When it comes to data, two things are certain. One is the old adage of “garbage in, garbage out” — if the data quality isn’t there, it’s useless. And the second is that you can have all the data in the world, but all of your efforts are wasted if you don’t do anything with the information. [Continue]
BankBeat’s Greg McCurry talks about the latest changes and challenges community banks face and how they can they position as a trusted resource with Anna Kooi, National Financial Services Leader and Partner at Wipfli. [Continue]
Zoom and its equivalents will never completely go away. It’s too useful, and covid isn’t the only communicable illness one should avoid bringing into the office. [Continue]
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]
Audrey Song is a senior product marketing manager for Narmi, a fintech which recently announced a new partnership with the $904 million First Federal Bank of Kansas City. The bank is using Narmi to speed up its online account opening process. [Continue]
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]
Malware and data breaches are the primary methods of cyberattack, and incident costs continue to rise. Targets for cybercriminals are chosen based on two conditions: Impact and profit. [Continue]
Most third-party vendors present little risk to the bank. It might be the vendor that mows the lawn at the branches or provides office supplies. It’s only the vendors that have access to or manage bank data that reach a higher risk threshold and thereby a higher level of vendor management and due diligence. [Continue]
When it comes to adopting digital solutions, mortgage lending in particular seems to be playing catch-up compared to other industries. Some lenders have asked me if there is still a need for full-scale digitalization, now that the record levels of origination and forbearance activities of the past several years have somewhat dissipated. [Continue]
Through my professional and personal endeavors, I have accounts with 10 community banks, two of the nation’s largest banks, and one sizable fintech. Each account comes with advantages and disadvantages. [Continue]