Around the Industry – October 2017

Photo: Scott Olson/Getty Images

Banding together—In response to the catastrophic flooding in Houston, Texas, ICBA launched the Hurricane Harvey Community Bank Relief Fund. Through Sept. 25, people donated money through Aircharity, a donation platform developed by MainStreet Bank in Fairfax, Va. MainStreet Bank also covered the service charges, allowing 100 percent of donations to go directly to people affected by the hurricane. To learn more about ICBA’s crisis relief effort, visit icba.org/news/crisis-preparedness.

Learning on demand

ICBA’s Compliance Vault offers answers at the tap of a screen.

From watching videos to reading social media feeds to processing banking transactions, consumers can do just about anything they want on a mobile device. In the past decade, technological advancements have bounded forward at lightning speed. By October 2016, 51.3 percent of internet searches were done on mobile devices, compared with less than 5 percent in the same time frame in 2010

“The Compliance Vault is an amazing and affordable tool that covers a wide variety of compliance topics with access to thousands of questions and answers. In an ever-changing regulatory environment, it’s great to have a reliable resource that I can depend on from a trusted provider.”
—Jessica Harris, Community Spirit Bank

What does this mean for corporate and compliance training? That just-in-time access to resources is critical—ideally via mobile devices.
Enter the concept of microlearning. Microlearning provides instant access to information. The content is short, concise, topic- or problem-based and searchable. It is also available anywhere, anytime. Microlearning allows learners to be in control of what and when they learn.

This year, ICBA’s Community Banker University launched the Compliance Vault, which provides immediate access to thousands of regulatory compliance answers. This tool is an extension of the microlearning concept: allowing employees to self-direct their own learning when needed. In other words, it allows employers to get the right answers to their employees, the moment they need it. Check it out at icba.org/compliancevault.
—Lindsay LaNore

Sheltered Harbor: a primer
A voluntary industry initiative undertaken by the US financial services sector, Sheltered Harbor protects financial institutions and their customers from cyberattack fallout. Carlos Recalde, Sheltered Harbor COO, and Jeremy Dalpiaz, ICBA assistant vice president for cyber and data security policy, explain how Sheltered Harbor benefits community banks.

IB: How does the Sheltered Harbor platform work?
Carlos Recalde: What we are trying to do is protect all financial institutions’ consumer accounts. We care about the significant data associated with these accounts. We identify the bank’s customers, how much money they have in their accounts and the critical data to protect. The bank then agrees to capture and save the defined critical data in an isolated vault every day. Some put it in an old-style vault, and some store it in a cloud-based service. It is critical that this vault is from the financial institutions’ computer systems, so if they go dark, we still have the data needed to support the consumer’s accounts.

IB: Why should community banks join Sheltered Harbor?
Jeremy Dalpiaz: Community banks are seen as a trusted financial partner, and securing data is a fundamental element of this trust relationship. Showing you are prepared for a disaster underscores the community bank commitment to that trusted relationship. Participants are being proactive with their customers and regulators in showcasing their disaster relief plan.

To learn more, visit shelteredharbor.org.
—Sara Schlueter

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