Braid

Is your bank or credit union considering fintech partnerships but unsure where to start? We understand the mix of excitement and compliance worries that arise when adopting new technologies and business models. So, we created FI LAB. 🌐 What's in it for you? We're offering small banks and credit unions (with $500 million AUM or less) a dedicated sandbox environment to experiment, prototype, and collaborate with real fintechs. This is your chance to innovate, test new ideas, and see firsthand how fintech can transform your services without any risk. If you and the fintech like each other and are ready to take next steps, we'll help you organize the due diligence process. 💡 Why FI LAB? Hands-On Experience: Get a feel for fintech integration in a safe, controlled environment. Collaboration Opportunities: Work alongside leading fintechs to explore potential partnerships. Innovation without Risk: Test new technologies without impacting your existing operations. Don't miss out on this exciting opportunity to dip your toes into the fintech waters. 🌊 Let's explore, innovate, and grow together! 🔗 Ready to get started? Connect with us today to learn more about the FI Lab and how your bank or credit union can benefit. #BraidFILab #Innovation #Banking #Fintech #BraidFI #Sandbox

Who doesn't love a good list? ✅  Effective list management is foundational to compliance monitoring. Don't offload this responsibility to your fintech or third-party relationships. Screen at key points such as customer and counterparty onboarding, and pre- or post-transaction processing. Your installation of Braid comes with comprehensive list screening capabilities to ensure ongoing compliance: - US Treasury - Office of Foreign Assets Control - Department of Commerce – Bureau of Industry and Security - Department of State – Bureau of International Security and Non-proliferation - Department of State – Directorate of Defense Trade Controls Access detailed audit logs, enabling you to track when each list was last updated and the most recent screening dates for customers and counterparties. By leveraging Braid's list screening and management features, a community bank of any size can take on fintech programs like a gold medalist. 🥇  #Compliance #Fintech #BankingInnovation #BraidFI #ListManagement #OFAC #RegTech #FinancialServices #RiskManagement

If you're a community bank or credit union leader considering sponsoring fintech programs, it's really important to think like a fintech. Just a little bit. Before diving into APIs, real-time payments, virtual this and that, THE most important thing to look for is how a platform groups customers and accounts. This is the ball game, folks. Next to installing the software within your bank or CU walls and good accounting, how much control you have across many fintech partners and nested customers will mainly depend on how they are grouped and stacked during the onboarding process—think building blocks. Here are some examples of what is possible in an ACH context when you have good building blocks in place: ✅ Real-time OFAC screening of the Company and Individual Name ✅ Real-time application of rules and limits on Originators (5) ✅ Real-time application of rules and limits on Counterparties (6) ✅ Full visibility to TPS and nested TPS activity ✅ Real-time monitoring of Administrative and Unauthorized Returns ✅ Real-time NOC processing ✅ Real-time loss prevention via virtual reserve accounts ✅ Real-time collection and allocation of fees You don't have to settle for NACHA files blindly flying between SFTP folders anymore. With good building blocks, you can take a traditional batch process and embed real-time controls before or after a file touches the Fed. Braid Blocks. #CommunityBanking #CreditUnions #FintechSponsorship #ThinkLikeAFintech #BankingInnovation #FinancialTechnology #RealTimePayments #BankingControl #ACHProcessing #FintechIntegration #BraidBlocks #BankingTransformation

Before diving into the countless technology solutions available to you, first, imagine what your bank or credit union can become. If you're thinking about "dabbling" in third-party programs, you're making a mistake. It's difficult, littered with risk, and could result in a consent order if you make the wrong move. We all know this. We appreciate this reality. First, imagine the worst possible outcome (WPO) and let it really sink in. There are a few examples to look at today. If you dig through the noise, you'll find some fairly basic control points. List those down. You may not be a technical executive, but there are some data points that can't be parsed or covered up with buzzwords or marketing designed to make you feel safe and in control. Pull your technology leaders in to help you understand and use those data points as your foundation. When reviewing a potential third party or vendor, use those data points to acid test everything. This goes above and beyond your standard Vendor Due Diligence Checklist. You say I have control? Show me how. You say the accounting is good? Show me the chart of accounts in the database and how you calculate running balances. You won't find perfection with any vendor, but with the right line of questioning, you will get a sense of how your potential partner thinks and operates. Secondly, decide. You're not getting younger and the market isn't going to wait for you. Decide that you want to grow. Lock and load with your team and move towards turning your institution into a Fintech pillar. It starts with your imagination. #fintech #digitalbank #payments

This is going to be a great discussion. One more week! Grab a slot as soon as humanly possible. ✅ #fintech #riskmanagement #banking

Today our team did a dry-run on the presentation - we're feeling good about it and can't wait to meet you all on the 18th! Be sure to use the Event Link above, to register. See you soon!

🛑 WARNING! 🛑 Do NOT point your camera at the QR code if you're... ❓A Fintech and you're happy with your current BaaS provider ❓Like having layers between you and your partner bank ❓Okay with your business going 💣 because of someone else ❓Not interested in moving up in the supply chain and closer to the charter For everyone else, we have a tiny group of financial institutions waiting to partner with you. #redpillbluepill #fintech #payments #braided

Happy Independence Day! 🇺🇸 As we celebrate Independence Day, we honor the spirit of freedom and resilience that defines our nation. The banking community plays a vital role in supporting the American dream, fostering financial independence and growth for individuals and businesses alike. 🏦 Let's take a moment to appreciate the hard work and dedication of our colleagues in the banking industry who help build a stronger, more prosperous America. 💙❤️ Wishing everyone a safe and joyous 4th of July! 🌎🎉 #IndependenceDay #4thOfJuly #Freedom #USA #bankingTech #braid #CommunityBank #Fintech #BankingSolutions #FintechInnovation #DigitalBanking

Braid is hosting a free webinar: Having Fintech Relationships: Is It Risky Business? Be sure to register before July 18 AND please share! 😇 #CommunityBanking #Fintech #RiskManagement

🌟 Elevate fintech banking operations with Braid's structured framework! 🚀 The ability to process a payment transaction is not enough. To have control, your bank must be able to group customers and accounts before the first dollar moves across a payment network. 🚨 Discover how our approach will help your bank manage third-party programs such as fintechs and MSBs: 🏁 Regulatory Compliance: Implement and manage rules, limits, and fees across various third-parties, customers, and accounts. 🏁 Transparency: Ensure clear visibility into third-party programs with structured reporting and real-time views. 🏁 Adaptability: Customize rules, limits, and fees to meet the diverse needs of fintechs and MSBs, enhancing collaboration and revenue opportunities. Interested in optimizing your bank’s fintech strategy with Braid? Let’s connect and discuss your goals! 🌐 #BankingTechnology #CommunityBank #FinTech