With cash flow, liquidity and credit tightening drastically across industries, and in the face of historically low interest rates, lenders will face several new and unique challenges over the coming months as the full effects of the coronavirus pandemic are felt throughout the economy. [Continue]
As the first post-conversion business day begins, systems are up, clients can access online and mobile banking and their debit cards are working. Your nightmares of being hunted like Frankenstein by a mob of angry clients were unfounded. [Continue]
While younger generations happen to be primarily big-bank customers, it’s not necessarily because they like to. Big banks capture their attention by focusing their marketing efforts on their “superior” technology, which overshadows smaller community banks. The truth is consumers across all generations prefer the localized, personal service they receive from community institutions. [Continue]
I had an experience recently where an eagle-eyed operations employee at Prime Security Bank in Eagan, Minn., prevented a series of fraudulent checks from going through when she noticed that the signature on the checks did not match the signatures on the signature card. [Continue]
If you don’t believe we live in an angry, cynical world, wade on over to Twitter for a half an hour and drill down on the discourse. Yikes. A person who shares an innocuous opinion can, within minutes, find dozens have hacked their ideas into bloody chunks. [Continue]
Comments from two bankers speaking at the annual Acquire or Be Acquired conference piqued my interest. Jim Ryan, CEO of the $20 billion Old National Bancorp, and Dave Provost, executive vice chairman of the $47 billion of TCF Financial Corporation, cast light on a couple of big industry deals. [Continue]
In these uncertain times, questions swirl among community bankers about the best way to support their customers and communities through our current public health crisis while still looking out for their employees and shareholders. Regulators and industry groups have been quick to publish guidance and suggestions to minimize the impact of COVID-19 on banks — … Read more
Practifi is a Chicago startup developing business management tools for financial institutions and wealth advisors. Adrian Johnstone and Glenn Elliott, Practifi’s co-founders, explain how customer relationship management tools might be applied to functions beyond the advisory realm. [Continue]
All banks are required to assess the risk of a pandemic to their business and have a plan to address providing continued service during such an event. Does your plan include a contingency to allow some employees to work from home? [Continue]
Bankers are in a unique situation: They want their customers to be able to take advantage of low rates, but as responsible advisors to their farm and ranch customers, they don’t want their customers to plunge into debt too deeply just because rates are low. [Continue]