Community Banking News Update - May 2025
Get the latest community banking news and how it could impact your financial institution. Welcome to this month’s Community Banking News update, your...
Are you paying your competition when it comes to FX wires? In most cases, the answer is, yes. Community banks and Credit Unions are often chosen by customers who prefer the personalized attention they receive in a boutique environment; they are trusted partners to local businesses or want to support community-focused efforts. However, these smaller institutions sometimes lack the technology and resources to offer the same range of services as larger institutions. As a result, they may have to provide these services at a loss to meet their client's expectations and keep them satisfied. Consequently, these financial institutions end up paying excessive fees to big banks to facilitate cross-boarder wire transfers, effectively supporting their competition instead of sustaining their own business.
Big banks have maintained a monopoly in the international payment's space, charging exorbitant fees to community banks and credit unions and those they serve.
Rest assured, there are innovative solutions available that are working to support these smaller institutions with tools and services to keep this non-interest income in-house; community banks and credit unions just have to be educated on these solutions and work with partners they trust and are reputable. Despite the obstacles, community banks, and credit unions continue to strive to serve their customers and maintain their presence in the financial industry.
Get the latest community banking news and how it could impact your financial institution. Welcome to this month’s Community Banking News update, your...
From stablecoins to tariffs, Ethan Singleton shares his insights on what’s next for banks navigating fintech innovation and regulatory shifts.
This month’s new developments in cross-border payments and correspondent banking around the world. In this month’s Global Correspondent Banking...