
The idea behind Zelle is to offer customers the convenience
of quick payments combined with the security of their own
bank's app and the knowledge that funds are transferred in
real time. "When it comes to money, consumers trust their
banks," says Peter Tapling, the chief revenue officer at Early
Warning, the company that developed Zelle. "Banks can
provide better service to their customer if they have direct
visibility into all that's going on."
Zelle has partnered with the three largest core processors-
Fiserv, FIS and Jack Henry-making it easier for smaller
community banks to offer Zelle to their customers if they
wish, says Tapling. No matter the size of the bank, Zelle
network rules and technology ensure the in-app experience
is the same for every user. Businesses can also use Zelle
for business-to-consumer payments, providing an option for
commercial bank customers to get payments settled more
quickly, such as an insurance company paying a claim.

Two

RECEIPT MANAGEMENT

For many corporate employees, expense
reports remain an old-school relic in the digital
age with the need to keep track of numerous paper receipts,
then categorize them and add up the totals. And for people
who budget in their personal life and use receipts to track
their spending, or for self-employed entrepreneurs who need
to record their expenses for tax purposes, managing receipts
is an extra headache.
But just as mobile deposit capture made it effortless to
handle paper checks, new receipt management solutions
are bringing the convenience of the smartphone to the
chore of expense tracking. For example, a company called
Shoeboxed offers technology that adds a receipt tab to
the app, allowing customers to photograph and categorize
receipts, making expensing vastly simpler.

But receipt management also offers benefits for retail
consumers too. "The step further that we can go is we can
also pull off SKU-level item data from those receipts," says
Michael Hourigan, director of marketing at Shoeboxed,
referring to the specific product codes for items purchased.
For example, it can integrate with personal financial
management tools to offer a monthly budget snapshot with
much greater granularity. Instead of categorizing a purchase
at Walmart as "general merchandise," the app can break it
down into groceries, health and lawn care.
Receipt management also allows banks apps to track
warranty registration deadlines, product recall alerts and tip
fraud, Hourigan says. Customers that receive email receipts
can also include have these synced into the app. "Receipt
capture makes your mobile app much more sticky," says
Hourigan. "It makes users routinely come back to it."

Three

WEALTH MANAGEMENT INSIGHTS

Many bank customers today have many
different retirement or asset management
accounts-say, a 401(k) with T. Rowe Price, a Roth IRA
with Fidelity and a brokerage account with Charles Schwab.
Some customers, particularly those who have worked at
numerous jobs, may even have dozens of these accounts.
It's hard to get a unified view of the performance of diverse
investment accounts, though, and to understand whether
they're performing as they should.
New wealth management solutions can change that. Visualize
Wealth, for example, offers an in-bank-app solution that
integrates views of all investment and financial accounts, lets
customers allocate which investments are directed toward
particular financial goals, and provides a "nutrition label"
that analyzes fees, rates of return and risk levels to provide a
transparent view of investment performance.
Benjamin Gross, Visualize Wealth's founder and CEO,
contrasts the in-app solution to fintech companies that
provide investment analysis but are also seeking to capture
investment accounts. "Our goal is to arm institutions with
a value proposition that consumers can't get anywhere
else," he says. "We're not trying to manage your money or
harvest those assets. All we're trying to do is provide you a
transparent view of your portfolio. That's a huge value add
that no one is offering in the market now."
aba.com/BankingJournal | ABA BANKING JOURNAL

29


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Table of Contents for the Digital Edition of ABA Banking Journal - September/October 2017

CHAIRMAN’S VIEW
UPFRONT
PICTURE THIS
LEGAL BRIEFS
POWER UP PROFILE
THE TOP FINTECH TRENDS DRIVING THE NEXT DECADE
PLUG AND PLAY: FOUR WAYS TO LEVEL UP YOUR MOBILE BANKING APP
MAKING FRIENDS WITH FINTECH
LOOKING AT FINTECH THROUGH THE LEGISLATIVE LENS
LET’S TALK PAYMENTS
IS OUTSOURCING IT SECURITY RIGHT FOR YOUR BANK?
THE CECL RIPPLE EFFECT
FROM YOUNG AMERICANS TO ENTREPRENEURIAL CITIZENS
FINDING THE PERFECT NICHE
THREE ELEMENTS OF BANK LEADERSHIP
REAL ESTATE LENDING
ABA COMPLIANCE CENTER INBOX
WEALTH MANAGEMENT
FROM THE STATES
CORPORATE SOCIAL RESPONSIBILITY
INDEX OF ADVERTISERS
FROM THE VAULT
ABA Banking Journal - September/October 2017 - Intro
ABA Banking Journal - September/October 2017 - bellyband1
ABA Banking Journal - September/October 2017 - bellyband2
ABA Banking Journal - September/October 2017 - cover1
ABA Banking Journal - September/October 2017 - cover2
ABA Banking Journal - September/October 2017 - 3
ABA Banking Journal - September/October 2017 - 4
ABA Banking Journal - September/October 2017 - 5
ABA Banking Journal - September/October 2017 - 6
ABA Banking Journal - September/October 2017 - 7
ABA Banking Journal - September/October 2017 - CHAIRMAN’S VIEW
ABA Banking Journal - September/October 2017 - 9
ABA Banking Journal - September/October 2017 - 10
ABA Banking Journal - September/October 2017 - UPFRONT
ABA Banking Journal - September/October 2017 - 12
ABA Banking Journal - September/October 2017 - 13
ABA Banking Journal - September/October 2017 - 14
ABA Banking Journal - September/October 2017 - 15
ABA Banking Journal - September/October 2017 - PICTURE THIS
ABA Banking Journal - September/October 2017 - 17
ABA Banking Journal - September/October 2017 - LEGAL BRIEFS
ABA Banking Journal - September/October 2017 - 19
ABA Banking Journal - September/October 2017 - POWER UP PROFILE
ABA Banking Journal - September/October 2017 - 21
ABA Banking Journal - September/October 2017 - THE TOP FINTECH TRENDS DRIVING THE NEXT DECADE
ABA Banking Journal - September/October 2017 - 23
ABA Banking Journal - September/October 2017 - 24
ABA Banking Journal - September/October 2017 - 25
ABA Banking Journal - September/October 2017 - 26
ABA Banking Journal - September/October 2017 - 27
ABA Banking Journal - September/October 2017 - PLUG AND PLAY: FOUR WAYS TO LEVEL UP YOUR MOBILE BANKING APP
ABA Banking Journal - September/October 2017 - 29
ABA Banking Journal - September/October 2017 - 30
ABA Banking Journal - September/October 2017 - 31
ABA Banking Journal - September/October 2017 - MAKING FRIENDS WITH FINTECH
ABA Banking Journal - September/October 2017 - 33
ABA Banking Journal - September/October 2017 - LOOKING AT FINTECH THROUGH THE LEGISLATIVE LENS
ABA Banking Journal - September/October 2017 - 35
ABA Banking Journal - September/October 2017 - LET’S TALK PAYMENTS
ABA Banking Journal - September/October 2017 - 37
ABA Banking Journal - September/October 2017 - 38
ABA Banking Journal - September/October 2017 - IS OUTSOURCING IT SECURITY RIGHT FOR YOUR BANK?
ABA Banking Journal - September/October 2017 - THE CECL RIPPLE EFFECT
ABA Banking Journal - September/October 2017 - 41
ABA Banking Journal - September/October 2017 - 42
ABA Banking Journal - September/October 2017 - FROM YOUNG AMERICANS TO ENTREPRENEURIAL CITIZENS
ABA Banking Journal - September/October 2017 - 44
ABA Banking Journal - September/October 2017 - 45
ABA Banking Journal - September/October 2017 - 46
ABA Banking Journal - September/October 2017 - FINDING THE PERFECT NICHE
ABA Banking Journal - September/October 2017 - 48
ABA Banking Journal - September/October 2017 - 49
ABA Banking Journal - September/October 2017 - 50
ABA Banking Journal - September/October 2017 - THREE ELEMENTS OF BANK LEADERSHIP
ABA Banking Journal - September/October 2017 - 52
ABA Banking Journal - September/October 2017 - 53
ABA Banking Journal - September/October 2017 - REAL ESTATE LENDING
ABA Banking Journal - September/October 2017 - 55
ABA Banking Journal - September/October 2017 - 56
ABA Banking Journal - September/October 2017 - 57
ABA Banking Journal - September/October 2017 - 58
ABA Banking Journal - September/October 2017 - 59
ABA Banking Journal - September/October 2017 - ABA COMPLIANCE CENTER INBOX
ABA Banking Journal - September/October 2017 - 61
ABA Banking Journal - September/October 2017 - WEALTH MANAGEMENT
ABA Banking Journal - September/October 2017 - FROM THE STATES
ABA Banking Journal - September/October 2017 - CORPORATE SOCIAL RESPONSIBILITY
ABA Banking Journal - September/October 2017 - INDEX OF ADVERTISERS
ABA Banking Journal - September/October 2017 - FROM THE VAULT
ABA Banking Journal - September/October 2017 - cover3
ABA Banking Journal - September/October 2017 - cover4
ABA Banking Journal - September/October 2017 - outsert1
ABA Banking Journal - September/October 2017 - outsert2
ABA Banking Journal - September/October 2017 - outsert3
ABA Banking Journal - September/October 2017 - outsert4
ABA Banking Journal - September/October 2017 - outsert5
ABA Banking Journal - September/October 2017 - outsert6
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