ServisFirst Bank’s Post

It’s like Sephora or Starbucks now offered a checking account. After years of closing or mostly neglecting physical bank branches across the U.S., the nation’s largest banks are spending hundreds of millions of dollars on refurbishing old locations or building new ones, and in the process changing the look, feel and purpose of the local bank branch. Many of these branches are larger, airier, and meant to feel more comfortable for those walking in with difficult financial questions. Others are being designed as “third spaces” to allow local nonprofits or community representatives to hold workshops or seminars for customers or neighbors. They are a contrast to the marble-clad temples to finance built 50 or 75 years ago and the stale cookie-cutter branches that more recently cluttered suburban malls. Read more: https://lnkd.in/e3_BbpfD

Here's a recent post from our CEO about the role of credit union Branch Managers ... give us your feedback and perspective.

Stratyfy was created as a direct result to situations like these. As Laura says, lenders don’t set out to build bias lending models, however without the right oversight, things can get out of hand and folks can be seriously impacted. TLDR: Navy Federal Credit Union's automated underwriting systems deny more black applicants as trend shows the difference between the White and Black approval rates was only 11.5 percentage points in 2018 – far smaller than the 28.6-percentage-point gap in 2022. #AIforGood #Lending #Bias #Innovate https://lnkd.in/e3njqj8m

Interesting insights from Curinos about Chase's branch expansion strategy. What I found interesting was that just opening a new branch in a market is not enough to ensure success. You also need the appropriate level of marketing investment to support the new location and drive traffic to the new site. https://lnkd.in/g-NmK5ai

It’s like Sephora or Starbucks now offered a checking account. After years of closing or mostly neglecting physical bank branches across the U.S., the nation’s largest banks are spending hundreds of millions of dollars on refurbishing old locations or building new ones, and in the process changing the look, feel and purpose of the local bank branch. Many of these branches are larger, airier, and meant to feel more comfortable for those walking in with difficult financial questions. Others are being designed as “third spaces” to allow local nonprofits or community representatives to hold workshops or seminars for customers or neighbors. They are a contrast to the marble-clad temples to finance built 50 or 75 years ago and the stale cookie-cutter branches that more recently cluttered suburban malls. Read more: https://lnkd.in/e3_BbpfD

MULIT BANK ATMs POP UP IN SUPERMARKETS TO HELP SMALL FIRMS (www.thetimes.co.uk/) Small firms handling cash will be able to deposit their takings in more than 100 machines by the end of the year that will be linked to their accounts at the big high street banks. The first three multi-bank ATMs are working at sites in Atherstone, Warwickshire, Swanage in Dorset, and Heathfield, East Sussex. Seventeen should be open by the end of the month, including in Chipping Norton, Oxfordshire, Bradford, and Billericay, Essex, with several hundred planned in the next few years. They are part of the response by the banks and industry regulators to the gap in cash handling and broader banking services to small businesses left by the rapid closure of high street branches. Some 6,005 branches have closed since 2015, according to the consumer group Which? — more than 60% of the total that were then open. #kentinvictachamber #kentbusiness #smes #ashfordfor #smallbusinessowners #cashmanagement https://lnkd.in/ennnUCPQ

Disbursing funds in an efficient and accessible way is critical to a good customer experience. But new economic realities and mobile adoption have challenged organizations to evolve how they pay to meet consumer demands. Sarah Kositzke, Director of Research, and Scott Lapp, Director of Product Marketing and Incentives at Blackhawk Network along with Jordan Hirschfield, Director of Prepaid at Javelin Strategy & Research, discuss the latest research on consumer payments preferences. The conversation focused on Blackhawk’s research into business-to-consumer disbursements. Read more: https://lnkd.in/eBNsyQGF #payments #disbursements #checks #giftcards #prepaid

This will impact "tax season" so make sure your inventory is VERY clean over the next 90 days. "While overall credit health has remained relatively strong, many lower VantageScore credit tier consumers are increasingly financially stretched at year-end, with millions relying on personal loans or asking lenders for higher credit card limits to cover expenses and holiday spending." Lotpop's Lotwalk.com tool can help you stay ahead of your inventory and leads together #weknowretail #first30 #lotwalk

This week, we adjusted our ask price on our TD Bank Ground Lease located in Bridgeport, CT. Here’s a couple of reasons why I like this deal: - TD Bank has been at this site over 50+ years. That speaks for itself but also the familiarity of customers to this location in their neighborhood. They have a potential commitment to the site through their lease term through 2041. - The site sits on a heavily trafficked signalized intersection. And according to Placer.ai data, this location receives more foot traffic than any other TD Bank in their system that they track with over 105,000 visits annually. - There’s 38,000+ people who live within 1 mile of this location – so you’ve got a captive consumer audience at your fingertips. - At $2.76M, it’s a perfect parking spot for a 1031 trade, or a local investor who wants to own a hard corner that likely is going to appreciate over time. Vikaas Patni is running point. Grab the OM and check it out! Link -

Consumer Duty a transformative event in the regulation of retail financial services has changed the cultural and regulatory landscape for lenders. I share some thoughts on how they can harness consumer duty regulation to deliver better consumer experiences. https://lnkd.in/ejRMPaAn