article thumbnail

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.

article thumbnail

Fundation Pulls Community Bank Into FinTech Collaboration

PYMNTS

Large financial institutions (FIs) are increasingly turning to FinTech firms and alternative lenders to augment their small business (SMB) offerings, but community banks are beginning to get on board with the partnership strategy , too. They’re very disciplined on credit and interest rate risk,” he said.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Community Banks Voice Frustration With Core Tech Providers

PYMNTS

Community banks are voicing their frustration with what they say is a lack of competition in the market for corporate bank technology providers, reports in The Wall Street Journal said Thursday (April 11). Community banks say their services are often too expensive and can sometimes be delayed.

article thumbnail

Kearny expanding in northern New Jersey with MSB purchase

American Banker

The company will pay $94 million for a bank with operations in New Jersey's Somerset and Morris counties.

article thumbnail

Now is a prime time for digital account opening

Independent Banker

How Americans bank has been changing for years, including how they start their banking relationships. Offering the ability to open an account online can be one way to reach customers who are unable to join your community bank in person. billion-asset IncredibleBank in Wausau, Wis.

Idaho 134
article thumbnail

How to collect positive customer reviews

Independent Banker

Community banks need to pay attention to what’s being said about them in those spaces. Northpointe Bank, based in Grand Rapids, Mich., billion-asset community bank also keeps an eye on more niche websites and platforms, where it knows potential customers may be. Miller is a writer in New Jersey.

How To 127
article thumbnail

4 tips for better vendor management

Independent Banker

Community banks use dozens or even hundreds of vendors—making it critical that they have an efficient way to stay compliant, track performance and more. Some banks are using a combination of software and internal personnel and systems to do just that. billion-asset 1st Security Bank of Washington in Mountlake Terrace, Wash.,