Remove guides posts staying-competitive-open-banking
article thumbnail

Customer retention in banking: A proactive guide

Abrigo

Strengthening customer relationships with tangible value and personal touch Customer retention in banking can be challenging for community financial institutions. Follow this guide for strategies to stay competitive. In the competitive world of banking, attracting new customers is just one piece of the puzzle.

article thumbnail

Examining industries: The importance of industry analysis for financial institutions

Abrigo

WATCH WEBINARS Takeaway 1 All businesses perform industry analysis, but financial institutions in particular must know their customers' competitive landscape. Takeaway 3 Industry analysis can strengthen your bank or credit union's credit risk rating system and help you offer products to meet customers' needs.

CECL 78
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What SBA Loan Applicants Really Want: A Guide for LendersĀ 

Biz2X

Reading Time: 3 minutes For banks and financial institutions contemplating the launch of an SBA loan program , understanding the nuanced expectations of potential borrowers is essential. Transparent communication from banks not only builds trust but also empowers businesses to make informed decisions.

article thumbnail

FedNow fraud prevention for credit unions: A guide for AML, fraud teams

Abrigo

Use this guide to understand available tools and the steps AML and fraud teams should take. You might also like this FedNow implementation guide with details on appropriate AML/CFT and fraud considerations. These include the ability to accept a payment without posting.

article thumbnail

What Can You Do When a Bank Turns You Down for Equipment Financing?

Team Financial Group

Facing rejection from a bank for equipment financing can be disheartening and frustrating, especially when you have a solid business plan and a clear vision for your company’s growth. However, a bank’s decision to decline your loan application should not be the end of your pursuit.

article thumbnail

How Community Banks Fend Off SBA Loan Competition

Biz2X

Historically, community banks were the primary choice for such loans. However, with the emergence of tech-savvy competitors like large financial institutions and online lenders, community banks now face unprecedented competition in their traditional domain of small business lending.

article thumbnail

How to Start a Businessā€” An Entrepreneurā€™s Startup Guide

Due

Taking the chance to open a business can be both exciting and hard to understand. Many people who work with small businesses suggest getting demographic data and doing a competitive analysis to learn more about the opportunities and limits in your market. About 90% of new businesses fail, and many reasons exist. Business loans.