Community banks provide a wide range of payment services and products in support of consumers and businesses on Main Street. As locally owned and operated institutions, community banks empower their employees to provide con¬sumers reliable, superior service, and their use of local funding helps keep their communities vibrant and growing.
Since 2005, the Independent Community Bankers of America (ICBA) has conducted a Community Bank Payments Survey, designed to track community bank trends and strategies in payments. This bi-annual effort provides important guidance used to:
Findings from the 2011 ICBA Community Bank Payments Survey reveal that community banks continued to be plagued by rising fraud losses and the high cost of compliance, resulting in a decline in payments revenue. In fact, 40 percent of respondents indicated that their consumer payments revenue has decreased in 2011, with 10 percent reporting a significant decrease.
Community bank also projected growth rates for the following emerging payments products:
Staff contact: Cary Whaley
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