Words From The Efficiency Experts

News, Banking

Protecting Yourself Against Online Shopping Scams

Fraud is not something new to us. The growth of technology has caused an influx of varying scams. Most people are aware of identity theft and the precautions to take. First-party fraud is also on the rise, with people intentionally fabricating all or part of their identity to avoid paying for products or services or to receive reduced rates.¹ With online shopping at large and the holiday season upon us, we want to talk about online shopping scams we’ve been seeing lately that we might be more likely to fall for.

Community, Banking

Celebrating Past Traditions While Moving Toward the Future

Amidst the digital age, we continue to search for traditional banking’s place in the financial industry. Community banks, naturally, have less resources and smaller staff than larger competitors, but their small size offers agility and flexibility. To compete in today’s technology-dominated market, community banks must stay strong in these offerings in order to keep their edge.

Banking

What Customers Need from Their Banks

The Banking Administration Institute (BAI) conducted interviews with customers of lending institutions, hoping to gain insights on digital lending. These clients were from small and middle-market businesses and, as the BAI’s efforts found, they were more than willing to talk—in fact, they gave straight and direct comments. Turns out they were eager to talk about their banking experiences!

Banking

Tips to Improve Your Financial Well-Being

Financial well-being defines all the intricacies of your money management. It goes beyond your income and credit score. It’s about your relationship with money—how you behave with money and how you spend money. Regardless of how large your income, if you are spending everything you make you are not getting wealthier, just living a higher lifestyle.

Community, Banking

Three Ways To Extend Efficiencies Throughout Your Organization

Community banks today are finding themselves under mounting pressure. The battle for deposits is more critical than ever before, new entrants to the space are creating unprecedented competition, customer expectations continue to climb and technology is evolving at a rapid rate. Not to mention, these institutions are expected to effectively manage and maintain regulatory requirements, security protocols and growing their portfolios – all within set budgets.

Community, Banking

Minority Depository Institutions

Policies are in the works to improve the struggles of minority deposit institutions (MDIs). Jill Sung, president and CEO of Abacus Federal Savings Bank in New York City and chair of ICBA’s Minority Bank Advisory Council and Consumer Financial Services Committee, has recently testified before congress on behalf of the ICBA regarding the impact MDI’s make in underserved communities.

Community, News, Banking

Pop-up Makerspace Available in Springdale, Arkansas

Springdale, Arkansas (home to Teslar’s headquarters) has received an exciting new, albeit temporary, addition to the community—an Innovation Hub. The hub is a pop-up makerspace that offers opportunities for adults and children of the community to attend free classes and workshops that offer tools and training to spark innovation and creativity and improve future careers.

Community, Banking

The Battle: Digital vs Traditional Banking

Let’s face it, we are fully immersed in a digital world and banks are finding a decline in traditional banking. Statistics show a 41% decline in teller transactions since 1992, further revealing the need to provide an engaging mobile banking experience.

Community, Banking

Financial Literacy For Kids

Our home state of Arkansas recently passed the Personal Finance and Job Readiness Act, a bill that will make personal finance a required high school course beginning in 2021. Many other states have been introducing similar legislation, creating a widespread understanding of the importance of financial literacy for young people.

News, Banking

Upcoming ICBA Webinar: How Your Bank Can Improve Efficiencies

Join Joe Ehrhardt, Founder & CEO of Teslar Software, to see how you can become a more efficient institution without losing a high touch approach.