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7 ways community banks can boost profitability

Independent Banker

of digital banking customers said they switched to digital banking because of the pandemic. Source: 2021 Provident Bank survey. These days, there’s a lot to contend with as a community bank, from changing consumer behaviors due to the pandemic to uncertainty surrounding the economy and inflation. Quick stat.

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Market your community bank with first-party data

Independent Banker

Community banks own an enviable amount of data, but not all are leveraging it to its fullest extent. By Mindy Charski People share important data about themselves with their community bank in myriad ways. We can take that data and we can reach that person online,” Catalano says. “If

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Community Bank CEO Outlook 2022: Your priorities for the new year

Independent Banker

Independent Banker ’s annual Community Bank CEO Outlook survey reveals how community bank leaders plan to leverage today’s deposit-laden banking environment to grow this year. Janet Silveria, Community Bank of Santa Maria. So, what’s at the top of community bank leaders’ to-do lists?

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Solving the Community Bank Digital Gap

Banking Exchange

Community banks are facing tremendous competitive pressures from regional, national, and global banks Technology Feature3 Fintech Feature Financial Trends Community Banking Customers Core Systems Branch Technology/ATMs Outsourcing/Cloud Tech Management Mobile Online Cards Checks/Remote Deposit Capture.

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The Impact of Mobile Card Apps On FI Customer Retention

PYMNTS

Community banks and credit unions are feeling the pressure to boost their digital card services or risk losing customers to megabanks and digital challengers, Ondot Systems ’ Chief Strategy Officer Todd Lesher told PYMNTS in a recent discussion. It’s a story told by the data itself, Lesher said. Square announced $1.3

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Regulation II Expanded to Require Two Unaffiliated Networks on Card Not Present Transactions

CFPB Monitor

On October 3, 2022, the Federal Reserve finalized a rule expanding Regulation II (Debit Card Interchange Fees and Routing), the implementing regulation for the Durbin Amendment. Federal Reserve Governor Bowman voted against the rule stating: “During the public comment process, community banks raised substantial concerns with the proposal.

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Easing SMBs’ Digital Transformations Through Online Payment Acceptance

PYMNTS

Among the numerous ways small businesses have been affected by the global pandemic, the sudden race to launch online operations has been among the most profound — and may ultimately be among the most long-lasting changes to the SMB community. “It does seem absolutely logical, up until the point that you start calculating costs.”

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