Items include
- 1 Whitepapers
- 1 Podcasts
- 1 Webinars
- 404 BID Newsletters
business customers
Whitepapers
May 22, 2024
Recognizing the increasing importance of global transactions, this paper provides six strategies and actionable takeaways to help nurture the international growth of your small business customers.
Podcasts
Dec 12, 2022
It's always a good time to focus on keeping your customers happy and loyal. In this episode of Banking Out Loud, we discuss ways to increase customer loyalty and offer 3 tips to get started and also key mistakes to avoid.
Webinars
Feb 13, 2020
In this webinar, we look at the benefits of generating upfront fee income through hedging and discuss how most loans, including those already on your books qualify.
Dec 11, 2024
Seasonal winter businesses have unique risks. We discuss CFIs’ opportunities to support them with personalized advice and tailored banking services.
Dec 4, 2024
Tax season is a time when CFIs can build and deepen relationships with customers by understanding their needs and matching them with the right guidance and financing.
Oct 28, 2024
As baby boomers age, they will pass their assets to their heirs. CFIs want to inherit those professional relationships. We discuss best practices for nurturing relationships with the next generation.
Oct 15, 2024
BAI recently hosted a webinar featuring insights on current trends and projections for small business deposit growth. We look at some of the key information from the webinar.
Sep 17, 2024
The US education sector is expected to grow steadily by 2028. We look at opportunities for CFIs to target this sector and provide examples from CFIs already serving this market.
Sep 12, 2024
BAI surveyed 600 small business owners to find out their banking preferences and what they want most from their financial institutions. Take these insights to heart to attract and retain more of them.
Dec 17, 2020
According to IBM, baby boomers are expected to increase online holiday shopping by 116% this year. We share four ways to keep your senior customers safe from cyber thieves.
May 4, 2020
We answer more important questions today on the coronavirus, including remote customer support, anti-fraud preparation, and PPP assistance.
Jul 22, 2019
Banks need to vigilantly train on the signs of elder abuse. We provide additional resources to help.
Aug 27, 2024
Top CFI lenders actively help their small business customers and borrowers navigate headwinds. We explore successful lending strategies from several CFIs and highlight the importance of giving business customers advice.
Aug 26, 2024
As traditional lenders scale back lending to small- and medium-sized businesses, private credit is facing a boon of activity. We discuss why some large banks are investing in private credit.
Aug 1, 2024
Small businesses are struggling to access capital, despite strong demand. The SBA just launched the Working Capital Pilot Program, in the hopes of bridging the gap.
Jul 3, 2024
Increasing business ownership among minority groups results in greater opportunities for wealth, productivity, and job creation within their communities. We explore ways you can better support these businesses.
Jul 2, 2024
As interest rates remain high, the battle for healthy deposits continues. We look at what else CFIs can do for their consumer and commercial customers, aside from chasing high rates, to attract and retain deposits.
Jun 12, 2024
As online commerce continues expanding for small businesses, so does the revenue potential for CFIs that process foreign transactions. We provide strategies to educate your SMB customers about going international.
May 20, 2024
The banking subscription model is gaining traction. We discuss some of the benefits of a subscription service for both CFIs and their business customers and suggest ways in which to ensure a successful implementation.
May 2, 2024
Over 40% of business owners consider themselves financially illiterate. CFIs have an important role to play in boosting financial literacy among their business customers. By providing educational resources, expert advice, and financial tools, they can support business customers in building more sustainable businesses while also strengthening their relationships.
Apr 23, 2024
For small business customers, waiting for payments can take a while — often at least 30 days. Checks and invoices get lost or go to spam folders and vendors charge fees to transfer funds. Doing more to remove these pain points can help strengthen existing relationships and allow your small business clients to have better cash management. We discuss ways to help small business customers get paid quickly and easily.
Apr 22, 2024
In response to inflation, higher interest rates, regulatory capital increases and declining demand, some banks have pulled back on lending for equipment leasing and financing. That’s created opportunities in equipment finance and leasing for interested CFIs.
Apr 24, 2024
CFIs looking to grow their business may want to focus on the growing needs of small- and medium-sized businesses that are also looking to scale. We spotlight three financial institutions that are doing just that.
Apr 2, 2024
The right payment platform can create substantial opportunities for a CFI — and a CFI can use what it learns from finding the right payment platform to help business clients do the same. We discuss the factors a CFI should consider when selecting a payments platform.
Apr 9, 2024
Taking a more hands-on approach to educating organizations within your community on securing funding — even when it is from outside avenues, such as federal grants — can help CFIs strengthen ties to their communities and foster goodwill that can pay off down the road.
Mar 26, 2024
Small business customers have no shortage of financial service options, from traditional banks to fintech offerings. Fostering loyalty among this group not only requires providing them with added value, but with the sense that your CFI understands their individual businesses and their unique needs.
Mar 25, 2024
Women are launching businesses at a more aggressive rate than men, yet lending disparities continue to favor men as entrepreneurs. With women-owned businesses representing $2.7T in revenue, CFIs should be actively targeting this group.
Mar 21, 2024
Providing added value for business customers can be as simple as sharing existing resources within your organization such as conference room space or wi-fi. We discuss some options of nontraditional benefits you can provide to help your small business customers.
Mar 13, 2024
The gig economy is a fast-growing sector that CFIs cannot afford to ignore. We discuss some of the primary ways in which institutions can ensure they meet the needs of these self-employed customers.
Mar 12, 2024
When it comes to pricing deposits and loans in a competitive market, CFIs must correctly strike a delicate balance between each customer’s needs and their own profitability. Relationship pricing, based on customer profitability, can play a critical role in determining the best loan structure and deposit rates to maximize a customer’s lifetime value to your CFI. We provide insights on what factors to consider as you price products based on customer relationships, as well as the impact of adopting relationship pricing on your institution.
Mar 5, 2024
Higher interest rates and the cost burden they impose are driving a cycle of deleveraging and cash conservation at many companies. Small business owners are balancing the need to offset higher interest expenses and lessened credit availability while also addressing competing demands for strategic growth. We provide tips for how CFIs can help their business customers align their capital with their strategic plans.
Jan 23, 2024
A new study from Capgemini shows that business customers are increasingly in need of help with cash management. We discuss the biggest cash flow challenges for businesses and what solutions CFIs can offer those customers.
Feb 27, 2024
It’s not clear if or when the CRE market will return to pre-pandemic levels, but experts say there are steps that banks with significant exposure to the space can take to help mitigate losses. We suggest five ways to navigate the slump.
Jan 10, 2024
Global B2B activity is poised to reach $111T in 2027, yet businesses are looking to nontraditional providers to fill their needs. Now is the time for CFIs to take a fresh look at their commercial payment services and revamp them to attract business customers with B2B needs before they land elsewhere.
Feb 14, 2024
Although the Fed has kept interest rates steady since mid-2023 and may cut them sometime this year, they’re still the highest they’ve been in many years, and they continue to impact small businesses across all industries. We discuss three ways in which CFIs can support their small business customers as they navigate the high interest rate environment.
Feb 5, 2024
Niche lending can be extremely lucrative — if executed correctly. We highlight some niche industries that are bringing success to other CFIs and provide guidance on how to identify unique, profitable niches in your area.
Feb 1, 2024
According to a new NFIB survey, pessimism prevails among small business owners. We discuss the challenges that small businesses noted in the survey and the potential impact on CFIs.
Jan 25, 2024
More and more CFIs are courting nonprofits as customers, offering loans and other products and services. We discuss some of the unique financial needs of nonprofits and provide examples of how some CFIs are working with these customers.
Jan 8, 2024
Business banking is most CFIs’ bread and butter. But many businesses have more than one banking relationship. To become a customer’s primary provider, CFIs will have to develop the ability to provide full cash visibility, multibank reporting, and multibank transactions.
Dec 13, 2023
Business customers are switching financial institutions for a variety of reasons, but the new FI may end up being the same as the old FI — or worse. We detail the pros and cons that business customers weigh when they consider a switch — and what your CFI can do to make sure you’re the winner on either side of the equation.
Dec 7, 2023
According to a recent Salesforce study, customers want two things: help preparing for economic uncertainty and a personalized experience from their financial institutions. We provide tips on how to connect customers with the guidance they need.
Nov 29, 2023
A challenging economy hasn’t deterred startups, which continue to be formed at record rates. As CFIs seek to identify the most promising startups seeking lending, there a few key things they should be looking for.
Nov 28, 2023
When one thinks of open banking and third-party APIs, one tends to think of all the benefits for consumers. But CFIs could also leverage the technologies to better serve their small- and medium-sized business customers. We explore the possibilities of open banking, including what the financial sector in Europe has achieved so far.
Oct 17, 2023
When we think about credit card rates and perks, we tend to think of retail consumers, but credit cards are a vital tool for small businesses as well. We review the benefits of business credit cards and how those benefits can be used to entice businesses to apply.
Oct 19, 2023
Financial literacy that is well thought out, touches on relevant topics, and is readily accessible can be a valuable tool to help you attract new customers and cement relationships with existing ones. We provide tips on how to revamp your financial literacy offerings for businesses and consumers.
Oct 11, 2023
Virtual account management technology solutions can help financial institutions speed up the process of opening business accounts, which can ordinarily take weeks. We review how CFIs can help their customers with these solutions.
Oct 3, 2023
Behavioral economics, the study of how we make decisions, is used by many FIs in various ways. We look at three areas of your business where understanding behavioral economics can help you better serve your customers.
Sep 18, 2023
Private equity firms are actively targeting the lending market for small and midsize businesses, and they have deep pockets to use in their pursuit. In order to remain competitive, CFIs must focus on and highlight their expertise in this area.
Sep 13, 2023
Some of your commercial customers may struggle to manage their expenses and other bookkeeping duties, but you can help them with these tasks and offer more value. We highlight three examples of how some FIs are doing just that.
Sep 7, 2023
Many CFIs have invested substantial time, energy, and capital in improving the banking experience they offer to retail customers. Unfortunately, they haven’t paid the same attention to the business banking experience, says a recent study. A full 68% of respondents thought the digital features of business banking were lagging behind those for retail customers. Here’s how your CFI can take another look at the experience you offer, from a different perspective.
Aug 28, 2023
As financial institutions seek to enhance relationships with business clients and increase revenue generated among this group, one area they should focus on is stepping up the analytical tools they provide. We discuss areas CFIs should focus on to level up their account reporting capabilities.
Aug 16, 2023
Are you a new lender who needs to build your base of potential clients? Networking at local events or on social media can be daunting, but there are ways to make it less so — and even fun and satisfying in the process.
Aug 15, 2023
With many small businesses looking to improve their ESG credentials, CFIs have an opportunity to position themselves as a trusted sustainability partner by offering financing, tools and expertise. At the same time, they can boost their ability to attract and retain small business customers. We detail five ways CFIs can accomplish both goals.
Aug 10, 2023
Sole proprietorships are the fastest-growing demographic in new business startups. They represent an area of opportunity for CFIs willing to tailor service offerings and dedicate staff to micro companies, yielding strong banking relationships that can grow with these tiny businesses.
Jul 18, 2023
According to the most recent banking survey from the National Federation of Independent Businesses, small organizations prefer to bank with small and regional banks. They also rank customer service as the most important factor when choosing a bank. We summarize the key findings and explore the opportunities for CFIs.
Jul 11, 2023
Small businesses form the backbone of not only the US economy but the client lists of many CFIs. But almost a third don’t think their banking institutions understand their needs. We look at some ways financial institutions can better support small businesses throughout their growth lifecycle.
Jun 20, 2023
The volatility of the foreign exchange rate market can be challenging on your small business customers that do business internationally. We explore FX forward contracts as an option you can offer to provide more certainty in this area, thereby increasing customer loyalty.
May 15, 2023
Recent bank failures and subsequent federal rescues can cause customers to wonder about the stability of all financial institutions. CFIs that have sponsored local events and supported local organizations may be able to reap some benefits from the goodwill they’ve accrued in their community. Read on for ideas.
Sep 1, 2022
Could a subscription model take the place of à la carte bank fees? We explain the pluses and minuses of that business strategy, as well as different options to bring the subscription model experience to your customers.
Sep 27, 2022
CFIs would do well to collect and analyze data on customer behaviors and spending habits — not only from their own systems, but also online portals and apps, as well as their partners’ APIs in an open banking model. We discuss some opportunities.
Mar 26, 2021
Community financial institutions have used customer referral programs successfully for years. But now that things are starting to feel more normalized, maybe it is time to take it up a notch. We address how to do that by automating your referral program and testing rewards.
Feb 18, 2021
Digital disbursements give businesses a smooth and immediate payment process. With global digital payments expected to hit $7.64T by 2024, opportunities for businesses to seamlessly make payments is ramping up. Community financial institutions can help them while finding benefits, such as reducing expenses, increasing transparency, generating fee income, and assisting with customer profitability.
Feb 11, 2021
Customer profitability is even more important these days as CFIs are squeezed on margins. Knowing what your customers want and providing them with creative offerings to help will cement their relationships with your institution. Taking a holistic view of your customers will then allow you to more effectively value price the relationship for the greatest customer profitability.
Jan 25, 2021
By segmenting your PPP customers based on their needs for the funds, you can better determine customer profitability. We explore the different approaches for 3 customer segments, based on the intended use for PPP funds.
Jun 9, 2020
Not every community financial institution counts wealth management services among its offerings. Yet, if you do, now may be the right time to review this service for greater fee income.
Jun 19, 2019
It doesn't appear that environmental investing and initiatives are going away any time soon. We show some interesting ways banks are going green.
Jun 17, 2019
Community bankers support medical professional customers already. However, many in this group need special attention, since their education did not include how to grow their practices, let alone just run a business.
Jun 12, 2019
In this competitive market, it is clear that banks need to focus more intently on customer engagement. We provide you with the top four ways to do this.
May 13, 2019
Forty percent of new entrepreneurs in the US are now women. Yet, they often don't apply for loans. Are there ways to help these business owners grow?
Mar 28, 2019
The popularity of HSAs has exploded and roughly 30% of people within the workforce now have them. They can be an attractive line of business for community banks.
Mar 6, 2019
Improving customer retention can also enhance customer profitability. You may want to consider some of these ways to boost both.
Sep 13, 2018
In an era of rising costs, it can be tempting to look at an underused branch and consider reducing hours. However, you may want to consider these things before you do.
Sep 6, 2018
Wondering how to keep your deposit customers happy while interest rates rise? Companion deposit accounts may be the answer.
May 3, 2018
Farmers are struggling these days with low market prices. Some advice to help you with your agricultural business customers.
Apr 29, 2022
While the yield curve is flat to inverted, community financial institutions are looking for fee income. Hedging loans for your customers provides you with upfront fee income, immediately recognized as earnings. Is this a good time to consider hedging for your institution and gain extra income? While some may feel hedging could be cumbersome, it can be easier than you think. Join us as we explore how it works.
May 11, 2022
Bankers have long been waiting for interest rates to increase so that net interest margins would rise. Yet, there are other factors in play today, such as high inflation, labor shortages, and credit risk. We review the current rising rate landscape and provide approaches to manage through it successfully.
May 31, 2022
Some community financial institutions may not know the benefits of interest rate swaps. Not only do they help you manage interest rate risk, but they also help you retain customers. Your customers want fixed rates, especially as rates rise. You can help them with interest rate swaps — and you gain noninterest income too. We explain how.
Jul 28, 2022
This past spring, the US bond market flashed a key recession warning with the yield curve briefly inverted and short-term debt paying more than longer-term loans. No one can know for sure when the next economic recession will begin, but CFIs may be able to take advantage of two potential opportunities that the inverted yield curve offers.
Mar 31, 2021
Financial institutions are awash in cash these days. How long will this situation last and what is a banker to do about it? We cover the economic indicators affecting liquidity, such as inflation and employment, and how to manage the effects of inflation with revenue protection.
Jul 1, 2019
Yield maintenance can be confusing. But, it doesn't have to be. We walk you through it.
Nov 8, 2019
Even as branches are closing in rural areas, there are ways to support these customers and increase business.
May 7, 2019
Digital tools have been widely accepted and used by consumers. Are business customers seeing any benefits?
Sep 25, 2018
Mobile and branch channels can work together for bank efficiency and customer engagement. We provide some tips on how to do this.
May 8, 2018
Some banks are making other applications available through their bank app to add value and bring in more customers. What you should know before jumping in.
Nov 8, 2017
Person-to-person payments are hot with small and midsized businesses. A new study gives bankers more insight.
Feb 22, 2022
Despite an unprecedented need to help victims of natural disasters and wars around the world, humanitarian aid nonprofits and other organizations — along with their financial institutions — often face challenges transferring funds for aid to certain countries. This is primarily due to the risk of money laundering or terrorist financing. We review the government’s findings on how to improve this situation and what this could mean for community financial institutions.
May 26, 2021
The CDC reports that 25% of Americans live with a disability. So, it is important to provide accessible digital options for all. The key drivers include compliance, but also greater inclusivity and the best user experience. What accessibility features are available? Talk to your core provider to ensure you can support all of your customers now with the digital tools they need.
Sep 22, 2020
A strong complaint-management program is essential. We cover four key areas as a refresher.
Apr 2, 2020
Today we continue with the feedback we received from bankers on the most important regulatory concerns due to the coronavirus.
Apr 1, 2020
We recently asked community bankers for their top three regulatory concerns with COVID-19. Today is the first of a two-part series highlighting these paramount issues.
Mar 31, 2020
A joint statement of the regulatory agencies provides extra considerations for CRA points due to the coronavirus. We give you a summary.
Mar 25, 2020
The FOMC made drastic decisions in response to COVID-19 to support the economy. We capture the key points.
Mar 24, 2020
The FDIC FAQs for you and your customers are important to review. We give you the highlights.
Feb 24, 2020
Data privacy is a big issue these days that seems to be spreading nationwide. We provide you with some insight to help.
Jan 15, 2020
The FDIC and OCC have proposed changes to CRA regulations. We have an update.
Jul 31, 2019
There are advantages for farmers and community bankers alike, with the passing of the 2018 Farm Bill. But much remains unsettled as of yet.
Jun 6, 2019
California recently introduced an anti-displacement code of conduct for financial institutions. Here are some of the things you might want to know.
Feb 11, 2019
When it comes to targeting businesses that offer hemp products, things are shifting so bankers should be aware. A new farm bill legalizes hemp, but there are still challenges out there for bankers.
Nov 5, 2018
The most recent FDIC survey found that small business lending by banks has been significantly underestimated. We provide the interesting findings.
Aug 22, 2018
While cannabis is still illegal in the eyes of the federal government, legislative wheels are turning. We give you an update.
Apr 4, 2018
Banks in states with legalized marijuana may not want to support these businesses. Tips to spot disguised cannabis customers.
Sep 8, 2021
Planning for natural disasters is not new. But, with 100 climate- and weather-related global disasters happening between March and October 2020, the stakes have been raised. Since September is National Preparedness Month, it is a good time to review your business continuity plan with fresh eyes and communicate the steps to prepare with both employees and customers.
Dec 22, 2020
Bankers have been hesitant to support cannabis merchants despite the legal status of marijuana in many states. We give you an update on legislation, payment solutions, and trade group support that may indicate a changing tide.
Sep 16, 2020
Disasters keep striking. Take the time to review your disaster recovery strategies before you might need them.
Jul 17, 2019
A top Fed official has a message for banks that have been slow to start switching from using LIBOR as an index - get cracking. We provide the latest update on the LIBOR to SOFR transition.
Jul 11, 2019
About $30T in wealth is about to transition from baby boomers to their kids in coming years. As older customers pass away or move, their assets can easily get lost in the shuffle. We provide some tips to avoid unclaimed assets.
May 23, 2019
All banks should have the LIBOR-SOFR transition on their list and move it up in importance, as the 2021 deadline draws near. We give you some helpful tips.
Mar 13, 2019
Seniors lose $2.9B annually to financial abuse. We provide ways you can use your ALM process to help protect these customers.
Feb 19, 2019
A January 10th survey of economists by the Wall Street Journal finds on average a 25% chance of a recession within the next 12 months. So, what can you do to better prepare?
Feb 4, 2019
The latest Financial Stability Report by the Fed provides insight into borrowing by businesses. Some facts you may want to know.
Dec 6, 2018
Cisco reports that many small and medium-sized businesses can go out of business due to a cyberattack. How to help keep your business customers safe.
Dec 3, 2018
Vishing, the fraudulent tactic of phone calling for personal information, is on the rise. Make sure your bank customers aren't fooled.
Nov 21, 2018
Getting a loan from a large bank can be a challenge for a small business startup. This is good news for community banks.
Oct 15, 2018
When community banks evaluate commercial loan risk exposure, a key element is loan grade. Yet, not all banks have a uniform loan grading system. We present some interesting findings from an FDIC examination.
Oct 2, 2018
Community bankers know they need to prepare for disasters. But, in the wake of Hurricane Florence, we have some important reminders.
Apr 18, 2018
It is difficult for season business customers to manage through each season and it is not easy for their banker either. Fortunately, there are good approaches to minimizing risk when you lend to seasonal businesses.
Mar 28, 2018
Small-business loan delinquency rates have climbed a bit since their 2013 low. Some tips to manage this rising risk.
Mar 20, 2018
More than half of banks report that they are unable to combat and keep up with the rapidly changing nature of fraud schemes. Other highlights from a recent fraud survey.
Feb 3, 2023
A recent study says that a financial institution’s lack of support for local charities would push customers to move their accounts elsewhere. We explore how your CFI can pick charities that make the greatest impression on your customers.
Aug 6, 2021
Do your business customers include artists? If not, you could be missing out on an opportunity. Reaching out to artists not only helps them, but also expands your business and solidifies your commitment to your community. We lay out five ways that you can support artists and generate business, including displaying artwork, sponsoring shows, and financing the development of “art communities.”
Aug 26, 2021
In 1934, robbing a national or state bank of the Federal Reserve became a federal crime. While the rise of digital banking and cyber thievery has led to fewer in-branch robberies, branch security is still important. It can be challenging today with pandemic protocols such as social distancing and masks. Yet, these five security operations help you firm up your branch security.
Jan 5, 2022
The hike in inflation to 6.8% in November and the arrival of the Omicron variant have applied pressure for the Federal Reserve to increase interest rates. What will this do to deposits? While rates are still low, it’s critical for community financial institutions to retain their customers and their position as primary bank. Here are some tips to help increase customer stickiness.
Jan 15, 2021
Landscaping at your branch can help to engage your community and convey a message. We give you some examples of how your peers did this successfully.
Mar 4, 2020
While many branches are closing, reassessing and maximizing their value based on your customers' needs is the way to go.
Nov 4, 2022
Continuous reviews of your website’s user-friendliness can be the difference between a positive customer experience and a lost opportunity. A study by Forrester concludes that a well-designed and easily navigated website can increase your conversion rate — the rate at which visitors take actions, like submitting a contact form, that directly solicit your services on your site — by up to 400%.
Dec 8, 2022
Baby boomers are retiring at a rate of 10K per day, and along with those retirements will be a wave of small businesses passing on to younger generations. CFIs should identify small business customers likely to be impacted by baby boomer retirements and preemptively take steps to ensure those businesses will remain with their organizations long after their current owners have left the workforce.
Sep 12, 2022
Online gaming platforms have become extremely popular in recent years, with 76% of children under 18 playing regularly and connecting their parents’ credit cards and bank cards to their gaming accounts. Financial education about the risks of online gaming payments can add value for young and older customers alike.
Sep 13, 2022
Every CFI wants to attract new customers, and many have a marketing plan in place to help them accomplish this. The only problem is that CFIs don’t need just one marketing plan. They need multiple marketing plans to help them attract the different demographics within their customer bases. We explain how to develop customer segments and market to each one.
Sep 14, 2022
Financial institutions enjoyed client deposit surges through the end of last year, but extreme rate hikes from the Fed may change that. As CFIs feel pressure to raise their rates on deposits to keep customers, it’s important to consider what other strategies CFIs can deploy to retain deposit levels and client relationships.
Sep 15, 2022
Top-performing financial institutions had higher expenses last year, but also higher revenues and profit, as well as more loan growth. While their frugal peers may have been better at holding down costs, the higher performers got more bang for their buck.
Sep 22, 2022
Digitization is a critical component in CFIs’ efforts to remain competitive with fintechs and their largest peers, but the personalization of smaller banks is their most valuable asset. We explore how to reconcile these seemingly competing forces to achieve a digital experience that works for your customers and your CFI.
Sep 21, 2022
Universal retirement benefit plans are on the horizon for many states in the US, with proposed congressional legislation meaning potentially big changes for small business customers. CFIs can aid those small business customers with preemptive educational offerings to help prepare them for what’s to come.
Sep 23, 2022
Personal finance and financial health is top of mind for both Gen Zers and their parents. We look at some of the ways in which Gen Z learns about finances — and how CFIs can provide the financial education and advice that these customers want.
Oct 4, 2022
With inflation high and credit use rising, your customers may be more open to learning about sound financial practices. Community financial institutions can capitalize on these teachable moments by offering financial wellness education through an app, in a virtual classroom, or in-person.
Oct 14, 2022
When potential customers search for financial services online, where does your brand show up on the results page? Whether your brand comes up first or twenty-seventh, it’s important to stay up to date on what determines this ranking and make changes to your site accordingly. We’ve compiled a list of tips for enhancing your website with original, compelling content, as well as practices you should avoid.
Oct 18, 2022
The US dollar is at parity with the euro for the first time in 20Ys, and up against numerous other foreign currencies. That’s not necessarily a good thing for companies that do business overseas. American goods are more expensive, and the dollar’s strength deflates the value of funds earned overseas. We discuss ways you can support your commercial customers who have international business ventures.
Oct 25, 2022
Referral marketing is one of the most affordable and effective marketing strategies, but not all referral programs are created equal. We cover what CFIs should know about these programs, including examples to inspire you and six tips to improve your referral program.
Jun 3, 2022
CFIs that heed the call to expand digital offerings may overlook the extra pressure digital places on backup live agents. According to one study, more than half of self-service digital encounters by bank customers end in failure and wind up with a live agent.
Jun 7, 2022
CFIs are well-positioned to understand what is important to the communities they serve. By focusing on initiatives that are important to those communities, CFIs build strong relationships, grow loyal customer bases, and amplify the voices of those they serve. We provide three examples of how CFIs can do just that.
Jun 8, 2022
When CFIs create “green niches” that support fast-growing companies with environmental-friendly business models, it can prove to be quite profitable. Then add the bonus of delighting investors and satisfying regulators, well then, the trifecta can bring great dividends indeed. We share several ways that your institution can create a green niche through real industry examples.
Jun 13, 2022
CFI’s are exceptional at attracting new business. But according to a recent J.D. Power study, there is still room to improve in maintaining those customer relationships after they’ve been onboarded. We provide 3 tips for your institution to consider to help foster those relationships from the beginning.
Jun 22, 2022
It’s a common problem. Customers want personalized service, but are reluctant to share their personal data to power that. A smooth authentication process, as the first point of contact between a CFI and a customer, can help build the trust that customers need to forge a new or ongoing banking relationship, and offer CFIs access to their information.
Jun 23, 2022
There are 32.5MM small businesses in the US, generating 44% of economic activity — an attractive opportunity for financial service providers of all sizes. CFIs have a strong connection with small business customers and could leverage their understanding of the customers’ unique needs in order to create compelling propositions for them. We give you four strategies to help get you off to a good start.
Jul 5, 2022
High-quality conversations between employees and customers can be very beneficial for the bottom lines of community financial institutions. According to Gallup, effective conversations initiated by employees are four times more likely to result in sales. We provide three tips to achieve better customer engagement.
Jul 18, 2022
CFIs can’t rely on inertia to keep their customers. It can cost around $300 to acquire a single customer. By paying attention to the reasons that clients switch providers, you can help ensure that attrition doesn’t erode your customer base. We explore the key reasons that customers leave their banking institutions.
Jul 29, 2022
According to a recent report from McKinsey & Co., 71% of customers expect companies to personalize their interactions. Community Financial Institutions (CFIs) have traditionally delivered personalized experiences through their customer interactions and building strong relationships. But now, it’s vital to aggregate, integrate, and analyze customer data in ways that let CFIs anticipate and predict future needs.
Aug 24, 2022
In the competitive small business lending market, a clear understanding of business owner needs can go a long way to drive an institution’s loan portfolio growth. Gaining that edge takes hard work and sophisticated data mining. Here are four steps to make your SME loan strategy more holistic, ultimately resulting in increased revenue.
Apr 7, 2022
The Small Business Administration provided $85MM in microloans to 5,890 people in 2020. Many community financial institutions assisted in that business as intermediaries. These loans help startups and smaller businesses that might not be eligible for traditional loans. Are they worthwhile for your institution? We explore this lending sector.
Apr 14, 2022
Minority-owned businesses play an increasingly important role in the US economy, generating $1.7T in revenue and providing more than 8.9MM jobs. Yet many are still finding it tough to access finance to grow and expand. Recently, the government increased its efforts to improve the situation. Here are five efforts that community financial institutions can do to help address this challenge.
Apr 27, 2022
Return on Experience (ROX) is a fairly new metric for financial institutions. Yet, one survey has found it to be a powerful metric. The study found that financial institutions that grew 10% or more had stronger ROX programs than those that didn’t. We explore this new performance metric.
Apr 28, 2022
Financial literacy is crucial for banking customers’ financial well-being and it is an ongoing issue that community bankers are tackling head-on. Most recently, community bankers, together with state businesses and political leaders, spearheaded successful financial literacy legislation in Nebraska. We review how they did it along with the current situation in other areas to inspire other community bankers.
May 2, 2022
Online reviews are gaining importance. In fact, 79% of people trust the online reviews of strangers, as much as they do recommendations from family and friends. Community financial institutions need to actively monitor and manage their online reviews, in order to continue developing and deepening customer relationships. So, we explore how to get online reviews and manage this process.
May 9, 2022
Virtual payment cards have been around for a while. But, their use is increasing. Global virtual card spending is expected to reach $355B in 2022. Businesses are finding several uses and benefits in using virtual payment cards. Community financial institutions will want to take note, so that they can be prepared to best support them.
May 23, 2022
Many farmers have been reaping the benefits of rising commodity prices, some higher than 140% over the past 18 months. Yet, the Russian invasion of Ukraine changed the direction of the wind for many farmers. How will your agricultural customers fare through the geopolitical turmoil?
May 25, 2022
Is construction ebbing or flowing? It depends. Commercial construction spending was down in March. Yet, architecture backlogs are full. Community financial institutions having construction loans in their portfolios will need to firm up risk mitigation, as they closely watch economic indicators. Here are three reminders to lower the risk with these loans in your portfolio.
May 26, 2022
According to the FDIC, there are approximately 7MM US households that remain unbanked and over 50MM that are underbanked. These groups have received more attention from regulators lately. While we know you are reaching out to them in your communities, we give you five strategies to help engage these potential customers.
Jan 6, 2022
The agriculture industry appears to have experienced a turnaround during 2021. The USDA expects 2021 net farm income to increase by 23% YoY. We take a look at what has driven the recovery this past year, review the outlook for 2022, and suggest three ways in which community financial institutions could reap the most from this boom.
Jan 18, 2022
Community financial institutions know their customers well. Yet, this is no time for complacency as competitors abound. Technology is an important tool in understanding your customers’ shifting needs. Here are three key areas to use technology to more effectively respond to your customers.
Jan 31, 2022
Around 55Ys ago, the USPS ended its postal banking services. Yet, a new USPS check-cashing pilot program seems to be indicating a possible resurgence. The stimulus checks from the pandemic shined a light on the issues for the unbanked in accessing these funds. Now, with some bipartisan momentum, USPS could become a competitor to many community financial institutions. We unpack the details and give some insights.
Feb 1, 2022
With the explosion of gig workers, the needs of some small businesses have changed. Many self-employed business owners are looking for time-efficient, digital financial services so that they can focus on growing their businesses. Here are five important areas to address in successfully appealing to these businesses.
Feb 25, 2022
As small and midsize businesses are optimistic, 90% anticipate their business will expand successfully. Many of these businesses will need funding to fuel this expansion, especially with increasing costs. Here are three ways to tap into business optimism and growth.
Mar 1, 2022
Looking for international business customers? You don’t need to look far. Many reside in your communities, but in places that you may not consider. According to JPMorgan Chase, 14% of SMBs plan on expanding beyond US borders in the next 3Ys. We uncover three places to find SMBs needing international services.
Mar 2, 2022
TikTok is one of the most popular social media platforms and community financial institutions should strongly consider using it for marketing. With 689MM users worldwide, opportunities abound to reach new customers and expand brand awareness. We offer more reasons to consider this platform, along with TikTok’s content creation guidelines.
Mar 4, 2022
Customer loyalty is considered the key to customer retention. An important part of that loyalty is customer effort. Do your customers have to work hard to access your products and services? Unhappy customers cost companies $75B globally, so it is important to minimize your customers’ efforts. We show you five areas to be especially watchful.
Mar 8, 2022
Some community financial institutions may not think that cross-border remittances are in demand in their communities. Yet, in its November report, the World Bank projected growth of 7.3% of remittance payment volume in 2021. Could some of this spill over into your footprint? Here are three ways to successfully provide remittance services.
Mar 14, 2022
With interest rates set to rise in the coming months, some banking customers may be tempted to shop around for the best deals. Effective customer profitability analysis allows community financial institutions to better retain and target new customers, while increasing overall customer profitability. We share some lessons from institutions that have successfully implemented these models along with three ways to increase customer profitability.
Sep 20, 2021
As big banks JPMorgan Chase and BBVA pulled the plug on their “digital-only” brands, Finn and Simple, you would think community financial institutions would stay away from this endeavor. Yet, a peer in MA recently launched its own “digital-only” brand. Is this something for other community financial institutions to consider? Here are some of the advantages for your consideration.
Sep 29, 2021
Nonemployer firms, which consist of only the owner, have had a hard time with funding, according to a recent report from the Federal Reserve. While 41% of these small businesses reached out to big banks for PPP loans, only 52% of those received the funds they wanted. Community financial institutions have an opportunity with this sector.
Oct 1, 2021
America’s 72MM baby boomers are starting to retire. Given that they own approximately 40% of small businesses, is your community financial institution prepared for the resulting shift in ownership and transfer of wealth? We provide three strategies to pave the way for a successful transition — start the conversation with your clients early, establish a relationship with the new owners, and onboard them seamlessly.
Oct 6, 2021
The federal eviction moratorium has ended, which gives landlords more control over their income flow. Yet, the situation is still complicated for landlords and the community financial institutions that lend to them. We explore the economic landscape and provide three strategies for lenders to use with their landlord customers.
Oct 7, 2021
Credit unions have now acquired more than 100 community banks since 2013. We have seen this M&A activity ebb and flow, but right now it seems to be flowing. Here is an update with some of the advantages and disadvantages of these deals, while discussing the credit union tax exemption.
Oct 22, 2021
Nearly 40% of American adults are now using mobile banking apps. With the pandemic accelerating existing digital trends, many community financial institutions may be wondering if expanding technology threatens their highly personal customer relationship model. But digital technology can be a powerful way to enhance the personal touch. Here are some ideas to get you started.
Nov 10, 2021
Blogging may not sound like a serious marketing activity, but it is one of the most popular ways to connect with customers and leads these days. In fact, 91% of B2B companies use blogs or similar content marketing. If you want to start blogging or simply fine-tune your skills, here are six steps to creating a successful blog post.
Nov 16, 2021
Community financial institutions know all about customer service and customer research. However, there are many ways to use this research. Are you ready to use it for your larger business goals? ROI could be as high as 7x when coupled with analytics tools. We highlight three areas to effectively use customer research.
Dec 2, 2021
Supply shortages have been affecting all businesses to some degree since the start of the pandemic. But, with the holiday season upon us, small businesses are finding supply chain issues especially difficult. We lay out the current situation, how it specifically affects small businesses, and what community financial institutions can do to help.
Dec 16, 2021
Middle-market businesses ($10MM to $1B) may be overlooked by community financial institutions for a variety of reasons. However, now may be the time to reassess these customers. The Harvard Business Review found that many of these companies experience 10% growth YoY. We lay out the profile of this business, the competition, and three reasons why your institution should consider wooing these customers.
Jul 15, 2021
Have you reviewed your institution’s branding lately? If not, it may be time to do so. Competition is fierce, so it is important to stand out and communicate your values to your customers and prospects. We give you five indicators that your branding needs a makeover, including a similar name as others, a recent big change, and lacking a distinctive tagline.
Jul 19, 2021
With the recent cyberattack on Kaseya, cyber concerns remain high among many businesses, especially small businesses. For good reason, as 43% of cyberattacks target small businesses. Community financial institutions may want to familiarize themselves with cyber insurance basics to help guide their business customers as more may turn to insurance to protect themselves. We provide four cyber insurance considerations.
Jul 20, 2021
The FDIC’s technology lab, FDITECH, recently announced its launch of a tech sprint to provide the right tools for community financial institutions to engage with the unbanked. We give you an update on this project, along with the current costs for the unbanked and the opportunities for institutions that can connect with them.
Jul 23, 2021
Millennials seem to be lagging behind their generational cohorts financially. Yet, there are indicators that this could be changing. Compared to baby boomers, millennials had higher incomes and more financial assets at 40. Let’s look at the financial challenges this demographic faces and the traits that make them solid, profitable bank customers.
Aug 10, 2021
During the pandemic, Coalition Greenwich estimated that 3x as many small and midsize businesses likely switched financial institutions due to their dissatisfaction. Since many CFIs were on the receiving end of this switch, it is important to retain these new customers. We discuss two important customer retention strategies to use in your upcoming customer discussions.
Aug 12, 2021
Bank of America recently projected that Gen Z will be the “most disruptive generation ever.” Not only is their income expected to exceed that of millennials in 10Ys, but they are also more highly educated than their cohorts. Let’s explore three approaches to engage them and gain a competitive advantage.
Aug 16, 2021
Many SMBs are still using manual AP processes, which are inefficient and more costly. As a trusted advisor to your customers, you can help them automate their AP systems. Three ways to do this are: helping them streamline cash flow, reminding them of the cost savings, and providing them with a white-label solution.
Aug 18, 2021
Your customers rely on you for effective communications. Yet, there are many ways to send customer communications, including email, text, website chats, and even social media. So, which channel is the right one? Email is the most prevalent, but about a quarter of customers value communications from their financial institutions through other channels. There are three important tips for effective customer communication.
Aug 23, 2021
The hospitality industry was hit hard by the effects of the coronavirus. Yet, community financial institutions that lend to hotels and other hospitality-industry businesses are seeing a drop in loan delinquencies. With the recent Delta variant and increasing rates of infection, will loan delinquencies change course and do a U-turn?
Aug 24, 2021
With 8MM minority-owned businesses in the US, many are having a hard time finding funding. Financial institutions, large and small, are stepping up to help them. While we know that community financial institutions are masters at assisting their communities, we highlight four important ways financial institutions are supporting minority-owned businesses.
Aug 25, 2021
The US real-time payments market is expected to reach $4.2B in transaction volume by 2024. With this level of growth, more players are entering the field. Barclays recently partnered with Mastercard to launch a real-time payment system in the UK and Europe. This could be important even to community financial institutions in the US.
May 6, 2021
The pandemic has changed many things for bankers, including their marketing. As businesses reopen and consumers start spending, we enter into the “new normal” which is a time to reassess marketing plans, as customer needs change. We provide you with four ways to effectively reach your customers for the biggest bang for your marketing buck.
May 14, 2021
The annualized GDP rate for Q1 was 6.4% putting us on track for recovery, as vaccinations continue to roll out, infections are down, and businesses open up. The CRE industry is getting a boost too. We share the latest trends affecting retail, hospitality & travel, office space, and industrial industry segments.
May 17, 2021
Podcasts are smart marketing. They have a recall rate 4x higher than other digital channels and the number of US podcast listeners is expected to grow 16% YoY to over 106MM. If you want to start a podcast, the steps include planning a series, reviewing other podcasts, and finalizing your podcast format.
May 25, 2021
As the economy opens up more and more, community financial institutions will be looking for ways to use their liquidity and boost SMB lending. We give you a few ways to do that: leverage automated processes, continue to offer SBA loans, boost construction lending (in the right markets), and create new lending niches.
May 27, 2021
Did you know that gig workers make up over one-third of the workforce in the US? Yet, their financial needs are mainly addressed by fintechs. We bring you up-to-speed on this labor sector including the reasons they want to work independently, why conventional risk assessment may not work, how fintechs are courting gig workers, and what financial services gig workers need.
May 28, 2021
Complaints on social media have risen as people become more comfortable airing their grievances online. Not only that, 48% of consumers use social media before buying products or services. Solving the problem is important, but doing so privately is key. Otherwise, you could run into overshadowing of other customers’ positive comments and even the loss of social media engagement with your customers.
Jun 8, 2021
Businesses are opening up countrywide. But, with the ongoing supply chain issues and price pressures, many small businesses are struggling. There are several opportunities for community financial institutions to assist these businesses in their community, including the Restaurant Revitalization Fund, short-term funding, and advisory expertise.
Jun 10, 2021
A neo bank in Spain created its own private social network for its customers. While community financial institutions don’t compete with this bank, we thought this approach to customer engagement provided a fresh perspective on how we can interact with our customers. We explore what this private social network does, how it adds value, and why content is always king.
Jun 22, 2021
With Square officially becoming a bank and Google and Amazon intent on staying active in the financial services industry, competition is heating up. What are these technology vendors doing and how should you ensure your customer relationships are solid so you remain competitive? We answer those questions for you.
Jul 1, 2021
Small business optimism is up from last year. Yet, small businesses are still facing several challenges, including labor shortages and supply chain disruptions. So, they will likely continue to lean on community financial institutions for support. These approaches help your institution get them back on their feet quickly.
Jul 12, 2021
Lending is at an all-time low for many financial institutions. Using data can expand your SBA lending and supplement your loan portfolio with the lower risk of government-backed loans. We explore three data strategies to increase your lending efforts, including using third-party data, leveraging your CRM data, and even mining your loan data.
Apr 8, 2021
Generation Z’s spending power is $3.4T globally and $143B in the States alone. They are becoming a powerful force, yet they welcome guidance and advice. Community financial institutions have an opportunity to reach these 78MM Americans by offering entrepreneurial guidance, providing financial education, and connecting with their altruism.
Apr 9, 2021
Research has found that people who take care of themselves physically, are also more financially fit. Having all-around healthy bank customers can increase a community financial institution’s profitability. So, we bring you three examples of financial institutions that are incentivizing their customers to stay physically fit and financially healthy.
Apr 13, 2021
According to one estimate, tenants now owe more than $70B in back rent and utility bills and are on average nearly four months behind on rent. While the recovery seems to be gathering steam, how can community financial institutions help their landlord clients stay on track? We provide four ways: defer payments, obtain federal assistance, provide short-term loans, and educate landlords.
Apr 16, 2021
The cross-border payments market is valued at $21T and is growing at a 90% compound annual growth rate. This is one big reason to consider providing cross-border payments to your business customers. We have four more: small and medium businesses are engaging in more foreign trade, they trust their banks for help, you generate more fee income, and you can strengthen your relationship with your customers.
Apr 21, 2021
The Paycheck Protection Program has been a lifesaver for many small businesses. With some recent changes, both your current business customers and new ones could still receive much-needed assistance. The program has been extended, proceeds have potentially increased for Schedule C filers, eligibility has been expanded, and new forms facilitate streamlined processing.
Apr 1, 2021
The Federal Reserve is making good progress on its FedNow Service – it expects to launch it in 2023. Before we know it, 2023 will be here. So, to keep you informed, we are providing you with the program details, ISO specs, program advantages, and some information on the pilot that is underway. Since we are participating in the pilot, we will give you these updates regularly.
Mar 25, 2021
The WTO forecasts trade volumes will increase by 7.2% in 2021, bringing back robust global commerce. With that, community financial institutions will want to support their international business customers and trade finance is one way to do that. Not only does this help your customer, but your institution benefits as well with good returns, resilient assets, low defaults, and more.
Mar 24, 2021
Going viral may only seem relevant for those on TikTok or teenagers, but some community financial institutions could use this marketing tactic to entice the ever-increasing Gen Z bank customer. We highlight how video clips and posts can go viral using popularity, trust, shared identity, and fear factor drivers.
Mar 22, 2021
It appears that we are nearing the tail-end of the pandemic and so it is an important time to review customer profitability. To guide you through this assessment, we cover three key areas that impact customer profitability: interest income, noninterest income and expenses, and credit costs.
Mar 17, 2021
The percentage of immigrants as a share of the population has grown in the last 40Ys to 13.7% vs. 4.8% in 1970. We found 5 interesting ways that your peers are supporting their foreign-born community members, including alternative credit scoring, microbusiness loans, small-dollar loans, and more.
Mar 12, 2021
According to the CFE Fund, 36MM adults are underbanked or unbanked. Not only that, $66MM in check-cashing fees was spent by Americans to access their stimulus funds. Bank On is an important initiative that is now available at more than 28K bank and credit union branches nationally. We explain why this initiative is catching on and how you can participate.
Mar 11, 2021
As your small business customers expand to Canada, Mexico, and beyond, you will want to grow with them. If you provide international payment services, you can support them and gain valuable fee income. We map out what these customers are looking for in international payment solutions.
Mar 8, 2021
Community financial institutions are always thinking of their customers. Yet, with banking behavior changing and banking options exploding, it is especially important to stay focused on the customer experience. To keep you on track, we highlight three areas of focus: accessibility, security, and real-time assistance.
Mar 2, 2021
Peak oil, where demand and production stop rising and start to decline, may begin in the next few years. Even though many community financial institutions are not directly lending to oil producers, they could still be affected. Three areas where they should keep watch: in the oil patch, near the oil patch, and around oil industry-impacted businesses.
Feb 26, 2021
The IRS recently provided guidance on certain tax breaks for forgiven PPP loans. With a large number of community financial institutions providing these loans, it is important to pass this information on to borrowers. We give you a short summary of the allowed deductions and how the reporting rules were modified for financial institutions providing these loans.
Feb 25, 2021
As the pandemic continues and tenants struggle to pay rent, small landlords could suffer, and with them, their lenders. Yet, there are several ways community financial institutions can help their borrowers, and themselves, including government-backed loan forbearance programs, additional PPP or SBA loans, and new customized ways to work with your borrowers.
Feb 24, 2021
The roles of financial institution CEOs have changed over the past years. The evolved leader embodies characteristics of being purpose-driven, accessible, and vocal. These traits along with more targeted and transparent messaging and digital visibility help community financial institution leaders to better guide their communities through this economic recovery.
Feb 23, 2021
The global biometrics market is expected to hit $68.6B in 2025. While community financial institutions should be incorporating biometrics to protect customer data, they also need to mitigate the risks associated with biometrics. Data breaches, AI use to mimic behavioral biometrics, and security system workarounds are a few risks that need to be mitigated to stay safe as biometrics are integrated.
Feb 22, 2021
Savings rates soared to a high of 33.7% in April of last year. While we are still waiting for a full recovery and more normalized savings rates, you will want to proactively plan to retain deposits for when that time comes. To get you started, we lay out some ways to do this with savings-as-a-service and savings apps, whether in-house or through a partnership.
Feb 16, 2021
Partnerships with fintechs have been increasing, due to the digitization spurred by the pandemic. Several community financial institutions are among those institutions engaging more with fintechs. We have three secrets for successful fintech partnerships to share, some of which came from your peers: fintech flexibility, removing internal barriers, and involving staff.
Feb 9, 2021
Influencer marketing, asking people with a large social media following and high credibility in the field to spread your message, is a big deal right now and bankers are taking notice. It is one way to attract more customers and new talent. A few of your peers have broken ground with influencer marketing. We share their stories and give you information on paid and earned influencer marketing.
Feb 5, 2021
The pandemic has harmed many businesses and shuttered many for good. Yet, eager startups are finding opportunities as well. We cover the elements of the economic environment that are fueling these startups (and potential new customers) and highlight areas that have done especially well.
Jan 22, 2021
Javelin Strategy & Research finds that businesses accepting digital payments of all kinds increased to 53% during the pandemic. This creates five opportunities for community financial institutions.
Jan 14, 2021
First Uber and now Goldman Sachs. Embedded banking is growing with Goldman Sachs recently joining this market. We lay it out for you so you can consider its effects and start to prepare.
Jan 13, 2021
Do you want to acquire new customers? Merchant businesses can provide you with more revenue and are cross-sold on more products faster.
Dec 30, 2020
While the BID takes a rest for the holidays, we revisit some of 2020's most popular articles.
Dec 28, 2020
While the BID takes a rest for the holidays, we revisit some of 2020's most popular articles.
Dec 23, 2020
Community banks have many challenges these days. Hear from two of the oldest community banks, as they share lessons in longevity to inspire you.
Dec 16, 2020
Commercial real estate (CRE) has been hit hard. Your CRE borrowers are exploring creative opportunities to sublease their properties. Here are three innovative options that have sprung up.
Nov 25, 2020
Credential stuffing is a common cyberattack that can lead to account takeover. What you should know to stay safe.
Nov 18, 2020
There have been several studies on millennials. We bring you some highlights so you can create more connections with these customers.
Nov 17, 2020
While the coronavirus had thrown import and export business for a loop, trade is starting to normalize. So, it is a good time to think of how to serve international business customers.
Nov 12, 2020
Wealth management services may be the way to generate more fee income for your customer base. Here are three proven success tips for launching wealth management.
Nov 6, 2020
Pandemic-specific loyalty rewards are popular. We share four of them to consider for your program.
Nov 5, 2020
For our monthly I&I issue, we share questions on women and minority-owned businesses, digital-first credit cards, and remote employee feedback.
Nov 4, 2020
It has been reported that 70% of Americans are stressed about the economy and work. We provide three ways to help your customers through their financial anxiety.
Oct 29, 2020
The majority of bankers these days are working on implementing technologies to keep their customers happy. We give you four mistakes to avoid when doing so.
Oct 26, 2020
Even though the pandemic has sidelined many businesses, 20% of entrepreneurs are launching new business opportunities. Community financial institutions can form new relationships as they help these die-hard business owners.
Oct 22, 2020
There are opportunities to reach out to diverse communities and cultivate new customer relationships. We give you three ways to do it.
Oct 20, 2020
Today we share some of the highlights of conversations we have had with bankers on lending and their planning for 2021.
Oct 19, 2020
Many fintechs and merchants now provide aggregated bill payment offerings. Should your institution be offering this to your customers?
Oct 16, 2020
A number of community financial institutions are participating in the Main Street Lending Program. We show you three strategies to gain market share through it.
Oct 15, 2020
Faster payments are here and the options are expanding. What you need to know.
Oct 9, 2020
After several months of declining optimism, business owners are feeling more positive. We highlight some of the latest signs.
Oct 8, 2020
During the pandemic, child care has become a major issue, as child care facilities closed or were given strict limits. We provide three strategies to assist for a smooth transition back to the office.
Oct 2, 2020
During the pandemic, you can stand out even more with creative ways to thank your customers and support your community.
Sep 29, 2020
Gen Z will represent the largest consumer population in 2026. Four ways to gain and retain them as business customers.
Sep 21, 2020
The coronavirus has prompted the revival of the drive-through teller. Should you consider expanding this banking channel?
Sep 1, 2020
AI decision-making systems can help community financial institutions to eliminate bias in credit decisions. We explain how to do it.
Aug 31, 2020
Decision trees help employees handle customer issues. We have six tips to use this tool successfully.
Aug 26, 2020
As you work with your customers during these tough times, we have five strategies that may help mitigate the credit crunch.
Aug 24, 2020
Google recently announced an expansion of its banking partnerships in digital banking services. We explore some of the benefits to consider in fintech partnerships.
Aug 20, 2020
The move to increasingly high-speed networks with 5G is a potent change. We give you four areas in banking that will be affected.
Aug 14, 2020
Though you are likely cooking up all sorts of activities to de-stress your employees and customers, we wanted to offer some creative ways to help.
Aug 13, 2020
With PPP loans on your books, is it best to keep them, sell them, or hire a vendor to help? We run through these options.
Aug 11, 2020
Customer review sites are now being used to inform on businesses' safety efforts. This could be another channel for your institution to assure customers about safety measures during COVID-19.
Aug 10, 2020
The Main Street Lending Program is one government program that hasn't received much attention. We share some of the experiences from your peers who have begun to offer loans through this federal program.
Aug 4, 2020
Coins are in short supply due to the pandemic. Here are a few strategies for community financial institutions and their businesses to manage through this shortage.
Jul 31, 2020
Gig work is growing, both in the number of jobs and revenue. We explore how you can potentially acquire this customer segment.
Jul 30, 2020
Women have been hit hard financially during the pandemic. We give you four strategic elements to include in your efforts to attract and retain women customers.
Jul 27, 2020
After the global slowdown ends, international business will expand again. We offer you steps to guide your international customers when this happens.
Jul 14, 2020
Twenty percent of small businesses said they were likely to switch financial institutions after going through the PPP process. This could be good for community financial institutions.
Jul 9, 2020
As businesses reopen and change gears, it may be time for community financial institutions to refine some of their lending processes. We give you three ways to do that.
Jul 8, 2020
As coronavirus cases rise, there is renewed concern of a second wave. With this in mind, we give you some actions to consider to fine-tune your operations during this time.
Jul 6, 2020
As bankers get back to work in the branch, there are questions to answer. Today, we discuss how to make both customers and employees comfortable in the branch and how to hire virtually.
Jun 24, 2020
Some of your customers will need PPP loan forgiveness. We provide you with six pointers to help them through the process.
Jun 23, 2020
Community financial institutions are always supporting their communities. Yet, with the recent shift in public sentiment, it could be worthwhile to ensure your community alignment.
Jun 22, 2020
A new bankruptcy code, Subchapter V, recently took effect and is available to small businesses. Could this be helpful for your customers?
Jun 19, 2020
As states start reopening widely, financial institutions are beginning to resume full operations and reopen some branches. We have a short checklist to get you ready.
Jun 17, 2020
As the PPP deadline draws near, opportunities still exist to help small businesses. We explore where to locate more customers, new legislation, and looking beyond PPP.
Jun 16, 2020
Due to COVID-19, more seniors have been using digital banking. We provide ways to keep them engaged as digital users.
Jun 8, 2020
Financial institutions that participated in the PPP should celebrate their successes. Yet, there are also some post-lending tasks to stay on top of.
Jun 3, 2020
CRE loans are being impacted by COVID-19 depending on the type. Let's discuss the latest stats and how it may impact your business.
Jun 2, 2020
Besides helping out businesses in need, community financial institutions using the PPP for their customers will likely reap other long-term benefits.
May 29, 2020
Reopening businesses require new protocols -- and it looks like technology will play a major role in these efforts.
May 28, 2020
Many banks have been assessing their lending criteria and tightening their standards. To show what your peers are doing, we provide you with some highlights of the Fed's latest bank lending practices report.
May 26, 2020
With COVID-19 and its lockdown effects, acceptance of mobile apps for credit cards has certainly increased. We provide you with some insights to prepare for this trend.
May 22, 2020
Returning back to the office after the pandemic might not be far off. We share several tips to consider in reopening your branches.
May 19, 2020
In continued support of businesses, the Fed announced its Main Street Lending Program. We give you the important highlights.
May 15, 2020
There seem to be physical, economic, and social differences in the way the coronavirus is affecting men and women. We lay some of them out for you.
May 11, 2020
Small businesses account for about 50% of US GDP. Today, we review the state of small business during this crisis.
May 8, 2020
Consumer behavior has changed due to the coronavirus. We give you the highlights.
May 1, 2020
Some businesses and companies have already started reopening, but things will be different. Office design and practices will change due to COVID-19.
Apr 29, 2020
In this 2-part series, we discuss customer and financial institution shifts due to COVID-19 and which ones will last. Today, we look at the customer.
Apr 24, 2020
Social media may not be top of mind right now, but, it is a useful communication channel for many of your business customers. We have three effective ways to use social media during COVID-19.
Apr 23, 2020
Keeping investments together these days isn't easy for your CRE borrowers. Top three things to do to protect your CRE loan portfolio.
Apr 22, 2020
What is the economic outlook for the next three to nine months? Join us as we summarize key elements of job loss and economic recovery and provide tips to translate these conditions into your financial reports.
Apr 17, 2020
During this pandemic, communication has focused on being immediate, urgent and short. As things start leveling off a bit, your communications will change too.
Apr 8, 2020
Today we answer some important questions around the coronavirus, your customers and your employees.
Apr 3, 2020
We like to look at what the big banks are doing to learn what could be done on a smaller scale. So, today, we share how the big banks are managing COVID-19.
Mar 23, 2020
During this tumultuous time, we wanted to provide you with some initial insights into how the coronavirus may affect housing, jobs and ultimately your business customers.
Mar 20, 2020
Loan growth is expected to be challenging this year. We help you whittle down some of the obstacles.
Mar 9, 2020
Credit cards for entrepreneurs could be an untapped market for community financial institutions. This insight comes from a few different studies, which we want to highlight today.
Mar 6, 2020
The competition for deposits is fierce, as fintechs and big tech enter an already crowded space. There are many ways to compete here, so we thought we could provide you with some suggestions.
Feb 28, 2020
A large percentage of consumers are distrusting of the ability of organizations collecting their data to keep it secure. We provide some ways to reassure your customers.
Feb 10, 2020
The SEC's inaugural report on small business capital development caught our eye. We provide you with some of the highlights.
Feb 5, 2020
As community financial institutions know, lending to small businesses can be tricky, especially if they are new ones. We provide some insight on the matter.
Jan 30, 2020
Technology can be pretty amazing, but for community financial institutions, it can cause sleepless nights too. We have some suggestions to help.
Jan 28, 2020
Social media presents a myriad of challenges for financial institutions. Yet, as your customer demographics shift, it becomes more important. We have some tips.
Jan 27, 2020
A risk-based pricing strategy can give community financial institutions a chance to improve market share without also increasing risk.
Jan 22, 2020
Some financial institutions are taking a page from Netflix's playbook these days, by analyzing data from individual customers to provide them with extremely tailored offerings. Is this a move for you?
Jan 16, 2020
Many community financial institutions haven't seen the growth in small businesses that they'd like. We have some tips.
Dec 19, 2019
The needs of start-up customers are sometimes different than those of other small businesses. We provide you with some insight on this.
Dec 16, 2019
Many younger people are concerned with financial security. Could wealth management be a gateway for millennial customer acquisition?
Dec 3, 2019
Consolidation is intensifying competition. We provide some practical approaches for this tough market.
Nov 25, 2019
Google recently launched a program for small businesses called Stride. Are they trying to grab your customers?
Nov 21, 2019
Negative interest rates are now in discussion in the US. What you should know.
Nov 19, 2019
The EXIM lets community banks write bigger lines of credit with less risk and stronger profits. What your institution should know.
Nov 15, 2019
Small businesses are the mainstay for community banks. So today, we provide you with an updated small business snapshot.
Nov 5, 2019
Congress passed the Family Farm Relief Act, which extends Chapter 12 bankruptcy to more farmers with greater debts. What does this mean for you and your ag customers?
Nov 4, 2019
Today we provide insight to customer inquiries on bank charters, ADA accommodations and the possible effects of tariffs.
Oct 30, 2019
If you are looking for more customers, the unbanked and underbanked may be worth reviewing. We give you some things to think about here.
Oct 28, 2019
When it comes to using alternative data, some financial institutions don't trust it very much, while others are tinkering with it. What you should know.
Oct 24, 2019
The NY Fed's most recent survey on nonemployer firms shows 43% have unmet funding needs. This could be an opportunity for your institution.
Oct 23, 2019
With more SMBs buying and selling overseas as well as traveling internationally, there is a growing demand for foreign bank notes and other international services. Can you meet this demand?
Oct 18, 2019
Contact EMV chip technology has its feet firmly planted in the US and adoption continues to increase. We provide the latest news.
Oct 17, 2019
McKinsey reports that more people and entities will regularly use international payments in the next 5Ys. Is your institution ready for this?
Oct 7, 2019
Bank-at-work programs allow busy customers or prospects to easily engage with your financial experts during work hours. Is this something for your bank?
Sep 20, 2019
Many community banks are looking to increase their back office efficiency and provide faster availability of funds, with checks between the US and Canada. We explain how this can be done.
Sep 10, 2019
Customer fees are a good source of revenue for financial institutions. But, can elective fees work?
Sep 9, 2019
Small businesses are at the forefront of international trade. We provide tips to ensure they come to you for international services.
Sep 6, 2019
Looking for ideas to enhance communication with your customers? We provide some new insight.
Sep 5, 2019
Closing an account is never fun. But, doing it the right way could earn you points with the customer.
Aug 30, 2019
Almost 33% of consumers and business owners agree that new technology will lead to safer payments. Subsequently, businesses are increasingly accepting card and digital payments. Can your bank support them?
Aug 29, 2019
Trust is incredibly important. It makes employees more productive and customers more loyal. We provide tips to help with both.
Aug 23, 2019
"Self-driving" payroll, which is on-demand access to one's pay, is gaining steam, particularly with gig workers, and banks are taking notice.
Aug 22, 2019
CRE lending competition is heating up, mainly due to nonbank lenders. We give you an update.
Aug 20, 2019
Social media audiences have changed. Is your financial institution paying attention?
Aug 16, 2019
A recent study found that 75% of millennials choose their banks based on recommendations from family and friends. We show how to attract millennials through your baby boomer customers.
Aug 12, 2019
Contactless payment has struggled in the US. But, it appears that is about to change.
Aug 7, 2019
According to the findings of a Nobel-Prize winning economist, what people remember about an experience is the end. We explain how this can help your bank.
Aug 5, 2019
Community banks do creative community involvement well. We share a few examples.
Jul 26, 2019
Community banks should be among the beneficiaries of a rule change impacting how the biggest banks calculate their adherence to Liquidity Coverage Ratios, We give you an update.
Jul 12, 2019
The findings from a recent study may give bankers food for thought on how they address new products and services. We give you the highlights.
Jul 2, 2019
SMBs have converted to many digital services. Yet, e-invoicing still has not taken off. We provide some insight.
Jun 27, 2019
No matter your bank's situation, there are still some ways to hunt and win valuable deposit customers.
Jun 25, 2019
HSBC and Goldman Sachs have invested in a fintech platform which allows banks to offer products from their rivals. This may sound counterintuitive, but could it help your bank and your customers?
Jun 21, 2019
In the business world, checks have been the preferred method of payment for eons. That is definitely changing. How to prepare your business customers.
Jun 14, 2019
Big data is supposed to give banks' customers exactly what they need at the time they need it. Although this hasn't exactly happened yet, we are making progress
Jun 7, 2019
Have you integrated your digital and nondigital marketing? It may be time.
Jun 5, 2019
A B corporation is a business that's been certified for following best practices in balancing purpose with profit. Is this something your bank should pursue?
Jun 3, 2019
Although the top five American banks control most of the US market for deposits, there are still things community banks can do - even without raising rates or decreasing lending.
May 31, 2019
It was recently reported that immigrants to the US now make up nearly one-third of all US entrepreneurs. We provide tips on how to attract and retain this important group of business customers.
May 29, 2019
Opportunity zones from the Tax Cuts and Jobs Act may provide community banks with new loans and new customers. We give you an update.
May 22, 2019
Just because some retailers close doesn't mean all of your loans in this sector to all types of retailers are in danger. We give you the rundown on this lending sector.
May 20, 2019
Chatbots are becoming more sophisticated, and bank customers seem more willing to use them. Is now the time to start using chatbots at your bank?
Apr 25, 2019
Many customers expect more than great products and services at competitive prices - they expect companies (including banks) to stand for something. Is your bank purpose-driven?
Apr 24, 2019
Hospitality lending can be a good niche for many community banks that do it right. There are definitely unique challenges to the sector, but with the right expertise and technology, the profit on high-yielding hotel loans can outweigh the risks.
Apr 19, 2019
Small businesses are increasingly selling local, but thinking global. Community banks can increase and build deeper relationships by helping these business customers go international.
Apr 10, 2019
Bankers everywhere want to modernize rapidly in order to meet their customers' expectations. To reach that goal, some are seeking fintech partners. What to consider if you find yourself ready for this partnership.
Mar 25, 2019
The demand for commercial and industrial (C&I) loans is alive and well it seems. Make sure your lending team is ready to pounce.
Mar 22, 2019
While 33% of baby boomer business owners plan to transfer ownership within the next 5Ys, 36% have yet to figure out how that will happen. What this means for your bank.
Mar 15, 2019
Small business owners have given up around $43k on average in lost opportunities because of insufficient cash flow issues. Here's how your bank can help these customers.
Mar 14, 2019
Fifty-eight percent of bankers surveyed last year said they expect to begin using or increasing their use of reciprocal deposits promptly, due to the new S.2155 law provisions. We break down the details for you.
Mar 12, 2019
According to the Kauffman Index, the percentage of "encore entrepreneurs" has risen to 24.3% and is the largest gain of any age group. Find out who these entrepreneurs are and how your bank could help them.
Feb 27, 2019
There are 4.8mm Americans who consider themselves digital nomads. What are they and could there be opportunities here for community bankers?
Feb 21, 2019
A tough trend facing community banks in 2019 is the loan vs. deposit funding and NIM squeeze. Are you ready for this challenge?
Feb 20, 2019
According to one top advertising agency, we have gone from being exposed to 500 ads a day in the 1970s to more than 5,000 a day today. How can community banks break through that level of noise?
Feb 12, 2019
A recent study found that women aren't necessarily happy with their bank. Holding 51% of personal wealth in the US, this is an important customer group to keep happy.
Feb 7, 2019
We explain how one bank is using smartwatches to decrease wait times and increase customer satisfaction.
Feb 5, 2019
For community banks focused on a "personal touch," supporting a digital 24-7 world is challenging. We give you some tips to help.
Jan 29, 2019
Banks are starting to take financial literacy efforts to the next level. Is this something your bank should do?
Jan 24, 2019
Banks are paying attention to behavioral economic studies as they seek to understand how people make purchases in order to inspire desired actions among their customers. We have some highlights to help.
Jan 18, 2019
Community banks and their customers are feeling the effects of the government shutdown, now in its fourth week. We give you a rundown of the situation.
Jan 17, 2019
Collections are a hassle for all banks for a host of reasons. Some banks are finding new ways to address this age-old issue.
Jan 11, 2019
Competition is growing as agricultural-focused fintech firms (agtech) are entering the market. We offer some tips to help.
Jan 3, 2019
According to a study by PayNet and Raddon, small businesses are eager for loans. We provide you with some insight from this report to help you win over these eager customers.
Dec 18, 2018
Community banks may want to consider women empowerment programs for a more holistic talent development approach. JPMorgan Chase is leading the way.
Dec 11, 2018
The ability to utilize e-signatures and eliminate a large amount of paper can significantly reduce time and costs. Should your bank be making this shift?
Nov 27, 2018
A 2018 ABA report on community bank CEO priorities reports only 17% of community banks currently offer insurance products. Could this be an opportunity for your bank?
Nov 13, 2018
Half of community banks cite decision speed as a competitive advantage over big banks for small business loans. How to ensure this advantage will last.
Nov 8, 2018
Big banks are 2x as likely to accept online small business lending applications, yet only 23% accept them at all. We dig into this and other details from the latest FDIC survey.
Nov 7, 2018
How does the sudden rising cost of materials affect construction loans? We offer ways to mitigate this risk, as higher tariffs are absorbed into building projects.
Oct 30, 2018
Global digital payments volumes are expected to increase by nearly 11% through 2020. What community banks should know to guide their business customers on the technology and the providers.
Oct 29, 2018
Small business lending is a competitive market. We outline some of the details based on the latest Community Banking in the 21st Century report, including potential opportunities.
Oct 26, 2018
Over 70% of small business owners name one of the top big banks as their primary financial institution. How to grab more SMB lending from big banks.
Oct 25, 2018
As more people are using bank websites or mobile apps to open accounts or apply for other services, bankers need to continue to improve their web forms. We have some considerations to include.
Oct 22, 2018
A community bank's strength is in its customer relationships. So, it seems natural to bring up microsites, to continue enhancing and solidifying these relationships.
Oct 19, 2018
According to a recent survey, SMB usage of digital payments surged 38% from 2017. How can your bank leverage this opportunity?
Oct 18, 2018
Midwest agriculture has been hit recently. In other parts of the country, however, specialty crops such as apples and avocados are doing fine. We provide details for interested Ag lenders.
Oct 11, 2018
Export finance might seem risky to some bankers, yet it can benefit your bank and your international business customers. We walk you through it.
Oct 3, 2018
According to a recent survey, one in five small to medium business clients said they were ready to leave their banks in the next 20 months. We provide you with their reasoning and show ways to prevent it from happening to you.
Sep 20, 2018
Vendor-provided, bank-curated client offerings are still relatively new and they may sound costly. However, they could provide you with another way to engage your business customers.
Sep 14, 2018
An ABA survey finds 76% of community banks believe that social media is important to their bank. But, finding the right customers and converting them through social media is easier said than done.
Sep 10, 2018
In 2017, US companies spent $3.6B on self-storage facilities. We provide you with the latest updates on this lending sector.
Aug 31, 2018
Eighty percent of surveyed respondents said that the experience with any company is as important as its products or services. How to ensure the experience of your bank customers is exceptional.
Aug 21, 2018
Big banks are bowing to pressure from fintechs and offering fee-free mobile-only accounts. We give you the details on what is happening and how best to compete.
Aug 15, 2018
The new 2018 Farm Bill is expected to help farmers and ranchers, which will facilitate ag lending for community banks. We provide the highlights.
Aug 14, 2018
Corporate CFOs aren't that much different from small business banking customers. A new Corporate Treasury report provides some insight for community banks.
Aug 7, 2018
Lenders are seeing an increased demand for long-term loans. How can community banks satisfy this demand in a rising rate environment?
Aug 6, 2018
As competition heats up, keeping the attention of banking customers is critical. Bain & Co. provides a report on "customer episodes". We explain how these episodes may help.
Aug 3, 2018
While many small and mid-sized business customers focus within their geographic region, an increasing number are extending well beyond that and selling to customers overseas. We provide you with some ways to help them do this.
Aug 1, 2018
While digital banking is pushing checks aside, those who still write checks are a financially mighty group. What you need to know to hold onto these customers.
Jul 30, 2018
Banks are always seeking new customers, but how do you go about doing so outside your geographic community? Some community banks are using internet-only branches to do this.
Jul 27, 2018
A Deloitte study shows customers that can open new accounts easily and relatively quickly are more loyal. We provide the highlights for you.
Jul 26, 2018
Construction lending can be messy and complex. We provide some tips for streamlining.
Jul 19, 2018
Aite Group examined how much time commercial lenders devote to core responsibilities. We provide you with some of the results.
Jul 18, 2018
Some community banks have found a way to appeal to business customers beyond the usual offerings - using mentoring/advisory services. We provide a few examples.
Jul 5, 2018
An annual business banking study found 70% of small firms without a business checking account were denied a business loan in the past 2Ys. We provide insights from this study to help you connect to more business customers.
May 30, 2018
An OFX study found that 58% of small businesses had international customers. Canada provides small business customers with an opportunity to grow their businesses internationally. How your bank can help.
May 4, 2018
Some community banks are shifting from traditional ads to digital ads. Is it worth switching?
May 1, 2018
C&I can be profitable and help diversify your loan portfolios. We look at some ways to capture this business.
Apr 3, 2018
Seventy percent of Americans use social media today. How to optimize your bank's social media presence.
Mar 7, 2018
Community banks have business customers that lease equipment, but they may not come to their bank for funding. Is this a potential opportunity for your bank?
Dec 19, 2017
Community banks have a history of helping their communities during crises. Some inspiring examples of this support following the recent disasters.
Nov 24, 2017
Lessons learned for community bankers from the recent natural disasters.
Nov 10, 2017
Technology can blur the sense of connection between a bank and its customer. How community banks can stay connected in the tech age.
Nov 7, 2017
When natural disasters strike, community banks are deeply affected in the short term. Steps banks can take to assist rebuilding of neighborhoods and strengthening customer loyalty.
