Main Street Matters Blog

ICBA and community banks have been on a rollercoaster since the March 10 failure of Silicon Valley Bank, but we have once again proven to be strong and resilient. And we have done it by working together on behalf of our industry and the local communities we serve.

According to the latest survey from the Conference of State Banking Supervisors, 99.8 percent of community bankers feel the adoption of new or emerging technologies to meet customer demand is at least somewhat important, with 64.7 percent labeling it “extremely” or “very” important.

As news outlets continue to report on the demise of Silicon Valley Bank (SVB) and the broader implications for the industry, it bears repeating that not all banks are equal. Community banks are relationship lenders first and foremost and this distinction makes all the difference in times of uncertainty.

Video assets were one of the most significant production investments ICBA made for the ICBA National Campaign — an effort to elevate community banking in the hearts and minds of America’s consumers.

After several years of community banker engagement with the Consumer Financial Protection Bureau, the bureau has released for public comment an ICBA proposal to improve mortgage disclosures required under TILA-RESPA Integrated Disclosure rules.

The countdown is on. FedNow goes live in just a few months, and its looming launch creates a sense of urgency around the execution of instant payments.

When it comes to innovation, big picture ideas formulate and crystalize into concrete plans. Having the vision and enthusiasm for fresh solutions is just the start and drives the community bank journey to unearth specific, relevant and actionable opportunities.

Instant payments have arrived. In the five years since the launch of the RTP Network, volumes have steadily increased by more than 10 percent per quarter, and in Q3 2022, the network moved 45 million transactions valued at $19.7 billion.

Digital customer engagement has risen as a top priority for financial institutions in 2023, according to new research from Anna Kooi, financial services industry leader at Wipfli LLP, a top advisory firm in this space.

ICBA has launched an enhanced version of our Solutions Directory, which in addition to providing useful fintech-related company information, serves as a one-stop shop for community bank enabling technology. The new and improved directory is based on extensive community bank feedback, to create a better user experience.