As community bankers, wearing several hats is just part of the job. But, with community banks having more vendor relationships than ever, when is vendor management a task better outsourced to a third-party system? Here are questions to ask yourself.
Traditional loyalty program benefits like travel and dining out don’t seem so appealing in the era of COVID-19. Some community banks are rethinking the kinds of rewards that will convince customers to stick around.
Navigating a new vendor relationship isn’t always easy, but what if the company is a startup like many fintechs? Fortunately, the process for community banks looking to partner with or utilize fintechs is not too different than working with traditional vendors.
Robo-advisory can be a cost-effective way for banks to enhance their wealth management and investing services. Community banks and vendors say that, with proper planning, these partnerships can generate noninterest income and bolster customer loyalty while maintaining high-touch service.
Luckily for the many community bankers who are considering instant issue cards this year, adoption of the service has never been easier thanks to new technology. But community banks should ensure best practices for protecting cardholders and staying compliant. By Mary Yerkes Many community bankers are looking to enhance their bank’s customer experience, and instant […]
Years of advocacy culminated in the Fed’s announcement of a real-time payments and settlement service. Here’s what to know about FedNow and what remains to be answered. By Colleen Morrison The community banking industry released a collective breath on Aug. 5, 2019, when the Federal Reserve announced its intent to offer a 24/7 real-time payments […]
Smart wearable devices have been on the rise in recent years. While only some banking functions may translate to these tiny, albeit advanced, devices, some community banks have already made the jump to the smartwatch. By Katie Kuehner-Hebert More and more people are using smartwatches for everyday tasks while on the go, but how many […]
Some community banks have partnered with fintechs specializing in ways to make saving easier for customers. Here are two community banks that are growing deposits by offering personal micro-saving services through different fintech partnerships. By William Atkinson As a growing community bank, $660 million-asset ChoiceOne Bank in Sparta, Mich., found that its primary challenge was maximizing […]
As millennials near 30 or even 40, they’re becoming prime targets for financial planning and wealth management services. Here’s how some community banks are offering engaging wealth management services tailored to the needs of these digital natives. By Cheryl Winokur Munk Community banks realize that they need to attract millennials to thrive. That’s a given. […]