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December 2024 |
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Bankers' Bank of Kansas Upcoming Closures:
Closing at 4:30 p.m. on Tuesday, December 31, 2024. -- Wires/Instant payment settlements received after 4:30 p.m. will be credited on January 2, 2025.
Closed Wednesday, January 1, 2025, in observation of New Years Day. We will reopen for business on Thursday, January 2.
Closed Monday, January 20, 2025, in observation of Martin Luther King Jr. Day. We will reopen for business on Tuesday, January 21. |
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Instant Payments:
Let's Clear Up Some Confusion!
Is it a faster payment or an instant payment? The main distinction between faster payments and instant payments lies in how quickly the customer receives their money and how fast the transaction settles at the financial institutions. Faster payments, like Same-Day ACH, Venmo, PayPal, Cash App, and Zelle, may appear instant due to the rapid availability of funds for the consumer; however, they are not truly instant since settlement can experience delays. On the other hand, instant payments, such as FedNow and Real Time Payments (RTP), allow consumers or businesses to receive funds immediately, with settlement occurring simultaneously with the transaction at the institution. |
| Continue Reading ›› |
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ISO 20022 Wire Bulletin
Training and Resources for A Smooth Transition |
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ISO 20022 is an international standard that we must adhere to beginning March 10, 2025. The standard provides us with consistent messaging, enhanced data capabilities, adaptability, global adoption and ensures that our wire transactions are future-proofed for the evolving global economy. *This change has no impact on transactions sent through Currency Exchange International.
Beginning January 7, 2025, Bankers’ Bank of Kansas will be rolling out an informative training guide each Tuesday to answer all of your questions and ease your transition.
Our first priority is reaching all the necessary individuals at your institution with these updates. If you want to confirm or add your team members to our communication list, please reach out to us at communications@bbok.com.
You can expect to receive emails, videos, and live webinars to ensure that your bank is fully prepared for the upcoming change on March 10, 2025. Check out the ISO 20022 Bulletin each Tuesday and view the full communications schedule by visiting BBOK's ISO 20022 Resources Page. |
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Meet the Team:
Rachel Walcher
Meet Rachel Walcher, Electronic Banking Specialist at Bankers’ Bank of Kansas who has been dedicated to serving community banking customers since 2018. When Rachel joined BBOK, she was originally the front desk receptionist. Prior to her career with BBOK, Rachel spent ten years in the marketing department for a regional cable company. When asked about her favorite aspect of working for BBOK, she shared, “I really enjoy helping our customers, gathering information, and investigating to find out an answer for them! I feel like I am an extension of their local team. |
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I’ve never met face to face with many of them and yet have known them for years.” Rachel has lived in the Wichita area her whole life, growing up in Derby, KS. In her free time, she enjoys listening to podcasts, watching true crime documentaries, and reality TV. “Something is always playing!” When her podcasts or documentaries are playing, she is also working on home projects or organizing and rearranging her home. |
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Compliance Corner:
Compliance Regulation Reminders for 2025
Wouldn’t it be nice if you could look into a crystal ball and know what’s coming your way in compliance? We usually have a general idea, but there is always a possibility for changes to occur. As we move into the new year here are a couple of regulations to keep on your radar:
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Tracy's Tips:
ISO 20022 Compliance Tips
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Make sure your staff are reviewing the ISO 20022 Wire Bulletin communications sent out by BBOK
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Review the training videos sent in the weekly ISO 20022 Wire Bulletin (also available on the ISO 20022 Resources Page)
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Ask questions
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Update your templates as necessary
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Review your forms and make changes as necessary
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Review any online mobile or desktop platforms that you offer wires through
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Review any wire interfaces with your core
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Innovate 2025: BBOK Operations Summit Registration Opens Soon!
BBOK's first Operations Summit - Innovate 2025 - is taking place on Wednesday, April 23, 2025. Registration will open in a few short days with an early bird registration special. |
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Learn More » |
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Our mailing address is:
Bankers' Bank of Kansas | 555 N Woodlawn, Bldg 5 | Wichita, KS 67208 US |
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Bankers' Bank of Kansas, 555 N Woodlawn BLDG 5, Wichita, KS 67208, United States |
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