Independent Banker - November 2022 - 42

PORTFOLIO
◎FOCUS PAYMENTS
Can open- and
closed-loop
payments coexist?
With consumer pressure to offer faster payments,
community banks are considering how they can offer
both open- and closed-loop payments platforms to
deepen customer relationships. By Colleen Morrison
ccording to Deloitte's July
2022 Payments Trends Report,
payments are thriving as a piece
of a holistic customer experience,
not a stand-alone transactional
exchange. In today's environment,
that distinction can make or break a
community bank payments program.
The movement of money may
now matter less than the experience
behind it, increasing friction between
open- and closed-loop networks.
Open vs. closed loop
" Open-loop networks are payment
networks open and accessible to
all financial institutions and their
customers via defined standards
and specs. Think ACH, Visa and
Mastercard, " explains Nick Denning,
senior vice president of payments
industry relations at ICBA Bancard.
" Closed-loop networks, on the other
hand, are not open and accessible to
all; consumers and businesses must
have direct relationships with the
payment network itself. Think Amex,
Venmo and others. "
" Both open- and closed-loop
networks are trying to achieve the
same objective, which is to provide
the best payments experience, " notes
Zachary Aron, principal, Deloitte
Consulting LLP, and the global and
U.S. banking and capital markets
payments leader. " Advancements in
real-time payments infrastructure,
identity and digital currencies make
it easier for both types of networks to
develop this type of experience. "
But with equal opportunity
comes equal competition, and
community banks, who have limited
influence over most closed-loop
systems, have been more focused
on ways to leverage open payments
infrastructure.
Tim Ruhe, vice president of realtime
payments at Fiserv, points
out that this makes strategic sense.
A
42 Q ICBA Independent Banker Q November 2022
Photo by Katie Chizhevskaya/Adobe

Independent Banker - November 2022

Table of Contents for the Digital Edition of Independent Banker - November 2022

Table of Contents
Independent Banker - November 2022 - Intro
Independent Banker - November 2022 - Cover1
Independent Banker - November 2022 - Cover2
Independent Banker - November 2022 - Table of Contents
Independent Banker - November 2022 - 2
Independent Banker - November 2022 - 3
Independent Banker - November 2022 - 4
Independent Banker - November 2022 - 5
Independent Banker - November 2022 - 6
Independent Banker - November 2022 - 7
Independent Banker - November 2022 - 8
Independent Banker - November 2022 - 9
Independent Banker - November 2022 - 10
Independent Banker - November 2022 - 11
Independent Banker - November 2022 - 12
Independent Banker - November 2022 - 13
Independent Banker - November 2022 - 14
Independent Banker - November 2022 - 15
Independent Banker - November 2022 - 16
Independent Banker - November 2022 - 17
Independent Banker - November 2022 - 18
Independent Banker - November 2022 - 19
Independent Banker - November 2022 - 20
Independent Banker - November 2022 - 21
Independent Banker - November 2022 - 22
Independent Banker - November 2022 - 23
Independent Banker - November 2022 - 24
Independent Banker - November 2022 - 25
Independent Banker - November 2022 - 26
Independent Banker - November 2022 - 27
Independent Banker - November 2022 - 28
Independent Banker - November 2022 - 29
Independent Banker - November 2022 - 30
Independent Banker - November 2022 - 31
Independent Banker - November 2022 - 32
Independent Banker - November 2022 - 33
Independent Banker - November 2022 - 34
Independent Banker - November 2022 - 35
Independent Banker - November 2022 - 36
Independent Banker - November 2022 - 37
Independent Banker - November 2022 - 38
Independent Banker - November 2022 - 39
Independent Banker - November 2022 - 40
Independent Banker - November 2022 - 41
Independent Banker - November 2022 - 42
Independent Banker - November 2022 - 43
Independent Banker - November 2022 - 44
Independent Banker - November 2022 - 45
Independent Banker - November 2022 - 46
Independent Banker - November 2022 - 47
Independent Banker - November 2022 - 48
Independent Banker - November 2022 - 49
Independent Banker - November 2022 - 50
Independent Banker - November 2022 - 51
Independent Banker - November 2022 - 52
Independent Banker - November 2022 - 53
Independent Banker - November 2022 - 54
Independent Banker - November 2022 - 55
Independent Banker - November 2022 - 56
Independent Banker - November 2022 - 57
Independent Banker - November 2022 - 58
Independent Banker - November 2022 - 59
Independent Banker - November 2022 - 60
Independent Banker - November 2022 - 61
Independent Banker - November 2022 - 62
Independent Banker - November 2022 - 63
Independent Banker - November 2022 - 64
Independent Banker - November 2022 - 65
Independent Banker - November 2022 - 66
Independent Banker - November 2022 - 67
Independent Banker - November 2022 - 68
Independent Banker - November 2022 - 69
Independent Banker - November 2022 - 70
Independent Banker - November 2022 - 71
Independent Banker - November 2022 - 72
Independent Banker - November 2022 - 73
Independent Banker - November 2022 - 74
Independent Banker - November 2022 - 75
Independent Banker - November 2022 - 76
Independent Banker - November 2022 - 77
Independent Banker - November 2022 - 78
Independent Banker - November 2022 - 79
Independent Banker - November 2022 - 80
Independent Banker - November 2022 - 81
Independent Banker - November 2022 - 82
Independent Banker - November 2022 - 83
Independent Banker - November 2022 - 84
Independent Banker - November 2022 - 85
Independent Banker - November 2022 - 86
Independent Banker - November 2022 - 87
Independent Banker - November 2022 - 88
Independent Banker - November 2022 - 89
Independent Banker - November 2022 - 90
Independent Banker - November 2022 - 91
Independent Banker - November 2022 - 92
Independent Banker - November 2022 - Cover3
Independent Banker - November 2022 - Cover4
https://www.nxtbook.com/mspc/independentbanker/january2025
https://www.nxtbook.com/mspc/independentbanker/december2024
https://www.nxtbook.com/mspc/independentbanker/november2024
https://www.nxtbook.com/mspc/independentbanker/october2024
https://www.nxtbook.com/mspc/independentbanker/september2024
https://www.nxtbook.com/mspc/independentbanker/august2024
https://www.nxtbook.com/mspc/independentbanker/july2024
https://www.nxtbook.com/mspc/independentbanker/june2024
https://www.nxtbook.com/mspc/independentbanker/may2024
https://www.nxtbook.com/mspc/independentbanker/april2024
https://www.nxtbook.com/mspc/independentbanker/march2024
https://www.nxtbook.com/mspc/independentbanker/february2024
https://www.nxtbook.com/mspc/independentbanker/january2024
https://www.nxtbook.com/mspc/independentbanker/december2023
https://www.nxtbook.com/mspc/independentbanker/november2023
https://www.nxtbook.com/mspc/independentbanker/october2023
https://www.nxtbook.com/mspc/independentbanker/september2023
https://www.nxtbook.com/mspc/independentbanker/august2023
https://www.nxtbook.com/mspc/independentbanker/july2023
https://www.nxtbook.com/mspc/independentbanker/june2023
https://www.nxtbook.com/mspc/independentbanker/may2023
https://www.nxtbook.com/mspc/independentbanker/april2023
https://www.nxtbook.com/mspc/independentbanker/march2023
https://www.nxtbook.com/mspc/independentbanker/february2023
https://www.nxtbook.com/mspc/independentbanker/january2023
https://www.nxtbook.com/mspc/independentbanker/december2022
https://www.nxtbook.com/mspc/independentbanker/november2022
https://www.nxtbook.com/mspc/independentbanker/october2022
https://www.nxtbook.com/mspc/independentbanker/september2022
https://www.nxtbook.com/mspc/independentbanker/august2022
https://www.nxtbook.com/mspc/independentbanker/july2022
https://www.nxtbook.com/mspc/independentbanker/june2022
https://www.nxtbook.com/mspc/independentbanker/may2022
https://www.nxtbook.com/mspc/independentbanker/april2022
https://www.nxtbook.com/mspc/independentbanker/march2022
https://www.nxtbook.com/mspc/independentbanker/february2022
https://www.nxtbook.com/mspc/independentbanker/january2022
https://www.nxtbook.com/mspc/independentbanker/december2021
https://www.nxtbook.com/mspc/independentbanker/november2021
https://www.nxtbook.com/mspc/independentbanker/october2021
https://www.nxtbook.com/mspc/independentbanker/september2021
https://www.nxtbook.com/mspc/independentbanker/august2021
https://www.nxtbook.com/mspc/independentbanker/july2021
https://www.nxtbook.com/mspc/independentbanker/june2021
https://www.nxtbook.com/mspc/independentbanker/may2021
https://www.nxtbook.com/mspc/independentbanker/april2021
https://www.nxtbook.com/mspc/independentbanker/march2021
https://www.nxtbook.com/mspc/independentbanker/february2021
https://www.nxtbook.com/mspc/independentbanker/january2021
https://www.nxtbook.com/mspc/independentbanker/december2020
https://www.nxtbook.com/mspc/independentbanker/november2020
https://www.nxtbook.com/mspc/independentbanker/october2020
https://www.nxtbook.com/mspc/independentbanker/september2020
https://www.nxtbook.com/mspc/independentbanker/august2020
https://www.nxtbook.com/mspc/independentbanker/july2020
https://www.nxtbook.com/mspc/independentbanker/june2020
https://www.nxtbook.com/mspc/independentbanker/may2020
https://www.nxtbook.com/mspc/independentbanker/april2020
https://www.nxtbook.com/mspc/independentbanker/march2020
https://www.nxtbook.com/mspc/independentbanker/february2020
https://www.nxtbook.com/mspc/independentbanker/january2020
https://www.nxtbook.com/mspc/independentbanker/december2019
https://www.nxtbook.com/mspc/independentbanker/november2019
https://www.nxtbook.com/mspc/independentbanker/october2019
https://www.nxtbook.com/mspc/independentbanker/september2019
https://www.nxtbook.com/mspc/independentbanker/august2019
https://www.nxtbook.com/mspc/independentbanker/july2019
https://www.nxtbook.com/mspc/independentbanker/june2019
https://www.nxtbook.com/mspc/independentbanker/may2019
https://www.nxtbook.com/mspc/independentbanker/april2019
https://www.nxtbook.com/mspc/independentbanker/march2019
https://www.nxtbook.com/mspc/independentbanker/february2019
https://www.nxtbook.com/mspc/independentbanker/january2019
https://www.nxtbook.com/mspc/independentbanker/december2018
https://www.nxtbook.com/mspc/independentbanker/november2018
https://www.nxtbook.com/mspc/independentbanker/october2018
https://www.nxtbook.com/mspc/independentbanker/september2018
https://www.nxtbook.com/mspc/independentbanker/august2018
https://www.nxtbook.com/mspc/independentbanker/july2018
https://www.nxtbook.com/mspc/independentbanker/june2018
https://www.nxtbook.com/mspc/independentbanker/may2018
https://www.nxtbook.com/mspc/independentbanker/april2018
https://www.nxtbook.com/mspc/independentbanker/march2018
https://www.nxtbook.com/mspc/independentbanker/february2018
https://www.nxtbook.com/mspc/independentbanker/january2018
https://www.nxtbook.com/mspc/independentbanker/december2017
https://www.nxtbook.com/mspc/independentbanker/november2017
https://www.nxtbook.com/mspc/independentbanker/october2017
https://www.nxtbook.com/mspc/independentbanker/september2017
https://www.nxtbook.com/mspc/independentbanker/august2017
https://www.nxtbook.com/mspc/independentbanker/july2017
https://www.nxtbook.com/mspc/independentbanker/june2017
https://www.nxtbook.com/mspc/independentbanker/may2017
https://www.nxtbook.com/mspc/independentbanker/april2017
https://www.nxtbookmedia.com