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

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.

Helping Community Banks Turn On The Innovation Switch

PYMNTS

Innovation has always been important for community banks, but the driving force of digitization over the last decade has greatly sped up the pace, said Kevin Tweddle, chief innovation officer for the Independent Community Bankers of America ( ICBA ).

FDIC Final Rule Sets Community Bank Leverage Ratio at 9%

ABA Community Banking

The FDIC today approved a final rule allowing community banks with a leverage capital ratio of at least 9% to be considered in compliance with Basel III capital requirements and exempt from the complex Basel Calculation.

New Community Bank Sentiment Index Shows Bankers Largely Positive

Abrigio

Community bankers are largely positive about the future, based on the first results of a new index gauging business sentiment among the financial professionals who serve a critical role in local economies. How do you expect the regulatory burden on your bank to change over the next 12 months?

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

CEO Q&A: Brand Presence for Community Banks

ABA Community Banking

A conversation with Tim Marshall, president and CEO of the Bank of Ann Arbor. The post CEO Q&A: Brand Presence for Community Banks appeared first on ABA Banking Journal. Community Banking Featured Human Resources Retail/Marketing Technology ABA Banking Journal Podcast Advertising Billboards Branding Employee benefits Leadership

$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

Community Bank Acquires SMB Digital Bank Seed

PYMNTS

Community financial institution (FI) Cross River Bank is acquiring Seed , a small business (SMB) digital banking company, reports in Reuters said on Monday (June 24). Reports noted that the bank declined to disclose financial details of the takeover.

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).

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

Community bank rethinks wisdom of branch closings

BankThink

Academy Bank in Kansas City, Mo., Community banking Branch network Branch deals Kansas Missouriwhich shuttered nearly a quarter of its branches between 2015 and 2018, is now in expansion mode. Its CEO explains his renewed affinity for brick and mortar.

ABA Data Bank: Majority of Community Banks Hold High Levels of Capital

ABA Community Banking

The post ABA Data Bank: Majority of Community Banks Hold High Levels of Capital appeared first on ABA Banking Journal. Community Banking Newsbytes Policy Community bank leverage ratio Community banking Regulatory capital

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.

Community Banks with the Largest Farm Loan Portfolios

BankThink

Community banking Ag lending Farm and rural mortgagesOn Jun. 30, 2019. Dollars in thousands.

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

San Francisco community bank taps next CEO

BankThink

Beacon Business Bank hired former Boston Private executive John Delaney as its new leader. Community banking Succession planning Growth strategies

Destination Milwaukee: A community bank's incremental expansion

BankThink

Other banks have made splashy acquisitions there, but PSB Holdings is getting ready to open a branch after making inroads in the market for three years. Strategic buyers Branch network Community banks Wisconsin

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.

Community Banks with the Largest Portfolios of Home Equity Loans

BankThink

Community banking Home equity loansOn Jun. 30, 2019. Dollars in thousands.

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

Community Banks with the Largest First Mortgage Portfolios

BankThink

Ranking the banks Community banking First time home buyersOn Jun. 30, 2019. Dollars in thousands.

Solving the Community Bank Digital Gap

Banking Exchange

1Community Banking

ATM 56

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. The latest to do so is Provident Financial , a New Jersey-based bank providing consumer and business banking services in New Jersey and Pennsylvania.

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.

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

MOXY Preps Launch Of New Community Bank With NYMBUS

PYMNTS

MOXY bank , preparing to be one of the first new community banks to launch in the U.S. in decades, has announced that it is working with technology solutions company NYMBUS to integrate its core digital banking and payment services. “MOXY’s progressive and innovative approach to banking will provide greater digital convenient, advocacy and personalized financial services to its users,” bank President and CEO Casey G.

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.

Community Banks with the Largest C&I Loan Portfolios

BankThink

Ranking the banks Community banking Commercial lendingOn Jun. 30, 2019. Dollars in thousands.

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.

New firm sees opening to provide investment services to community banks

BankThink

THFF, created by former Wedbush Securities bankers, says it will use its connections to court business from other investment banks that were recently sold. Community banking Investment banking Broker dealers M&A Oregon

Community Bank And FinTech Partnerships Gaining Traction

PYMNTS

Community banking may get a boost from technology, if recent activity is any indication. In Florida, reported American Banker – in the community banking realm – Seacoast Banking has paired with SmartBiz Loans to shorten the loan approvals process. The relationship, which has been in place since the end of last year, has helped the bank log $700,000 in gains from selling loans, as measured in the first quarter of this year.

Community Banks with the Highest Returns on Average Equity

BankThink

Ranking the banks Community banking Performance reportsYear to date through Jun. 30, 2019. Dollars in thousands.

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.

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.

Podcast: AI, Community Banks and the Compliance Jobs of the Future

ABA Community Banking

Former Comptroller of the Currency Eugene Ludwig talks about the current state of artificial intelligence in banking and the outlook for community banks and compliance professionals.

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 […].

Community Banks with the Highest Returns on Average Assets

BankThink

Ranking the banks Community banking Performance reportsYear to date through Jun. 30, 2019. Dollars in thousands.

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

Indiana credit union agrees to buy community bank

BankThink

Indiana Members Credit Union will pay cash for Commerce Bank. Community banking M&A Credit unions Indiana

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.