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Busting Three Myths about Community Banks and Open Banking

NG Data

Open banking can be misunderstood, leading to dangerous misconceptions. Community banks should not feel intimidated by it and can leverage APIs to make incremental tech investments that align with their growth strategy. Source The post Busting Three Myths about Community Banks and Open Banking appeared first on NGDATA.

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Practical Tips for Community Bank Innovation

NG Data

Community banks are embracing innovation and technology to stay competitive. ChoiceOne Bank built its loan origination platform and offers it to other financial institutions. BAC Community Bank has hired professionals with data analysis backgrounds to help with software and other projects.

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Best Performing Banks in 2024

NG Data

The annual list of independent bankers' best-performing community banks showcases the success achieved by these banks through their hard work, flexibility, and expertise. Source The post Best Performing Banks in 2024 appeared first on NGDATA.

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Navigating compliance in community banking: AI brings opportunity

NG Data

Community banks face compliance challenges due to regulations and limited resources. Tools like HawkAI, TridentAI, Greenlite, Shiboleth, and Parcha empower community banks to navigate compliance requirements more efficiently. Source The post Navigating compliance in community banking: AI brings opportunity appeared first on NGDATA.

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Visual Customer Service Can Be Transformative For Banks

Customer Think

Banking and financial services is a complex business. Service providers need to offer great products with competitive rates and all within the rules enforced by industry regulators. Compliance is not an option.

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Bank Survey: Small-business owners optimistic about their future

NG Data

The survey by TD Bank shows that 90% of small-business owners are optimistic about the next 12 months. Source The post Bank Survey: Small-business owners optimistic about their future appeared first on NGDATA. However, concerns about inflation and increasing costs are prevalent.

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Are Community Banks Getting Squeezed Out Of Existence?

NG Data

The "Main Street" banking model is being squeezed due to various factors, including changes in the definition of community, generational changes, product pricing, the economics of talent, and government regulations. However, small businesses may help save community banking in the long run. appeared first on NGDATA.

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