Community Banks Accelerate FinTech Integrations


For more community banks, the latter strategy can fast-track digitization initiatives. Finastra Chosen by Community FI. Community bank Five Star Bank is strengthening its card offerings through a partnership with Coserv , according to a recent press release.

Rebeca Romero Rainey: Cornerstones of the community

Independent Banker

“As the cornerstones of the community, community bankers offer a light in the darkness of hard times.”. Bolstered by the unfailing dedication of community banks, our communities will continue to weather the storm. How do we support our communities in new ways?

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Mastercard Commits $500M To Boost Black Communities, Businesses


Mastercard said it will invest $500 million in Black communities across the U.S. We have an obligation … to be part of the positive change Black communities so rightly need now," said Ajay Banga , Mastercard CEO. "We

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.

Marketing-Led Post-COVID-19 Growth Strategies

Businesses are laying off workers, shutting their doors (some permanently), and struggling to react to the radical destruction that coronavirus (COVID-19) is doing to our society and communities. Most have already sustained massive damage, and we still have yet to see the scope of impact of the global pandemic that has upended the globe. Any return to normalcy may seem far-off, but sales and marketing are on the front lines of restarting the economy. When the dust settles, we have a responsibility to turn our shock and grief into fierce determination, and lead the charge of responsible, strategic, sustainable future growth. However, there’s no team better suited to lead that charge than the marketing department. Marketers are uniquely positioned to provide creative solutions to aid their organization in times of change and chart a course for navigating success.

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.

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.

Oregon Community Credit Union launches digital platform

Bank Innovation

Oregon Community Credit Union (OCCU) has launched phase one of its digital platform, a move meant to “set the foundation” for the credit union’s new focus toward automation, Chris Whittaker, vice president of consumer lending, told sister publication Auto Finance News on Monday. Carousel Innovation Strategy Lending Premium Product Design Retail Banking Auto Finance News credit unions Oregon Community Credit Union

Oregon 150

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

Malls Debate Turns To Community Planning


The risk of closing malls, the report said, has the potential to reshape entire communities, which are debating whether abandoned malls can be turned into office space or affordable housing. Retail community planning malls News real estate

Mall of America To Provide 'Community Commons' For Local Companies


To help local businesses encountering difficulty because of the coronavirus or civil unrest, the Mall of America is contributing a 5,000-square-foot retail space to local businesses called the Community Commons.

Community Banks Debut FinTech Alliance


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.

OnDeck’s Noah Breslow on building a community business bank

Bank Innovation

Small business lending company OnDeck is expanding its ecosystem of products. Through its application for a bank charter, the company wants to become a full-service digital bank for small businesses it says are overlooked by traditional banks.

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

Community Banks Embrace Faster Payments’ Competitive Edge


Community banks are pushing for a stronger role with their small business (SMB) customers. However, through an embrace of FinTech collaboration and industry consolidation, community banks appear poised to further dispel assumptions of a lack of digitization. However, the number of banks has steadily declined over the years, partly driven by merger and acquisition (M&A) activity — with much of that consolidation occurring in the community bank market.

FIS Launches Community Banking Subscription Service

Banking Exchange

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

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


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! In a social media post, U.S.

$175M Acquisition Turns Community Bank Into Fintech Player

Bank Innovation

Community banks can also play the fintech game. — was acquired by Flagship, a Florida-based community bank, for $175 million. “We Compliance Exclusive Innovations Mobile Online Operations Retail Technology AI Alexa BankMobile community banks digital banking Dodd-Frank Financial Regulation Flagship Community Bank online bankingBankMobile — the digital bank, formerly a division of Customers Bancorp Inc.

Fed Launches FedNow Community For Instant Payments, Seeks Participants


The Federal Reserve has formed a FedNow Community group for its upcoming instant payment offering, the FedNow Service , and needs volunteers to support it, the Fed announced Wednesday (May 6). The FedNow Community will help influence FedNow Service design and our development roadmap by providing input on desired service features, technology and implementation plans.”.

When a Community Bank Expands Beyond Its Community

ABA Community Banking

Have you heard about the community bank that’s been chugging along for over 150 years, took on “Community Bank” as its name—and “bank happy” as its motto? Meet Community Bank, N.A., The post When a Community Bank Expands Beyond Its Community appeared first on ABA Banking Journal.

Podcast: Celebrating Bankers’ Community Commitment

ABA Community Banking

The latest episode of the ABA Banking Journal Podcast continues a pre-Thanksgiving tradition by interviewing the winners of ABA's 2019 Community Commitment Awards. The post Podcast: Celebrating Bankers’ Community Commitment appeared first on ABA Banking Journal. ABA Banking Journal Podcast Community Banking Featured Affordable housing Bank community engagement Community development Financial education Military banking Protecting older Americans Veterans Volunteerism

Here's Congress's chance to help black communities

Payments Source

Population health CRA Coronavirus Community health Tax Public health Small business lending Tax laws Race discrimination Small business Under-served populations Law and regulationA blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.

Community banks get on board with bots

American Banker

Community banking RPA Robotics AutomationRobotic 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.

Kleptocracy – What Does it Mean to Community Financial Institutions?


What about our small to mid-sized community financial institutions? Many community financial institutions believe that kleptocracy is not a risk for their institution’s profile as they conduct few foreign transactions, such as wires and ACHs. Community financial Institutions cannot become complacent in the areas traditionally thought of as the “big bank” problems. The post Kleptocracy – What Does it Mean to Community Financial Institutions?

The Benefits of Leveraging a CRM to Be More Community-Focused


Key Takeaways To better serve their community, as well as stay competitive in this fast-moving environment, savvy CFIs are carefully blending digital innovations with their hallmark relationship banking practices.

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 […].

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.

Black communities need more help from Fed

American Banker

Diversity and equality Main Street Lending Program Federal Reserve Community banking Community healthThe Main Street Lending Program and other Federal Reserve loan facilities should be tailored to the needs of Black-owned banks and businesses.

INV Fintech Revamps Site and Launches New Community, INV Edge

Bank Innovation

INV Fintech, this site’s sister accelerator, announced today a comprehensive rebrand and the launch of an online community. INV’s brand has been completely reimagined with a new logo, color scheme, and website layout that realigns the brand with its profound passion for innovation.

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

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. The partnership will consist of “several stages,” the first of which is funding small business loans for Funding Circle clients. […].

Nonprofit Supports Community Entrepreneurs Amid Pandemic


According to Brennan, EforAll is a growing nonprofit organization that partners with communities to help under-resourced entrepreneurs start and grow a business through intensive business training, mentorship and an extended professional support network. Pandemic crisis or not, Brennan says his interactions with applicants and program alumni are grounded in good business ideas, marketplace reality, life experiences and a desire to give back to underserved communities.

Visa rolls out cash access incentives for UK merchants in underbanked communities

Mobile Payments Today

Visa is launching a program to expand access to cash for rural and low income communities in the U.K. amid reduced access to branch banking and ATM coverage. The program gives incentives to retailers to provide cash back to customers

Banks and CDFIs: Partnering for community impact


And to thrive, those customers need economically diverse and healthy communities in which to live and work. Partnering with local organizations to promote the health of those communities is often a top priority for banks. communities where capital tends to be scarce. Most CDFIs are high-touch lenders, and many have technical assistance and financial education programs for borrowers and community members that are sometimes grant-supported.

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.