Abrigo

MAY 22, 2024

Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S. Small business lending is also a prominent line of business for many financial institutions, especially those driven by a mission to help their communities thrive. A majority of applicants sought less than $100,000.

Lending 195

Lending St. Louis Community Marketing 195

Abrigo

JANUARY 17, 2023

Takeaway 1 Many financial institutions used a customer portal for PPP, but once the program ended, went back to old manual processes, Takeaway 2 Automating lending provides a secure portal between the bank and customer and automated workflows that speed origination. In my experience, community banks only do what they have to do.

Lending 195

Lending System Customer Experience Case Study 195

Abrigo

APRIL 22, 2024

Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S. Small business lending is also a prominent line of business for many financial institutions, especially those driven by a mission to help their communities thrive. A majority of applicants sought less than $100,000.

Lending 244

Lending St. Louis Community Marketing 244

South State Correspondent

MARCH 21, 2023

The need for a known, reliable brand creates an excellent opportunity for community banks to help small business customers while building deposit balances. Community banks can now white label this same product to onboard and process employee retention tax credits for the bank’s small business customers AND prospects.

Taxes 195

Taxes Community Bank Community Operations 195

ZootBlog

FEBRUARY 12, 2016

How long should it take to add your spouse to your bank account? 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. It simply required the verification of two small deposits into the new account for security reasons.

Community Bank 63

Community Bank Community Technology ATM 63

South State Correspondent

APRIL 10, 2023

CRE Risk Background While ten years ago, community and regional banks use to make up some 55% of the CRE market, in 2023, these banks now compose approximately 72% (below). The risk here is that community banks continue to take on an above-average amount of CRE credit exposure. touched off a wave of bankruptcies.

Community Bank 195

Community Bank Community Los Angeles Regional 195

Independent Banker

NOVEMBER 30, 2022

As community banks grow, their vendor partnerships usually also do, which can lead to challenges with organization, data security and more. To address these issues, some community banks have turned to artificial intelligence. Greg Ohlendorf, First Community Bank and Trust. By Elizabeth Judd.

Management 91

Management Community Bank Community Data 91

Independent Banker

APRIL 30, 2022

During the pandemic, many community banks needed to change how they operated. It can clarify roles and responsibilities, encourage timely communication and help community banks operate more efficiently. When the pandemic hit in early 2020, mitigating risk took on a whole new meaning for community banks.

Oregon 91

Oregon Community Bank Community Meeting 91

Independent Banker

OCTOBER 31, 2021

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. In 2019, the two merged brands again under IncredibleBank.

Idaho 134

Idaho Community Bank Community New Jersey 134

Independent Banker

APRIL 30, 2022

As consumers’ changing preferences prompt community banks to deliver new technologies, here are some of the top trends to keep your eye on. Let’s look at a few of these trends, how community banks can determine if they’re right for them and how to get on board. By Mary Yerkes. are now contactless.

Trends 144

Trends Payments Community Bank Community 144

Abrigo

AUGUST 31, 2023

Naming conventions One benefit of customer-centric KYC is that it differentiates community financial institutions from larger, more impersonal banks by allowing clients to retain their individuality and build personal relationships. For example, form letters often filter information from core systems, automatically assigning “Mrs./Mr./Miss”

Compliance 195

Compliance Community Training System 195

Abrigo

DECEMBER 8, 2016

As community banks and credit unions look toward 2017, many will be focusing on small business lending for loan portfolio growth, according to a recent Sageworks poll. However, small business lending comes with some unique challenges that banks and credit unions will need to address in order to grow their business lending portfolios.

How To 150

How To Lending Community Bank Community 150

Independent Banker

OCTOBER 31, 2021

Community bankers tell us why. First State Bank & Trust in Williston, N.D., started developing its digital lending platform about three years ago—and the bank is really glad it did. “I’m Chris Jundt, First State Bank & Trust. Community banks have really propelled themselves into this journey in a fantastic way.

Lending 91

Lending Community Bank Community North Dakota 91

Independent Banker

FEBRUARY 28, 2023

Photo by Mike Ritter Spurred by social distancing and shutdowns during the pandemic, many community banks turned to virtual financial advisory services, and these new practices are expected to stick around. a fintech that provides a digital communications platform for community financial institutions.

Community Bank 91

Community Bank Video Community Meeting 91

Independent Banker

FEBRUARY 28, 2022

We asked several banking leaders how they’ve employed fintech to ramp up their marketing campaigns, hone their analytic strategies and gain new patrons in the process. The digital world has opened vastly broader avenues for community banks to attract new customers—especially if they partner with fintechs in their endeavors.

Fintech 136

Fintech Marketing Community Bank Community 136

Abrigo

AUGUST 25, 2021

However, making this expectation a reality is easier said than done, as a typical bank or credit union’s consumer lending process can involve many different systems, people, and processes. Retail banking is increasingly competitive, especially with the influx of fintechs like LendingTree and Rocket Loans. How can it compete?

Lending 195

Lending System Community Retail 195

Abrigo

MAY 8, 2024

The American Banker/Arizent survey found that nearly three-quarters (72%) of community banks (those below $10 billion in assets) and 54% of credit unions reported they either have no plans to use generative AI or are still learning and collecting information on the technology.

Examples 222

Examples Fraud Resources Risk Management 222

Gonzobanker

SEPTEMBER 21, 2023

Digital: Pigskin Pick-Ups Bankjoy , a digital banking provider, had a funding round led by the Curql Collective Credit Union Service Organization. Core connectivity and API providers CFM and NXTsoft merged, acquiring document workflow provider IMM and rebranding as Kinective. Finastra partnered with Glia for digital customer service.

Fintech 103

Fintech Software Illinois Lending 103

Abrigo

FEBRUARY 3, 2017

You typically play document ping pong for days/weeks, potentially pulling in your accountant, to ensure the institution has all the documents required. There is no document ping pong, and you submit everything online securely. • Community banks worry they are in a lose-lose situation.

Lending 150

Lending Community Bank Meeting Community 150

Abrigo

NOVEMBER 21, 2014

Those kinds of wording tweaks may be minor in terms of language of the document itself, but significant in terms of how you apply that standard.” How should community banks prepare for the transition? • Accounting for the life of the loan. • Tracking loans by vintage.

Community Bank 225

Community Bank Analysis Community Video 225

Independent Banker

AUGUST 31, 2022

Community banks can get up to speed on current legislation and regulations to both protect their customers from unauthorized or false deposit account transactions and to prevent them from happening in the future. of Regulation E specifies the timing and steps banks must take to investigate and resolve EFT errors consumers allege.

Community Bank 91

Community Bank Regulation Community Training 91

Independent Banker

AUGUST 31, 2016

E-signature is a hot technology now in the industry; many community banks are adopting the technology to keep pace with consumer demographic preferences. If your community bank hasn’t already looked into using e-signatures, now is a good time to start. For the markup to be repeatable and automated, banks need templates.

Community Bank 72

Community Bank Compliance Minneapolis Community 72

Abrigo

MAY 11, 2020

Key Takeaways The coronavirus has propelled FIs and customers to embrace digital offerings Work from home schedules, sheltering in place, and urgent financial needs have changed customers' expectations of bank response times. When they’re finally thinking about doing something financial, the bank isn’t open,” Koch said.

US 195

US Lending Community Technology 195

PYMNTS

JANUARY 23, 2020

A Wells Fargo regulator is planning a civil suit against 10 former company executives for their roles in its retail banking scandals. Worldpay On Modernizing Security Defenses To Foil eCommerce Fraud. DocuSign processes nearly 800,000 signed documents every day, making it a prime phishing target. DocuSign Wages War On Phishing.

Fraud 131

Fraud Community Bank Analytics Study 131

Abrigo

APRIL 14, 2020

Internal plans should document credit concerns and assess current liquidity. What we have now is not a series of less secure banks being hit with losses, but rather strong banks and borrowers having to adapt to a sudden change in overall economic activity. Document plans for credit concerns. This too shall pass.

Community 195

Community Lending Meeting Marketing 195

Gonzobanker

MAY 31, 2019

article , former Small Business Administration administrator Karen Mills said community banks with strong small business customer bases that don’t find new ways to serve them digitally are going to face a “reckoning.” In a recent American Banker. Source: DeBanked ). Technology Utilization.

Lending 125

Lending Community Bank Community Data 125

Abrigo

APRIL 1, 2015

A recent Wall Street Journal article by Victoria McGrane and Jon Hilsenrath highlighted how the nation’s regulators are increasingly questioning and turning their focus toward bank boards. These smaller banks have also seen new, and more frequent, attention from regulators. How complex is the bank’s operating model?

Risk Management 150

Risk Management Community Bank Regulation Boston 150

Abrigo

MAY 21, 2020

Key Takeaways The PPP forgiveness process is a major concern among community financial institutions, and many worry about having the resources to handle it. The PPP forgiveness process is a major concern among community financial institutions. Work with an experienced PPP solution partner. learn more.

Lending 195

Lending Community Report Resources 195

PYMNTS

OCTOBER 8, 2018

The amount was disclosed in the Annual Work Program, which had been devised by the European Securities and Market authority at the end of last month. That document focuses on budgets and regulatory efforts across the region. community banks and small business lending.

United States 174

United States Regulation cryptocurrency Cleveland 174

Abrigo

FEBRUARY 5, 2015

While the report recognizes that customer demands and competition from non-traditional banks will shape banking’s future, the report also recognizes that regulatory expectations and scrutiny will continue to increase, for both traditional community banks and non-bank entities that try to enter banking.

Compliance 150

Compliance Software Community Bank Policies 150

Independent Banker

DECEMBER 28, 2015

Far more than any other issue, regulatory compliance is the biggest challenge community bankers experienced in 2015, with 43 percent naming it as such in ICBA’s State of the Community Banking Industry survey. First Security, a $180 million-asset community bank in New Salem, N.D., By Denise Logeland.

North Dakota 70

North Dakota Community Bank Community Compliance 70

Abrigo

MAY 5, 2017

And why not publish the list of documents required for a credit application, along with a description of the standard process? Providing information will help the borrower have realistic expectations and address some concerns with transparency and communication.”

Survey 150

Survey Online Lending Taxes 150

Independent Banker

AUGUST 26, 2015

Paperless document-signing technology is growing among banks and consumers. Today, many community banks are exploring how to “go paperless”—whether for cost reasons, a better customer experience or a deliberate outreach to a younger, technology-oriented demographic. By Mark Pfeifer.

Community Bank 70

Community Bank Minneapolis Community Online 70

Abrigo

APRIL 23, 2020

The first round of funding left many lenders scrambling for guidance and the most up-to-date documents. The one known change to the second round of funding is an earmarked $60 billion in PPP loans reserved specifically for community financial institutions. E-Tran might go through an overload period.” learn more. Learn More. Learn More.

Lending 221

Lending Los Angeles North Carolina Community 221

Independent Banker

JANUARY 26, 2016

More community bank loan officers are using laptops and tablets to allow customers in the field to complete loan applications and obtain faster approvals. Commercial loan officers at Univest Bank and Trust Co. billion-asset community bank’s president of small-business banking. Dan Hickman, Riverhills Bank.

Community Bank 70

Community Bank Community Ohio System 70

MyBankTracker

SEPTEMBER 2, 2020

When applying for a personal loan, most banks and credit unions require applicants to provide some sort of collateral. This is personal property that secures the loan. When you apply with a bank or credit union, they’ll run a credit check and evaluate your credit profile. Be prepared to submit other documentation as well.

Security 52

Security South Carolina North Carolina Comparison 52

Abrigo

APRIL 8, 2020

On March 27, President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide emergency assistance for those affected by the coronavirus pandemic. Consumers and small businesses have long relied on community banks and credit unions and now is no different.

Compliance 195

Compliance Lending Fraud Community 195