Listen: Community banks set to continue fintech investment
BankInovation
MARCH 10, 2022
While big banks mobilize billions in tech development, community banks are continuing their own technology journeys through fintech investment.
Opportunities in Partnership: Community Banks Can Benefit from Today’s FinTechs
Independent Banker
DECEMBER 1, 2021
Many of today’s banks have recognized this shift and are looking for new ways to attract, engage, and retain their customers, all while providing a great experience. 50% of consumers now interact with their bank through mobile apps or websites weekly – up from 32% two years ago. Increasing role of technology.
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Trending Sources
Enabling the Bank Workforce for the New Customer Experience
Banking Exchange
JUNE 19, 2019
Retail banks need creative ways to excite their workforce and train them for the new banking experience Retail Banking Financial Trends Technology Customers Human Resources Feature Management Feature3 Fintech Mobile Online Tech Management Community Banking.
GCB raises $93M to build digital tools for customers
Bank Innovation
FEBRUARY 25, 2020
With the funding, the bank plans to invest in its digital capabilities, providing services that include mobile deposits, secured and unsecured commercial loans, letters of credit and consumer loans. Bank CEO Ed Jones wants Gulf Capital to model community banking relationships, in which […].
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Community bank, hungry for market share, tees up tech launches
BankInovation
JULY 9, 2020
People’s Community Bank, a $300 million institution near of Madison, Wis.,
Will community banks suffer from technology shortcomings?
ZootBlog
FEBRUARY 12, 2016
How long should it take to add your spouse to your bank account? However, it took one full hour to accomplish this simple task at my local community bank where I have been a customer for more than a decade. The experience left me wondering, with today’s technology how could this be possible.
The ICBA 22/23 executive committee is all in
Independent Banker
MARCH 31, 2022
Executive committee members tell us what advocacy issues they’ll be focused on during their terms, while board members share their words of wisdom for up-and-coming community bankers: themselves. To sum it up, these leaders are all in and all heart for community banking. This is why sharing our customer stories is so important.
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How One Community Bank Is Reinventing CX for the Digital Age
ABA Community Banking
OCTOBER 21, 2019
From simplified 10-step online account openings, to value-added robo-advising, to “certified digital bankers,” OceanFirst Bank delivers a new community banking experience. The post How One Community Bank Is Reinventing CX for the Digital Age appeared first on ABA Banking Journal.
The Holy Quest for CRM in Anytown, USA
Gonzobanker
APRIL 25, 2024
Once upon a time, First Southern Farmers, Merchants & Community Bank & Trust (or FSFMCBT, for short), a community bank in Anytown, USA, was renowned for its neighborly charm. When Calvin DoRight founded the bank in 1948, delivering exceptional customer service was his dream.
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Using digital lending helps to reach small businesses
Independent Banker
OCTOBER 31, 2022
We spoke with industry specialists about the priorities for community banks as they build a digital loan process for small businesses. It’s critical for community banks to have online loan applications, process automation staff skilled in digitization and more. Doing so can help community banks: Optimize the loan cycle.
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Podcast: How Digital Banking Transformation Paid Off in the Pandemic
ABA Community Banking
JULY 15, 2020
When COVID-19 accelerated customer movement into mobile and online banking solutions, and triggered consumers to push their funds into bank accounts, banks that had made investments in the digital customer experience were positioned to capitalize.
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Ondot’s New Cloud Service Taps Digital Innovation For Banks
PYMNTS
JULY 16, 2019
Banks and credit unions looking for safer and more efficient digital and mobile services for debit and credit cards can now turn to the cloud. One of the challenges regional and community banks and credit unions face is the complexity of physical data integration in their data centers,” said Prasanna Narayan, head of product at Ondot.
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Americas FSI Digital Commentary: 3 Ways to Accelerate Digital Strategy in 2023
Cisco
JANUARY 10, 2023
Whether a community bank or a credit union, regional insurer, or multi-national financial institution, cross-functional engagement with champions, key influencers and ultimate decision-makers also helps to eliminate silos inherent in the financial services industry.
The BaaS Gold Rush is On
Gonzobanker
FEBRUARY 23, 2022
Early adopters are earning prestige while investors and a hoard of community banks explore the opportunity to tap into this new source of revenue. Bank execs looking to champion a BaaS initiative must find the balance between the traditional business case model and an innovative investment strategy to drive future growth.
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Stealthy shopping for better service
Independent Banker
APRIL 30, 2022
While most of Alpine Bank’s in-lobby “shops” are carried out here at its Glenwood Springs branch, the program also has an online element. It’s no secret why Alpine Bank’s mystery shopper program has helped the community bank meet and exceed customer expectations over the past two decades. Name: Alpine Bank.
Why OceanFirst vets all job candidates for video conferencing skills
Bank Innovation
JULY 26, 2019
OceanFirst Bank is seeing more consumers and businesses choosing to interact with the bank via video and, as a result, it is preparing for a future when bankers will be comfortable working in that channel. based community bank recently trained all 538 of its customer-facing employees in digital banking with a seven-week […].
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How CFIs Can Remain Relationship-Focused in a Digital World
Abrigo
SEPTEMBER 2, 2020
Key Takeaways With more customers leveraging channels like online and mobile banking, community financial institutions are trying to solve how to maintain their hallmark community focus in an increasingly digital world. See how digitization can improve customer experiences. learn more.
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The case for end-to-end digital lending
Independent Banker
OCTOBER 31, 2021
“I’m not sure how we would have processed all of the PPP loans and everything else in the last 18 months without some of the technology that we have implemented,” says Chris Jundt, senior vice president and chief lending officer at First State Bank & Trust. Northpointe Bank in Grand Rapids, Mich., Cashing in on efficiencies.
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How CFIs Can Remain Relationship-Focused in a Digital World
Abrigo
SEPTEMBER 2, 2020
Key Takeaways With more customers leveraging channels like online and mobile banking, community financial institutions are trying to solve how to maintain their hallmark community focus in an increasingly digital world. See how digitization can improve customer experiences. learn more.
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Why Retail Banking Needs a Reputation Rehab
PYMNTS
JUNE 14, 2019
The study didn’t examine in-depth why particular banks outperformed others. It’s not a stretch, though, to imagine that banks that resonate with customers for courtesy and competence on-site are also attuned to the digital customer experience. Customer experience in all channels directly affects satisfaction.
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FIs line up to roll out stand-alone apps with HTMA
BankInovation
JUNE 12, 2020
First Bank is the latest in a number of community banks and credit unions to roll out stand-alone apps through the Ann Arbor, Mich.-based based HT Mobile Apps (HTMA).
20 Banking Realities for 2020
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. The delay has been too long.
Who Owns Digital? Ugh, That’s the Problem for Bankers
Gonzobanker
JULY 20, 2022
Bank executives are coming to understand that in today’s world, the customer experience (CX) is the product, although not all have made a serious commitment to address newfound competition. Experience design is a specific skillset that is needed to steer the execution of a bank’s digital strategy. Among 300 U.S.
36 Hours at Fintech Meetup: Three Themes from the Las Vegas Event
Gonzobanker
MARCH 7, 2024
The experience felt akin to entering a mosh pit but instead of musicians, you are in it with bankers and entrepreneurs and there are chairs. From panels to keynotes to hallways, here are a few things that caught my attention: AI: Next-gen customer experience?
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Two Executive Views of Digital Transformation, and Why They Both Matter
Gonzobanker
MARCH 24, 2021
Reality According to Customer Experience Executives. Executives at the financial institution who have responsibility for customer service, digital banking and retail sales have one perspective. Community banks and credit unions, in total, have 56 million. It involves trial and error.
Fintech Partnerships: A competitive advantage
Abrigo
JUNE 14, 2017
Software solutions can both make your team more efficient and improve the customer experience. Understand their needs: Evaluate the demographics of your customers and determine their needs. Do customers want a faster or more user-friendly approval cycle? Are customers requesting new products?
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How will the Apple Watch and other tech evolutions impact banking?
Abrigo
MAY 20, 2015
When the Apple Watch hits retail shelves within the next few weeks, chief technology officers and developers at financial institutions will be working to make sure that their mobile app translates to the latest wearable tech. Then the marketers must promote that message to both existing and potential customers.
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Innovation All the Time
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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At the Speed of Tech
Independent Banker
OCTOBER 29, 2014
Employees serve the bank’s customers. If we serve our employees, they can do a better job serving our customers.” Jason Lord, Sunmark Community Bank. SunMark Community Bank. At SunMark Community Bank in Hawkinsville, Ga., Mobile technology will make it convenient for the customer.
Modern Core Systems – It’s Time to Get a “Sidecar”
South State Correspondent
AUGUST 10, 2023
In this article, we argue why banks should consider a modern core system in the form of a sidecar as part of their long-term strategy. Understanding A Core System In its purest form, a bank’s core system is a ledger to keep track of accounts and balances. A typical community bank may pay $1.5M
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How 1-star reviews can lead to 5-star service
American Banker
JULY 31, 2020
Heritage Bank and Dime Community Bank are among those financial services firms taking online and app-store reviews seriously. Here’s why all banks should pay attention.
Thoughts from American Banker Retail Banking Conference 2015
Celent Banking
MARCH 16, 2015
It´s not about doing everything from every channel—it´s about optimizing the customer experience across the variety of methods used to interact with the retailer (or bank). Community banks differentiating from large institutions : This was a common thread running throughout the presentations.
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100 Ondot CEO: Rewards Are ‘Table Stakes’ — Cardholders Now Expect Experiences
PYMNTS
JANUARY 8, 2019
The increasing reliance of payments and commerce on mobile devices renders location another important tool in making the three pillars of the customer relationship satisfying and relevant. Kennedy International Airport and having a prompt appear on his mobile phone for a “cigar store near the airport,” he said. “It
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Is Online Banking Getting Old?
Cisco
JUNE 12, 2017
Many years ago, my family used to drive to our local community bank to cash checks, make deposits, and pay bills. My grandmother would wait in a longer line to see her favorite teller. My grandfather developed a close relationship with the loan officer, who also helped several family friends buy a car or a […].
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Opening a new bank account with no human contact
Celent Banking
AUGUST 31, 2015
A checking account applicant doesn’t care how hard it is to change processes, doesn’t know how difficult it can be to deal with compliance, or understand why banks have to collect so much information when he is the one giving them money. The methodology is unapologetically customer-centric. Customers, however, don’t care.
How Can Banks Thrive in the Next Five Years?
Jeff For Banks
JULY 5, 2022
Two percent is a big matzah ball out there to overcome and compete with Ally Bank. So banks, even community banks like [bank name] must take a sharp pencil to prune their branch network to compete with the higher interest rates of online banks, make investments in people and technology, and deliver to their shareholders.
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78 Body Armor
Independent Banker
MARCH 15, 2015
Technology companies are releasing ever-more sophisticated and accessible biometric authentication systems for banks, from real-time voice recognition, to fingerprint and ear scans, to facial scans via selfies, to detecting an individual’s particular behavior patterns. Avivah Litan, a technology analyst at Gartner Inc. in Potomac, Md.,
Body Armor
Independent Banker
FEBRUARY 24, 2015
Technology companies are releasing ever-more sophisticated and accessible biometric authentication systems for banks, from real-time voice recognition, to fingerprint and ear scans, to facial scans via selfies, to detecting an individual’s particular behavior patterns. Avivah Litan, a technology analyst at Gartner Inc. in Potomac, Md.,
William Mills Agency Issues Bankers as Buyers Report Which Explores Technology Decisions and Forces Impacting Innovation in 2018
William Mills
JANUARY 25, 2018
Sample findings include: James Van Dyke, CEO of Futurion, says that large Customer Experience (CX) projects take 21.5 Sample findings include: James Van Dyke, CEO of Futurion, says that large Customer Experience (CX) projects take 21.5 Mobile Developments. Mobile Payments. Community Banks.
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Where Are Bankers Targeting IT Investments? William Mills Agency’s Bankers as Buyers 2017 Report Now Available
William Mills
FEBRUARY 7, 2017
Key trends in this year’s report include the continued evolution of payments technology, increased adoption of self-service and innovative branch automation technology, and further enhancements to mobile banking – all converging as part of an overlying strategy to improve the customer experience.
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Thoma Bravo acquires MeridianLink/CRIF Lending. So what?
Gonzobanker
JUNE 18, 2018
CRIF’s ACTion product is its newest platform, currently being pitched to community banks and credit unions. As banks look to upgrade their customer experience platforms, we are seeing three times as many online origination selections as core system selections.
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Why modern banks are (still) investing in brick-and-mortar branches
Cisco
AUGUST 16, 2019
Chase might be the exception, pushing ahead with 123 new banks in the last three years, compared to a more modest 54 from BofA and 45 from Wells Fargo. Even community banks and credit unions keep building slowly, if only one or two branches a year.
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The Modern Currency
Independent Banker
FEBRUARY 3, 2016
By capturing and analyzing each customer relationship and its behavioral patterns, in real-time, integrated CRMs allow all bank staff to see the data and use it to create a truly exceptional customer experience, leading to higher wallet share, increased loan growth, better customer acquisition and healthier deposits.
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Show Me the Money: Banks and Credit Unions Need to Establish a Chief Revenue Officer Position
Gonzobanker
FEBRUARY 11, 2021
There’s a saying that “some things never change,” and when it comes to mid-size banks’ and credit unions’ technology priorities, there’s some truth there. Improving the customer experience” has been financial institutions’ (FIs) top tech priority for the past three years with roughly three-quarters of institutions citing it as a top priority.
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