Outsourcing isn’t as new to wealth management as it may seem.Interest may have accelerated recently, but outsourcing has been quietly evolving and growing in financial services for years. And with continued challenges in both economic and labor markets, outsourcing is proving effective at helping firms refocus on critical, value-added activities that will help them grow.In this episode of Bank on Wipfli, Robert Zondag (https://www.wipfli.com/about-wipfli/partners-and-associates/robert-zondag), Wipfli principal, and Joe Cortese (https://www.fiducientadvisors.com/team/joseph-cortese), partner at Fiducient Advisors, explore the rise in outsourcing and how it can benefit your firm.Listen in as they discuss:* What are the key reasons firms are considering outsourcing in today’s market?* What factors should firms consider while picking the right outsourcing partner?* How did the trend of outsourcing in wealth management firms begin?

AI tools like ChatGPT are powerful and easy to access, but understanding how to leverage them effectively — while mitigating risk — is challenging. To take full advantage of their potential, your financial institution needs to have the right guidelines in place so that your people can get creative with application.In this episode of Bank on Wipfli, Robert Zondag, Wipfli principal, and Ben Udell, senior vice president of client experience at Lake Ridge Bank, explore use cases and best practices for using AI in financial institutions.Listen in as they discuss:• How can my organization start using AI?• What guidelines and policies should be put in place?

Whether you refer to your buyers as customers or members, data helps financial institutions understand them and predict their behavior patterns. It is a continuous process and requires a sound strategy. The majority of businesses today are using data analytics to improve their decision-making and their operational performance — and savvy financial institutions should, too.In this episode of Bank on Wipfli, join Robert Zondag (https://www.wipfli.com/about-wipfli/partners-and-associates/robert-zondag), Wipfli principal, and Matt Sabo (https://www.wipfli.com/about-wipfli/partners-and-associates/matt-sabo), Wipfli director, for a discussion with Wescom Credit Union leaders Dave Cerwinski (https://www.linkedin.com/in/dave-cerwinski-344225/) and Joseph Pellissery (https://www.linkedin.com/in/josephpellissery/). They cover: ·        How data helps financial institutions understand their buyers (aka customers and members)·        The kinds of offers that keep buyers loyal·        How data empowers associates at your institution in their engagement with buyers

Fraudsters are targeting small and medium-sized businesses like never before. And this puts the financial institutions working with these customers increasingly at risk when originating ACH and providing remote data capture (RDC).Traditional, manual audit methods simply cannot keep up with the explosion in fraud among customers at financial institutions who originate ACH payments and use RDC for deposits. This leaves financial institutions more vulnerable to risk than they may realize. Our Bank on Wipfli special guest to discuss risk management automation is Trevor Lain (https://www.linkedin.com/in/trevorlain/), founder and CEO of LexAlign PBC. Join Lain, Wipfli partner Robert H. Zondag (https://www.wipfli.com/about-wipfli/partners-and-associates/robert-zondag) and Wipfli senior manager Tim Merrell (https://www.wipfli.com/about-wipfli/partners-and-associates/tim-merrell) for a conversation on today’s oversight challenges and the best ways to address them. They cover:·        The drawbacks of current manual audit practices·        Gaps created in business operations in current practices·        The benefits of automating required audit and security reviews ·        How improving risk management supports growth and sales

Generative AI tools like ChatGPT provide exciting opportunities for financial institutions to enhance customer service and increase operational efficiency. But any innovative technology also carries new risks to manage. In the hands of bad actors, generative AI also has the potential to increase the rate and sophistication of cyberattacks.Join this episode of Bank on Wipfli as we discuss the benefits of these new tools and how you can help ensure your defenses are AI ready.Listen in as Jeff Olejnik, principal at Wipfli, and Robert Zondag, partner at Wipfli, discuss: • The benefits and potential risks of AI • How to prepare your cybersecurity • Why financial institutions should have AI in their long-term digital strategy

Join us for a conversation about the state of vendor management. Learn how outsourcing management can help your organization meet rising customer expectations.

The regulations around overdraft fees are changing fast. If your financial institution wants to be compliant and avoid litigation, you’ll need to keep up. In this episode of Bank on Wipfli, we cover ways that you can manage regulations. Learn how clear communication and transparency in member agreements can help you navigate representment and the FDIC’s unfair, deceptive or abusive acts or practices policies.Our special guest is Cheryl Lawson, executive vice president of compliance review at JMFA (https://www.jmfa.com/). Join Cheryl and Wipfli senior manager Robert Zondag (https://www.wipfli.com/about-wipfli/partners-and-associates/robert-zondag) as they cover how to respond to litigation and answer these questions:·      How can you ensure your financial institution’s overdraft program is compliant with all regulations?·      How can you ensure transparency and help account holders know what they’re agreeing to?·      How can you keep up with all the regulations around overdraft programs?

Economic uncertainties are top of mind for most businesses and individuals. How will we know when we’re in a recession, and how should we prepare? How bad is it likely to be? Are interest rates likely to remain high? When will the housing market turn around?These are some of the key questions we address in this episode of Bank on Wipfli, which takes a deeper dive behind the alarmist headlines. Our special guest is Elliot Eisenberg, chief economist at GraphsandLaughs LLC (https://econ70.com/) and former senior economist at the National Association of Home Builders and consultant to real estate professional associations, hedge funds and investment advisory groups. Join Eisenberg and Wipfli senior manager Robert Zondag (https://www.wipfli.com/about-wipfli/partners-and-associates/robert-zondag) as they discuss the state of the economy and the implications for:

The latest trends in banking (https://www.bai.org/wp-content/uploads/2022/01/the-top-banking-trends-and-challenges-for-2022.pdf) show that customers, especially younger ones, are expecting more from their online banking. To keep up, banks need to create effective digital interactions that not only increase customer engagement but also provide key data for decision making.This episode of Bank on Wipfli examines how you can move beyond digital banking services and rethink the way you reach your customers online.Our special guest for this episode is Scott Brown, vice president of growth at Larky (https://nudge.larky.com/). Listen in as he and Robert Zondag (https://www.wipfli.com/about-wipfli/partners-and-associates/robert-zondag), senior manager at Wipfli, discuss:* How do push notifications compare to email notifications? Which is more effective?* What kind of valuable data could be provided from digital interactions?* How can your financial institution begin the journey of improving your digital communications?