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What every financial institution should know about the new Apple Card

Posted by Keri Crane

Wed, Oct 30, 2019 @ 10:07 AM

This card has the capability to redefine consumer expectations. Evaluation isn’t about going down a list, comparing traditional credit card features. The Apple Card’s worth lies within the digital experience, flexibility with payments, and immediate gratification. Nicely stated by Lisa Eadicicco of Business Insider, “The new credit card lives entirely in your iPhone’s Wallet app, allowing you to make purchases, view your transactions, and pay your balance directly from your mobile device.”

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Topics: Payments, Digital, Future Ready

Still serving… outside the branch

Posted by Danny Payne

Wed, Oct 23, 2019 @ 11:37 AM

I live in the middle of small-town USA. We had a joke in Elizabethtown, Kentucky. When they broke ground on a new building, we’d say it’s either McDonalds or another bank.

Well, that used to be the joke. These days, you don’t see many new banks being built. As a matter of fact, there have been more banks acquired in the past five years than built. As a matter of fact, our iPay Solutions™ group is moving into what once was the main corporate branch of First Federal Savings Bank in Kentucky.

My question is, “Are the branches closing and consolidation happening because we don’t need that service anymore?” I don’t think so. Because on any Friday afternoon our local credit union looks like it is giving away money. So there must still be an opportunity to service a need for those community banks and credit unions, even in our little town.

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Topics: Digital, Community Banks, Future Ready

Commercial Lending in the Palm of Your Hand

Posted by Vicki Lewis

Fri, Oct 18, 2019 @ 08:30 AM

Today’s lenders are challenged by balancing the pursuit of new business with all the administrative tasks competing for their attention back at the office. How do you ensure they are able to spend the amount of quality time with their business customers needed to strengthen those relationships and discover new financing opportunities?

The answer is: technology.

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Topics: Commercial Lending, Small Business, openness

Alexa, Is 2020 the Year of Voice Commerce?

Posted by Penny Webb

Wed, Oct 16, 2019 @ 12:34 PM

Voice commerce, also known as vCommerce, is a buying principle that allows customers to make purchases using software applications on enabled devices with voice commands. The consumer typically interacts with a virtual personal assistant like Apple’s Siri or Amazon’s Alexa and the voice replaces the need for point-and-click or typing information in a search field. The customer utilizing the voice command technology can search for information and make purchases simply by speaking the request near an enabled device.

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Topics: Digital and Community Banking, Digital, Future Ready

Tailwinds Shifting to Headwinds for Trucking Industry

Posted by Kenneth Bolte

Wed, Oct 09, 2019 @ 10:29 AM

Since the end of the great recession of 2008, the trucking Industry has been on a roll, and 2018 was, by any measure, a banner year. Revenues for the 50 largest companies rose by 12.2%. Tonnage across all segments was up 6.6%. Though 2019 is predicted to be slower, overall growth is expected to continue through 2023. But the winds of change are beginning to blow.

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Topics: Commercial Lending, Small Business

Embracing Receivables for Deeper Client Relationships

Posted by Catherine Killam

Fri, Oct 04, 2019 @ 10:30 AM

Every financial institution (FI) has good customers and prospects who don’t quite qualify for a commercial line of credit. Reasons abound: they haven’t been in business long enough, their concentration ratio has changed since their last review, they’ve been downgraded, etc. They aren’t necessarily a failing business − in fact they may even be growing − but for whatever reason, they don’t meet your financial institution’s requirements and traditional financing is not an option.

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Topics: AR Financing, Commercial Lending, Small Business

The Right Time for Real Time

Posted by Tammy Wilson

Wed, Oct 02, 2019 @ 10:34 AM

Do you ever feel like you are caught up in a whirlwind? That happens every so often, when there is so much change that it is challenging to absorb it all. It is hard to know what is meaningful and attention-worthy, and how to distill the important nuggets into strategic decisions that best position you for the near term and beyond.

The payments world is experiencing one of those whirlwind periods: fintech innovation, mega-mergers, ramped up competition from non-financial brands, and new payment networks. One thing seems certain: the winds of change are not slowing, and thinking it is safe to wait for the storm to pass might be a dangerous plan.

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Topics: Payments, Future Ready, Modern Membership

Four Strategies for Winning the Hearts and Minds of Gen Z

Posted by Deborah Matthews Phillips

Wed, Sep 25, 2019 @ 11:03 AM

Most financial professionals would agree that in recent years, we’ve been inundated with articles and reports containing tips and tricks for capturing the loyalty of the Millennial generation. Yet, in what felt like a blink of an eye, the oldest members of that cohort are now approaching middle-age; and today, there’s a powerful generation emerging that deserves focus and attention – Gen Z.

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Topics: Financial Institution, Community Banks, Future Ready

Participation Lending: The Hidden Benefits of Changing With the Times

Posted by Kristin Zell

Fri, Sep 20, 2019 @ 09:00 AM

“Participation lending” used to be a phrase uttered only by big-city commercial lenders at the mega banks. They had whole departments, strategies, and products that revolved around it. Over the years, the participation concept has quietly found a place in the community bank and credit union space too. Not because it was a great new fad everyone needed to try. Not because the latest and greatest fintech was doing it too. Rather, it was just good, old common sense that spawned the change.

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Topics: Commercial Lending, Partnership, LendingNetwork

Fintechs and Risk Management

Posted by Craig Laures

Wed, Sep 18, 2019 @ 10:00 AM

Fintech providers play an important role in the financial services industry. Banks and credit unions rely heavily on fintechs to sustain compliant efficient operations, process payments and other data, protect information and deliver service to customers in a variety of ways. Partnerships with fintechs offer expertise you may not otherwise have the resources to acquire. Thus, the reward for engaging with trusted providers. On the other side of the reward equation is risk inherent with third-party relationships.

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Topics: Fintech, Partnership, Community Banks, Risk/Fraud

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