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Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond

Abrigo

Takeaway 2 Community banks are at a crossroads: innovate or be left behind (or acquired). Economy , supervisory and risk specialists from the Federal Reserve of Kansas outline top challenges and opportunities regarding the future of community banking. Technology is an obstacle and an opportunity. Background on Community Banking.

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Brex Offers FDIC Insurance, Adds Chief Legal Officer

PYMNTS

Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). a financial services holding company based in Kansas City, Missouri. This partnership aligns with UMB’s strategy of working with best-in-class innovators like Brex.”.

FDIC 166
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Fed Says America Needs Instant Payments As Soon As Possible

PYMNTS

Brainard, Kansas City Fed President Esther George and Boston Fed First Vice President Kenneth Montgomery also noted that the FedNow system will provide another option in a landscape already populated by, for example, The Clearing House Payments Co. FedNow Will Augment Private Systems, Not Replace Them .

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Fed Names New Payments Security Leader

PYMNTS

The position means Montgomery will chair the Secure Payments Task Force, one of several task forces the Fed has formed to promote innovation and advancement in the industry. He is also a member of the Fed’s Financial Services Policy Committee and directs financial management initiatives for the Fed’s Financial Support Office.

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Branch Transformation: Innovating to be Nimble

Banking 2020

Innovation requires understanding your client base and providing differentiated services that clients will find value in. Banks must innovate and be nimble to address emerging client needs in the neighborhoods they serve. There are silos between banking services – front line services and lending, not to mention wealth management.

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Hospital ERPs Find Promise In The Cloud

PYMNTS

Cloud technology is relatively old, considering the pace of innovation in the back office. According to Healthcare IT News , hospitals should keep a close eye on the technological development of ERP solutions as they move forward in the digitization process.

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The top-performing community banks of 2021

Independent Banker

Whether it’s products and services, technology strategies or employee benefits, independent community banks decide on their own terms what’s best for their business and their customers. Central Bank of Kansas City. Kansas City. A: Technology. What fits one does not fit all. One American Bank. Sioux Falls. Hodgenville.