Banking New York Magazine

02/09/2020

When the COVID-19 pandemic first struck with its full force in the spring, the country’s major banks said they would not cut staff. Many said it wouldn’t be the proper step to take.

That sentiment appears to be changing, according to reporting by Reuters. The news wire reports banks are now eyeing layoffs as the impact of the short-term crisis lessens and long-term costs emerge.

https://www.bankingny.com/articles/layoffs-could-be-coming-after-all

Analysts Predict All Banks Could Be Hit

24/08/2020

Ted Janicki is the new Buffalo market president for Bank of America. He succeeds Kevin Murphy, who recently retired after more than 30 years with Bank of America.

https://www.bankingny.com/articles/janicki-named-bank-of-american-buffalo-market-president

Succeeds Kevin Murphy Who Retires After 30 Years With Bank

20/08/2020

The Empire State has an unfortunate distinction that could be an opportunity for community banks and credit unions. New Yorkers are in the greatest need of loans of any state across the nation.

https://www.bankingny.com/articles/ny-state-residents-show-strongest-need-for-loans

Inquiries For Various Loan Products Highest In US

06/08/2020

New York was known as a hotspot for the COVID-19 pandemic in March and April when the coronavirus first hit the United States hard. Now it’s an ongoing hot zone for a huge drop in credit card spending.

https://www.bankingny.com/articles/new-york-a-hot-spot-for-rise-in-debit-spending

National Numbers Show A Drop In Credit Card Spending

06/08/2020

Calling all New York Bankers!

Banking New York is debuting a new awards feature, The New York Women in Banking Awards recognizes the women making significant contributions to her institution and the banking industry as a whole.

Don't miss your chance to highlight the accolades of your colleagues who truly deserve the recognition.

It only takes just a few minutes to submit your nomination, but don't wait! The submission deadline for nominations is Thursday, September 3, 2020.

https://www.bankingny.com/aw…/2020-new-york-women-in-banking

05/08/2020

Black-owned businesses, as well as Black communities in general, were particularly hard hit by the COVID-19 pandemic. Over 40% of Black-owned businesses were shuttered between February and April, according to new research from the Federal Reserve Bank of New York.

The New York Fed released a brief discussing the effects of COVID-19 on Black communities and Black-owned businesses in particular. The brief looks at why Black-owned firms have been almost twice as likely to shutter as firms overall during the pandemic.

https://www.bankingny.com/articles/new-york-fed-releases-brief-on-covid-19s-effects-on-black-owned-businesses

Over One-fourth Of Black-Owned Businesses Declined From February To April

03/08/2020

BankMobile, a division of Customers Bank, and among America’s largest and fastest-growing mobile-first banks, announced an ex*****on of an agreement with Google to introduce digital bank accounts, which will be available to its customers.

https://www.bankingny.com/articles/bankmobile-collaborating-with-google-to-offer-digital-bank-accounts

03/08/2020

NY Fed Reports State Economy Rebounding Business activity increased in New York State for the first time in several months, according to firms responding to the July 2020 Empire State Manufacturing Survey. The headline general business conditions index rose to 17.2, its first positive reading since February.

https://www.bankingny.com/articles/ny-fed-reports-state-economy-rebounding

Some Numbers Show Increase But Optimism Dips

01/08/2020

BNY Mellon​ has collaborated with SWIFT to be the first U.S. bank to offer the gpi Case Resolution service to clients, and the fifth globally. It allows for dynamic query handling between banks on the SWIFT network and enables banks to create efficiencies by quickly resolving inquiries where operational, regulatory or compliance information is incorrect or missing from payment instructions.

https://www.bankingny.com/articles/bny-mellon-automates-global-payment-inquiries

31/07/2020

JPMorgan Chase & Co. has invested $180,000 to ExpandED Schools, and New York City Summer Bridge Program as part of its summer youth employment commitment. Over 35,000 NYC youth will benefit.

Summer Bridge 2020 will offer approximately 60-90 hours of activities over a five-week period. The program will prioritize low-income, justice-involved, foster care, runaway and homeless, New York City Housing Authority (NYCHA) residents and young adults from communities hit hardest by the pandemic.

ExpandEd Options has built out an innovative approach to virtual, credit-bearing programming in response to the COVID-19 crisis, by partnering with 10 apprenticeship providers to create and support high school credit-worthy programming.

https://www.bankingny.com/articles/chase-gives-180k-to-two-nyc-summer-programs

Pair Offer Academic, Career Preparation for 35,000 Youth

30/07/2020

The New York Women in Banking Awards recognizes the women making the greatest impact in their banks and credit unions. These are the women innovating and paving the way for the entire banking industry.

For more information visit or submit your nomination visit:

https://www.bankingny.com/awards/2020-new-york-women-in-banking

30/07/2020

The ongoing saga that is the Municipal Credit Union crime story continues with the sentencing of a former NYPD officer for embezzlement. It’s tied into a criminal case that involved the theft of millions of dollars by the former credit union president.

https://www.bankingny.com/articles/former-nypd-officer-gets-27-months-for-cu-embezzlement

27/07/2020

SilverCloud’s Banking Chatbot Surpasses 260,000 Consumer Requests During COVID-19 Pandemic

https://www.bankingny.com/articles/financial-institutions-report-50-percent-increase-in-overall-chatbot-usage

24/07/2020

Gregg H. Rosen, president and principal Mansfield, Massachusetts-based NES Group, spoke with Banking New York about the future of the branch after COVID-19 and what it will look like. Read about the changes you can expect next time you visit your local branch.

https://www.bankingny.com/articles/bankings-personal-touch-on-pause-but-not-gone-forever

23/07/2020

CNB Financial Corp., the parent company of CNB Bank, completed its acquisition of Bank of Akron of Akron, a state bank in Akron, New York.

https://www.bankingny.com/articles/cnb-completes-acquisition-of-bank-of-akron

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22/07/2020

At Banking New York magazine, we're thrilled to debut a new annual feature, the New York Women In Banking Awards. Especially in this time of great change for credit unions and community banks, it's important to recognize the contributions that women in the industry are making. From leadership in the C-Suite, to charting a new digital course, to ensuring that institutions fulfill their missions of economic support for their communities, women are doing it all.

To submit your nomination visit https://www.bankingny.com/awards/2020-new-york-women-in-banking -form but, don't wait! The deadline to submit nominations is September 3.

16/07/2020

After Jihan Michelle Davis was arrested on embezzlement charges, she took the legal tactic of claiming the National Credit Union Administration didn’t have the legal standing to review her bank accounts. Her ploy ultimately failed and she was convicted.

https://www.bankingny.com/articles/challenging-ncua-doesnt-prevent-cu-workers-conviction

16/07/2020

Sterling Bancorp, based in Sterling, N.Y., announced that its principal subsidiary Sterling National Bank is introducing its new banking-as-a-service (“BaaS”) program, which provides a range of customized products, payment and back office capabilities for Fintech and other non-bank institutions.

https://www.bankingny.com/articles/sterling-bank-launches-banking-as-a-service-program

16/07/2020

Ocean Financial - The Catholic Credit Union in Oceanside, N.Y., is giving some green stuff back to the community. It’s not money, though. https://www.bankingny.com/articles/ocean-financial-plants-flowers-to-give-back-to-long-island-community

15/07/2020

Welcome to the Banking New York page! The Empire State's magazine for Financial Executive & Professionals! Check out our latest issue online!

https://www.bankingny.com/magazine

Also, don't forget to follow us on twitter , and stay up to date on all of the Banking New York news! https://twitter.com/BankingNYmag

https://issuu.com/ambizmedia/docs/bny_issue_3_2020_issuu?fr=sNDQ4ZjE2NTk5MT

Banking New York’s annual Best Banks Awards celebrate the top community banks across the Empire State as determined by a truly independent survey of customers and potential customers. See who the winners are and so much more!

09/07/2020

Bridge Bancorp Inc., the parent company of BNB Bank, and Dime Community Bancshares Inc., the parent company of Dime Community Bank, entered into a definitive merger agreement. Read more about the merger at Banking New York.

https://www.bankingny.com/articles/bnb-bank-and-dime-community-bank-to-combine

02/07/2020

"As with all things digital, regulation and security of data are intensive. Data is more intimate today, and privacy and security regulations are more complicated."

Read more of Ankur Garg's article at Banking New York.
https://www.bankingny.com/articles/understanding-machine-learning-tech-stack-for-banks-2

Ankur Garg is a full stack data science expert. He is currently working as enterprise data analytics architect at People's United Bank where he is responsible for providing strategic enterprise vision for data analytics, machine learning and artificial intelligence practices.

Four Key Components Make Comprehension Easier

29/06/2020

Share your story about your bank's or CU's fight against racism. Message us or send us an email!

29/06/2020

Local businesses, nonprofits and communities in the New York metropolitan area are benefitting from a new “community chest” for support. Dime Community Bank announced significant efforts to support neighboring communities and businesses by funding a philanthropic community chest initiative. Read more at https://www.bankingny.com/articles/dime-launches-community-chest-philanthropic-outreach

25/06/2020

After quite a long wait, we know plenty of professionals who are anxious to start getting back out in the world and going back to the office. Here are a few tips to keep yourself healthy and safe as we return to the world outside of our homes.

22/06/2020

Welcome to the Banking New York page! The Empire State's magazine for Financial Executive & Professionals! Check out our latest issue online!

https://www.bankingny.com/magazine

Also, don't forget to follow us on twitter , and stay up to date on all of the Banking New York news! https://twitter.com/BankingNYmag

05/05/2020

René Jones, chairman and CEO of Buffalo-based M&T Bank, has been appointed to Gov. Andrew Cuomo’s New York Forward Re-Opening Advisory Board. Jones appears to be the only banker among the 100 people appointed. Read more at Banking New York.

https://www.bankingny.com/articles/m-t-bank-ceo-appointed-to-ny-reopening-advisory-board

24/04/2020

Advice For Your Clients With PPP Loans

Having trouble keeping up with all of the Payroll Protection Program information? Visit Banking New York for all the essentials to keep you well informed and successful during these confusing times.

https://www.bankingny.com/articles/advice-for-your-clients-with-ppp-loans

22/04/2020

Have you started to make a move to digital?
Read about the factors driving the move toward digital banking.
https://www.bankingny.com/articles/digital-technology-trends-in-banking-2020-2025

Stay on trend and subscribe to Banking New York https://www.bankingny.com/articles/digital-technology-trends-in-banking-2020-2025

20/04/2020

Is being at home starting to make you feel a little bit out of whack? Keep reading for 3 Ways to Maintain Balance While in Quarantine.

1. Turn off the T.V.
It is quite easy to want to keep the news playing in the background all day to keep up with the excess of press releases and the rapid change in information. For the sake of your sanity turn it off. Even if it is only for an hour while you eat dinner or read a book. Your mind needs peace, and a moment to rest. Being in a constant state of worry will not help in maintaining balance.

2. Separate Work From Home
For all our work from home folks who may feel like all you do is work, this may very well be the case. Since many of us are getting much more use out of our neglected home offices, the commute to and from work has been substantially reduced. While some may say there is a direct correlation between productivity and comfy pants, there is also a direct correlation between overworking and burning out. It is probably not the best idea to work a 16 hour day, especially if you don’t have to.

Stick to your routine as if you were still going into the office. If you normally go home at 5, then log off at 5. Its important to still work hard, but to also remember that time for yourself is important too.

3. Complete 1 Task a Day
One task may not seem like much, but one task after 30 days could be a whole project. If you are sick of opening the junk drawer to look for a rubber band, only to find yourself digging though old Chinese food menus and half dead batteries then today might be your day. Tackle small tasks like the junk drawer or the notorious cabinet of mix-matched Tupperware containers, and who knows you might have that Pinterest worthy kitchen by the time were able to start socializing again. What better way to look like a quarantine master than with a completed home project that you couldn’t be prouder of.

16/04/2020

Start preparing for the "new normal." COVID-19 has had such an impact on every aspect of our daily lives. While we are all hoping the end is near and we'll soon return to our old routines, some of our new habits may carry on to the future. Read more about the future of banking at Banking New York.
https://www.bankingny.com/articles/what-a-post-coronavirus-future-looks-like

13/04/2020

Got a case of the Mondays?

Banking New York wants to give you 3 essentials for staying on your game and keeping productivity high!

1. Use noise cancelling headphones
Surrounding noise can be distracting. Headphones will block out and disturbances and keep you focused.

2. Move around every so often
When you're starting to get restless, it's okay to get up and walk around. Take a 5-minute walk around the house, get another cup of coffee. Moving around will help keep your mind fresh and the ideas flowing.

3. Keep a notepad handy
With concurrent group chats and video meetings its easy to lose your thoughts or forget small details. Having a notepad around at all times makes writing down those little thoughts and reminders easy to stay on top of.

What do you do to stay productive while working from home? Comment with your productivity tips and and lets get through another successful week together!

10/04/2020

Amazon To The Rescue For PPP?

Amazon may be helping the U.S. Small Business Administration overcome its outdated equipment to help speed up disbursement of $349 billion for the Payroll Protection Program (PPP). Read more at Banking New York.

https://www.bankingny.com/articles/amazon-to-the-rescue-for-ppp

09/04/2020

Are you hitting a wall trying to find relief information? The Originator Connect Network created a fantastic resource for those seeking information on the aid available to those impacted by COVID-19.

https://www.originatorconnectnetwork.com/covid-19

09/04/2020

Federal Paycheck Protection Program loans have started arriving in Long Island for customers of BNB Bank in Bridgehampton. Read more at Banking New York

https://www.bankingny.com/articles/long-island-ppp-money-starts-arriving

08/04/2020

The latest issue of Banking New York is now available on issuu. You can check it out by clicking the link below or using key words Banking New York in the issuu.com search bar.

Would you like Banking New York to come straight to your e-mail? Subscribe here https://www.bankingny.com/subscribe to be the first to know every time a new issue is released.

https://issuu.com/ambizmedia/docs/bny_issue_2_2020_issuu

06/04/2020

The planned technology center M&T Bank was planning for downtown Buffalo has been put on hiatus. The culprit is the COVID-19 pandemic. Read more at Banking New York

https://www.bankingny.com/articles/m-t-bank-postpones-technology-center