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Charles Potts: Back-office innovation

Independent Banker

Community bankers are embracing innovation like never before—with impressive results. We believe operations is the “engine” that drives every aspect of banking and, ultimately, the bottom line. On a practical level, what steps can community banks take to strengthen their back-office operations? By Charles Potts, ICBA.

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Are banks taking advantage of the CECL extension?

Independent Banker

The CARES Act extended the CECL implementation deadline for many larger community banks until the end of the COVID-19 pandemic. Community bankers tell us that while the extension is welcome, they’re already down the road to implementation. ICBA tells FASB CECL isn’t feasible for community banks. By Stephanie Vozza.

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The Case for CSR

Banking 2020

There was plenty of complexity, but at its heart the law set up a local board to review segments of the banking industry every two years, specifically to evaluate how financial services institutions with more than $6 billion in city deposits are doing their part to help less fortunate communities. That law just got shot down.

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Lack of an M&A Strategy May Leave You Dateless at the Prom

Gonzobanker

While we may see an uptick in the number of new bank charters from the near zero we have today, too many other industries with less regulation will attract capital. For better or for worse (probably worse), banking has become a scale business.

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Fintech Fundings: 30 Companies Raise $100 Million Week Ending Dec 11

Fintech Labs Insights

Four Finovate alums were among the bunch: CBANC Network took in $4 million for it’s community bank information network. BankersLab received an undisclosed investment towards its commercial lending training & compliance tools. HQ: New York City. Community financial institution research network.

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37 Corporate Innovation Labs In Finance

CB Insights

Working with FCAT, the charity searched for third-party vendors and iterated testing on compliance with legal and regulatory requirements to be able to accept Bitcoin. Partnership Fund for New York City and Accenture — FinTech Innovation Lab. Fidelity Estate Planner was the brainchild of the FCAT and Labs teams.