As social media platforms tinker with their algorithms, marketing experts say one trend is clear: Paid social campaigns are becoming increasingly necessary to cut through the noise and reach customers. They share tips for how community banks can get started.
Consumers are increasingly interested in buy now, pay later products, which are cutting into credit card usage. Here’s what community banks need to know about these products and how they can take advantage of this model.
To satisfy the banking needs of some commercial and high-net-worth clients, some community banks provide trust and tax strategy services. These banks report that specialized services are a way to deepen their already close customer relationships.
Despite possible headwinds, community bank lenders remain optimistic about lending activity in the coming year. We asked them about their experiences with CRE, C&I and mortgage lending in the current environment.
Driven by uncertainty around the pandemic, few compliance reforms were realized in 2021. This year, regulators are considering reforms centered on the Community Reinvestment Act, the Fair Housing Act and more.
Many hotels and other hospitality businesses haven’t fully bounced back from COVID-19 travel and safety restrictions, but community banks have been by their side through the challenges.
Community banks use dozens or even hundreds of vendors—making it critical that they have an efficient way to stay compliant, track performance and more. Some banks are using a combination of software and internal personnel and systems to do just that.
This year has largely been a quiet time for regulatory and compliance reform. But while community banks were focused on the economic recovery of their communities, a few changes came during 2021.
As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. Experts say community banks can use education, biometrics and solid cybersecurity practices to fight this growing area of crime.
The CARES Act extended the CECL implementation deadline for many larger community banks until the end of the COVID-19 pandemic. Community bankers tell us that while the extension is welcome, they’re already down the road to implementation.
