Strategy and Research
Strategy and Research
News Article | April 19, 2017
WASHINGTON--(BUSINESS WIRE)--The Electronic Payments Coalition (EPC) applauds Chairman Hensarling for his continued leadership to repeal the Durbin amendment and its harmful price controls. The provision for repeal in the Financial CHOICE Act 2.0 shows Congress is ready to take action on a broken promise to consumers. “Consumers, credit unions and community banks need relief from Dodd-Frank's onerous regulations, and that starts by repealing the price controls that generated a windfall for big box retailers but failed to produce meaningful savings for their customers,” said Molly Wilkinson, executive director of the Electronic Payments Coalition. “It’s time to stop the handouts to big box retailers. Repealing the Durbin amendment is the right move for consumers, small businesses, and community financial institutions.” A new study from Javelin Strategy & Research found small merchants prefer value over these price controls in their interchange partnerships. The findings in this report further underscore that this provision was for the big box retailers instead of Main Street merchants, community banks, and credit unions. Data from the Richmond Federal Reserve shows big box retailers have pocketed $42 billion and counting since the Durbin amendment’s price controls were implemented. Community banks and small businesses are not the only ones hurt by the Durbin amendment. Although big box retailers promised to pass along savings to consumers, prices were not lowered. According to a Morning Consult survey, consumers want government to stop playing favorites and get out of payments. The majority of customers believe it’s time to repeal the Durbin amendment and the restrictions unfairly placed on financial institutions. Both consumers and small businesses are suffering under the weight of these broken promises, and EPC applauds Chairman Hensarling’s leadership and efforts to repeal the Durbin Amendment. To learn more about the importance of repealing the Durbin amendment, read the new study from Javelin Strategy and Research. To learn more about the Durbin amendment’s impacts, click here. The Electronic Payments Coalition (EPC) is a coalition of payments industry stakeholders, such as credit unions, community banks, trade associations, payment card networks and banks that speaks on behalf of the payments industry to protect the value, innovation, convenience, security and competition that exists in the modern electronic payments system. The EPC educates policymakers, consumers and the media on the system’s role in economic growth and the importance of consumer choice, security, innovation and stability for the continued growth of global commerce.
News Article | May 16, 2017
The problem is clear. Workers are not saving enough for their future nor to cover emergencies that may crop up. In fact, the average personal saving rate – the amount of disposable income put towards saving – hovers around 6 percent, which is far too low. Further, 46 percent of U.S. households do not have $400 readily available to cover an emergency expense. Yet, the solution is simple. In recognition of Direct Deposit and Direct Payment via ACH Month, which is celebrated annually in May, NACHA—The Electronic Payments Association® continues to promote the value of Direct Deposit and Split Deposit, and how these tools can help increase personal savings and build wealth. “People are not saving. And, worse, they may falsely conclude that they do not earn enough to save regularly,” said Scott M. Lang, AAP, Senior Vice President, Association Services at NACHA. “But there is a way to save automatically that is also simple, safe and flexible. “Splitting their Direct Deposit offers workers an effective way to regularly put aside a fixed amount or percentage of their pay automatically and directly into savings and investment accounts for emergencies, planned expenses or retirement,” Lang said. “The importance of automatic savings for workers’ long-term financial future cannot be overstated.” According to a recent survey conducted by Javelin Strategy and Research, 82 percent of U.S. workers ─ crossing age, income and other demographic categories ─ receive their regular pay using Direct Deposit via ACH. Yet only 24 percent split their deposits, typically placing their pay in a checking account and also designating a portion of funds to go to a savings account, 401(k), a business account, money market or to a prepaid card. Of Split Deposit users, 85 percent say it is helping them to save, and 83 percent say the most common use for Split Deposits is for an emergency fund, according to the survey. For more information about Direct Deposit, Split Deposit, and saving automatically, visit ElectronicPayments.org. A toolkit of shareable resources to help celebrate Direct Deposit and Direct Payment via ACH Month is also available. Additionally, in February, NACHA and partner organizations America Saves and ePayResources launched the “Split to Save” initiative to engage businesses, consumer organizations, financial institutions, government agencies and universities, and help them support the financial health of workers. A “Split to Save” toolkit, which provides educational resources for building awareness about Direct Deposit and Split Deposit, is available for download. Follow NACHA on Twitter, LinkedIn, Facebook and YouTube. ------  Bureau of Economic Analysis, U.S. Department of Commerce, http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm.  Federal Reserve, “Report on the Economic Well-Being of U.S. Households in 2015.” About NACHA—The Electronic Payments Association Since 1974, NACHA—The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for the payment network that universally connects all 12,000 financial institutions in the U.S by moving money and information directly from one bank account to another. Financial institutions exchange 25 billion ACH payments valued at $43 trillion annually. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments, recurring and onetime payments; government, consumer and business transactions; international payments, and payments plus payment-related information. Through NACHA’s expertise and leadership, the ACH Network is now one of the largest, safest, and most reliable systems in the world, creating value and enabling innovation for all participants. Visit nacha.org for more information.
News Article | May 22, 2017
IdentityMind Global and Confirm.io, today announced a partnership that combines IdentityMind’s risk management and compliance platform with Confirm’s ID authentication APIs and SDKs. The partnership exclusively offers Confirm’s advanced document authentication technologies for US driver’s licenses and IDs within IdentityMind’s RegTech platform. Javelin Strategy and Research’s “2017 Identity Fraud Study”, found that $16 billion was stolen from 15.4 million U.S. consumers in 2016, up from $15.3 billion the prior year and amounting to $107 billion over the past six years. The partnership strengthens regulatory and compliance automation with fully integrated, real-time mobile identity authentication services in support of Know Your Customer (KYC), Sanctions and PEP screening and Fraud Prevention. For instance, account opening and customer onboarding processes require verification that the information being presented is real and can be used by the entity providing it. Confirm.io enhances IdentityMind’s Platform coverage of identity document validation, and specifically with Confirm.io’s strong support for US state driver’s licenses and state identification. “Trusted Digital Identities requires strong validation of the underlying identity attributes,” said Garrett Gafke, CEO of IdentityMind Global. “Confirm.io provides best in class identity document validation for the United States, especially for the very difficult to validate state IDs that are very common with our Millennial generation. The Confirm.io partnership also delivers on the promise of a frictionless user experience that provides the ability to understand and guard against risk while also keeping customers happy.” Confirm.io enables secure transactions between businesses and consumers by authenticating Government issued ID documents with easy-to-use mobile SDKs and RESTful APIs. Through remote identity proofing, its solution aids customers in solving the ‘Know Your Customer’ problem that exists in highly regulated industries such as banking, insurance, and healthcare. “Confirm’s ability to tie credible data to a trusted document at account origination strengthens downstream authentication checks and services. This adds tremendous value to any KYC process requiring remote identity proofing,” said Confirm’s CEO and co-founder, Bob Geiman. “The partnership provides IdentityMind Global with fast and accurate identity document data for it’s RegTech platform.” Confirm provides APIs and SDKs that help organizations rapidly validate customer identity from a driver's license or ID. The solutions utilize proprietary machine learning and computer vision technologies to conveniently and accurately capture, extract, classify and authenticate consumer identity document data for downstream authentication. IdentityMind, creator of Trusted Digital Identities (TDIs), offers a SaaS Platform for online risk management and compliance automation. IdentityMind continuously validates and risk scores online identities worldwide through its eDNA to ensure global business safety and compliance at customer onboarding and throughout their lifecycle. It securely tracks the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods, etc.) to build payment reputations, and allows companies to identity and reduce potential fraud, evaluate merchant account applications, onboard accounts, enable identity verification services, and identify potential money laundering. The Identity Bureau is a registered trademark of IdentityMind Global.
News Article | May 9, 2017
The rise of non-traditional students is real, and to compete for these students institutions need to deliver the right message to the right student on the right channel at the right time at the right price. With more than three decades of experience enrolling and supporting non-traditional students, Helix Education's May 16th webinar will deliver insights and best practices for colleges and universities to better understand the needs and motivations of these students so that they can drive more meaningful inquiries and sustainable starts. "The institutions that are achieving scalable growth among the ever-increasing, non-traditional student population are doing so with a concentrated effort on communicating their competitive differences in a way that resonates with each individual student," said Matthew Schnittman, President and CEO of Helix Education. "These schools understand why non-traditional students choose their programs, what that means for prospective students, and how to tailor their campaigns accordingly. They don't just sell the idea of a degree, but specifically how a degree from their institution can help adult students on the path to degree completion, career advancement or career change." "Attracting Today's Higher Ed Students" will explore the state of higher education marketing, brand development and marketing strategy, including: Registration for the event is open here. The webinar will be led by Helix Education's Michele Bates, Executive Director of Marketing Strategy and Research, and Chalese Eastman, AVP of Integrated Media Strategy. This fourth webinar in the series coincides with Helix Education's Enrollment Growth Playbook, which serves as a how-to guide for institutions to launch, market and grow online and on-campus programs. It is available for free download. About Helix Education Helix Education provides colleges and universities a comprehensive suite of technology and services to power data-driven enrollment growth 8x faster than the industry average. The company’s three solutions — Outsourced Program Management, Enrollment Marketing and Retention Services — have successfully helped institutions find, enroll, retain, teach and graduate post-traditional learners for more than 30 years. Its enrollment growth solutions are powered by a proprietary technology ecosystem that aggregates data across the student lifecycle to better understand an institution’s best-fit students’ journey, and implements actionable intelligence to improve outcomes for students and institutions alike. For more information, visit http://www.helixeducation.com.
Messali A.,University of Southern California |
Sanderson J.C.,VeriTech Corporation |
Goadsby P.J.,King's College London |
Buse D.C.,University of California at San Francisco |
And 8 more authors.
Headache | Year: 2016
Objective The objective of this study was to compare the societal direct and indirect costs of chronic and episodic migraine in the United States. Background Episodic and chronic migraine are distinguished by the frequency of headache-days. Chronic migraine has a greater overall impact on quality of life than does episodic migraine. Individuals with chronic migraine also use more healthcare resources (resulting in higher direct costs) and experience greater decreases in productivity (resulting in higher indirect costs) than those with episodic migraine as shown in the American Migraine Prevalence and Prevention (AMPP) Study. Methods The International Burden of Migraine Study utilized a web-based questionnaire to elicit data on several topics related to the burden of migraine illness, including health resource utilization and productivity losses. Potential survey participants were identified by Synovate Healthcare (Chicago, IL, USA) from a pool of registered panelists from various countries. The panelists were screened online to determine eligibility and to identify individuals with migraine (episodic or chronic), based on reported symptoms. Participants from the United States were divided into episodic and chronic migraine groups, based on reported headache-day per month frequency. Direct and indirect costs were estimated by applying estimated unit costs to reported headache-related productivity losses and resource use. Costs were compared between participants with episodic and chronic migraine. Results Mean [standard deviation] total annual cost of headache among people with chronic migraine ($8243 [$10,646]) was over three times that of episodic migraine ($2649 [$4634], P <.001). Participants with chronic migraine had significantly greater direct medical costs ($4943 [$6382]) and indirect (lost productivity) costs ($3300 [$6907]) than did participants with episodic migraine (direct, $1705 [$3591]; indirect, $943 [$2084]) (P <.001 for each). Unlike previous findings, direct medical costs constituted the majority of total headache-related costs for both chronic migraine (60.0%, $4943 of $8243) and episodic migraine (64.3%, $1705 of $2649) participants. A large portion of direct medical costs are attributable to pharmaceutical utilization among both chronic migraine (80%, $3925 of 4943) and episodic migraine (70%, $1196 of $1705) participants. Conclusion The results of this study build on previous results of the AMPP Study, demonstrating that headache-related direct, indirect, and total costs are significantly greater among individuals with chronic migraine than with episodic migraine in the United States. © 2016 American Headache Society.
PubMed | Health Economics and Epidemiology, Strategy and Research, VeriTech Corporation, University of California at San Francisco and 2 more.
Type: Journal Article | Journal: Headache | Year: 2016
The objective of this study was to compare the societal direct and indirect costs of chronic and episodic migraine in the United States.Episodic and chronic migraine are distinguished by the frequency of headache-days. Chronic migraine has a greater overall impact on quality of life than does episodic migraine. Individuals with chronic migraine also use more healthcare resources (resulting in higher direct costs) and experience greater decreases in productivity (resulting in higher indirect costs) than those with episodic migraine as shown in the American Migraine Prevalence and Prevention (AMPP) Study.The International Burden of Migraine Study utilized a web-based questionnaire to elicit data on several topics related to the burden of migraine illness, including health resource utilization and productivity losses. Potential survey participants were identified by Synovate Healthcare (Chicago, IL, USA) from a pool of registered panelists from various countries. The panelists were screened online to determine eligibility and to identify individuals with migraine (episodic or chronic), based on reported symptoms. Participants from the United States were divided into episodic and chronic migraine groups, based on reported headache-day per month frequency. Direct and indirect costs were estimated by applying estimated unit costs to reported headache-related productivity losses and resource use. Costs were compared between participants with episodic and chronic migraine.Mean [standard deviation] total annual cost of headache among people with chronic migraine ($8243 [$10,646]) was over three times that of episodic migraine ($2649 [$4634], P<.001). Participants with chronic migraine had significantly greater direct medical costs ($4943 [$6382]) and indirect (lost productivity) costs ($3300 [$6907]) than did participants with episodic migraine (direct, $1705 [$3591]; indirect, $943 [$2084]) (P<.001 for each). Unlike previous findings, direct medical costs constituted the majority of total headache-related costs for both chronic migraine (60.0%, $4943 of $8243) and episodic migraine (64.3%, $1705 of $2649) participants. A large portion of direct medical costs are attributable to pharmaceutical utilization among both chronic migraine (80%, $3925 of 4943) and episodic migraine (70%, $1196 of $1705) participants.The results of this study build on previous results of the AMPP Study, demonstrating that headache-related direct, indirect, and total costs are significantly greater among individuals with chronic migraine than with episodic migraine in the United States.
News Article | December 5, 2016
Loring Ward today released a special white paper on "Robo-Advisors: Looking Beyond the Low-Cost Service," which compares moderate portfolios built by the top five robo-advisors (Vanguard, Schwab, WealthFront, Betterment and Personal Capital) to a benchmark portfolio with several decades of measurable performance. Based on extensive research by Loring Ward’s Portfolio Strategy and Research Group, the white paper looks at the key characteristics of the robo-advisors’ portfolios, such as asset allocation, diversification, stock and bond risk, investment costs and overall portfolio risk and efficiency. Though the robo-advisor portfolios are generally well diversified, the white paper identifies several gaps in certain other important investment characteristics of these portfolios, including: As Sheldon McFarland, VP with Loring Ward and one of the authors of this white paper, notes, “Robo-advisors might build inexpensive portfolios, but unfortunately they are not delivering anything close to optimal portfolios. This could have a real impact on long-term investors attempting to invest for a critical life goal, such as retirement.” One of the major findings of the white paper is that the robo-advisor’s asset allocations tend to reduce the overall efficiency of their portfolios. This means investors in these portfolios might not be getting the optimum returns possible for their chosen levels of risk and may even be exposed to risks they may not fully understand. According to Loring Ward’s Chief Investment Officer, Payel Farasat, “This whitepaper shares some of the dangers of letting a computer, rather than a human advisor, determine the course of a client’s investing lifetime. This is such an important topic to our industry that we plan to further investigate whether robo-advisors are able to extract in the real world the well-known premiums that arise naturally from known behavioral finance concepts and anomalies.” Click here to view the whitepaper: "Robo-Advisors: Looking Beyond the Low-Cost Service." About Loring Ward Loring Ward (LWI Financial Inc.) is committed to creating a better wealth experience for Financial Advisors and their clients across the U.S. For over 25 years, the firm has strived to do this by empowering Advisors with Investment and Advisor Solutions that increase the probability of delivering a great experience for their clients. We have one of the largest networks of independent Advisors in the United States and are located in Silicon Valley, California. Loring Ward’s Asset Class Investing philosophy is based on almost nine decades of data, analysis and research, insights from behavioral finance, and close relationships with leading academics, including Loring Ward Investment Committee Members Dr. Meir Statman and Nobel Laureate, Dr. Harry Markowitz. As of December 2016, Loring Ward has $13.9 billion in assets under management. For more information, please visit http://www.loringward.com. LWI Financial Inc. (“Loring Ward”) is an investment adviser registered with the Securities and Exchange Commission. Securities transactions are offered through its affiliate, Loring Ward Securities Inc., member FINRA/SIPC. R16-260 (10/18).