Independent Banker - January 2024 - 38

" 2024 will be an AI
investigation year.
It's intriguing and a
little scary, but there
are some business
use cases for it. It's
fi guring out good use
cases and what areas
you want to avoid. "
-SHANE PILARSKI,
ALLIANCE BANK
3 TECHNOLOGIES THAT CAN
CREATE EFFICIENCIES IN 2024
When it comes to choosing the right technology to streamline processes, create eff iciencies
and cut costs, the sheer number of choices can be daunting. ICBA's preferred service
providers are dedicated to the community banking industry. Many of these providers
specialize in technology solutions like a few of those mentioned in this year's CEO Roundtable:
1.
ROBOTIC PROCESS
AUTOMATION (RPA)
" RPA is a set of technologies
that can do repeatable,
redundant tasks in an
eff icient, cost-eff ective
manner without human
intervention, " explained
Charles Potts, ICBA senior
vice president and chief
innovation off icer, in a
November 2021 article in
Independent Banker. " Robotic
process automation excels at
processing structured data
for high-volume, rule-based,
repetitive processes that are
prone to human error. "
For example, RPA can help
with such tasks as customer
communications, collections,
account opening, updates on
core banking, systems, and
debit and credit card fraud
processing.
2.
LOAN ORIGINATION
SOFTWARE
Loan origination software can
help community banks save
time and money and increase
employee productivity.
Although origination software
off ers varied features, most
include the following basic
functions:
* Automate credit reports,
appraisals and titles
* Generate loan documents
without rekeying information
multiple times
* Analyze borrower's financials
and tax form documents
* Monitor compliance renewals
In addition, some loan
origination software
allows you to customize
the customer experience,
combining a digital
experience with a tailored
customer experience.
3.
AI
Community banks
can capitalize on artificial
intelligence to enhance
customer service, deter and
detect fraud by identifying
anomalies in payments,
loan applications, invoices
and more, and synthesizing
large amounts of data into
actionable reports and
outputs, to name a few of
its many benefits. However,
understanding the risks
and knowing when to take
the plunge are critical for
success. The right AI choice
for your community bank will
meet your institution's and its
customers' needs.
Visit ICBA's Preferred Service
Provider directory (icba.org/
solutions) to find the right
technology and services for
your community bank.

http://icba.org/solutions http://icba.org/solutions

Independent Banker - January 2024

Table of Contents for the Digital Edition of Independent Banker - January 2024

Contents
Independent Banker - January 2024 - Cover1
Independent Banker - January 2024 - Cover2
Independent Banker - January 2024 - Contents
Independent Banker - January 2024 - 2
Independent Banker - January 2024 - 3
Independent Banker - January 2024 - 4
Independent Banker - January 2024 - 5
Independent Banker - January 2024 - 6
Independent Banker - January 2024 - 7
Independent Banker - January 2024 - 8
Independent Banker - January 2024 - 9
Independent Banker - January 2024 - 10
Independent Banker - January 2024 - 11
Independent Banker - January 2024 - 12
Independent Banker - January 2024 - 13
Independent Banker - January 2024 - 14
Independent Banker - January 2024 - 15
Independent Banker - January 2024 - 16
Independent Banker - January 2024 - 17
Independent Banker - January 2024 - 18
Independent Banker - January 2024 - 19
Independent Banker - January 2024 - 20
Independent Banker - January 2024 - 21
Independent Banker - January 2024 - 22
Independent Banker - January 2024 - 23
Independent Banker - January 2024 - 24
Independent Banker - January 2024 - 25
Independent Banker - January 2024 - 26
Independent Banker - January 2024 - 27
Independent Banker - January 2024 - 28
Independent Banker - January 2024 - 29
Independent Banker - January 2024 - 30
Independent Banker - January 2024 - 31
Independent Banker - January 2024 - 32
Independent Banker - January 2024 - 33
Independent Banker - January 2024 - 34
Independent Banker - January 2024 - 35
Independent Banker - January 2024 - 36
Independent Banker - January 2024 - 37
Independent Banker - January 2024 - 38
Independent Banker - January 2024 - 39
Independent Banker - January 2024 - 40
Independent Banker - January 2024 - 41
Independent Banker - January 2024 - 42
Independent Banker - January 2024 - 43
Independent Banker - January 2024 - 44
Independent Banker - January 2024 - 45
Independent Banker - January 2024 - 46
Independent Banker - January 2024 - 47
Independent Banker - January 2024 - 48
Independent Banker - January 2024 - 49
Independent Banker - January 2024 - 50
Independent Banker - January 2024 - 51
Independent Banker - January 2024 - 52
Independent Banker - January 2024 - 53
Independent Banker - January 2024 - 54
Independent Banker - January 2024 - 55
Independent Banker - January 2024 - 56
Independent Banker - January 2024 - 57
Independent Banker - January 2024 - 58
Independent Banker - January 2024 - 59
Independent Banker - January 2024 - 60
Independent Banker - January 2024 - 61
Independent Banker - January 2024 - 62
Independent Banker - January 2024 - 63
Independent Banker - January 2024 - 64
Independent Banker - January 2024 - 65
Independent Banker - January 2024 - 66
Independent Banker - January 2024 - 67
Independent Banker - January 2024 - 68
Independent Banker - January 2024 - Cover3
Independent Banker - January 2024 - Cover4
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https://www.nxtbook.com/mspc/independentbanker/december2017
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