SHAZAM Advisory Council meeting highlights

The SHAZAM^® Advisory Council held its ninth scheduled meeting April 7 – 8 in Des Moines, Iowa. The council is made up of senior staff from our client base of community banks and credit unions. In the last edition of Magnify, we shared updates on key roadmap initiatives and promised a follow-up to the SAC meeting overview. Here’s what else was covered in the meeting:

Overdraft programs

The discussion on overdraft programs revealed a wide range of practices among SAC members. The meeting attendees shared their overdraft fees typically range from $5 - $30, with many aiming to remain competitive by charging lower fees. Most attendees offer overdraft privilege across accounts unless customers opt out, and some use tiered programs based on account activity. A major challenge identified by attendees is the lack of automation, with many relying on manual processes and employee oversight, which can lead to inconsistencies. While some attendees use third-party tools, many still depend on manual decisioning. Alternatives such as unsecured lines of credit and linked accounts are common, though about half the group charge transfer fees. To manage frequent overdrafts, some attendees implement daily caps and grace periods, typically allowing 24 hours for customers to correct overdrafts before fees are assessed.

Consultants

The conversation around consultants highlighted their growing role in helping attendees navigate complex decisions, particularly when evaluating core and EFT systems. Attendees typically select consultants based on reputation, referrals or cost-benefit analyses, with some relying on state association recommendations or existing vendor relationships. Consultants are valued for their industry knowledge, negotiation skills and ability to guide institutions through conversions and vendor relationships. While most attendees had positive experiences, some questioned their objectivity. Overall, the group consensus was consultants provide a worthwhile level of assurance and support.

Vendor support and documentation

Attendees expressed a strong preference for a train-the-trainer model, where vendors provide technical training to a designated financial institution trainer who then adapts the material to their internal policies and procedures. While some institutions restrict access to vendor documentation based on employee roles or security levels, others make it broadly accessible, often with permissions in place to protect sensitive information. Editable formats like Word documents and searchable content were favored, along with short, chapter-style video training. There was also interest in using in-house AI tools to support training and documentation access.

Reporting and analytics

The reporting and analytics session focused on understanding current reporting usage patterns, challenges and expectations. Most attendees review reports manually, with ease of access and speed of data delivery being the most valued features. A majority of attendees expressed a need for more training and documentation, and there was strong interest in improving navigation, adding operational reports and enhancing data transparency for self-service analytics.

Implementation experiences

Discussions around implementation experiences among attendees emphasized the importance of dedicated project managers, clear and consistent communication, detailed project plans and thorough testing. Successful implementations were characterized by strong vendor responsiveness and well-defined deliverables. Attendees prepare for implementations by involving the right staff, using project management tools and providing access to test environments. It was identified that frequent, smaller training sessions and transparent communication help onboard teams effectively. Attendees appreciate it when vendors define best practices and offer hands-on support. For a smooth transition to business as usual, attendees valued on-site vendor support, direct access to conversion teams and clear communication with staff about expectations and progress.

Looking ahead

We truly appreciate the commitment and partnership of SAC members and their institutions’ staff who contribute to the council. The feedback received in these meetings is invaluable and helps us shape our products and services to support our mission of strengthening financial institutions. If you want to learn more about topics covered in this article, please reach out to your client executive. Additionally, if you have any suggested discussion topics for future SAC meetings, please let us know.