Now that its deal with Texas Capital has been called off, Independent Bank in McKinney plans to scale back or exit some commercial lines and will seek to duplicate its retail banking successes in Colorado.
With economic uncertainty, a pandemic, and concerns around race and equity topping daily headlines, existing initiatives to transform and innovate across people, processes and technology have become more amplified.
The coronavirus pandemic has opened up a number of specific areas with potential for the profession, according to leaders at the AICPA.
Financial firms should offer debt consolidation and faster payment services to help employees who may be struggling through the coronavirus pandemic.
CEO Greg Carmichael says the Cincinnati company has cut expenses but will proceed with branch openings in the Southeast and investments in its commercial loan and mortgage origination platforms to lay the groundwork for post-pandemic growth.
The Tax Cuts and Jobs Act created opportunity zones as an economic development tool to stimulate investments in distressed communities.
The COVID-19 pandemic has highlighted the need to have a business continuity and disaster recovery plan and a pandemic plan in place.
Firms may want to trade short-term cash for long-term goodwill.
Accountants have no need to return to crowded offices, especially not in states where COVID-19 is having a second wind.
The coronavirus pandemic has exposed weaknesses even at well-established fintechs. They could become more resilient by partnering with traditional financial institutions.