American Banker

NOVEMBER 8, 2023

The National Credit Union Administration approved the Young Community Federal Credit Union to begin operations in Kentucky soon. An organization in Maryland is shooting for a 2024 opening.

Maryland 81

Maryland Kentucky Groups Community 81

Perficient

DECEMBER 27, 2023

Navigating AML and OFAC Compliance Risks Regarding anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) compliance risks, bank executives must navigate operational and compliance challenges tied to fintech relationships. Manage third-party risks, especially for relationships involving higher-risk or critical activities.

Compliance 221

Compliance FDIC Regulation Fraud 221

Jeff For Banks

APRIL 4, 2024

Shadow Banking refers to banking-like operations that take place outside of the mainstream banking industry. Although shadow banking mostly serves larger corporations, think money market funds buying commercial paper, bankers fear the trend will continue going downstream to more traditional community bank customers.

Banking Trends 119

Banking Trends Trends Millennials Oregon 119

Abrigo

MARCH 14, 2024

Strengthening customer relationships with tangible value and personal touch Customer retention in banking can be challenging for community financial institutions. Perhaps they might aim to reduce inventory to 80 days by the end of the first quarter of 2024. Reduce operating cost while ensuring loan policy consistency.

Lending 195

Lending Strategy Community Software 195

Abrigo

APRIL 25, 2024

The Fed’s latest Small Business Credit Survey , conducted in 2023 and released in 2024, found that nearly 60% of employer firms had sought financing in the previous 12 months. At the same time, 59% pursued credit to meet operating expenses. A majority of applicants sought less than $100,000.

Lending 195

Lending Trends Capital Strategy 195

South State Correspondent

MARCH 21, 2023

The need for a known, reliable brand creates an excellent opportunity for community banks to help small business customers while building deposit balances. The ERC filing deadline is October 2024. The Risks of Processing ERC There are three material risks associated with this operation – headline, reputational, and operational.

Taxes 195

Taxes Community Bank Community Operations 195

South State Correspondent

SEPTEMBER 20, 2023

The value driver in cash management is that it is usually some sort of operating account at the bank. As such, operating accounts have low-interest rate sensitivity. We have also included the IBIS World 2024 risk ratings to provide some context for the credit and operating risk of the counterparty.

Management 195

Management Survey Industry Community Bank 195

PYMNTS

OCTOBER 12, 2020

In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instant payments market. The Timeframe . How does one then turn that into cash?

Payments 244

Payments Boston System Operations 244

PYMNTS

AUGUST 9, 2020

Most of the letters from individuals, 2,246, argued the Federal Reserve should not operate in competition with the private sector and viewed the decision to implement FedNow as an expansion that is inconsistent with its historical purpose. The Fed insists it will move ahead with the project with a target launch date for 2023 or 2024.

System 181

System Payments Operations Fraud 181

South State Correspondent

NOVEMBER 29, 2023

One of the lessons that was driven home at the recent American Banker Small Business Banking Conference in Nashville was the difference in marketing between large national banks and community banks, particularly deposit marketing. Many banks fall into the “recency trap.”

Marketing 195

Marketing Regional National Nashville 195

PYMNTS

OCTOBER 6, 2020

According to an August study of digital banking by PYMNTS, banks are closing physical branches, reducing hours of operation and encouraging customers to use their websites or mobile apps to conduct transactions and reduce face-to-face interactions between customers and staff. On Monday (Oct. 5) NCR Corp.

Digital Banking 256

Digital Banking ATM Mobile Atlanta 256

PYMNTS

AUGUST 5, 2019

Of the 350 comments received on the subject of a faster payments service representing input from over 800 organizations, Brainard said, “Ninety percent called for the Federal Reserve to operate a real-time payments service.”.

System 212

System Payments Kansas Online 212

PYMNTS

FEBRUARY 4, 2020

as well as leading regional, community and selected global banks organized to support FinTechs,” Mouilleron said. “We The New York team will handle operations in London and Dubai. “As we already serve American clients, we see huge opportunities to digitally transform corporates headquartered in the U.S.

New York 132

New York Regional Digital Banking Fintech 132

Independent Banker

FEBRUARY 28, 2022

What this has to do with community bank investment management may not be readily apparent. Belly of the curve matters to community banks. More often, the two operate independently. First, the average duration of a community bank bond portfolio is more than four years right now. In fact, the tone is about to improve.

Community Bank 91

Community Bank Community Memphis Security 91

PYMNTS

SEPTEMBER 29, 2017

in the form of smart poles that improve urban communities’ access to wireless networks and LED lighting. trillion | Estimated revenue in USD that mobile network operators stand to gain by 2026, achieved through early deployment of commercial low-power wide-area (LPWA) networks. Here are the numbers: 1.8 percent increase over 2016.

Innovation 111

Innovation Data Exercises Study 111

PYMNTS

AUGUST 6, 2019

“The Fed’s interest in faster payments was never simply as an interested, but passive, bystander … The Fed sees an opportunity to introduce competition in the faster payments space as a second operator of faster payments rails, like it is today with ACH,” she noted. Why Now For FedNow. What Comes Next .

System 214

System Payments Operations United States 214

Gonzobanker

MARCH 7, 2024

On the panel, John Spottiswood , chief operating and data officer at Jerry , recommended that businesses favor escalating the issue to humans early, then in time, expanding the bot’s ability to respond to consumers with concerns. The dealer’s bot accepted an offer of $1 for a 2024 Chevy Tahoe. Lesson (maybe) learned: Mind your scripts.

Las Vegas 156

Las Vegas Fintech Conference San Francisco 156

Independent Banker

DECEMBER 31, 2022

We recently spoke with community bank CEOs from across the country to gain insights on how they’re proactively positioning to manage risks and take advantage of growth opportunities in the coming year. Following some respite in 2022, community bankers are bracing for a tougher economic landscape ahead in 2023. By Beth Mattson-Teig.

Community Bank 91

Community Bank Community Tampa North Carolina 91

PYMNTS

AUGUST 7, 2020

The COVID-19 pandemic is taking a tremendous toll on communities across America,” Brainard said. The most recent details on FedNow come roughly a year after the central bank announced its plans to build and operate real-time rails. In a Thursday (Aug. 6) symposium highlighting the Fed’s approval of the FedNow system, Fed Gov.

America 189

America Kansas City Payments Kansas 189

PYMNTS

OCTOBER 25, 2019

The total transaction value of the fast-growing online payments industry for all products is set to surpass $6 trillion by 2024, according to our Payments and the Platform Economy Playbook. The company operates in “nearly 89 percent” of the country, with some 120,000 drivers available for work. Monetizing Travelers .

Retail 116

Retail National Mobile Security 116

South State Correspondent

JANUARY 30, 2024

In this article, we partner with Gartner to look at 2024 key IT metrics and provide strategic insight into how much your bank should be spending on IT. For perspective, 2023 and what we expect for 2024 can be characterized as keeping up with revenue. of total expenses; in 2024, this number is expected to be 11.2%.

Capital 195

Capital Operations Customer Experience Comparison 195

PYMNTS

MARCH 9, 2020

Payment scheme providers must consider how to encourage adoption, especially if operating in countries lacking a government mandate for financial institutions (FIs) to sign on. TCH paid particular attention to community banks’ and credit unions’ abilities to connect with faster payment schemes.

Strategy 202

Strategy System Payments Resources 202

Abrigo

APRIL 22, 2024

Small business lending is also a prominent line of business for many financial institutions, especially those driven by a mission to help their communities thrive. At the same time, 59% pursued credit to meet operating expenses. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Lending 243

Lending St. Louis Community Marketing 243

Bobsguide

MARCH 28, 2022

Simplifying SME lending through BaaS is expected to drive growth of 30% by 2024. • It is estimated there will be as many as 60 billion IoT devices in operation by 2025; we expect these devices to be interacting, transacting and many will need to be financed. Small businesses and entrepreneurs form the backbone of our economies.

Innovation 60

Innovation Lending social media Retail 60

South State Correspondent

MARCH 28, 2024

By partnering with community leaders, state and federal agencies, local commissions, and commercial customers, banks can be an effective conduit to leverage this public capital better while making sure the funds are fully utilized effectively in the communities we serve. Partnership with aligned community groups will be critical here.

America 195

America Strategy Taxes Community 195

PYMNTS

JUNE 23, 2017

In anticipation of a new glut of residents, some urban communities are encouraging alternatives to vehicle ownership, such as car-sharing services. These unattended vehicle solutions are geared toward urban residents who need access to a vehicle they can operate themselves but don’t want to own or lease.

Mobile 102

Mobile Indianapolis San Diego Los Angeles 102

South State Correspondent

MAY 9, 2022

In our previous article ( HERE ), we reviewed the banking industry’s cost of funding earning assets (COF), and we compared how community banks’ COF behaves relative to national banks in a rising interest rate cycle. The market anticipates about $3 trillion in total balance sheet reduction by the end of 2024.

Community Bank 195

Community Bank Community Industry Online 195

Jeff For Banks

MARCH 5, 2022

Investors have seen this movie before and are fearful of recession in 2023 or 2024. Remember that Fed policy operates with a lag. Dorothy has been with Penn Community Bank and its predecessor since November, 2004. Credit spreads have begun to widen. In just six weeks, the 2 year Treasury is up.76%, 76%, the 5 year is up.40%

Marketing 78

Marketing Policies Community Bank Community 78

Abrigo

FEBRUARY 6, 2024

Takeaway 2 Community banks may face challenges seeking reimbursement for breach of warranty claims filed with other FIs. Yet despite warnings about the high prevalence and high costs of check fraud, many banks and credit unions operate without systematic fraud prevention programs or lack the technology to combat check fraud.

Fraud 221

Fraud Training Trends Regional 221

PYMNTS

MAY 12, 2020

Fed Forms FedNow Community. The Federal Reserve Banks have recently announced the formation of a new community around its upcoming real-time payment rail, the FedNow Service. The creation of the FedNow Community group aims to promote collaboration between industry stakeholders to ensure that the product roadmap remains optimized.

Payments 130

Payments Fraud Community Boston 130

South State Correspondent

JUNE 27, 2023

While this is mostly the domain of large banks, there are three reasons why your community bank should consider adopting this language to increase future bank performance. Operational Efficiency : By using a common standard, banks can streamline their operations, reduce complexity, and simplify their infrastructure.

System 195

System Data Examples Payments 195

South State Correspondent

OCTOBER 25, 2023

We predict that banks will realize this at the end of 2024 and become more proactive in moving their customers off checks and onto ACH and instant payments. National and many community banks want to integrate into the accounting and enterprise resource planning (ERP) software (example below). This is the Rubicon in check processing.

Fraud 195

Fraud ATM Payments Management 195

Abrigo

JANUARY 22, 2024

billion in losses globally last year, according to Nasdaq’s  2024 Global Financial Crime Report. For Historically, the operational functions of fraud and AML/CFT have remained wholly or partially siloed. An informed and vigilant community is a powerful deterrent against fraud. Fraud scams and bank fraud schemes resulted in $485.6

Fraud 221

Fraud Training Risk Management Software 221

CB Insights

MARCH 19, 2019

IoT cellular connections will use 5G worldwide by 2024, according to Ericsson. 5G technology could help production operations in the manufacturing industry become more flexible and efficient, while enhancing safety and lowering costs to maintain. Major 5G network deployments are expected by 2020, and a projected 4.1B We dig in below.

Industry 78

Industry Video Mobile Technology 78

PYMNTS

JANUARY 28, 2021

And in another bit of anecdotal evidence that payments processing is in the crosshairs of financial institutions (FIs) large and small, earlier this year , Texas-based Vantage Bank Texas said it deployed CGI All Payments as part of the community bank’s digital transformation. He noted that for J.P.

Payments 151

Payments Texas Management Technology 151

Abrigo

DECEMBER 28, 2023

Papers, infographics on risk management Resources related to banking headlines were popular For banking risk and accounting staff, managing challenges tied to interest rates, liquidity, and credit portfolios will remain top-of-mind in 2024.

Resources 221

Resources Risk Management eBook Strategy 221

Accenture

AUGUST 26, 2019

Originally developed by the International Organization for Standardization (ISO) Technical Committee 68 (TC68) for financial services, and maintained internationally under ISO governance, ISO 20022 is now universally recognized as the “global, common language of financial communications” of the future.

Industry 174

Industry Payments System Guidelines 174