January 2024

The Independent Community Bankers of Colorado (ICBC) has endorsed BHG Financial (BHG), the creator of the largest community bank loan and product network in the country. BHG was awarded the endorsement following a due diligence process and approval by the ICBC’s Board of Directors.

Employee burnout has become a growing concern in recent years, with more workers reporting feelings of exhaustion, cynicism and reduced professional efficacy. Burnout not only negatively impacts employee well-being but also affects organizational performance and productivity.

Software has been pivotal in enhancing productivity in the ever-evolving banking landscape. For instance, advanced CRM systems have streamlined customer interactions, while data analytics tools have improved decision-making processes. These innovations have not only bolstered efficiency but also significantly boosted the financial performance of banks. However, the COVID-19 pandemic underscored a crucial lesson: Productivity diminishes

Despite declining volumes, checks remain an important part of the overall payments ecosystem. With current market conditions, combined with aging technology that drives up processing costs, determining a strategy that keeps costs down and efficiencies up is critical for survival. In fact, a Finextra survey published in July 2023 ranked reducing processing costs through payments modernization (79%) as a top priority.

The Federal Reserve’s FedNow® Service, an instant payments rail that launched this past July, was a long time in the making. As you dive into the faster payments space, you probably have a few questions about how the FedNow Service was created. What were the criteria, who was in the room and — most importantly — are you behind if your team hasn’t gotten started yet?

ICBC Preferred Providers are selected by bankers just like you, so give them special consideration when considering their proposals for your bank! To learn more about ICBC’s Preferred Providers contact the ICBC at 303.832.2000. Please note: ICBC endorses the listed companies but not all products offered by the company. Contact: Scott Wintenburg | swintenburg@bbwest.com |

ATMs have become an attack vector for fraudsters who deploy a number of tactics to access the machines. Criminals compromise ATMs by installing skimming devices, executing hook and chain attacks and orchestrating “top hat” attacks.

As we begin 2024, many institutions are reflecting on their goals and plans for the year ahead. And some may even begin evaluating whether to change core providers as current contracts near expiration. But what should bankers consider when deciding upon the best core bank system?

Anecdotally and empirically, community bank lending has been relatively productive during this multi-year rate cycle. Many conversations I’ve had with bankers in all regions of the country sound alike: Loan demand has been healthy, and even better, credit quality has held up very well even though rates hit a 15-year high toward the end of the year. It sure seems like the industry learned its lessons from the last big downturn just prior to the Great Recession.

As we kick off the new year, our budgets have been set and our plans developed. But you know what they say about the best-laid plans: They change. Fortunately, community banks thrive on their ability to respond to market drivers, and in 2024, those demands point to instant payments.

I recently came across a quote from the Pulitzer Prize-winning poet Theodore Roethke: “Over every mountain, there is a path, although it may not be seen from the valley.” As an avid hiker myself, it resonated because as you look up toward the climb ahead, you may not see the route, but you know it’s there — not unlike the situation we face in community banking today.