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

By |2020-05-27T18:16:26-05:00January 7th, 2020|Comments Off on Credit unions, community banks and competing with fintechs

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

By |2020-05-27T18:16:27-05:00January 3rd, 2020|Comments Off on Gaining an edge in the battle for deposits

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

By |2020-05-27T17:58:32-05:00August 6th, 2018|Comments Off on Why it takes more than great service for banks to win over small-to-midsize businesses

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

By |2020-05-28T15:17:00-05:00November 14th, 2017|Comments Off on Podcast: A community bank’s drive to thrive

‘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

By |2020-05-27T17:59:36-05:00October 11th, 2017|Comments Off on ‘Commarketing’: How smart community banks stand out in a crowded field

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

By |2020-05-27T17:59:37-05:00September 21st, 2017|Comments Off on How FinTechs finally found allure in community banks

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

By |2020-05-27T17:59:42-05:00June 26th, 2017|Comments Off on The definitive data dilemma: Community banks and the struggle to bag big benefits

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

By |2020-05-27T17:59:43-05:00June 23rd, 2017|Comments Off on Podcast: Community banking and the drive for excellence

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

By |2020-05-27T17:59:43-05:00June 16th, 2017|Comments Off on Don’t cell yourself short: Why community banks must transcend a mobile-first strategy

Can community-based banks pass the millennial graduate test?

Across all industries, the hot question is this: How do businesses attract and retain millennials—the largest generation in American history by a landslide? Nowhere does this question resonate so much as in financial services. In fact, The Millennial Disruption Index identified banking as the highest-risk sector for disruption. Thus it’s no surprise that community-based financial institutions (CFIs) are moving Read More

By |2020-05-27T17:59:45-05:00May 4th, 2017|Comments Off on Can community-based banks pass the millennial graduate test?

Podcast: Millennials and community banking

How do community banks and credit unions best cater to the needs of millennial consumers and business owners? On the first episode of BAI Banking Strategies' new podcast, we talk with Graham Seel, founder at BankTech Consulting, about the impact millennials and technology have on community-based financial services organizations. Listen to the podcast on Soundcloud.  You can read Graham's Read More

By |2020-05-27T17:59:50-05:00February 3rd, 2017|Comments Off on Podcast: Millennials and community banking

Peerless ideas, pleased customers: How to overcome 3 challenges in managing the life of the loan

Inefficiency in lending makes it tough for financial institutions to service customers effectively and grow the loan portfolio. Many of these inefficiencies are inherited and accepted as “just the way we do things.” But to work smarter—not necessarily harder—and provide customers a good experience, fresh ideas and processes can challenge the inefficiencies. Across the banking industry, loan Read More

By |2020-05-27T18:00:05-05:00October 21st, 2016|Comments Off on Peerless ideas, pleased customers: How to overcome 3 challenges in managing the life of the loan

Seven solid principles for winning customer trust

When consumers run into issues with a megabank, one of two outcomes are all but certain: Some customers will forgive, forget and stay—while others will take action, along with their accounts, and leave. In light of those potential actions, community bankers likewise have two choices: You can open your doors every morning and hope you get more Read More

By |2020-05-27T18:00:05-05:00October 19th, 2016|Comments Off on Seven solid principles for winning customer trust

Challenge and opportunity for community banks

Competitive, economic and regulatory pressures are driving community bankers around the country to make strategic decisions about the future of retail banking. To overcome the challenges and leverage the opportunities 2016 presents, they’re increasing efficiency, making acquisitions and expanding business lines. We spoke to the leaders of four banks with assets ranging from $200 million to $1.7 Read More

By |2020-05-27T18:00:07-05:00August 17th, 2016|Comments Off on Challenge and opportunity for community banks

Three tips for growing core customer relationships

Have you heard this from a community banker? “We are uniquely positioned to service the affluent customer.” And, “Our service is second to none.”Don’t fool yourself. Your prospects don’t know about your service unless it causes problems for them. And, very few community-based financial institutions are more uniquely positioned to serve the affluent class than are their Read More

By |2020-05-27T18:00:09-05:00June 27th, 2016|Comments Off on Three tips for growing core customer relationships

Rise of the super banks post-crisis

Bigger is better may not have been what the politicians and regulators envisioned post-financial crisis but that’s what we now have in the banking industry. In short, big banks in the United States have closed ranks and gotten much bigger over the past decade, while smaller banks have either merged their way into the middle tier ranks, Read More

By |2020-05-27T18:00:12-05:00April 8th, 2016|Comments Off on Rise of the super banks post-crisis

Three branch models for the future

If you have only scanned the headlines from the business world, the news about bank branches seems grim, as every week brings more branch closings by banks and credit unions.In many of those instances, managers of the financial institution cite the changing nature of customer behavior.  And yes, transactions are down dramatically, with volume dropping 45% since Read More

By |2020-05-27T18:00:13-05:00March 28th, 2016|Comments Off on Three branch models for the future

Three innovation tactics for community banks

Wells Fargo, Deutsche Bank and JP Morgan Chase have recently attracted attention with their innovation labs. Seems like every large bank has at least one lab in which they experiment with new technologies, business processes and products and services. It’s not surprising that the word “innovation” has become such a beacon for banks. Now that the dust Read More

By |2020-05-27T18:00:17-05:00October 27th, 2015|Comments Off on Three innovation tactics for community banks

Improving the asset liability management modeling process

Each bank is unique in that it possesses a distinct strategy, asset mix, product selection, customer base and risk profile that differentiates it from others. As such, the profitability and survival of each one of these institutions are largely determined by how well their boards and senior managers can balance current and potential earnings while maintaining adequate Read More

By |2020-05-27T18:00:18-05:00September 15th, 2015|Comments Off on Improving the asset liability management modeling process