Independent Banker

APRIL 30, 2022

As consumers’ changing preferences prompt community banks to deliver new technologies, here are some of the top trends to keep your eye on. Let’s look at a few of these trends, how community banks can determine if they’re right for them and how to get on board. By Mary Yerkes. are now contactless.

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Trends Payments Community Bank Community 144

Gonzobanker

SEPTEMBER 14, 2023

But that doesn’t mean bank execs can give up. We’re in an era where competitors include Square, PayPal, Apple and Chime, and they’re guzzling up customers. According to Cornerstone Advisors research, 47% of consumer checking accounts opened in 2023 are at fintech companies or online banks (not traditional banks).

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How To New Hampshire Oklahoma Fintech 109

Independent Banker

AUGUST 31, 2022

So how do social payments fit in community banks’ long-term future? PayPal was the first company to offer this service, but with the explosion of social media, Facebook, Zelle, Square Cash App, Venmo, Apple Pay, Google Wallet and Twitter all support the feature today,” sums up ICBA Bancard president and CEO Tina Giorgio.

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Capital Payments social media Community Bank 94

PYMNTS

FEBRUARY 19, 2018

With the advent of emerging FinTech startups, banks face some competition for payments. When a consumer or a company wants to send a payment, they can now do so instantly from their smartphone with services such as Apple Pay or Venmo. Since Apple launched Apple Pay in the U.S., About two in 10 — or 17.8

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Payments Apple Comparison Virginia 144

PYMNTS

DECEMBER 7, 2018

Community Bank of the Bay. Community First Credit Union (OH). Evans Bank. Federated Bank. First Bank of Boaz. First National Bank of Milaca. Grand Savings Bank. Greater Cleveland Community Credit Union. Greenleaf Wayside Bank. Hometown Community Banks.

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PYMNTS

MARCH 11, 2020

As Good told PYMNTS, frictionless payments can be defined as payment experiences that are seamless because they remove pain points such as handling cash, entering PINs or wielding physical cards. Making the necessary investments is especially challenging for smaller community banks and credit unions (CUs), Good maintained.

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PYMNTS

JULY 17, 2020

He said that while small banks, credit unions (CUs) and regional players deeply fear being swept aside by the great digitalization wave that the pandemic has set off, their concerns aren’t actually unique to the financial industry’s smaller end. Rather, providers like Ondot can build a digital layer on top of an FI’s existing card portfolio.

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Bank Innovation

FEBRUARY 11, 2019

Cambr, a cloud-based platform powered by investment firm StoneCastle and digital banking software provider Q2 Holdings, is helping neo-banks and fintechs launch and scale up through a network of 850 community banks.

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Independent Banker

OCTOBER 29, 2014

The latest twists came in September, when one of the biggest technology and payments events of the year featured the announcement of Apple Inc.’s s entry into the payments business with Apple Pay. So where do ballyhooed mobile banking and payments developments among the biggest players leave community banks?

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PYMNTS

FEBRUARY 4, 2019

consumers currently favor paying via credit card. The report also found that credit cards appear to be the most popular payment medium for online retail, travel bill payments and digital content purchases. . Card payments in general — including those made by credit, debit and prepaid cards — have had strong showings in the U.S.

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Abrigo

JANUARY 18, 2017

Technology that helps create cash flow • Smartphone-enabled credit card readers : These help businesses connect with new customers at trade shows, conferences and other events; make it easier for clients to purchase because of the expanded payment option (think of a salesperson at a client’s location).

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PYMNTS

MARCH 18, 2019

Connecting these two dots suggests a few important things that, for banks and card networks, might be the 2020 hindsight that could have come in handy had they stopped to look backwards a few years ago: That the Fed has much more than a passing interest in how faster payments are run in the U.S. A Couple of Important Dots.

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PYMNTS

SEPTEMBER 30, 2020

The wave of digitization that has picked up incredible speed in banking over the past half year isn’t strictly a new trend, Randy Piatt , head of product solutions for Ondot Systems , told PYMNTS. Morgan Chase, Bank of America, etc. — and the digital challenger banks. He said banks must do three key things to make that happen.

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Gonzobanker

JANUARY 17, 2020

In the soon to be released What’s Going On In Banking study, Cornerstone ’s Ron Shevlin shows that both bank and credit union execs are most fearful of big tech (Amazon Prime, Venmo, Apple Card) primarily because of their great data reach and ability to drive customer experience.

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PYMNTS

OCTOBER 17, 2017

Walmart claimed it wanted to leverage the proposed bank mainly for the purpose of lowering costs of its backroom processing of check and credit card transactions and to offer high-interest certificates of deposits. Cole said that would kick open the door for others who have a reasonable interest in operating a bank. “If

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PYMNTS

JUNE 2, 2020

Drilling down a bit into various FIs, she said that credit unions (CUs) have done well in making the leap toward financial services done in bits and bytes, and that community banks are still “coming along” in transitioning to the digital realm. Moving Toward Contactless. The answer has been decided in favor of both options.

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NCR

MAY 9, 2017

Most community banks and credit unions have only one app, their banking transaction app. Hawaii National Bank’s Hawaii Score enables existing bank customers and non-customers the capability to access a TransUnion credit report and score without the need for a credit card or an existing account with Hawaii National Bank.

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PYMNTS

MAY 31, 2017

Debit cards, default cards, banks both bricks-and-mortar and digital. That brings up some questions for banks: What are the opportunities for banks with debit, and with branches, and even with ATMs? Debit card usage is habit-driven, he said, and habit has grown roots over the last several years.

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ATM Millennials Cards Management 100

Gonzobanker

NOVEMBER 28, 2017

What bankers can control is net new checking accounts, active cards in wallet, and transaction volumes per month. But many community banks and credit unions have done very well targeting market segments that respond to cash-back programs, or no rewards program at all. Sure, airline and hotel rewards junkies are out of reach.

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Payments Fraud Cards Strategy 87

Long Lasting Ideas

JANUARY 5, 2015

As the years passed a kid who opened a savings account at 10 opened a checking account or a student loan at the same bank before heading off to college at 18. In the age of Apple Pay, Google Wallet, and online banking, the old assumptions are shattered. Be the first banker in town to endorse and introduce Apple Pay.

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NCR

MARCH 6, 2017

A ‘table-stakes offering’ The Debit Issuer Study encompassed 72 FIs – including large banks, community banks and credit unions – and found that more institutions are making it possible for customers to complete point-of-sale (POS) transactions with a mobile phone.

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Mobile Payments Study Samsung 85

Independent Banker

NOVEMBER 25, 2015

Even with technology’s increasing influence on retail banking, it’s not typical for a community bank to have one of its most senior and trusted executives concentrate primarily on leading consumer product and payments innovation. billion-asset, 85-branch community bank based in Rockland, Mass., is not typical.

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NCR

SEPTEMBER 29, 2016

A ‘table-stakes offering’ The latest Debit Issuer Study encompassed 72 FIs – including large banks, community banks and credit unions – and found that more institutions are making it possible for customers to complete point-of-sale (POS) transactions with a mobile phone. transactions for Apple Pay.

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Mobile Payments Samsung Apple 40

FICO

FEBRUARY 5, 2021

Obviously banks would compete amongst each other for those relationships, but the terms of that competition were well defined and understood. A customer would have a primary bank, where a majority of their deposits would sit. Providers would fight for top-of-wallet status for their credit cards and debit cards.

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Millennials social media Fintech Examples 52

Gonzobanker

DECEMBER 17, 2021

Goes to Larry Mazza and the crew at MVB Bank in West Virginia. Based on a clearly defined strategy, this team has established a dedicated fintech group that offers services ranging from BaaS to sponsoring card issuance and lending, to providing crypto services, to offering niche partnerships to the gaming industry. 82% to over 2.3%

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Independent Banker

FEBRUARY 24, 2016

Tokenization returns to card-security spotlight after smart chips. Now that many community banks have issued credit and debit cards with anti-skimming smart chips, the industry is returning to an earlier focus on another card security measure: tokenization. By Elizabeth Judd and Tim Cook. Liang Han, ICBA Bancard.

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Cards Community Bank Community Mobile 70

William Mills

MAY 11, 2016

Credit cards offer rewards but over 60% of payments are made on debit cards. Demo: Sezzle app with knowledge based authentication to link bank accounts. Demoing first with apple watch. Is this the first time we have seen an apple watch as apart of a demo today? Plus the 1% rewards. Diana Chin (HR & Operations).

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South State Correspondent

OCTOBER 25, 2023

The rise of card-not-present transactions for phone and then e-commerce, starting in 1994, cannibalized check volume, as did Paypal, retail ACH for phone and internet transactions in 1998. The debit card started to rise in popularity in 2004, as did an explosion of ATMs in 2005, affording the general population more access to cash.

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PYMNTS

APRIL 23, 2020

The deal would give SoFi increased access to application programming interfaces (APIs) that in turn can let other firms offer financial products such as virtual cards and checking accounts. percent of consumers are either “very” or “extremely” likely to use or already use national banks, and 60.1 Our survey shows that 64.2

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Gonzobanker

DECEMBER 20, 2019

. ————————————————————————— The ‘En Vogue’ Trend of the Year – Credit unions buying community banks. … It has to be more than banner ads for credit cards you already have.”

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PYMNTS

NOVEMBER 13, 2019

Edwards discussed the range of faster payment rails available for payers today, including cards, Nacha’s Same Day ACH, The Clearing House’s RTP network, the Federal Reserve’s upcoming FedNow service and a slew of FinTech services looking to nix the reliance on banks to move money more quickly. ” In the U.S.,

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Gonzobanker

DECEMBER 22, 2015

Now, to avoid any cue card and teleprompter issues, we’ll just go with the written list again this year. THE BANKING AWARDS. It’s hard for any banker to avoid gulping at the sheer long-term performance of George Gleason II and his team at the Bank of the Ozarks. Community bank marketing resources. Bravo OZRK!

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Community Bank Apple Community Technology 60

Gonzobanker

DECEMBER 22, 2014

Bank Acquisition of the Year - BB&T Corp. Nice community bank culture fit between the two as well. Bank Merger of the Year – California United Bank and 1 st Enterprise Bank in Los Angeles. And won’t address the biggest area of fraud growth, which is card-not-present. Contract Negotiation.

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Los Angeles Apple Risk Management California 101

Gonzobanker

NOVEMBER 18, 2014

Pointing to creating sales opportunities with branch traffic declines, Verba talked about the power of instant issue/replacement debit cards and 1 million gift cards issued a year. GonzoBankers Cynthia McAree and Jennifer Peart Hurst from Apple FCU check out the Expo. Maybe this was as it should have been.

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Chicago Retail Branch Design Training 98

Gonzobanker

DECEMBER 14, 2023

Not the financial industry’s “Troublemakers ” – those regional and community banks, credit unions and supporting fintech entrepreneurs who continue to engage customers and communities and find niches that keep the grassroots of our country’s financial system alive and kicking. The Bank Regulator Working for Merchants Award!

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Gonzobanker

DECEMBER 19, 2022

Financial institutions that relied on mortgage banking fee income as a key earnings component have been left to make big adjustments. As if that wasn’t enough, regulators took a sledgehammer to debit fee income with Reg II changes that will begin reducing card-not-present interchange fees starting in July 2023. Goes to Sen.

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Community Fintech Industry Innovation 216

Gonzobanker

DECEMBER 20, 2018

Despite some controversy about the deal bidding structure, the point is that MB got close to $5 billion for the franchise and locked in an exchange rate before the bank equity market softened. Bank Purchase of the Year. CVB Financial acquires Community Bank. Former Apple exec Guy Kawasaki at Financial Brand Forum.

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Fintech Conference Innovation Community 105