Independent Banker

AUGUST 31, 2022

The pandemic forced industries to accelerate their adoption of digital applications, and community banking was no exception. And as banking processes increasingly moved online, community bankers needed to fortify their online defenses against fraud and cybercrime. In August, ICBA hosted the Bank Security Institute. Tiffany Lukk.

Community 91

Community Security Community Bank Fraud 91

PYMNTS

JANUARY 9, 2018

Community banks approved 49 percent of SMB loan applications in November, according to the latest data from the Biz2Credit Small Business Lending Index. Here, again, lies another opportunity for community banks to fill the void. INTRUST Bank recently announced it is also taking part in the trend of collaborating with FinTechs.

Community Bank 131

Community Bank Community Fintech Lending 131

Abrigo

DECEMBER 17, 2021

Components of an effective fintech partnership If leveraging new technology is a priority for your FI, ensure these three elements are present for an effective fintech partnership. . Takeaway 2 When evaluating a fintech partnership, ask how the vendor will help with integration, training, and ongoing success.

Fintech 195

Fintech How To Innovation System 195

PYMNTS

OCTOBER 16, 2017

Last week, P2Bi announced the rollout of a new partnership program that enables community banks to participate in its small business loan marketplace. Community banks are typically a better bet for small businesses in search of a loan, with approval rates higher than those at larger financial institutions. suggests a shift is ahead.

Community Bank 110

Community Bank Community Fintech Lending 110

Independent Banker

AUGUST 31, 2021

Here’s what community bankers need to know when planning their budgets for the next year. These days, there’s a lot to contend with as a community bank, from changing consumer behaviors due to the pandemic to uncertainty surrounding the economy and inflation. By Cheryl Winokur Munk. Quick stat. Source: 2021 Provident Bank survey.

Community Bank 170

Community Bank Community Lending Leadership 170

CFPB Monitor

AUGUST 31, 2021

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Banks are instructed to reference relevant guidance from the agencies that is listed in a footnote.

Community Bank 78

Community Bank Community Fintech Company 78

PYMNTS

AUGUST 7, 2018

Regulators from the U.K., 7) a new alliance aimed at encouraging the growth of FinTechs. is among the first countries to introduce a FinTech sandbox , and now it wants to expand the effort. The Global Financial Innovation Network will be made up of 11 other regulators, including the U.S.

Regulation 100

Regulation Fintech Policies Innovation 100

PYMNTS

NOVEMBER 12, 2020

Built on the back of Regulation Crowdfunding under the Jumpstart Our Business Startups (JOBS) Act, Miventure operates as a funding portal to connect SMBs with unaccredited investors, a relatively new paradigm for SMBs used to turning to traditional banks or venture capitalists to back their companies.

Regulation 232

Regulation Capital Marketing Lending 232

American Banker

APRIL 4, 2024

The Federal Reserve issued an enforcement action against Mode Eleven Bancorp, the holding company for Summit National Bank, which engages in banking-as-a-service.

Wyoming 73

Wyoming Community Bank Community Fintech 73

Independent Banker

DECEMBER 31, 2021

Independent Banker ’s annual Community Bank CEO Outlook survey reveals how community bank leaders plan to leverage today’s deposit-laden banking environment to grow this year. Janet Silveria, Community Bank of Santa Maria. So, what’s at the top of community bank leaders’ to-do lists? What changes will 2022 bring?

Community Bank 144

Community Bank Community Lending Louisiana 144

Perficient

DECEMBER 27, 2023

Navigating AML and OFAC Compliance Risks Regarding anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) compliance risks, bank executives must navigate operational and compliance challenges tied to fintech relationships. Manage third-party risks, especially for relationships involving higher-risk or critical activities.

Compliance 221

Compliance FDIC Regulation Fraud 221

CFPB Monitor

SEPTEMBER 14, 2021

Last week, the Federal Reserve Board published a paper on partnerships between community banks and fintech companies, “Community Bank Access to Innovation through Partnerships.” The Fed’s publication of the paper is another indication of the increased attention that regulators are paying to bank relationships with fintechs.

Fintech 78

Fintech Community Bank Community FDIC 78

Independent Banker

JANUARY 31, 2023

Community bankers and industry experts share how to best put this data to use. billion-asset First State Community Bank in Farmington, Mo. To use data effectively, community bankers need to balance the information with what they know to be true about their customers. All data creates a competitive advantage. The results?

Community Bank 91

Community Bank Community Trends Payments 91

PYMNTS

JANUARY 31, 2019

Mastercard has released its latest report on the FinTech landscape, with analysts fixing their eyes on the small business (SMB) community to drive competition and innovation. Another key trend is the role of SMBs, the report noted, claiming that small businesses were “the next battleground for FinTech.”.

Fintech 194

Fintech Innovation Trends Community 194

PYMNTS

APRIL 16, 2019

Cross-border FinTech efforts have seen increasing participation from central banks and monetary authorities. The MOU dictates that the banks will train FinTech startups with an eye on cross-border transactions. The Fed And FinTech Firms. Separately, in India, API infrastructure firm Setu said last week that it had raised $3.5

Fintech 211

Fintech San Francisco National Innovation 211

Banking Exchange

SEPTEMBER 15, 2021

Community bank-focused document is designed to guide companies through the innovation process Community Banking Feature3 Feature M&A Management.

Community Bank 78

Community Bank Regulation Community Fintech 78

Jeff For Banks

MAY 7, 2016

Recent news of Prosper scaling back and OnDeck Capital's ongoing losses has taken a little shine off of the FinTech apple. Recently a former bank director and active bank stock investor asked me about the rise of FinTechs and how it impacts community banks. But the death of the community bank is exaggerated.

Community Bank 60

Community Bank Community Fintech FDIC 60

Independent Banker

MARCH 31, 2022

Executive committee members tell us what advocacy issues they’ll be focused on during their terms, while board members share their words of wisdom for up-and-coming community bankers: themselves. To sum it up, these leaders are all in and all heart for community banking. We are not Wall Street banks—we are community banks.

Community Bank 239

Community Bank Community Industry Texas 239

PYMNTS

MARCH 5, 2019

While small business lending has become a platform for some high-profile FinServ scandals in several markets, opponents of expanding borrower protection legislation to small businesses have argued that such regulations would actually hamper financial institutions’ ability to expand credit access for the small business community.

California 153

California Fintech Lending Regulation 153

Abrigo

APRIL 19, 2016

In a recent whitepaper (download), the regulator outlined the general approach it will take as it evaluates innovative products, services and processes that OCC-regulated banks may offer or perform. The product complies with laws and regulations, particularly those aimed at protecting consumers. Support responsible innovation.

Innovation 150

Innovation Fintech Risk Management Community Bank 150

PYMNTS

SEPTEMBER 30, 2020

It would instead offer payment companies a national servicing platform to replace the regime of state regulations such firms would be subject to under existing laws. Commercial companies accessing a payments charter would avoid oversight and regulations that protect the financial system and consumers,” the bank industry leaders wrote.

Regulation 349

Regulation National System Industry 349

Accenture

MARCH 23, 2017

I wanted to explore how investment trends in this area are impacting the industry and how the ecosystem can work with the regulator. We’re lucky to have Jason Boud—who is pulling together a strong community in London—with us in the Labs. Right now, compared with Fintech, RegTech has low investment for the size of spend.

Regulation 150

Regulation Industry Trends Compliance 150

Accenture

MARCH 23, 2017

I wanted to explore how investment trends in this area are impacting the industry and how the ecosystem can work with the regulator. We’re lucky to have Jason Boud—who is pulling together a strong community in London—with us in the Labs. Right now, compared with Fintech, RegTech has low investment for the size of spend.

Regulation 150

Regulation Industry Trends Compliance 150

The Financial Brand

AUGUST 31, 2021

Framework takes into account all from funding to management depth to business recovery strength to lead to good choices by community banks. The post Bank Regulators Set Risk Guidance for Fintech Partnerships appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

Regulation 32

Regulation Fintech Community Bank Banking Trends 32

CFPB Monitor

JANUARY 24, 2022

In its press release , the OCC stated that its approval “brings SoFi, a large fintech, inside the federal bank regulatory perimeter, where it will be subject to comprehensive supervision and the full panoply of bank regulations, including the Community Reinvestment Act. In addition, the parent company of SoFi Bank, N.A.,

National 78

National Fintech Company FDIC 78

Abrigo

SEPTEMBER 11, 2023

From a consumer standpoint, we’ve experienced three giant leaps in the fintech industry. Impact of AI Improved access to financial services One was when ATMs became available, and you didn't have to plan your activities around when banks were open. Let us step back in time and look at the last 50 years.

Risk Management 195

Risk Management Data Technology Fintech 195

Payments Source

SEPTEMBER 2, 2020

The OCC’s efforts to bring the technology into the financial mainstream could help people in underserved communities execute payments more securely.

Regulation 140

Regulation blockchain Community Security 140

Chris Skinner

MAY 1, 2017

Back in December, I picked up on this new Office of the Comptroller of the Currency (OCC) Ruling to issue national FinTech bank charters. This would enable a FinTech to go through ONE regulator to get to market, rather than the 200 or more they would have go through today. An obscure regulatory debate has put the entire U.S.

America 211

America Fintech National Regulation 211

Chris Skinner

OCTOBER 8, 2018

Another lively discussion followed my meeting with the FinTech communities in Asia. It was interesting as we had a chat about all aspects of what was happening in South-East Asia, and the overwhelming message that came back to me was that the regulatory sandboxes had become sandcastles.

Community 401

Community Meeting Fintech Regulation 401

Bank Innovation

DECEMBER 27, 2018

Bank Innovation's list of people to watch in 2019 include the head of a large bank, the head of a community bank, a regulator, an investor with money to burn and the head of one of the biggest fintechs in the industry. The people on the list were chosen by BI's editors and are listed in […].

Community Bank 170

Community Bank Community Regulation Innovation 170

Abrigo

DECEMBER 22, 2023

download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023. Takeaway 3 Articles specific to small community banks were among the most-read blogs, with best practices for construction lending at the top of the list.

Lending 221

Lending Risk Management Community Management 221

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

FDIC 98

FDIC Fintech Innovation Conference 98

PYMNTS

JUNE 24, 2020

Visa and the Dutch FinTech TerraPay said they plan to develop and deliver “payment solutions to drive financial inclusion and cashless transactions for domestic payments and global remittances.”. “Interoperability is key to a digitally connected payments ecosystem.”. .

Payments 243

Payments Fintech Course Operations 243

American Banker

OCTOBER 10, 2023

Blue Ridge Bank in Virginia changed course after its rapid growth in the fintech partnership business landed it in hot water. But the path back to a traditional community banking model is also proving to be bumpy.

Virginia 45

Virginia Fintech Community Bank Community 45

Independent Banker

OCTOBER 31, 2021

Community banks are independent institutions fueled by the needs of their individual communities, so what constitutes innovation will look and feel different for every bank. I’ll be at the annual meeting of the California Community Banking Network. Thank you for being unwavering supporters of the communities you serve.

Innovation Strategies 186

Innovation Strategies Strategy Innovation Community Bank 186

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. Below is a breakdown of all 300 sessions, less the demos and sales pitches. You have never heard so many intelligent people sound not so smart.

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Conference Las Vegas Fraud Case Study 221

Abrigo

FEBRUARY 11, 2022

The decision appears to mark the board’s final word on ongoing petitions from community banks and credit unions who asked for a delay or total exemption. Whether they’re credit unions, community banks, private fintech firms, or larger financial institutions, [financial institutions] are all vying for the same customers.

Resources 195

Resources Regulation Community Bank Community 195