Is it time to explore Banking-as-a-Service?

Your bank probably uses at least one — if not many — SaaS products. Software-as-a-Service providers have exploded over the past several years and come in every variety imaginable, from e-signature platforms to many core accounting providers. The vendor assumes the responsibility of hosting the product in these subscription-based, web-based models. What about Banking-as-a-Service? [Continue]

Technology, talent and Banking-as-a-Service

Brian Love, head of banking and fintech at Travillian, invited financial institution legal advisor Stan Orszula, partner at the law firm of Barack Ferrazzano, to comment on how banks can adopt tech strategies and better attract talent. Orszula also shared his thoughts on what’s trending in banking. [Continue]

Digital transformation invites security challenges

Cybersecurity fintech Sequretek was recently named one of the ICBA’s 2022 ThinkTECH partners. Co-founder and CEO Anand Naik weighs in on today’s ever-evolving digital threats and latest developments, from balancing security with remote access for employees working remotely to the role of artificial intelligence and machine learning. [Continue]

Community bankers tailor new services to customer needs

Gone are the days of the homogenous customer base. A community bank’s reach may span multiple states, varying customer demographics, a wide range of business needs, and an ever-changing competitive environment with near-infinite options of products and services. The 39 branches of Miles City-based Stockman Bank of Montana are spread across the wide expanse of the state. The $5.4 billion bank includes customers located in larger cities and some in very rural locations, sometimes up to 100 miles from the nearest branch. The bank serves a mix of commercial and agricultural customers, in addition to its consumer population. [Continue]

Former banker builds agency to promote equity in talent searches

Insanity, the saying goes, is doing the same thing over and over and expecting different results. Finding talent these days requires a new approach, says Clement Marriott, president and founder of Minnesota-based Empowers Staffing. This is especially true for community bankers who are committed to fostering the cultural values of diversity, equity and inclusion. Culture is a selling point, Marriott explained. Candidates, especially candidates of color, assess a bank’s culture from the outside: They look at its “About Us” web page, review its social media feeds, and scroll its list of executives found on LinkedIn. [Continue]

How should community banks coexist with cryptocurrencies?

Though cryptocurrencies could be seen as a threat to traditional finance — they neither need an intermediary nor are they tied to a centralized government, bank or regulatory agency — consumers still indicate a strong desire for a bank to be involved. Community bankers worrying that demand for cryptocurrencies might eclipse demand for traditional bank products will be well-served to remember that consumers attracted to decentralized finance still yearn for the security offered by a bank.  [Continue]

Increase customer lifetime value through financial education

Banking is a unique industry in that “everyone needs it,” yet there is a wide range of how customers interact with financial institutions. Digital solutions are the bare minimum expectation; building bank loyalty will come from becoming a trusted source for all banking needs — including financial literacy. [Continue]

Banks need to strategize for rollout

Community banks can often face challenges internally when rolling out new products and services. This can include everything from the logistics of consistent training for employees across the branches and internal willingness to accept change. [Continue]

Community bankers utilize creativity, persistence to fill talent pipeline

Last fall, 73 percent of employers reported difficulty finding employees, and nearly the same number of employers expect that difficulty to continue. In order to compete for talent, community bankers have had to get creative and strategic by partnering with nonprofits, state bankers associations and institutions of higher learning. [Continue]

Mindset, people key to competing in era of exponential change

I was cleaning out a corner of my basement the other day and came upon a stack of newspapers among my late mother’s things. The papers were yellowed and fraying but their headlines still screamed of our shared national history: “Kennedy Assassinated; U.S. Puts 1st Men On Moon; Nixon Resigns.”  [Continue]