Credit unions and physical security during COVID-19
Technology can help mitigate vulnerabilities created by reduced staffing and lobby closures.
Credit unions, community banks and competing with fintechs
At this point, it’s a cliché to predict the downfall of big banks. Forecast for years, it wasn’t until the 2008 financial crisis when cracks appeared in the business foundation. Fintechs still ranked as somewhat of a novelty and posed no threat to the established giants. Fast forward to the present—where the leading brands give some financial Read More
Gaining an edge in the battle for deposits
The battle for deposits has become increasingly competitive for community financial institutions. Major retailers and tech companies such Apple, T-Mobile and Google are attempting to enter the financial services landscape, posing new threats to existing players. As a result, money that used to be stored in traditional bank accounts is now scattered across various channels that are Read More
Why it takes more than great service for banks to win over small-to-midsize businesses
Banks know, perhaps all too well, the growth strategy of targeting small-to-midsize business clients (SMBs) to win over more of their fee-generating accounts. That trodden path for banks of all sizes dates to at least the wake of the financial crisis. And it’s not always a path to riches: A recent BAI Industry Insights presentation at the Read More
Podcast: A community bank’s drive to thrive
As though today's banking industry hurdles aren't enough, community banks are fighting to keep their customers happy in an era of high-stakes high tech and increasing competition for all corners. Nancy Graves, CEO of the Bank of New Jersey, shares how her institution found its place in the market, which in turn has preserved an excellent standing among its Garden State clientele. From the Read More
‘Commarketing’: How smart community banks stand out in a crowded field
It’s lunchtime in Ann Arbor, Michigan, and Terry Kalinowski feels the need for a little live music. “Anything to break up the day,” says the 26-year-old paralegal. But unless he walks through the halls of the University of Michigan’s Moore Building to hear music majors rehearsing or takes to the sidewalks of Michigan’s third largest city—hopefully to Read More
How FinTechs finally found allure in community banks
The stereotype is that FinTechs play big. Really big. Only big. Big-dreamin’ entrepreneurs cruise Silicon Valley’s Sand Hill Road in big-money sports cars, looking for big-time venture capital so that they can finally, finally play ball with the big dogs of the banking world. Community banks? (Insert laughter here.) Don’t make Mr. Big Disruptor spit out his Read More
The definitive data dilemma: Community banks and the struggle to bag big benefits
Everyone has heard comments such as these: “Data is your greatest asset.” “If you don’t learn how to leverage your data, you’ll get left behind.” “Your number one technology challenge is to get control over your data.” But is it really true for community banks? If so, why are so few doing anything about it? Data update: Read More
Podcast: Community banking and the drive for excellence
The BAI Banking Strategies podcast kicks off season 3 with Jill Castilla, President and CEO at Citizens Bank of Oklahoma. The institution has roots that go back more than 100 years--to a time before Oklahoma was a state--and on this episode, Castilla talks about how her bank has learned to adapt to the times to stay healthy Read More
Don’t cell yourself short: Why community banks must transcend a mobile-first strategy
Customers don’t like hitting their local bank. That statement may not sit well with community bankers, but it’s a fact. A 2016 survey found that more than half of U.S. consumers prefer digital to face-to-face relationships with their banker. It’s a harsh reality check, no doubt, but also marks another milestone along the eroding trail of traditional Read More