What started as a Pennsylvania bank’s blog transformed with the twist of a dial. We like blogs. You wouldn’t be reading this if we didn’t. But something caught our attention that’s worth sharing. It’s the story of how the idea for a blog became a radio show. And while the jury is still out on how much bounce Fidelity Deposit and Discount Bank in Dunmore, Pa., will get from … [Read more...]
Will smartphones replace smart bankers?
A check arrives in the mail. Your customer, still in his/her pajamas and down with the flu, needs to deposit those funds. Thanks to smartphone technology and Check 21 legislation, the ailing client can get that done with ease and has been legally able to do so for more than a decade. But this relatively recent technological advance begs a critical question for the future of … [Read more...]
Do’s and don’ts of social media
Writing online on the American Bankers Association Bank Marketing page on LinkedIn, Kailyn Gallagher makes some critical points to ponder for community banks. In summary: “It’s not personal. It’s business.” Sometimes, businesses make a critical mistake when it comes to their entity’s social media presence, treating it as they would their personal Facebook or Twitter page. … [Read more...]
Disruptors: The bogeyman for traditional banks?
It’s no secret that the Fintech world is exploding. And while some innovations, like mobile banking apps, are marvelous opportunities for community banks to improve customer service and solidify their customer base, there are some scary trends at play that could radically transform banking as we know it and spell bad news for smaller banks. They’re called disruptors. These … [Read more...]
Could FASB’s Proposal Put A Few Nails In Bankers’ Coffins?
I’ve written several articles about the future of banking, but it appears the Financial Accounting Standards Board could be putting nails in a few coffins. FASB’s complex proposal (Current Expected Credit Loss, or CECL) would force community banks to record a provision for credit losses the moment they make a loan. Let’s look back a few years at around 2007 and 2008, around … [Read more...]