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3 Ways Financial Institutions Can Step Up for Underserved Communities

Perficient

The financial services industry must consider its customer experience game while also grappling with a sense of distrust from many communities due to systematic barriers, maintaining utmost accessibility due to the essentiality of the business, and the lack of financial literacy across the country. Trust and Transparency. .

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7 ways community banks can boost profitability

Independent Banker

Here’s what community bankers need to know when planning their budgets for the next year. of digital banking customers said they switched to digital banking because of the pandemic. Source: 2021 Provident Bank survey. Here are seven factors community banks should consider as they enter budgeting season.

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The Death of the Community Bank

Jeff For Banks

In June of 2008 I gave a speech titled "The Death of the Community Bank" and in that speech I made predictions. Much like competitors nip at community banks' customers. Eighteen percent of that group opened an account at a digital bank. Two percent opened an account at a community bank.

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NCR: Financial Institutions Will Need To Continue Innovating

PYMNTS

In " A Look Forward: What Executives Wish for America and the World in 2021 ," Doug Brown, senior vice president and general manager, NCR Digital Banking , discusses how financial institutions should evolve to remain relevant and build customers' trust. It’s been a year of rapid change.

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Why Merchant Services Are Key To Small FI Deposit Growth

PYMNTS

This developing world of payments and the fierce competition offered by non-traditional providers of financial services presents big challenges to smaller and community banks – those financial institutions (FIs) with less than $10 billion in assets. Those operations manage and own 50 percent of [U.S. Deposit Trends.

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Who Owns Digital? Ugh, That’s the Problem for Bankers

Gonzobanker

financial institution executives surveyed for What’s Going On In Banking 2022 , 19% of community banks and 10% of credit unions had not launched a digital transformation strategy prior to this year, and another 15% had no plans to do so. While a digital product manager may have operations or I.T.

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Trust: Once Again the Most Precious Currency in Banking

Gonzobanker

Sincerity – “This bank cares about me and they will step up for my well-being.” This crisis has revealed just how much improvement banks need in their social media playbooks and supporting talent. Digital banking uptime, the speed and accuracy of moving money, and the ability to talk to informed bankers are vital right now.