By Justin Dullum
Editor’s Note: Growers Edge Financial, Johnston, Iowa, is carving a path as an innovator in melding financial technology into the ag sector. BankBeat, the sister publication of BankNews, spoke with Joe Young, its co-founder and president, about how these two worlds come together.
By Jessica Cheney
industry is in a time of tremendous digital transformation. The question today is
what are the big steps banks need to undertake in order to meet the unique challenges
of their customers and win business.
By Amandeep Khurana
It has been more than a year since the General Data Protection Regulation went into effect in Europe, and financial institutions are already preparing for the 2020 start of the California Consumer Protection Act (CCPA). However, this is far from the end of the process. New privacy regulations are coming both in the U.S. and around the world. Financial institutions that look at satisfying each new regulation as a separate project requiring incremental changes across their increasingly complex and global data infrastructures will struggle to meet compliance deadlines and ensure accuracy.
With an eye on improving profits and productivity
By Tim Grabacki
Despite a reductions of the branch footprint and digitalization of some products and services, costs associated with branch networks still hover around $1 million to $2 million to operate annually (depending on size and location).1 Cash processing, in particular, remains a costly part branch operations with high manual labor, especially related to processing. As McKinsey notes, in regions with rising labor costs and in the context of rapid digitalization of bank operations, the share of cash costs has become “increasingly relevant.”2
Compiled by Cara Roberts Murez