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The rapid evolution of the payments landscape has reshaped expectations across the board. New payment methods have left legacy back-office systems in limbo, and maintaining them is challenging. Financial services companies relying on outdated systems face rising costs, liability and operational risks. Modernization has become imperative to manage the surging volume of transactions and stay competitive. BHMI is at the forefront of payments innovation with its flagship product, the Concourse Financial Software Suite™. The fully integrated platform is designed to modernize and optimize the back-office processing of electronic payments. "Modernization can't stop at the front end," says Dr. Lynne J. Baldwin, president. "The most innovative institutions are transforming their back-office operations into unified, intelligent ecosystems that offer speed, transparency and control." A major drawback of legacy platforms is their fragmented structure, which divides functions across siloed systems. One system for reconciling daily transaction data, another for assessing and applying network and interchange fees, a third for generating and managing settlement files, and another for tracking disputes and chargebacks. The result is a complex environment marked by data inconsistencies across platforms, leading to delayed reconciliation and settlement cycles, manual handoffs that introduce mistakes, limited real-time visibility into the true status of payments throughout the day, and inefficient dispute resolution processes. “Fragmentation is one of the biggest challenges we see in payment operations today,” says Michael E. Meeks, CTO of BHMI. “Institutions can’t afford to have their data, workflows, and systems disconnected. A unified back office is no longer optional—it’s essential for real-time visibility, automation, and control.”
Founded in 2018, XpertSavers helps community banks transition to a digital-first future. Created by banking and technology leaders, the firm combines execution expertise with AI-driven intelligence to deliver end-to-end digital transformation for institutions with assets between $3 billion and $20 billion. The idea emerged when CTO Mihir Shah and CEO Jennifer Armstrong identified a critical market gap. Regional and community banks face constant pressure from national players and fintech challengers, yet many institutions remain constrained by outdated platforms, fragmented vendors, and traditional marketing models. XpertSavers addresses these challenges with seamless onboarding, modernized digital channels, and measurable growth—transforming banks without compromising their service-first ethos. From Strategy to Execution—XpertSavers Provides an Enhanced End-to-End Digital Experience XpertSavers’ approach ensures digital transformation reflects each bank’s market position and competitive landscape: • Discovery & Roadmap: Deep diagnostics aligned with growth objectives. • Implementation: Scalable, secure environments integrating fintech partners, internet channels, and legacy system modernization. • Digital Growth: Targeted campaigns, real-time analytics, and audience segmentation convert digital engagement into core deposits and long-term loyalty. Real-World Impact • Flushing Bank: Achieved a 25 percent increase in internet customers by upgrading internet branch application and mobile tools. The upgrades streamlined customer interactions, extended service beyond branch networks, and created new revenue streams while strengthening existing relationships. • Rising Bank: Realized a 30 percent deposit growth, reduced marketing costs by 40 percent, and maintained high customer satisfaction. This demonstrates how digital initiatives can deliver substantial growth, improve efficiency, and build sustainable competitive advantages.
Mark Sanchioni, SVP and Chief Banking Officer, Ridgewood Savings Bank
Jerry Duan, SVP, Director, Credit Risk Models, United Community Bank
Stephanie McClendon, Chief of Community Banking, First Federal Bank
Michael Noftsger, Chief Administrative Officer (CAO), Forcht Bank
Rob Beachy, Chief Information Officer, Sturgis Bank
Christiaan ter Haar, MD, Head of Technology – CTO North America, Rabobank
Marc Ashworth, Chief Information Security Officer, First Bank
The Convergence of AI and Digital Payments
In today’s digital economy, the financial landscape is evolving faster than ever before. At the heart of this transformation lies the convergence of AI-powered digital banking and electronic payment transaction solutions, a partnership that is not just redefining how we bank, but how we live, transact, and trust technology. Artificial Intelligence has become the new engine of modern banking, seamlessly integrating with digital systems to anticipate customer needs, personalize financial experiences, and safeguard transactions with remarkable precision. From intelligent chatbots that offer round-the-clock assistance to predictive analytics that guide financial decisions, AI is reshaping banking from a reactive service into a proactive, intuitive experience. The once-static banking interface has become an intelligent ecosystem—an advisor, a risk analyst, and a customer service agent, all in one. Meanwhile, electronic payment solutions have evolved from convenience tools to critical infrastructures powering global commerce. As digital transactions replace cash and checks, the need for fast, secure, and scalable systems has never been greater. Contactless payments, peer-to-peer transfers, digital wallets, and instant cross-border settlements are no longer luxuries— they are the new standard. In this ecosystem, AI’s role becomes indispensable. Through machine learning algorithms, fraud detection models now identify anomalies within milliseconds, ensuring that billions of daily transactions remain secure and compliant. What makes this intersection transformative is not merely speed or security—it is intelligence. By leveraging real-time data, banks and payment providers can now deliver hyper-personalized offers, dynamic credit assessments, and frictionless user experiences. Consumers gain empowerment and transparency, while institutions gain efficiency and trust. The future of digital finance will depend on how effectively these two worlds—AI-driven banking and electronic payments—continue to merge. Together, they are laying the foundation for a financial ecosystem that is smarter, faster, and more inclusive than ever before. In this new paradigm, technology doesn’t just process transactions—it builds relationships, anticipates behavior, and fuels growth across every corner of the connected economy. As AI continues to evolve, so too will our definition of what it means to bank. The question is no longer whether digital finance can keep up—but how far it can take us.
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