The countdown is on. FedNow goes live in just a few months, and its looming launch creates a sense of urgency around the execution of instant payments.
Anne Balcer talks to host Charles Potts, ICBA’s chief innovation officer, about the value of her background as a community banker, the advocacy wins community banks saw last year, the issues she and her team are targeting in 2023, the critical role community bankers themselves play in advocacy….and even a little lacrosse.
In the last three years, a number of expressions have come into fashion, some of which have been worn out, used out of context and deemed by linguists to be a blight on our vocabulary. I’m sorry to say these may be around for a while. Here are a few.
Instant payments have arrived.
In the five years since the launch of the RTP Network, volumes have steadily increased by more than 10 percent per quarter, and in Q3 2022, the network moved 45 million transactions valued at $19.7 billion.
As a board chair who just concluded an annual organizational meeting piggybacked on a regular monthly bank board meeting, you do not have to convince me that banks don’t need to go looking for items to fill their agendas.
If you consider yourself a loyal patron of local businesses, it’s only natural for you to be banking locally, too. Beyond offering exemplary customer service and quality products and services, community banks directly benefit your community in three important ways:
When it comes to innovation, big picture ideas formulate and crystalize into concrete plans. Having the vision and enthusiasm for fresh solutions is just the start and drives the community bank journey to unearth specific, relevant and actionable opportunities.
Remember, your board of directors need annual training on the same regulations that all bank employees must receive training on, including Fair Lending. How do you train your directors each year?
Instant payments have arrived.
In the five years since the launch of the RTP Network, volumes have steadily increased by more than 10 percent per quarter, and in Q3 2022, the network moved 45 million transactions valued at $19.7 billion.
Digital customer engagement has risen as a top priority for financial institutions in 2023, according to new research from Anna Kooi, financial services industry leader at Wipfli LLP, a top advisory firm in this space.
ICBA has launched an enhanced version of our Solutions Directory, which in addition to providing useful fintech-related company information, serves as a one-stop shop for community bank enabling technology. The new and improved directory is based on extensive community bank feedback, to create a better user experience.
In 2022, ICBA and community bankers stood together against a steady stream of efforts to impose harmful policies while working tirelessly to advance initiatives benefiting local communities—proving once again the importance of making our voice heard in the nation’s capital.
We have previously called 2021 a year of innovation, but there’s no doubt that ICBA doubled down on its position throughout 2022 to ensure that innovation is accessible, affordable, and attainable to all community bankers.
Many banks' training calendars kick off in January and wrap up in December. And while you work hard to ensure employees complete all their training by year end, there may be a few courses that slip through the cracks.
Who knew that a line of business which doesn't have mass market appeal and has a sales cycle that's measured in years, would be on a lot of financial institution's marketing plans for 2022?
The word "rally" can be used for a number of purposes and in different contexts. For instance, it could mean a long-distance auto race over varying surfaces and involving stages and checkpoints.
Just shy of a year ago, ICBA announced its role as one of the general partners and investment committee members in a strategic investment fund designed to accelerate technology opportunities and adoption at community banks. Today, BankTech Ventures, has raised more than $115 million in committed capital in its first fund and has backed eight different companies working to provide community bank technology solutions.
You may already be thinking about 2023 and your bank’s training plans for employees. If you haven’t, you will be very soon as the end of 2022 is approaching quickly. We encourage you to think about two things when planning your online course enrollments for 2023.
Digital transformation is the 2022 payments phrase of year. You can’t attend a meeting without hearing about its importance in the financial services landscape, and when you consider that nearly nine in ten Americans are now using some form of digital payments, you understand why it needs to be a top priority.
