Colleen Morrison
Colleen Morrison's Articles
5 Ways Community Banks Can Take Advantage of FedNow
FedNow has solidified its place in the banking industry, and now’s the time for community banks to get in on the action. Learn how your bank can ease the instant payments system into its operations.
Check Fraud: 3 Ways to Stop It in Its Tracks
Among ransomware and cyberattacks, it’s important not to forget about old-fashioned fraud—namely, check fraud. As incidents of this type of fraud increase, experts explain how to prevent and mitigate it.
Community banks’ guide to FedNow resources
The time has come for the long-awaited FedNow launch. As community banks navigate this process, there are plenty of resources available to answer questions and provide guidance.
How community banks can leverage payment trends
Data analysis can illuminate patterns and trends in your customers’ transactions. Community bankers and industry experts share how to best put this data to use.
5 payments trends you should know about
The payments landscape is evolving, and customers’ needs are changing. Here’s how community banks can enhance their payments offerings.
The resurgence of de novos
As the number of financial institutions have dropped, the number of de novos has started to rise. The founders of three startup banks discuss the importance of community banks to the country as mission-driven organizations.
Capitalize on social payments
Social payments methods like Venmo and Cash App continue to grow in popularity, and the data is there to prove it, creating an opportunity to give customers what they want: 24/7 access to cashless, P2P and mobile transactions. So how do social payments fit in community banks’ long-term future?
How to respond to buy now, pay later
Consumers are increasingly interested in buy now, pay later products, which are cutting into credit card usage. Here’s what community banks need to know about these products and how they can take advantage of this model.
Our first Innovation Conversation
Citizens Bank of Edmond evolves its innovation strategy by working with—and for—its community partners. We spoke to two of its business customers for the first article in a new series.
New ICBA chairman Robert Fisher is in the driver’s seat
Faced with the unexpected and unexplainable, it’s hard to stay on course. But Robert Fisher is an expert at just that. Between his time as an Air Force navigator and his love for fast cars, ICBA’s next chairman is ready to help community banks and the customers they serve power through the coming year.
Why it pays to offer cross-border payments
Offering cross-border payments used to have a high barrier of entry, but thanks to new technology and increasing revenue opportunities, they may be an untapped growth opportunity for enterprising community banks.
Will the dollar go digital? What you need to know
The private sector has had its hands in the world of cryptocurrencies for years, but the country’s central banks have held off—until now. While far from a certainty, here’s what you need to know about the development of a central bank digital dollar.
3 banks investing in communities under the CRA
Many community banks invest in low- and moderate-income neighborhoods to make lasting impacts while also getting Community Reinvestment Act, or CRA, credit. This work to aid and rebuild communities is the direct result of the close ties community banks develop with the people they serve. Here’s how three community banks are making powerful investments under the CRA.
Compensation strategies to retain your bank’s top talent
Gone are the days of defining compensation as salary and bonus. Today’s star employees—whether existing or prospective—are demanding ever-more innovative employment packages.
Why succession planning is key to bank independence
Independence is at the heart of many community banks’ ethos, but how do community bankers embed this core value into their strategic planning? Here are three critical strategies that use succession planning and board management to maintain independence.
How your bank can fight first-party fraud
First-party fraud puts banks in the tough position of deciding which account applicants are synthetic and which are real. But experts agree that there are ways to can use technology and collaboration to mitigate this growing type of fraud.
FedNow is coming. Here’s what you need to know
Years of advocacy culminated in the Fed’s announcement of a real-time payments and settlement service. Here’s what to know about FedNow and what remains to be answered.
Protect your bank from remote deposit capture risks
Despite the newest bells and whistles of today’s banking industry, checks remain a common part of the customer experience, and remote deposit capture (RDC) has followed. What risk management strategies should banks consider when offering this convenient service?
How to create an effective digital payments strategy
Faster payments. p2p. It would be easy to feel overwhelmed at the speed of change. The key, say experts, is to ensure your payments strategy aligns with your corporate strategy.
How to build a successful payments strategy
Customer expectations and fierce competition—it’s never been more important to think strategically about your payments offering.
What Should Community Banks Know About Cross-Border Payments?
As cross-border payments reforms take shape, community banks must navigate promising opportunities and significant adjustments in this evolving space.
Instant Payments Insights Every Community Bank Needs
Vendors share their specialized insight into the instant payments market to help community banks understand how they can grow in this technology-forward area.
Maximizing Profitability with Today's Point-of-Sale Tech
The goal of community banks in a digital age: Be top of wallet. Learn how to take advantage of growing POS innovations like digital wallets.
3 Major Community Bank Compliance Challenges (and Solutions)
The regulatory compliance burden is a big and growing consideration for community banks. Thankfully, there are plenty of techniques and resources for keeping on top of this ever-changing task.
Extend Customer Relationships With Better Business Payments
Consistently fulfilling commercial customers’ payments needs can make community banks indispensable to small businesses.
Parsing the Proliferation of Payments
Remaining competitive in the banking industry doesn’t mean you have to have your hand in every bucket and offer every available payment solution. With a wide variety of choices, experts discuss how community banks can decide which to prioritize.
How to Boost Your Bank's Digital Payment Security
Now more than ever, cybercrime is a top priority for banking leaders. We spoke to experts on how community banks can prevent bad actors from infiltrating their systems.
Farmers and Merchants' Digital Transformation in Farm Country
Working in an agricultural community, Farmers and Merchants Bank is supporting its farm customers by innovating its products and services.
What Does Pay by Bank Mean for Community Banks?
Now that FedNow has launched, it’s time to put some focus on a new payments form: Pay by Bank.
Why FedNow isn't a Payments App
FedNow launches this month. That’s why it’s critical that community bankers understand the payments rail and how it differs from widely used payment apps.
ICBA's Terry Jorde has eyes to the horizon
Terry Jorde didn’t originally plan on entering the community banking industry. But with a fortuitous move to North Dakota, she worked up from teller and bookkeeper to an industry leader. As Jorde, ICBA chief of staff, prepares to retire, she and her colleagues reflect on her journey.
Super apps: The rise of an all-in-one platform
Convenience is a growing desire from consumers everywhere. Across the world, people are using super apps to send messages, purchase tickets and, of course, bank online. What are they, and how can community banks stay on top of this trend?
How gamification can be a boon for community banks
Community banks are getting into the gamification business—and it’s been better for business. Introducing gaming elements into apps and company training tools can result in cost savings, increased customer loyalty, financial literacy and employee retention. Here’s how some community banks are winning with their gamified approach.
Unexpected allies
Meeting serendipitously at a ThinkTECH Accelerator showcase, Fintel Connect and Finzly prove that the best relationships allow both partners to complement each other’s strengths.
The race for faster payments is here
It only took a few years for the U.S. payments space to see the development of game-changing faster payments technologies, and consumers are taking notice. Experts say the time is now for community banks to prepare for a future where these speedier transactions are the new normal.
What is open banking and what does it mean for you?
Open banking is a buzzword in the banking industry, but what exactly does it mean, and how will it affect you? From application programming interfaces to fintech partnerships, it’s been applied to a wide variety of new banking technologies and paradigm shifts. Here’s what community banks need to know about open banking.
How to navigate payments trends
The payments space can be dizzying for even the most enterprising community bank. How do you navigate the constant churn of innovations or disruptors? Experts point to a strategy built on customer input and relationship-building.
How cryptocurrency may be going mainstream
Beyond all the hype, cryptocurrency has unequivocally gained a loyal following, and mainstream financial players are taking notice. Is it time community banks got involved in crypto? One community bank has found its entry to the market.
What you need to know about digital issuance
Instant issue cards are becoming more common at financial institutions, as they can maximize card usage and even attract customers. But another option, digital issuance, combines that speed with increasingly popular digital services.
Are real-time international payments the future?
Two rising technologies, faster payments and cross-border payments, are coalescing as more countries lay foundations to make such transactions possible. Experts say the U.S. is on a path to becoming one of them.
Evaluating Credit Card Rewards in Modern Banking
Younger generations prefer debit to credit, but consumers’ appetite for card rewards is still strong. Learn how your community bank can integrate rewards as part of its payments strategy.