Fintel Connect is a Vancouver-based digital marketing firm that works with U.S. banks. Nicky Senyard, founder and CEO, talked with BankBeat about how the pandemic has forced banks to find new ways to reach customers. [Continue]
Democrats and Republicans unsurprisingly have different takes on the success of the Paycheck Protection Program. Opposing political parties routinely take shots at one another; weeks before a presidential election, the partisanship is especially acute. With respect to PPP, however, small business advocates should agree that the program provided crucial support very quickly, with safeguards against fraud that made PPP as effective as any massive government grant program can realistically be. [Continue]
When an organization is the victim of a cybersecurity breach, the immediate concern is the compromised data. The damage to brand reputation, potential lawsuits, regulatory fines and stringent compliance oversight are sure to follow — carrying a hefty price tag — all of which is a sober reminder that the breach itself is only the beginning of a long road ahead. [Continue]
Thousands of lenders across the country have loaned more than $230 billion to small businesses through the Paycheck Protection Program. While many banks focused on serving existing customers, perhaps equally as many attracted new customers. If your bank has acquired new customers through PPP, now is the time to solidify these relationships. [Continue]
We are living in a time where technology advances at rapid speeds, the internet is more widely used than ever before, and people are in constant communication with one another. As a result, we are experiencing an uptick in threats to privacy and data security like cybercriminals, malware and of course, data breaches. Now more … Read more
While banks kept work flowing in early spring through social distancing measures and remote workforces, they had to make quick decisions about another key program without knowing when the COVID-19 crisis would end or how bad it would get. Should they bring on board their interns? Or did the ever-changing nature of the crisis make that idea too complicated and risky? [Continue]
The Federal Reserve, with its enormous capacity for research, tells us the coronavirus recession has hit women and minority populations hard due to disruptions in the retail and service sectors. Federal Reserve Chair Jerome Powell said in June that the persons least able to weather an economic downturn are now carrying the greatest burden. [Continue]
Investigating claims of transaction errors or fraudulent activity is time consuming and expensive. Finscend, a 2020 ICBA ThinkTech accelerator participant, is applying artificial intelligence to the problem. Aaron Lazor, Finscend CEO and co-founder, explains. [Continue]
Don’t know where to start with vendor contracts? Here are three steps designed to help your institution get started on a path to ensure value-driven vendor results on your next vendor contract renegotiation and/or technology evaluation endeavor. [Continue]
Compliance officers hold the proverbial ball when it comes to managing regulatory compliance examinations. Those who have experienced consistent, positive outcomes typically attribute their success to the fact they have a plan they stick to, year after year, to ensure there are no surprises and to portray their organization in the best possible light. [Continue]