The average bank in the United States does business with nearly 100 vendors ranging from core processors to companies who mow the lawn or shovel the snow. Building relationships with vendors is key to running a successful institution. But, managing the vendor due diligence process can be a hassle and time consuming but it doesn’t […]
When I started in banking in 1984 there were 625 banks chartered in the state of Kansas and today there are less than 200. The same thing is happening in every state, but of course that is over a 40 year time period. What will happen in the next decade as very few new charters […]
Managing the vendors that a bank does business with can sometimes seem like it is a hassle and many times that task is outsourced to a third party. Why waste the money? It doesn’t have to be that way. Regulators have moved the needle to ensure banks understand the risks of each vendor they do […]
The risk assessment process for community banks can time consuming and daunting but it doesn’t have to be that way. When Strunk demoed their Risk Assessment tool to regulators in Washington DC they said “community financial institutions struggle doing risk assessments and your program will help them with the necessary process”. Whether your senior lender […]
Strunk has been working with community banks for the past 40 years with a variety of fee income and risk management tools. All of the services we provide are time tested and market proven to help with your bottom line. Now is the time to consider making more money! When Strunk introduced their ODP program […]
Recently the CFPB backed off guidance for overdraft payment programs and now is the time to consider revitalizing your bank’s overdraft payment services. While the regulators scared off some banks from offering a formal overdraft program, many banks and consumers have benefited from them for over 30 years. Consumers create overdrafts…banks do not. Banks are […]
Strunk’s Secure checking strategy has been around since 2011 and it will enhance customer loyalty while increasing fee income at the same time. Notably, the banking industry has lost nearly $20B in service charge income over the past 15 years and it has affected banks across the country regardless of size. Free Checking was offered […]
Strunk recently attended two national banker’s conventions and both were well attended by community bankers from across the country. The exhibit halls at both had a lot of vendors no others offer three different types of income producing programs like Strunk does. 1) Strunk’s Overdraft Privilege program is being used by over 1,800 banks across […]
Many community banks net interest income is well below the 50th percentile compared to peers when looking at year-end UBPR numbers. It doesn’t have to be that way. The key is to price loans competitively but also consider the risk of the borrower, the term of the loan and the SIZE of the loan. Yes, […]
Competition for “A” rated commercial loan customers is tough in many markets and a loan pricing solution might be the answer to win more deals. How many times has your financial institution lost a loan customer or have been told that “I can get a better deal down the street or from Farm Credit”. It […]
An independent certified public accountant has examined Strunk’s operations and found them to be in compliance with the AICPA’s Trust Service Principles. It was determined that Strunk meets the Security, Availability, Processing Integrity, Confidentiality, and Privacy criteria for SOC 2 established by the AICPA.
