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.
Community Bank Customer Experience Mobile Technology 
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. Increasing role of technology. 50% of consumers now interact with their bank through mobile apps or websites weekly – up from 32% two years ago.
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Will community banks suffer from technology shortcomings?
ZootBlog
FEBRUARY 12, 2016
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. Even though less than 20 percent of the top banks in the U.S.
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.
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. A relationship-based, community focus in a digital world. learn more.
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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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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.
Americas FSI Digital Commentary: 3 Ways to Accelerate Digital Strategy in 2023
Cisco
JANUARY 10, 2023
As a change agent serving the financial services industry for over 20 years, it is a great privilege to collaborate with Bank, Insurance, and Wealth Management institutions to devise and execute digital transformation strategy, solve complex business problems, and leverage technology to strengthen business results.
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. “The By William Atkinson. Take advantage of analytics.
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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. A relationship-based, community focus in a digital world. learn more.
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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. According to internal Cornerstone research, over the past five years, out of a sample group of 34 banks that offer BaaS, NII grew 67% compared to an industry median of 31%.
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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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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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Fintech Partnerships: A competitive advantage
Abrigo
JUNE 14, 2017
Many banks and credit unions have found a path to growth via partnerships with fintechs. Technology partners offer much more than just software to banks; a fintech partnership provides delivery channels, convenience, corporate governance , advisory services, and industry data. Are customers requesting new products?
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William Mills Agency Issues Bankers as Buyers Report Which Explores Technology Decisions and Forces Impacting Innovation in 2018
William Mills
JANUARY 25, 2018
Key areas of focus include:1) the impending war for talent; 2) shift to back-office or banker technologies; 3) gap in resources between large and small financial institutions; and 4) how service professionals could be the big winner this year. The report includes industry research about what technology, solutions and services U.S.
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20 Banking Realities for 2020
Gonzobanker
JANUARY 17, 2020
Year one of the Tech Decade in Banking will bring no shortage of tension between technology investments and earnings targets. So, to get your Gonzo executive brains warmed up for a new year, I offer you 20 important banking realities for 2020 to guide your strategic execution efforts: 1.
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? Follow Mary on LinkedIn.
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How will the Apple Watch and other tech evolutions impact banking?
Abrigo
MAY 20, 2015
It’s not just the technology industry that is constantly evolving – many other industries must also remain adaptable to the changing landscape of the American consumer. One such industry is banking. Then the marketers must promote that message to both existing and potential customers.
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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.
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., Our customers are our employees,” he notes. Founded: 1949.
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. Here, things have not changed much for the industry.
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. Getting more value from existing technologies and vendor relationships. The first part isn’t particularly surprising (or newsworthy), but the second part is.
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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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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.,
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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.
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.
2020 GonzoBanker Awards
Gonzobanker
DECEMBER 22, 2020
Banks and credit unions had to fundamentally change their delivery, support and relationship management models at scopes and speeds that were unheard of. And how did community banks and credit unions respond to the COVID craziness? Jill is continually demonstrating just how loud a $300 million community bank can roar!
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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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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.
Where Are Bankers Targeting IT Investments? William Mills Agency’s Bankers as Buyers 2017 Report Now Available
William Mills
FEBRUARY 7, 2017
Free report designed for the financial industry provides vendors and bankers better technology insights and a check against their own technology priorities. Leading industry analysts, consultants, bankers and financial technology professionals share commentary as well as insights on trends for the year.
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Uncovering the Hidden Efficiencies in Loan and Deposit Operations
Gonzobanker
MARCH 6, 2020
Smarter banks focus obsessively on how they deliver value and a winning experience for customers. Others were built as a “path of least resistance” rather than discussing a technological, automated approach. Technology: The ‘Must Have’ List Is Growing. Now, it is proving to be a game changer in the banking world.
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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. The Impact on CRIF Clients. The Bottom Line.
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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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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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Union Savings Bank’s tech touch
Independent Banker
DECEMBER 31, 2022
Community banks have long been a bastion of relationship-focused service. But what happens when a community bank makes the decision to put technology—specifically, AI—at the heart of its customer service strategy? For Union Savings Bank (USB), a $3 billion-asset community bank in Danbury, Conn.,
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Community Heroes Leaving Their Mark
Social Assurance
OCTOBER 1, 2021
Maybe it’s the interactions a customer experiences while visiting the branch? Whatever it is, community heroes are constantly leaving their mark. From supporting small businesses to uplifting employees, here’s how Community Heroes Empower, Ignite, and Enable their communities: Empower.
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Welcome to New Marketing Muscle
Gonzobanker
APRIL 14, 2015
Looking around online, the closest competing offers I found were $300 from a couple of regional banks, but none from community banks or credit unions. I also noticed online that OnDeck was alongside Wells Fargo and Bank of America in the Top 5 search rankings for business loans.
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The community bank’s complete guide to building trust
Independent Banker
SEPTEMBER 30, 2021
Building trust in your institution has a lot to do with technology, from implementing strong data security practices to humanizing your online customer interactions. But for most community banks, building a trustworthy brand isn’t a conscious effort. fashioned customer service. billion-asset community bank.
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10 Big and Small Ideas From Gartner and Money 20/20 – Recap
South State Correspondent
OCTOBER 28, 2022
Gartner focused on technology infrastructure, while Money 20/20 was around fintech and payments. Small Idea – It’s Our Kid’s Technology. It was a sobering thought to realize that we are all really building most of this technology for our kids. Complicated technology sucks, but mortality sucks more. Big Idea – Trends.
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The Customer Problem Resolution Secret
South State Correspondent
MAY 18, 2022
The larger your bank, the more likely your customer is going to be satisfied with how their problem turned out. Conversely, the smaller your bank, there is a 60% correlation to being unhappy with the outcome of your resolution. Why Customer Problem Resolution Matters. Solving problems is central to customer service.
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195 FinovateSpring 2016 Live Blog – Day 2
William Mills
MAY 11, 2016
Demo: Sezzle app with knowledge based authentication to link bank accounts. As well as texting OTP to mobile phone when purchasing items. Jeff Deppen (CIO, Orrstown Bank). From Website: brandCrowder is a mobile, web-based “equity” crowdfunding platform. Katerina Frolovicheva (MD, Technologies Innovations).
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5 ways AI can improve customer service
Independent Banker
OCTOBER 31, 2022
AI can help solve customer pain points—but does it mean community banks will lose the personal touch they pride themselves on? As community bankers themselves tell us, the answer is no. The estimated amount of money banks will save by using AI applications by 2023. Carson Lappetito, Sunwest Bank. Quick Stat.
Navigating Consumer Lending Challenges for Profitability
Abrigo
AUGUST 25, 2021
Takeaway 1 Many tasks consumers once did in person have been transformed by digitalization – including retail banking. Takeaway 2 A consumer loan origination system can help FIs offer a fully digital retail lending experience. Takeaway 3 Enhancing the customer experience means delivering on customer expectations with digital offerings.
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