MIB is engaged in Faster Payments. We are proud to be named a participating organization for the upcoming Federal Reserve Bank FedNow pilot program. We are collaborating with others across the country to evaluate emerging faster payment solutions that are cost effective, easy to use and structured to serve the specific needs of your individual bank and the market(s) you serve. As such, before signing up with a vendor for a faster payment product, please contact Sheila Noll. |
MIB Tailgate Party: September 11th
You're Invited to attend the MIB Tailgate Party for the Hawkeyes vs. Cyclones football game on Saturday, September 11th in Ames, IA. We will be in Lot C5 and the tailgate begins at 10 am. Look for the MIB tailgating flag flying high.
Contact Stacy Snyder at 515-468-9688 for details and to let him know if you plan to attend. Hope to see you there!
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TWO FREE ONE HOUR WEBINARS:
Wednesday, September 22th at 10:00 am
Thursday, September 23rd at 2:00 pm
Breaking the Myth of Work/Life Balance. A new approach to feeling balanced personally and professionally, by Denise Purdy, Purdy Your Image, LLC.
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- You know you need to take more time to spend with your family or even yourself.
- You have a career that requires your time, attention and devotion. But you are feeling the pull in both directions - all the time.
- When you are with your family, you are thinking about work. When you are at work, you are thinking about your family…..or how you’d really like some time for yourself.
Does work/life balance even exist? Is it achievable? YES! Likely not in the way you think though. Discover and refresh your spirit as Denise Purdy shares the truth about work/life balance while you transform your experience of being overwhelmed and distracted to being present and aligned.
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Don't Let Faster Become a Disaster! |
Payment Panel Discussion Webinar on Friday, August 27th was very informative. The panel consisted of industry experts on Faster Payments.
Special thanks To Kevin Olsen,VSoft Corp., for moderating. Also, special thanks to the panel which consisted of:
• Brian Laverdure, ICBA
• Steve Ledford, The Clearing House
• Reed Luhtanen, U.S. Faster Payments Council
• Kim Robbins, Federal Reserve Bank of Kansas City
• Sheila Noll, MIB
The webinar was recorded and a link will be available in the near future for our shareholder/customer banks.
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ABA Daily Newsbytes - August 25, 2021
The Right Way for Banks to Use Texting
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By Tom Sheahan via ABA Bank Marketing |
Text messaging may seem like merely a way to communicate with friends and families, but since the beginning of short message service texting decades ago, its usage has evolved. Texting offers a fast, effective way for businesses to reach customers. And it’s working. According to research from OpenMarket, 83 percent of millennials open SMS messages within 90 seconds of receiving them.
Research from Gartner indicates 90 percent of all people read texts within three minutes of receiving them, and SMS boasts a 98 percent open rate, much higher than email.
While not every industry has jumped on board, many banks are now wading into the texting pool. The private nature of SMS allows banks to send messages to customers that are both discrete and convenient. Calls from a bank during work hours can be uncomfortable; SMS allows customers to talk to their financial institution without saying a word.
Of course, there are regulations that must be followed when deploying an SMS campaign, and appropriate systems must be in place to keep all texting and other communication recorded. From marketing services and offers to account notifications and alerts, bank marketers should keep in mind the following tactics in order to offer convenience and information to customers with business SMS while also building affinity for the bank without becoming a nuisance.
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MIB Family News
Congratulations to:
- Cole Holloway on his recent promotion to VP/Chief Technology Officer.
- John Sapp on being named the employee of the quarter for the 2nd Quarter.
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MIB Banc Services, LLC Celebrates 17th Anniversary |
MIB Banc Services, LLC, the audit subsidiary of Midwest Independent Bancshares, Inc., celebrated its 17th anniversary on Friday, August 13th, with special cookies for the staff in the Jefferson City office. As of the end of July, they have performed close to 150 audits for community banks in our market footprint. Shareholder banks receive discounted pricing on their audits and remote audits are available for many of the services they provide. The calendar for 2022 audits opens on October 1st. Please contact Linda Fick or your relationship manager for details.
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Question:
Does the lock on a website mean the site is secure?
Answer:
Yes and no; the lock means all communications with the site to which you are connected are encrypted, but the lock says nothing about the legitimacy of the site. Site certificates are free and easy to implement, which means even malicious phishing sites are usually operated over HTTPS and will display the lock. Always verify the URL you are accessing came from a legitimate source.
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Question:
What is a common violation found during an ACH audit?
Answer:
Our ACH audits include a review of an Originating Depository Financial Institution’s (ODFI) risk management process. This includes ensuring a bank has established exposure limits in their origination agreements with all originators. While ODFIs do not have issues with establishing exposure limits in their origination agreements, our audit team often finds that those exposure limits do not always match the limits set up in the bank’s ACH processing system. This could be due to the limits being entered incorrectly during the initial set up, or could be the result of not being updated when the bank increased or lowered the limits after a periodic review. Regardless, it is important for the bank to periodically review originator exposure limits in their ACH processing system to ensure they are enforcing the current limit for each originator.
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