Four ways to grow your Gen Z client base

With inflation here and a potential recession just around the bend, many of those who were once interested in big ticket items or major financial decisions have now focused on budgeting for the sky-high prices of everyday essentials. [Continue]

Deposits are ready to move

Banks are faced with two disparate pictures when they look at their cost of funds in 2022. Funding costs are not exploding, thus far anyway, from the highest performing banks on down. Consumers, on the other hand, are treated to more and better options for safety and higher yield with each passing month. It’s a funding landscape not seen since before the 2008 financial crisis.  [Continue]

Customer experience at 40,000 feet

If your business model depends on great service, you have undoubtedly spent time considering the customer experience. With money essentially a commodity, it is the customer experience that separates your bank from others.  [Continue]

How to protect your ATMs from bold thievery

Across the United States, banks have experienced a significant increase in theft attempts related to automated teller machines. In a 52-week period through June 2021, a National Association of Convenience Stores article found that Travelers Insurance saw a 257 percent increase in the number of claims related to ATM smash-and-grab thefts. [Continue]

When should a bank outsource vendor management?

Community banking has gotten complex: Today a banker needs a wide breadth of knowledge in everything from regulatory compliance to the latest technology trends. And the demands for depth of knowledge continue to increase.  [Continue]

Political pressure mounts as banks, regulators examine overdrafts

As political and regulatory pressure builds, large retail banks have garnered much of the attention for reducing their dependence on overdraft/NSF fees.
Though generally slower to change those practices, some community and regional banks are also reducing their reliance on overdraft/NSF fees, both to eliminate a customer pain point and generate goodwill with consumers. [Continue]

Avoiding multiple NSF fee pitfalls

The March 2022 FDIC publication, “Supervisory Highlights,” included a warning to banks regarding recent lawsuits and examination findings wherein banks have charged more than one NSF fee for the same transaction. This was particularly happening on returned checks re-presented for payment. [Continue]

How to weather this economic storm — and the next

We’re in the midst of an economic downturn characterized by inflation and ballooning interest rates. Geopolitical instability is the new normal. In this challenging environment, community banks have an opportunity to prepare for any shocks and aftershocks on the horizon. In the process, they’ll come out stronger than ever before. [Continue]

Solving staff shortages by digitizing commercial lending

Financial institutions are facing increasing pressure to grow and improve while dealing with tighter margins and, as of late, being short staffed. As the Great Resignation and Great Retirement surge, attracting and retaining top talent has become even more difficult. Recruitment can be especially challenging for institutions in rural areas and for roles that require technical knowledge and skill. We keep asking how to attract more talent, but there are other ways to accomplish more even while short staffed. [Continue]