With an increase in online traffic and challenges to in-person banking, community banks may be asking themselves if new branches are necessary. But many bank leaders report they’re investing in new branches because they’re strategic tools for growth.
Here are the benefits of bank-owned life insurance
Over the past two decades, banks have increasingly dabbled in BOLI, or bank-owned life insurance. While there are downsides to consider, experts say the benefits of these policies are two-fold: to generate income in the long term and to retain bank leaders.
The advertising regulations you need to know
Like any business marketing its products and services, a community bank must keep its advertising truthful. There are plenty of regulations specific to financial institutions under the FDIC, CFPB and other regulators.
Uncertainty is fueling fraud. Here’s how to stop it
Recent data shows that the pandemic has allowed fraud to grow. Cybersecurity experts share ways for community banks to prevent potential attacks, as well as information to pass onto customers to arm them with fraud prevention strategies.
Improve your next marketing campaign with data
Using data from your community bank, an ad campaign or public sources allows your marketing efforts to find potential or existing customers who’ve already shown interest in your brand.
Could apps improve your customers’ financial health?
Fintech-developed apps that help customers manage their finances are looking to partner with community banks to help them reach new customers and deepen existing relationships.
The overdraft regulations that you need to know
This past year, the Consumer Financial Protection Bureau (CFPB) fined a national bank for misinforming its accountholders about its overdraft services fees. A handful of regulations apply to banks offering overdraft programs.
How community banks serve immigrants
When people come to live in the U.S. from other countries, they often don’t have an American credit history, identification or other typical requirements of the account-opening or loan process. But community banks are finding ways to serve this growing population while mitigating credit and compliance hurdles.
Why it pays to offer cross-border payments
Offering cross-border payments used to have a high barrier of entry, but thanks to new technology and increasing revenue opportunities, they may be an untapped growth opportunity for enterprising community banks.
2021’s lending outlook: cautious optimism
Many community bankers are cautiously optimistic that this year will bring the same, if not more, demand for loans. They also describe a year that may bring opportunities to gain market share from big banks amid continued uncertainty.
