What’s on the Radar for 2019?

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What’s on the Radar for 2019?

Greetings! 
Two months into 2019 and many community banks have much to look forward to and anticipate. A recent survey shows that Americans’ optimism about personal finances is at 16-year high! This translates into more spending, more lending and more growth. 
Regulatory relief is in our sights!  Steps are underway to reduce regulations that impede banks in their pursuit to prosper, serve their communities and their customers, and create opportunities for people to get credit. Nobody wants to undermine safety and soundness, but at the same time, banks need to be able to smartly do what they do, which is lend money.
As we focus on the year ahead, there are many trends & even some lessons ahead for community banks…
Banks will get better (and faster) at online lending
Expect a showdown over faster payments standards
Consensus on open banking will begin to emerge
Customers will take more control of their data
Artificial intelligence will streamline work processes
Additional guidance on HMDA, and a possible realignment of theCommunity Reinvestment Act (CRA)
If you have questions, or need additional guidance and a sounding board to ensure your bank is successfully positioned to keep up with constant change coming from all directions, contact the 
21CFS team at 866-398-2178.  We look forward to hearing from you.

Sincerely,
Michael Perry, Chairman & CEO
21CFS Innovative Banking
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