Modernize the ag lending process to stay competitive

In today’s ultra-competitive environment, banks are challenged to speed lending decisions with confidence and attract more farmers with convenient digital products — all while managing risk. Without modern lending tools, banks will lose out to competitors and stifle growth. [Continue]

Is a digital dollar the future of currency?

In March, the White House directed several federal agencies to research the pros and cons of a digital dollar. This raises a host of questions for banks, particularly when it comes to deposits and loans, which, you know, are kind of a big deal. For the general public, I have to think the topic is just generally confusing. Digital payments have been with us for a long time, after all. The type of digital dollar being discussed by the Feds would look a lot to the consumer like the digital money banks move around right now. But the back end of how the money is exchanged would change. [Continue]

Avoid cyber pitfalls through proper training

The cost of staying ahead of security challenges continues to rise for banks. Anand Naik, cofounder and CEO of cybersecurity tech firm Sequretek, shares his thoughts on the state of enterprise cybersecurity and how banks can best prepare for today’s threat environment.  [Continue]

Don’t skimp on cyber training; new threats are the norm

It can’t be said often enough: Nearly every horror story about a bank or its customers being the victim of a cyber attack starts with a misstep by the victim. These can range from carelessness to being duped by very sophisticated criminals. The IT world has considered human error the greatest obstacle to cybersecurity for a very long time. Those faxes from the Nigerian prince promising to make you rich are really no less sophisticated than your run-of-the mill phishing email today. [Continue]

Lending calculators designed to attract mortgage customers

Chimney is a fintech that develops website tools — calculators, mainly — to engage potential loan customers. CEO Matthew Covi speaks about online lending and using calculators to attract customers. In today’s ultra-competitive environment, differentiating your online experience from the starting line can be crucial. [Continue]

When will the personal check finally die?

​​It’s happened to us all. You’re waiting in a long, slow line at the supermarket. You’re finally next. You start to envision the outside world again, sensing you will soon be on your way. Then it happens: The person in front of you takes out … gulp … a checkbook.

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]

When the future doesn’t live up to its hype

Data scientists have concluded at least half of all fintech articles contain the sentence: “Community banks are not known for being on the cutting edge of technology.” I’ve written it many times, and it hurts a little when I do. It happens to be true, but I’m wrong to be glum. Maybe the community of community bankers at large has seen too many tech promises fail to deliver, and so they remain skeptical of the Next New Thing.  [Continue]

Community banks can succeed using data analytics

A company called Aunalytics has a pitch specifically designed for community banks: You can analyze your bank data with the same sophistication as the big banks — at a SaaS price. BankBeat spoke with Katie Horvath, the group’s chief marketing officer, about what’s lurking in the data. [Continue]

Can bank ATMs be adapted to offer Bitcoin?

I recently visited my neighborhood bodega for some paper towels. Okay, okay, it was for some beer, but this trip held a surprise. Still covered in its protective plastic film was a yellow, beehive-themed machine wedged next to the Haagen-Dazs freezer: The Bitcoin Depot. On second thought, maybe the design theme is hornet. Using this machine, you can buy a number of differently branded crypto currencies with other currencies. I had read about them like one reads about UFOs, but I’d never seen one in the wild.  [Continue]