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.

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. ICBA Bancard’s 1,600 community bank customers have issued more than 7.3

First New Community Bank In Decades Headed To US Market

PYMNTS

is set to see its first new community bank in decades, as the Federal Deposit Insurance Corporation (FDIC) lent its approval for MOXY Bank to launch in Washington, D.C. The U.S.

Today In Data: Driving Contactless Adoption With Community Banks

PYMNTS

Community banks could put more contactless cards into the hands of consumers with the help of the Independent Community Bankers of America (ICBA). million: The minimum number of payment cards that ICBA Bancard’s community bank customers have issued.

Mastercard, Regal Help Community Banks Offer Corporate V-Cards

PYMNTS

In a press release , Regal said its agreement with Mastercard will allow banks to provide an integrated payables platform that supports virtual card payments. B2B Payments accounts payable B2B community bank corporate banking MasterCard News Regal Software virtual card What's Hot In B2B

Rebeca Romero Rainey: A community banking resolution

Independent Banker

. “We look forward to serving you and your community bank in the year ahead.”. Happy New Year, community bankers! And if you haven’t done so already, I encourage you to also come up with a community banking resolution—one that helps you flourish as a professional.

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

$175M Acquisition Turns Community Bank Into Fintech Player

Bank Innovation

Community banks can also play the fintech game. BankMobile — the digital bank, formerly a division of Customers Bancorp Inc. — was acquired by Flagship, a Florida-based community bank, for $175 million. “We

PayNet Links Community Bank BNB To Small Biz Loan Tech

PYMNTS

Small business credit analysis company PayNet is linking up with a community bank to streamline SMB lending for the institution. PayNet President William Phelan said in a statement that the partnership will allow BNB Bank to boost borrower experiences.

Chamber Of Commerce Backs Community Bank Bill

PYMNTS

Chamber of Commerce is voicing its support for legislation that would ease regulatory burdens for the nation’s community banks in an effort to improve access to funding for small business borrowers. Main Street businesses depend on community and regional banks for the financing necessary to get started, sustain operations, manage cash, make payroll and create well-paying jobs,” the letter stated. The U.S.

Community Banks Aim To Amplify Competitive Edge With FinTechs

PYMNTS

With big banks pulling back from small and medium-sized business (SMB) lending in the wake of the global financial crisis, the market was ripe for someone else to fill the credit gap. Community banks approved 49 percent of SMB loan applications in November, according to the latest data from the Biz2Credit Small Business Lending Index. But small business lending is only one part of the banking puzzle.

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. However, it does not appear that the current proposal will be modified for banks under $10B in assets.

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

Zelle Says It Welcomes Community Banks

Bank Innovation

Last week, Bank Innovation wrote about the difficulty smaller banks claim to experience offering their customers the P2P platform Zelle. The smaller financial institutions voiced concerns of long waits and an underlying bias on the part of bank-backed Zelle toward larger institutions.

Zelle Says It Welcomes Community Banks

Bank Innovation

Last week, Bank Innovation wrote about the difficulty smaller banks claim to experience offering their customers the P2P platform Zelle. The smaller financial institutions voiced concerns of long waits and an underlying bias on the part of bank-backed Zelle toward larger institutions.

Do Community Banks Really Need Zelle?

Bank Innovation

Bank-backed payment service Zelle crossed $32 billion in transactions in the last quarter, almost twice that of Venmo, but the P2P provider is not as omnipresent among banks as one would expect it to be.

Do Community Banks Really Need Zelle?

Bank Innovation

Bank-backed payment service Zelle crossed $32 billion in transactions in the last quarter, almost twice that of Venmo, but the P2P provider is not as omnipresent among banks as one would expect it to be.

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 Bank

Countering The Aging Community Bank Customer Base

Banker to Banker

There was a time when the average community bank customer was the same age as the adult general population. Now, the average community bank customer is more than 5 years older than the general population and increasing in age at a faster rate.

For Community Banks, Big Business From Small Business Credit Cards

PYMNTS

For community banks serving small- to mid-sized businesses (SMBs), training an eye on credit cards can translate into additional revenue streams and tap into an unmet need for those SMBs. Kearney found 26 percent of small business cardholders have community banking relationships in place. Only 3 percent of them, however, have their credit cards with those community banks. Digital Banking community banks Featured News ICBA Bancard News SMB Visa

Vendor Selection for Community Banks

Banker to Banker

Community banks continue to look for ways to control expenses. Banks have increased the breadth of outsourced processes and functions: everything from check processing, website management, payment solution and even some underwriting analysis and sales leads.

Community Banks Take A Swing At FinTech Collaboration

PYMNTS

Last week, P2Bi announced the rollout of a new partnership program that enables community banks to participate in its small business loan marketplace. Community banks are typically a better bet for small businesses in search of a loan, with approval rates higher than those at larger financial institutions. And while community banks’ SMB loan approval rates are still higher than those at large banks (49.1

Finastra Gains Foothold Among Community Banks with Malauzai Acquisition

Bank Innovation

Finastra, which was formed from the union of Misys and D+H, and calls itself the world’s third largest fintech company in the world, has acquired American software company Malauzai in an attempt to strengthen its foothold in the American banking market.

Community Bank Performance for 3Q 2015 [Presentation]

Banker to Banker

In order to give you the most current perspective on our banking industry, we have compiled the latest data and have attached a complete presentation at the bottom of this blog post. The net result was earnings for community banks being down.

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.

Maryland Community Bank Wades Into Cannabis Market

PYMNTS

has proven a challenging, complicated venture for the nation’s banks. As more financial institutions (FIs) warm up to the idea, one bank in Maryland is taking significant steps to address cannabis companies’ FinServ challenges. Reports in The Washington Post this week profiled Severn Savings Bank, a community bank in the state that is said to be providing services to legal marijuana businesses. B2B Payments B2B banking Cannabis News SMBs What's Hot In B2B

Mortgage Relief Recognizes Community Banks’ Unique Role

Finer Points

It was a long time coming, but persistence paid off when the Consumer Financial Protection Bureau recently updated its mortgage regulations to ease unnecessary restrictions on many community banks. Advocacy Community Banks Grassroots Regulation Regulatory Relief WashingtonUnder an interim final rule, the CFPB expanded Qualified Mortgage eligibility for balloon loans held in portfolio and exempted more rural lenders from escrow mandates. That […].

Why Community Banks Can’t Afford To ‘Wait and See’ About Faster Payment Innovations

PYMNTS

Are community banks missing the chance to climb aboard the faster payments train? With various banks and FinTechs producing innovative solutions — like mobile banking and P2P tools aimed at improving the speed of payments — the pressure is on for community banks to keep up.

The Role Of SMB Lending At Community Banks Is Changing

PYMNTS

Small business (SMB) lending is big business for community banks , which are a popular destination for small business borrowers, thanks to strong approval rates on loan applications. But new analysis from the Federal Reserve has identified a reversal in community banks’ position in the small business lending market. According to the report, small business lending at community banks dropped by 2.2 How Community Banks Interact with SMBs.

Community Bank Persistence Pays Dividends

Finer Points

It wasn’t exactly what ICBA was advocating; nevertheless, nearly all community banks scored a major victory with the industry’s hard-fought exemption from a backdoor tax hike on most members of the Federal Reserve System. Following passionate industry advocacy to scrap a Senate-passed plan that would have required all Fed-member banks to pay for federal highways […]. Advocacy Community Banks Grassroots Regulatory Relief Washington

The Advantage of LIBOR for Community Banks

Banker to Banker

Most community banks do not use LIBOR (London Interbank Offered Rate) to set loan or deposit rates, yet LIBOR is probably the most important index for community banks.

Community Bank's Favorite Loan Structure [Free Calculator]

Banker to Banker

For decades community banks have structured fixed rate loans with adjustable features. Probably the most popular structure for term credit at community banks is a 10-year fixed rate loan with a five-year reprice.

NEW REPORT: Do Community Banks Need A Faster Payments Wake-Up Call?

PYMNTS

A group of 22 global banks announced their participation in a proof of concept for cross-border payments from financial messaging service provider SWIFT. Community banks meet the millennial generation.

Community Banks, Where Moving Beyond Interest Income Is In The (Credit) Cards

PYMNTS

Think of banking and you might think of lending and deposits, where firms make money on the spread between what they pay savers and what they take in from borrowers. But banks cannot live on interest alone. Additional financial products and services must round out traditional banking activities. The community banking model is based on customer relationships and the allocation of capital and extending loans.

Loan-Loss Plan Is Direct Hit on Community Bank Lending

Finer Points

It is no wonder that the banking industry strongly opposes the Financial Accounting Standards Board’s proposed reforms to loan-loan loss reserve calculations. The proposal would force community banks, in particular, to completely overhaul their approach to lending. Accounting Advocacy Community Banks Economy Regulation Small Business LendingThe following op-ed originally appeared Nov. 9 on American Banker’s BankThink blog.

NCR Launches Business Banking Mobile For Community Banks, Credit Unions

PYMNTS

22) it launched a new app dubbed Business Banking Mobile. The app will enable community financial institutions (CFIs) to compete with larger financial institutions by providing their business banking customers with iOS and Android access to this secure and easy-to-use account management platform. Business Banking Mobile will also feature biometric authentication by incorporating Touch ID and Eyeprint ID for added security. NCR announced on Thursday (Sept.

Loan Hedging Considerations for Community Banks

Banker to Banker

In a previous blog, we described what factors community bank managers might want to consider in analyzing a loan hedging program for their specific needs.

Community Bank Performance for 2Q 2015 [Presentation]

Banker to Banker

Here is our quarterly report on banking industry trends and insights ( HERE ). In a nutshell, banking improved by most measures as the average bank became more profitable. In a somewhat rare occurrence, lending got safer, yet loan pricing on new production improved.

What community banks like so much about Northern Va.

BankThink

Community banking De novo institutions M&A Washington DC Virginia MarylandBankers are eager to expand there through M&A, de novos or other means, encouraged by strong employment and disruption created by recent consolidation.

Cutting the red tape for community banks

Sageworks

By eliminating or revising some of the items that banks must include in their call reports the FFIEC hopes to streamline the reporting and decrease the amount of time spent on them. The article allowed banking executives to weigh in on the subject. Blog Bank Credit Union

Majority of SMB Customers Are Not Pleased with Their Community Banks and Credit Unions

Bank Innovation

Bank executives from community banks and credit unions are not meeting the demands of their SMB customer as well as they think they are, according to a recent report.

Reinventing community banking

ABA Community Banking

Trio of players on keeping the best as digital moves in CSuite Community Banking. 1Community Banking

Community Banks’ Leg-Up On The SME Lending Giants

PYMNTS

Small community banks may not have the ample resources that Wells Fargo or Bank of America have to develop high-tech, experimental solutions internally. At least, Seacoast Bank VP and Digital Project Manager Jeff Lee and CEO Denny Hudson believe so. In fact, the executives recently told PYMNTS that community banks actually have an advantage over the big guys, especially when it comes to small business banking.