Abrigo
FEBRUARY 28, 2023
Preventing SMS phishing, or "smishing: A financial institution's guide to smishing scams, why they work, and how to avoid them. You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." REGISTER now Takeaway 1 Phishing is not a new fraud trend, but the rise of smartphones means text messaging fraud is becoming more common.
Payments Dive
FEBRUARY 28, 2023
The buy now, pay later company has cut costs by winding down operations in some markets, renegotiating prices with merchants and tightening underwriting.
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South State Correspondent
FEBRUARY 28, 2023
Many community banks today are willing to underwrite real estate secured loans on just two metrics: debt-service-coverage ratio (DSCR) and loan-to-appraised value (LTV). Banks typically approve credits above 1.20x DSCR and below 75% LTV – with many loan-specific factors that may skew these acceptable levels. For competitive reasons, we see banks dipping to 1.10X DSCR, and some deals are approved at 85% or even higher LTVs.
Payments Dive
FEBRUARY 28, 2023
The buy now, pay later pioneer kept up growth despite employee cuts last year. The credit loss rate edged up too.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
South State Correspondent
FEBRUARY 28, 2023
In our industry, many banks need to put more thought into the science and strategy of deposit promotions. This is, unfortunately, occurring as the number of deposit promotions is approaching a near-term high, and banks are throwing away money like an untargeted ad campaign. Not leveraging media, not having a current deposit pricing strategy, not leveraging relasticity data , and taking a “one-size-fits-all” approach undermine the average deposit promotion strategy.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
ATM Marketplace
FEBRUARY 28, 2023
If you search the word cashless on Google, you will get a flood of articles heralding it as the way of the future in payments. While cashless payments can be useful, they still have issues.
Independent Banker
FEBRUARY 28, 2023
Derek Williams, president and CEO of Century Bank & Trust in Milledgeville, Ga., wanted to be a financier before finding his way to community banking. Photo by Harold Daniels Derek Williams, president and CEO of Century Bank & Trust in Georgia, is bringing his passion for community banking to his term as ICBA chairman for 2023/24. By Roshan McArthur Derek Williams is, he says, excited, honored and humbled to make his debut as ICBA chairman at ICBA LIVE.
CFPB Monitor
FEBRUARY 28, 2023
On February 28, 2023, the Supreme Court heard oral argument in two separate cases challenging the Biden Administration’s authority to proceed with its plan to forgive approximately $400 billion in federal student loans. In the first case, the Biden Administration seeks to vacate an injunction granted by a three-judge panel of the U.S.
Independent Banker
FEBRUARY 28, 2023
Photo by Chris Williams For community banks, marketing often points to finding ways to educate, support and grow community, as well as customer knowledge and awareness. True relationships withstand the test of time, and such is the case with the community bank/customer connection. It’s not unusual to hear about a community bank having served a family or a business for generations, and that’s a testament to the strength of the relationship.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
CFPB Monitor
FEBRUARY 28, 2023
The CFPB has finalized a procedural rule that updates its Rules of Practice for Adjudication Proceedings (Rules of Practice). The procedural rule was issued in February 2022 and became effective on February 22, 2022, the date of its publication in the Federal Register. According to the CFPB, because the procedural rule was a rule of agency organization, procedure, and practice, it was exempt from Administrative Procedure Act (APA) notice-and-comment requirements. .
Independent Banker
FEBRUARY 28, 2023
By Lindsay LaNore, ICBA The theme for ICBA LIVE 2023 is “Light the Fire. Light the Way.” As leaders, that’s a huge part of what we do: spark enthusiasm, encourage creativity and guide our teams on the paths to success. But inspiration doesn’t always happen spontaneously, or even daily, so it’s incumbent upon us to develop strategies and create environments that inspire and motivate our teams, all while making sure we stay inspired ourselves.
ATM Marketplace
FEBRUARY 28, 2023
London, 28th February 2023 – Auriga, a global software provider for the omnichannel banking and payments industry, today announced a partnership with CMS Business Solutions, a Latin American financial technology solutions business, to collaborate on self-service banking technology for the Ecuadorian market.
Independent Banker
FEBRUARY 28, 2023
Photo by Courtney K/iStock By Charles Potts, ICBA If you’ve heard it once, you’ve heard it a thousand times: In today’s landscape, data reigns supreme. Working hand in hand with digital transformation, data provides a powerful tool for community banks. Its accessibility, readability and applicability in today’s digital-first environment has enhanced community banks’ ability to serve their customers, creating a heightened experience.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
ATM Marketplace
FEBRUARY 28, 2023
In a time when customer expectations are growing, budget scrutiny is increasing, and labor markets are tightening, businesses rely on cash automation, self-service, IoT, and other technology investments to deliver for their customers and employees.
Independent Banker
FEBRUARY 28, 2023
Illustration by The Laundry Room/Stocksy Customer data fuels efficient and effective marketing these days. Community banks own an enviable amount of data, but not all are leveraging it to its fullest extent. By Mindy Charski People share important data about themselves with their community bank in myriad ways. It happens every time they open a checking account, apply for a mortgage, make a direct deposit, log into a bank’s website or chat with a banker, and more.
The Paypers
FEBRUARY 28, 2023
Qatar Islamic Bank (QIB) has partnered with Mastercard to launch the new QIB SoftPOS app that turns an Android smartphone into a POS terminal for contactless payments.
Independent Banker
FEBRUARY 28, 2023
Photo by Ismail Rajo/iStock The time has come for the long-awaited FedNow launch. As community banks navigate this process, there are plenty of resources available to answer questions and provide guidance. By Colleen Morrison Between May and July of this year, non-pilot instant payment transactions will be live on FedNow, the first new Federal Reserve payment rail in more than 40 years.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
The Paypers
FEBRUARY 28, 2023
Japan-based companies such as Fujitsu and Mitsubishi have announced a partnership aimed at supporting Japan’s Web3 strategy.
Independent Banker
FEBRUARY 28, 2023
Photo by Yaroslav Danylchenko/Stocksy A variety of MBS pools can spread your risk. By Jim Reber, ICBA Securities As many community bankers are still picking up the pieces from their bond portfolio’s meltdown last year, it occurs to me that the breathtaking rise in rates has created at least one byproduct that is both unusual in frequency and tangibly beneficial for future performance.
BankInovation
FEBRUARY 28, 2023
A handful of financial institutions have made waves in international news due to lawsuits and multi-million-dollar fines. The issue is that they chose, whether intentionally or unintentionally, to be noncompliant with BSA and AML regulations—a costly decision.
Independent Banker
FEBRUARY 28, 2023
Photo by Radachynskyi/Adobe Using ICBA’s Marketing Communications Toolkit, your community bank can tell its story with intention and precision. For the banking industry, marketing can be finicky. It’s all about building the message, finding the right platform and timing it well. ICBA offers the “Tell Your Story” Marketing Communications Toolkit exclusively to members as a supplement to your community bank’s creative efforts.
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
BankInovation
FEBRUARY 28, 2023
The Canadian Scotiabank increased its year-over-year tech spend by 9% to $372 million during the first quarter to support business growth as the bank adjusts to recent staff reductions and prepares for economic uncertainty in the year ahead.
Independent Banker
FEBRUARY 28, 2023
Valley Bank offers financial literacy education to women through Hoving Home. Valley Bank is working side by side with Walter Hoving Home, a place of refuge for women struggling with addiction and other personal challenges, to offer residents financial empowerment. By Roshan McArthur For Valley Bank in Wayne, N.J., success brings with it an obligation to help others succeed, too.
BankInovation
FEBRUARY 28, 2023
BMO Financial Group continued to enhance its digital strategy in the first quarter of 2023 via new digital card options, investment in AI capabilities and other automated solutions.
Independent Banker
FEBRUARY 28, 2023
BankOnBuffalo president Michael Noah says the bank’s mobile branch will provide service to those who don’t have easy access to banks. Photos by Luke Copping Photography BankOnBuffalo has hit the road with its new mobile bank, BankOnWheels, to meet the needs of underserved communities. By William Atkinson Name: BankOnBuffalo Assets: $1.1 billion Location: Buffalo, N.Y.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
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