Community Banks Accelerate FinTech Integrations

PYMNTS

For more community banks, the latter strategy can fast-track digitization initiatives. This week’s look at the latest bank-FinTech tie-ups shows Banking-as-a-Service and other FinTech players embracing smaller regional and community banks to elevate small- to medium-sized business (SMBs) and corporate banking offerings. Finastra Chosen by Community FI. People’s United Bank Links With FIS, MineralTree.

Putting the ‘Community’ into Community Banking

ABA Community Banking

Banks contribute to their communities and local organizations in ways that matter a lot during the pandemic. The post Putting the ‘Community’ into Community Banking appeared first on ABA Banking Journal.

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Why community banks are partnering with fintech startups

Bank Innovation

As big banks try to win over customers with digital upgrades that resemble slick user interfaces from fintech startups, community banks are looking at new ways to keep pace with customer expectations. Radius Bank, a one-branch Boston-based community bank with $1.2 Operations & Best Practices Premium Celent community banks Finastra First Interstate Bank independent software vendors Radius Bank regional banks software vendors

The Community Bank Contrarian

ABA Community Banking

Whether it’s buying a mortgage division in 2009 or building a diversified product set in an age of nichification, community bank CEO Luanne Cundiff zigs when pundits say to zag. The post The Community Bank Contrarian appeared first on ABA Banking Journal. ABA Banking Journal Community Banking Featured Mortgage Technology Advocacy Careers in banking Fintech Leadership Professional development Women in banking

Level Setting and Peering Around the Corner— Tips for Success in Your Organization

Speaker: Steve Andrews, President & CEO of the Western Bankers Association 

This pandemic has tested the foundation of banks and the strength of the dollar. With all of us facing the same crisis, we are left with the same key questions, "Where are we now?" "Where are we going?" "How are we going to get there?" and "What impediments must we overcome?" Join Steve Andrews, President & CEO of the Western Bankers Association, for CBB's groundbreaking webinar! This exclusive webinar will go over the insider information your bank needs for level setting and peering around the corner. Steve will provide actionable insights, best practices, and real-world examples of the changing landscape of community banking.

Why Community Banks Go Public

Banking Exchange

A local bank going public can benefit both the community and its shareholders in the long run Community Banking Bank Performance Feature Management Feature3. 1Community Banking

Community Banks Embrace Faster Payments’ Competitive Edge

PYMNTS

Community banks are pushing for a stronger role with their small business (SMB) customers. Yet, the broader perception of smaller financial institutions (FIs) in the industry is that these banks lack the resources that larger banks offer, as well as the agility of emerging FinTech firms, to promote product and service innovation to their SMB clients. banking industry is known as vast and highly fragmented, with thousands of banks in operation today.

Overcoming Lending Challenges for Community Banks

Banker to Banker

Covid-19 and the responses to the pandemic are exerting various pressures on community banks. How a community bank underwrites and books commercial credit through the end of 2020 will have a significant impact on the bank’s profits and credit quality through the entire next business cycle. In this article, we focus on four key steps of what banks can do to continue to add earning assets to their balance sheet.

Community Banks Debut FinTech Alliance

PYMNTS

To that end, news came earlier this week in the United States that a dozen community and regional banks have formed a group aimed at exploring the opportunities amid FinTech offerings. The banks will pool their resources with an eye on “share opportunity,” where smaller firms will examine specific areas of focus through the formation of small working groups. The group includes such banks as the Royal Bank of Scotland (RBS) and Santander, and FinTech firms like The ID Co.

Podcast: Five Community Bank Core Provider Strategies

ABA Community Banking

Community and midsize banks aren't one-size-fits-all, and neither are the strategies they can adopt for their core processing needs. Two community bank CIOs describe five strategies banks can pursue.

FDIC: Bank Profits Improve as Pandemic Persists; Community Banks See 10% Boost in Net Income

ABA Community Banking

FDIC-insured banks and savings institutions earned $51.2 decline from the year prior, but a significant improvement from the first half of the year, the FDIC reported today in its Quarterly Banking Profile. Community Banking Economy Newsbytes Community banking Deposit insurance

Podcast: Giving Emerging Community Bank Talent ‘Opportunities to Shine’

ABA Community Banking

The fourth season of the ABA Banking Journal Podcast kicks off with Minnesota community bank CEO Andy Schornack. The post Podcast: Giving Emerging Community Bank Talent ‘Opportunities to Shine’ appeared first on ABA Banking Journal.

Funding Circle Partners With Community Bank, INTRUST for Loans

Bank Innovation

The fintech is partnering with community bank, INTRUST Bank for this purpose, the companies announced yesterday. Exclusive Lending Online community banks fintech partnerships Funding Circle INTRUST BankSmall business lending platform Funding Circle will be working with a traditional lender to fund loans on its platform.

CFPB Names New Members to Community Bank Advisory Council

ABA Community Banking

The Consumer Financial Protection Bureau today announced the appointment of new members to its Community Bank Advisory Council. The post CFPB Names New Members to Community Bank Advisory Council appeared first on ABA Banking Journal. Community Banking Newsbytes

FIS Launches Community Banking Subscription Service

Banking Exchange

FIS has announced a subscription-based core banking solution, ClearEdge, that aims to grant U.S. community banks access to more advanced banking infrastructures Community Banking Payments Core Systems Feature3 Feature. 1Community Banking

Study Affirms Community Banks’ Small-Biz Leadership

Finer Points

It’s something ICBA and the community banking industry say all the time: community banks are the nation’s leading small-business lenders. While community banks make up less than 20 percent of the banking system’s assets, they dole out more than half of its small-business loans. Community Banks Credit Unions Economy Regulation Regulatory Relief Small Business Small Business Lending

Helping Community Banks Turn On The Innovation Switch

PYMNTS

Innovation has always been important for community banks, but the driving force of digitization over the last decade has greatly sped up the pace, said Kevin Tweddle, chief innovation officer for the Independent Community Bankers of America ( ICBA ). Community banking is no exception. While it’s a relationship business,” Tweddle said, “the evolution will lead to a high-tech, high-touch style that will become the sweet spot for community banking.”.

Wall Street’s Cohn is wrong about community banks

American Banker

The assertion by former Goldman Sachs executive Gary Cohn that smaller banks won't be viable in a high-tech world overlooks their success in partnering with fintechs, according to the Independent Community Bankers of America. FDIC Gary Cohn ICBA Community banking Community banks

Community Bank embraces digital to deliver $50M in PPP loans 

Bank Innovation

The technological upgrades Happy State Bank made prior to the COVID-19 crisis has helped the lender service and onboard customers digitally and deploy its own SBA Paycheck Protection Program platform in a matter of days, CEO J. Pat Hickman told Bank Innovation. As of Friday afternoon, the Amarillo, Texas-based bank had received more than 1,250 […].

Mnuchin: Community Banks Processed Almost All $875M+ In Relief

PYMNTS

Treasury Secretary Steven Mnuchin said community banks have helped process many of the small business Paycheck Protection Program (PPP) loans. Mnuchin said in a tweet , “#PPPloan now over $875,000,000 processed almost all from community banks! Big banks taking applications and will submitting them shortly.” The bank’s portal came online on Friday morning (April 3) at roughly 9 a.m. In a social media post, U.S.

How Community Banks Go Public

Banking Exchange

Understanding the capital, regulatory and investor needs will allow a community bank to determine the best way forward Community Banking Feature3 Feature Management. 1Community Banking

Coronavirus Response: Common Practices for Community Banks

ABA Community Banking

Nuts-and-bolts strategies to help banks respond to the coronavirus pandemic . The post Coronavirus Response: Common Practices for Community Banks appeared first on ABA Banking Journal. Community Banking Compliance and Risk Featured Human Resources Retail and Marketing Bank branches Coronavirus

For Community Banks, COVID-19 Brings Existential Concerns to Fore

ABA Community Banking

Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday by the Conference of State Bank Supervisors.

Giving Community Banks The Contactless Card Boost

PYMNTS

However, there may be an opportunity to get more contactless cards into the hands of consumers — an opportunity that involves community banks and is backed by financial incentives. That was the message of a recent PYMNTS interview between Karen Webster and Tina Giorgio, president and CEO of ICBA Bancard , the payment services subsidiary of the Independent Community Bankers of America (ICBA). ICBA Bancard’s 1,600 community bank customers have issued more than 7.3

Community banks poised to resume stock buybacks

American Banker

Many small banks are reactivating repurchase programs, signaling that capital levels remain strong and credit issues are under control. Capital Coronavirus Community banks Buybacks

Podcast: A Community Bank Coronavirus Playbook

ABA Community Banking

Amid the global coronavirus pandemic—and a massive response by policymakers—how can community banks best meet customer and employee needs while managing their balance sheets and loan portfolios? The post Podcast: A Community Bank Coronavirus Playbook appeared first on ABA Banking Journal.

Community banks get on board with bots

American Banker

Robotic process automation is normally the province of large banks, but Extraco Banks in Texas and Carter Bank in Virginia are training bots to perform repetitive, mind-numbing tasks. Community banking RPA Robotics Automation

How Crowdfunding Aims To Fill SMBs’ Community Banking Gaps

PYMNTS

Community banks are often the familiar faces of the financial services world, and when small businesses seek capital, their neighborhood financial institution can be a promising place to start. While they continue to play an important role in small business financing, the community banking market is drastically shrinking in the U.S. We’re trying to turn community members into community bankers,” he said, “and allowing them to vote with their wallet.”.

Fed Provides Temporary Relief to Community Banks With Pandemic-Inflated Assets

ABA Community Banking

The federal banking agencies today issued an interim final rule to ease the regulatory burden of community banks that have experienced sudden asset growth as a result of participation in COVID-19 relief programs like the Paycheck Protection Program.

How Community Banks are Developing Lending Opportunities

Banker to Banker

Still, the majority of banks have now eliminated two possible scenarios: 1) Best case scenario – that nothing will change from February 2020; and 2) Worst case scenario – that the pandemic will not end in the foreseeable future and banks should avoid loans and invest in riskless securities The future path of the economy is currently unpredictable.

Millennials Are the Future for Community Banks

Finer Points

And according to ICBA’s recently released 2014 American Millennials and Banking Study, this generation represents a major opportunity for community banks. Community Banks Forget what you think you know about Generation Y. The nation’s millennials—the biggest and most diverse generation of customers in our nation’s history—account for more than $1 trillion in annual purchasing power.

CECL Will Change Community Banking

Banker to Banker

We are in agreement with the ICBA that FASB’s proposed current expected credit loss (CECL) model would place tremendous costs and regulatory burdens on community banks. We also agree that CECL, as proposed, will increase reserves and negatively impact many community banks’ ability to lend and support economic growth through lending. However, it does not appear that the current proposal will be modified for banks under $10B in assets.

How To Ensure Community Banks Aren’t Left Behind In The Digitization Revolution

PYMNTS

For banks of any size, the message is clear: Digitize or risk losing customers — or even risk failure. That’s even more true for community banks, which lack the resources larger FIs have to support modernization initiatives and technology investment efforts. At the same time, the logistical challenges and competitive pressures associated with digitization remain just as pertinent for community banks. Signs Of Open Banking.

When Community Banks Should Go Public

Banking Exchange

Covid-19 and the country’s economic response has provided smaller, relationship-driven banks the opportunity to showcase their strengths Community Banking Covid19 Feature Management Financial Trends Feature3 PPP Retail Banking. 1Community Banking

ICBA: Building Bridges For The Next Generation Of Community Banks

PYMNTS

Community banking can be one of the most rewarding and most challenging areas of financial services in which to work — that’s the view, anyway, of Rebeca Romero Rainey, president and CEO of Independent Community Bankers of America (ICBA) , who recently joined the nation’s leading advocacy organization that exclusively represents community banks. She was chairman and CEO of her family’s bank before making the move to ICBA. “I