Gone are the days when a new technology solution or platform could be implemented and then left to run for a decade or more. Nowhere is that more true than in the world of payments, where rising customer expectations and increasing competition from both bank and non-bank actors require a level of foresight and responsiveness that smaller organizations may find difficult to build into their planning. [Continue]
Noah Wilcox, 2020-2021 chair of the Independent Community Bankers of America, reflects on his year at the helm of ICBA, including the pandemic’s impact, what the Paycheck Protection Program could mean for the future, and how community bankers worked past partisanship to accomplish political goals during his tenure. [Continue]
My hat’s off to all directors, especially outside directors — the folks who bring experience and knowledge from other industries to the enterprise of banking. For the fifth year in a row, we are devoting our March edition to recognition of outside directors. Our Amazing Outside Directors program, this year sponsored by CLA, features four accomplished business leaders. [Continue]
When someone is a natural leader, they aren’t trying to lead. Normally they are just being themselves and others choose to follow them because they are inspired to do so. Natural leaders tend to bring more ideas to the organization and are action oriented. [Continue]
Revenue related to mortgage refinance is likely to be less this year than it was last year. A decline in rates motivated homeowners to refinance in 2020, but there’s really no room for rates to drop more. Federal stimulus makes it difficult to assess true credit quality. Businesses, particularly small ones, that seem to be skating through the pandemic may actually be operationally stressed. [Continue]
We can all be excused for feeling déjà vu — 2021 does feel a little like 2009, the last time a new administration came into the White House with the votes to move legislation through both the House and Senate. Both years represent periods of economic uncertainty, and a national health crisis, although the coronavirus pandemic is much more serious than the swine flu turned out to be. [Continue]
The Paycheck Protection Plan drove customers and revenue to community banks in large numbers last year, leading many to see 2020 as a banner year for small banks. With the second round of PPP in 2021, that trend should continue. But let’s not start celebrating yet. Banks that administered PPP successfully may enjoy gains for the short-term, but at what cost? [Continue]
Episode Six is an Austin, Texas-based firm that develops software for financial services companies and others that use payment products. Chermaine Hu, CFO, talked to BankBeat about choosing tech that is adaptable for the long haul, but also stays in tune with the needs of commercial customers. [Continue]
In the COVID-19 era, the merchants I frequent or the coffee shops that dot my commute have gone all-in on cards and touchless payments. Cash is increasingly being rejected by stores for its “filth.” The other day, I placed a $20 bill on a counter to buy a $5 coffee. When the cashier saw the bill, he audibly sighed, slipped on a nitrile glove and picked the thing up like it was a dead mouse. [Continue]
Despite the pandemic, banks are flush with deposits, and loan demand, including a Paycheck Protection Program, that has kept bankers busy. Liquidity isn’t a problem. But as conditions change as a result of the pandemic, bankers must ask themselves: How can I capitalize on what I already have? [Continue]