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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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Five Challenges to Your Bank of the Future and Ideas to Overcome Them

Jeff For Banks

I recently mentioned to a community bank management team that community financial institutions are slower to close branches because their decision making goes beyond the spreadsheet and market potential. Community bankers know the town mayor, and key business leaders. We over-invest in under-performing branches. no, this week!

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Traditional Banks v. Alternative Lenders: How Goliath Can Beat David

Banking 2020

According to FDIC Data Calls as outlined in the Forbes , in the 4th Quarter of 2014, traditional banks’ commercial loan portfolios saw a 3.1% Here are a few ways Kyle described how this concept might work: Marketing to the local community and actively becoming a part of it.

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Building Financially Empowered Youth; Our Future Depends on Them

Filene

Earlier this summer, Filene released a research report that examined a systemic problem we face in this country—the lack of accessible financial service options in many low-income, urban communities. Low-income teenagers in particular are living in financial service deserts. Project Teen Money.

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Fraud prevention and detection: Empowering clients through education

Abrigo

Some options include: In-person fraud prevention seminars, either held at a branch location or a local community center. These events are a great way to show leadership and support to the community while having face time with customers, members, and prospects and maximizing time spent.

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