• Home
  • Education
  • News and Resources
  • Advocacy
  • Associate Members
  • Contact
  • Click to open the search input field Click to open the search input field Search
  • Menu Menu

Tag Archive for: Wisconsin Banker

Posts

Community, Member News, News

Community Advocate Spotlight: Bank of Mauston President and CEO Molly Scully

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Bank of Mauston President and CEO Molly Scully.

Molly Scully

Rose: How did you first get into the banking industry?
Molly: My stepfather was a banker his entire life and from an early age, I was inspired by his work ethic and commitment to our community. He was dedicated to providing excellent service to his customers and to strengthening the community we lived in. He believed in giving back and set a remarkable example of how a community bank should actively engage with and support the community. I started working for him at Bank of Mauston when I was in college. I did everything from receptionist and teller work to filing and shredding documents.

What is your favorite aspect of your role at the bank?
My favorite aspect of my role is seeing the impact that our bank has on our community through donations, sponsorships, and employee giving. I am proud of how our bank and our employees partner with the communities we serve.

In addition, whether it’s supporting local businesses with different lending options, helping families buy their first home, or continuing to provide the most efficient products and services to our customers, I love that banking is more than just numbers, it truly is about building relationships.

What do you wish the general public understood about the banking industry?
I wish the public understood just how heavily regulated the banking industry is, and while the regulations can at times feel like a burden, they exist to protect customers and maintain trust in the financial system. Also, customers are often confused about interest rate changes from the Fed and how it relates to their accounts. It would be helpful if the general public understood the interest rate risk that banks need to manage.

Where do you believe the industry’s greatest challenges are in the next three to five years?
First, I think navigating the evolving regulatory environment is always a challenge. Second, although banks have made great advancements in cybersecurity monitoring technology, I also think that prioritizing the added expense for cybersecurity tools, employee training, and threat detection systems will continue to be challenging. Third, I think since interest rates surged in 2022 the impact of interest rates will remain a challenge. Despite the fact that rates have stabilized a bit, the economic environment remains volatile. Regardless of the challenges facing community banks, I do feel that banks will have great opportunities to leverage AI for enhancing fraud detection and risk management. It has been exciting to explore how these technologies can drive efficiency and detect fraud in real-time to limit financial losses.

Please describe your current role at your bank and share with us one of your more rewarding experiences (e.g., A time you had to go above and beyond to help a customer, a memorable customer interaction, stepping in to help the local community after a disaster, or something more personal, etc.).
My current role at Bank of Mauston is President and CEO. One of the most rewarding aspects of my career has been the opportunity to hire and develop our staff. Banking is a people-driven industry, and I firmly believe that our bank’s greatest asset is the talent and commitment of our team. I am
truly blessed to work with the amazing people at the Bank of Mauston. I am also very proud of how we partner with our community. Most notably, my stepfather started a food drive over 41 years ago to support our local food pantry that continues today. Every November the bank hosts a food drive
and matches donations that are raised. In addition, the Bank also partners with the Mauston High School Key Club. Their fundraising efforts have taken our community food drive to new levels and have impressively set records in our state for money raised and food collected. Over the past 41 years, together as a community, we have raised over half a million dollars.

Do you know a banker who should be recognized as a Community Advocate for the work that they do? Nominate them today by emailing Rose at ropoels@wisbank.com!

June 2, 2025/by Katie Reiser
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Lime-Green.jpg 972 1921 Katie Reiser https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Katie Reiser2025-06-02 07:32:302025-06-02 07:32:30Community Advocate Spotlight: Bank of Mauston President and CEO Molly Scully
Advocacy, Member News

Advocacy Update: Advocacy is an Investment in Our Industry’s Future

By Lorenzo Cruz

Minimizing risk, building relationships, investing in communities, and improving lives are the pillars of banking — and the foundation of our approach to advocacy. As bankers, we are entrusted with protecting and growing our customers’ assets. Similarly, through government relations, we work to safeguard and advance the interests of the banking industry in the legislative, regulatory, and judicial arenas.

Advocacy is essential. It helps neutralize threats and seize opportunities that benefit our institutions, customers, and the communities we serve. Just as we manage financial risk, we must also manage political risk — and that requires consistent engagement at all levels of government.

The Wisconsin legislative session is well underway. The WBA government relations team is actively advocating on key issues including credit card fees, trust code updates, ESG regulations, credit union powers, privacy, and artificial intelligence. Budget deliberations are in full swing, with lawmakers weighing tax cuts and funding for K-12 education, higher education, health care, corrections, and transportation. The Joint Finance Committee’s votes are expected in May, with final floor action likely in June. While budgets are usually signed by early July, this year may stretch longer.

Meanwhile, politics remain highstakes. The recent State Supreme Court race was the most expensive nonpartisan judicial contest in U.S. history, with spending exceeding $100 million. These spending levels underscore the ongoing volatility and importance of staying politically engaged.

Bankers play a crucial role in WBA’s advocacy efforts. One of the most impactful ways to contribute is through financial support of Wisbankpac or the Alliance of Bankers Conduit, which fuels our ability to support pro-banking candidates and policies. Our 2025 goal is $300,000, and we need leadership from every corner of the industry to get there.

We urge bank Presidents and CEOs to join the Leadership Circle and ensure their institutions achieve Gold Triangle recognition. Senior management and board members are encouraged to give at the Silver Triangle level. All employees — managers and staff — can make meaningful contributions of $125, $250, $500, or more. Every dollar supports allies who understand and champion our industry in Madison and Washington, D.C.

These investments deliver real results. Thanks to WBA’s advocacy and the support of our legislative partners, Wisconsin enacted the first-ever income tax exemption on commercial loans of $5 million or less — a landmark achievement projected to save banks over $24 million annually. This legislation is now a model for other states, showcasing the power of political engagement.

To maintain this momentum, we must continue building relationships, expanding our influence, and supporting advocacy programs. In addition to giving, consider participating in events like Capitol Day, the Kohler Issue Advocacy Outing, Milford Hills Sporting Clays PAC event, Take Your Legislator to Work Day, or by becoming an Advocacy Officer and working toward BIGG (Bankers Involved in Grassroots Government) recognition.

Your investment in WBA advocacy isn’t just a contribution — it’s a strategic move that protects our future and drives real returns.

Cruz is WBA vice president – government relations.

May 20, 2025/by Katie Reiser
https://www.wisbank.com/wp-content/uploads/2021/09/Untitled-3_Yellow.jpg 972 1920 Katie Reiser https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Katie Reiser2025-05-20 08:00:522025-05-20 08:00:52Advocacy Update: Advocacy is an Investment in Our Industry’s Future
Compliance, News, Resources

Regulation CC Threshold Adjustments

By Scott Birrenkott

Every five years, the agencies amend Regulation CC to adjust for inflation dollar amounts relating to availability of funds. In May of 2024, FRB and CFPB issued a final rule amending Regulation CC with new adjustments. The effective date for the threshold adjustments is July 1, 2025. However, banks are permitted to implement those changes sooner if so desired.

To summarize the inflation adjustments:
• The first $225 becomes $275.
• Reg CC requires the first $100 of a deposit made by check be made available on the next business day. This “first $100” rule was adjusted to $200 in 2011, to $225 in 2020, and becomes $275 in 2025.
•  The $450 for non-next day items becomes $550.
• Reg CC provides that cash withdrawals from local and non-local checks need not be available for cash withdrawal until 5:00 p.m. on the day specified in the schedule, but at least $450 of the deposit must be made available for cash withdrawal before 5:00 p.m. This amount becomes $550.
• Note that this $550 is in addition to the $275 available pursuant to the requirements above.
•  The $5,525 of the “large deposit” exception hold, “new account” amount, and the repeatedly overdrawn threshold becomes $6,725.
• Reg CC permits an exception hold on large deposits in excess of $5,525 which becomes $6,725.
• Reg CC permits funds to be held for new accounts in excess of $5,525, which becomes $6,725.
• Reg CC permits when an account is repeatedly overdrawn for funds to be held in excess of $5,525 which becomes $6,725.
•  As of July 1, 2025, the amounts for civil liability in an individual action shall not be greater than $1,350 and $672,950 for class action.

Change in terms notification to customers will be required as well. Reg CC requires notice to customers at least 30 days before implementing a change to the bank’s availability policy regarding such accounts, except that a change that expedites the availability of funds may be disclosed not later than 30 days after implementation. Because the threshold adjustments mean that more funds are available to the customer sooner, the change will expedite availability. Thus, customers must be notified of

Birrenkott is the WBA director – legal

May 19, 2025/by Katie Reiser
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Dark-Blue-on-Light-Blue.jpg 972 1921 Katie Reiser https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Katie Reiser2025-05-19 07:27:462025-05-19 07:27:46Regulation CC Threshold Adjustments
News

Cybersecurity Without the Checklist: Adapting to the CAT’s Sunset

By Rob Foxx

2025 is already shaping up to be an unpredictable year for banks. The 2024 announcement of the retirement of the FFIEC Cybersecurity Assessment Tool (CAT), scheduled for August 2025, has been a major concern for IT and information security management.

The advantage of the CAT was its clarity — it clearly stated requirements and allowed institutions to set defined goals based on their maturity level. However, the tool also had significant drawbacks. It was not based on any existing security frameworks — of which there are many — and it had not been updated since its initial publication in 2015. Additionally, many examiners and auditors used it as a rigid checklist without considering that compensating controls, which meet or exceed a given requirement, could be acceptable.

Over the years, variations of the CAT were developed and maintained by industry professionals. Notably, the Automated Cybersecurity Assessment Tool (ACAT) by the Financial Services Sector Coordinating Council (FSSCC) (now discontinued), the Automated Cybersecurity Examination Tool (ACET) developed by the National Credit Union Administration (NCUA), and the Cyber Risk Institute (CRI) Cyber Profile created by the American Bankers Association (ABA), which is still actively maintained and aligned with modern security frameworks.

Your regulatory requirement has always been to evaluate and maintain your cybersecurity posture based on your institution’s risk appetite and goals. Fortunately, several viable options remain available, as long as they provide a repeatable method for assessing cybersecurity posture. However, most alternative tools do not define clear maturity goals as explicitly as the CAT did.

If you preferred the CAT, the CRI Cyber Profile or the ACET by NCUA are logical successors. Both tools maintain a similar format and function. For a more modern approach that moves away from Excel spreadsheets, CISA’s Cyber Security Evaluation Tool (CSET) is a compelling alternative. It is a free, standalone application that allows multiple contributors, document attachment for evidence, and references source materials for clarity. It also integrates with the NIST Cybersecurity Framework (CSF) and CIS Controls Version 8, which FIPCO IT Audit Services has been recommending for years. CSET additionally offers CISA’s Ransomware Readiness Assessment (RRA), a strong alternative to the Ransomware Self-Assessment Tool (R-SAT). For those seeking a more comprehensive evaluation, CSET provides full IT and information security risk assessments, not just cybersecurity-focused ones. Other acceptable frameworks exist, including paid solutions from IT management providers and specialized risk and security firms.

While change can be challenging, it is not inherently negative. The world has evolved over the past decade and so have cybersecurity threats and the controls used to mitigate them. Adapting how we assess and manage security posture is long overdue.

Consider your options carefully. Although the CAT is being retired, full adoption of a replacement tool is unlikely to be required immediately by August 2025. Now is the time to explore new solutions and ensure your institution remains secure and compliant.

Foxx is director – infosec and IT audit services for FIPCO, a WBA Gold Associate Member.

May 16, 2025/by Katie Reiser
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Light-Blue-on-Green.jpg 972 1920 Katie Reiser https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Katie Reiser2025-05-16 07:30:302025-05-16 07:30:30Cybersecurity Without the Checklist: Adapting to the CAT’s Sunset
Member News, News, Resources

Association Update: New Fraud Summit in June to Address Evolving Threats

By Daryll Lund

Fraud in the financial services industry is constantly evolving, becoming more sophisticated and harder to detect. As fraud risks continue to grow, Wisconsin banks have made it clear that they need more tools, insights, and strategies to stay ahead. In response to these concerns, the Wisconsin Bankers Association (WBA) is introducing a new, one-day Fraud Summit on June 3, 2025, where banking professionals will gather to tackle fraud — one of the most pressing challenges in the industry. This one-day event will explore the latest fraud trends, emerging threats, and innovative strategies to protect financial institutions and their customers.

This event is the result of direct conversations with our members, who have shared their increasing challenges in protecting customers, accounts, and internal systems from fraud. Through this summit, bankers will hear from industry experts on emerging fraud trends, regulatory developments, and best practices for safeguarding their institutions.

WBA remains committed to providing meaningful education and resources that help banks navigate the complexities of today’s financial landscape. The WBA Fraud Summit is just one way we continue to respond to our member’s needs — ensuring Wisconsin banks have access to the latest knowledge and tools to combat fraud effectively.

Other support for members comes from Midwest Bankers Insurance Services (MBIS). MBIS provides assistance and full review of FI Bond and Cyber Liability applications to confirm and discuss internal controls to prevent fraud. MBIS VP of Sales, Jeff Otteson, recommends that banks work closely with their FI Bond and Cyber Liability broker to thoroughly understand the current vulnerabilities and how they can be eliminated with strong internal controls, best practices, and employee training.

More details on the Fraud Summit, including the agenda and speakers, will be shared with members soon. We look forward to offering this new opportunity to help banks stay ahead in the fight against fraud.

For help strengthening your fraud prevention efforts and assessing fraud risk contact Jeff Otteson, MBIS VP of Sales via email at jeffo@mbisllc.com or call 608.217.5219

Lund is WBA executive vice president – chief of staff and president of EBC and MBIS.

May 14, 2025/by Katie Reiser
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Blue-on-Lime-Green.jpg 972 1920 Katie Reiser https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Katie Reiser2025-05-14 08:30:202025-05-14 08:30:20Association Update: New Fraud Summit in June to Address Evolving Threats
Member News, News

AI Process Automation Q&A With Tim Schneider, CEO and President of Bank Five Nine

Bank Five Nine CEO and President Tim Schneider generously shared insights from Bank Five Nine’s experiences with AI process automation.

At Bank Five Nine, we use a combination of Blue Prism, Python, and JSON as the foundation of our robotic process automation. Each of these tools has its strengths and weaknesses. Some automation uses a combination of all three.

What specific banking processes has your institution automated using AI-driven robotic process automation, and what impact has it had on efficiency?
When we first started our automation initiatives, forty-eight (48) use cases were identified as potential candidates for automation. The following automation processes are in production:

Monthly Auditing
•  Run monthly reports from Encompass and upload to StoneHill site/portal for auditing to meet GSE and government loan program requirements in Encompass. File and maintain selected loans in Encompass for access by StoneHill.

Use dates and data from loans in Fiserv Premier to automate emails to borrowers
•  First payment details/reminder
•  Subsequent Payments, as due after a certain date
•  Escrow activity notification (pre and post)

Update Customer Information in Premier
•  Read Activity reports provided by 3rd party and perform maintenance in Navigator

Operation Support Maintenance Tasks
•  Closed Accounts
•  eStatement Setup
•  Missing Endorsements

Non-post
•  Review report and post to an existing account or return maintenance

Rendering Statements
•  Automation of the rendering process

COLD Commit Bot
•  Commit all COLD reports parsed into Digital Imaging. The bot emails stakeholders that the process has been completed and that reports are available for the day.

EBC Parser
•  Reviews text files from Fiserv that list login attempts for Business OLB users and counts any user with 12+ login attempts.

Check Image Data Extraction
•  Review OCR data collected from Director Imaging Automated Indexing and exports it to a file location. This data is compared against the Teller Check report to assign a check number (from the check image) to the payee/remitter/amount data. This is
then compiled and sent to MoneyGram. The purpose is to add the Payee name so MoneyGram can lower the risk associated with cashier’s checks.

Zelle Balancing/Transfer Reports
•  RPA Blue Prism, Director workflow, and Python scripting are used. Reports from our online banking system are exported by a bot. Director Imaging exports a text file from Fiserv. A Python script then compares the two reports to identify Zelle transfers that were made by customers after the Fiserv cutoff. These transfers were causing our GLs to be out of balancing due to the difference in cutoff times between Fiserv and NCR OLB.

HMDA Score Update
•  RPA BluePrism bots generate a report from our LOS monthly. The bot then goes into each loan on the report and updates the data based on the generated report.

Loan Maintenance Review
•  We use BluePrism to export an autogenerated text report from Fiserv and use an input file with several keywords to search for maintenance that needs to be reviewed. There are two separate bots for Commercial and Retail loan operations teams.

Online Banking Activity Reporting
•  RPA Blue Prism is used to export documents for archiving and retrieval in Director Imaging. This is a daily process. We maintain records for failed logins, eStatement sign up, enrollment, new transfers, etc.

Loan Document Export for Disaster Recovery
•  RPA Blue Prism is used to export documents for archival in Director. The bot processes closed loans daily.

Reg CC Review
•  Bots use Director Import PDF Processor and Workflow to route checks to Operations Support to place holds. Operations uses options within the workflow to approve, deny, or void the Reg CC requests. Branches receive auto-notifications from workflow based on the activity of Operations Support

Debit Card Review
•  Auto-review common maintenance types to eliminate the need for manual review on all items. From an efficiency perspective, the processes that we have automated have greatly reduced the number of hours associated with that process. People still must review the output to ensure that it is correct and troubleshoot the automation if it errors off. We reduced the tasks, not the responsibilities.

What lessons did your bank learn during the implementation of AI for process automation? Were there any unexpected challenges or benefits?
Automation is not a create it and forget it process. Automation is an iterative process. Continuously changing and evolving as technology and business processes change. Data quality and process mapping are key to success. Having people who know why things are done the way they are is so critical to success.

Which repetitive tasks at your bank have been the easiest to automate, and which have proven more complex?

The tasks that have been the easiest to automate are the ones with processes that are clearly defined and whose outputs/outcomes are known. Example: Did the customer specify that they wanted an e-statement? Yes or No. Any process that, while clearly defined, has multiple outputs/outcomes and triggers other processes based on those outputs/outcomes has been the most challenging.

Has AI-driven automation improved accuracy in your bank’s operations?
Yes and no. Data quality is critical to success. The automation is only as good as the information that we feed it.

What advice would you give to other community banks considering AI for process automation, particularly in balancing technology adoption with maintaining a personal touch in customer service?
Focus on customer needs: Internal / External. Ensure that the automation addresses the specific needs and expectations of the customer.

May 14, 2025/by Katie Reiser
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Lime-Green.jpg 972 1921 Katie Reiser https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Katie Reiser2025-05-14 07:46:082025-05-14 15:51:26AI Process Automation Q&A With Tim Schneider, CEO and President of Bank Five Nine
Member News, News

Harnessing AI for Process Automation in Banking: Smarter, Faster, and Yes More Human

By Katie Reiser

Banks face mounting pressure to streamline operations, enhance customer service, and stay competitive in a fast-evolving digital world. Artificial intelligence (AI) is no longer a buzzword — it’s a key driver of modern banking operations. Among its most impactful uses: process automation.

AI-assisted process automation falls into two main categories: Robotic Process Automation (RPA) and Business Process Automation (BPA). While similar, they serve distinct functions.

RPA vs. BPA: What’s the Difference?

(In the spirit of embracing AI, I asked ChatGPT to explain the difference.)

Robotic Process Automation (RPA) involves using software “bots” to mimic repetitive human tasks. Common examples in banking include extracting data from forms, moving data between systems, and sending routine notifications. When paired with AI, RPA becomes smarter — bots can understand natural language, process unstructured data, and even make basic decisions. For instance, AI can enable bots to read loan applications and extract relevant data, reducing manual input errors.

Business Process Automation (BPA), on the other hand, focuses on end-to-end workflows. AI-assisted BPA doesn’t just mimic tasks — it analyzes and optimizes entire processes. Think of onboarding a customer: BPA can automate ID verification, credit checks, and document collection, all while AI determines the fastest and most efficient path based on real-time data. BPA is typically broader in scope than RPA and integrates more deeply with business systems.

Streamlining Banking Operations with AI
•  Customer Service: AI chatbots and virtual assistants can manage routine inquiries 24/7, freeing staff to handle more complex needs. Bank of America’s Erica handles millions of monthly interactions, helping with tasks like transaction searches and bill reminders.
•  Fraud Detection: AI rapidly scans transactions for anomalies, flagging potential fraud in real time — faster and more accurately than manual reviews.
•  Loan Processing: AI tools analyze credit reports, verify income, and assess risk more efficiently. JPMorgan Chase has slashed contract review times from thousands of hours to seconds using AI.
•  Compliance and Risk: AI helps monitor regulations and analyze internal policies. Automation reduces errors and allows teams to focus on higher-value compliance work.
•  Back Office Operations: AI driven RPA automates data entry, reconciliations, and report generation, cutting turnaround time and cost.

Making Work More Human
Rather than replacing employees, AI often enhances their roles. By offloading repetitive or low-value tasks to automation, bank employees can focus on work that requires judgment, creativity, and human interaction.

For example, instead of spending hours manually checking documents, a loan officer can spend more time consulting with customers on the best financial products for their needs. This not only improves employee satisfaction but also enhances the overall customer experience.

Kathy Strasser, EVP, chief operating officer/ chief information officer with IncredibleBank in Wausau, was a panelist for the popular AI in Action session during WBA’s Bank Executives Conference. When asked by panel moderator Eric Cook, chief digital strategist with WSI Digital (who also runs GSB’s Digital Banking School and teaches for the WBA’s School of Bank Management), about reassuring staff who may be uneasy with AI and concerned that it will ultimately replace employees, Strasser shared, “It’s about helping our employees get rid of the mundane part [of their jobs] so they can do the higher value things they want for their career path.”

Pitfalls and Considerations
While the benefits are compelling, banks should be aware of the challenges and risks associated with AI-assisted automation:
•  Data Quality: AI models are only as good as the data they are trained on. Poor data quality can lead to incorrect decisions or biased outcomes.
•  Over-Reliance on Automation: Not all processes should be automated. Some tasks require human oversight, especially when ethical or legal considerations are involved.
•  Cybersecurity and Privacy: Automated systems that handle sensitive customer data must be secure and compliant with data protection laws like GDPR or GLBA.
•  Change Management: Integrating AI into banking operations requires a shift in mindset and process. Employee training, clear communication, and stakeholder buy-in are crucial to successful implementation.
•  Regulatory Scrutiny: Regulators are increasingly focusing on how AI is used in financial services. Banks must ensure transparency and explainability in their AI systems.

Getting Started
For banks considering AI-assisted automation, the following steps can help:
1.  Start Small and Have a Goal: Be clear on what you want to accomplish. Often the need to gain speed, cut costs or improve the customer experience are different. Identify low-risk, high-volume tasks suitable for automation.
Gain quick wins and build confidence.
2.  Assess Readiness: Evaluate your current tech infrastructure and data maturity.
3.  Choose the Right Tools: Consider whether RPA, BPA, or a hybrid approach best suits your needs.
4.  Ensure Governance: Establish frameworks to monitor AI performance, ensure compliance, and manage risks.
5.  Invest in People: Train staff on new tools and encourage a culture of innovation and continuous improvement.

Also serving on the AI in Action panel were Forward Bank’s COO Sheri Dick and Chris Nichols, Director of Capital Markets at SouthState Bank, who shared their approaches to governance. Nichols said, “We started with a
steering committee and that evolved into an AI working group. This led to a charter and policy which evolved into having a full governance framework that outlines procedures and requirements and then added an AI strategy.” Nichols added, “I’m a big fan of aligning your business goals with your AI goals.”

Dick explained, “We have a governance policy and a practical use policy, but what we did from a foundational standpoint is we had an AI education session for all employees. A lunch and learn to help them understand… What is AI? What are the definitions of AI? What are the practical uses of AI?” She added, “These training sessions got everyone level set and gave us a foundation for each employee and we started from there.”

Regarding to investing in people, Nichols highlighted an unexpected benefit, “It makes for more confident employees. That’s not something that we really thought about when we originally made the AI use case. But what we found when we do our employee satisfaction survey every quarter, the more they use AI, the more confidence they have.”

Putting AI into Action
Cyrene Wilke, Chief Operations & Information Officer, Executive Vice President with Horicon Bank and another AI in Action panelist, offered this advice to banks considering using AI for process automation, “Start with focusing on opportunities to gain efficiencies in the back of the house in operations. Most banks will find processes being performed manually that can be fully or at least partially automated. Finding ways to be more efficient can free up time to provide better, more personalized customer service.”

Cook shared this insight, “I don’t want to make it sound like AI is going to be the panacea that’s going to solve all of your problems, but if it sparks that dialogue in your organization to make you question why you’re doing what you’re doing and [suggests] maybe there’s a better idea, I think that can be a really healthy dialogue for everybody to have.” AI-assisted automation offers banks a path to operate more efficiently, improve customer service, and empower employees.

By understanding the differences between RPA and BPA, choosing the right tools, and planning ahead, banks can move toward innovative and adaptable ways of working.

May 12, 2025/by Katie Reiser
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Lime-Green.jpg 972 1921 Katie Reiser https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Katie Reiser2025-05-12 07:21:492025-05-12 07:21:49Harnessing AI for Process Automation in Banking: Smarter, Faster, and Yes More Human
News

Strategic Connections — Embracing Change in the Workplace: A Must for Modern Banking

By Heather Calnin

Heather Calnin

The banking industry is changing fast. Technology is advancing, customer expectations are evolving, and regulations keep shifting. For many of us, it can feel like the ground is constantly moving beneath our feet. But here’s the reality — change isn’t slowing down. Instead of resisting it, we need to lean in, adapt, and find ways to make it work for us.

Why Change Feels Hard
Let’s be honest — most of us like routine. We get comfortable with the way things are, and when something new is introduced, it can feel like just one more thing to figure out. That’s a natural reaction. The problem isn’t change itself — it’s the uncertainty that comes with it.
But here’s the good news … once we shift our perspective, change becomes easier to manage. Instead of seeing it as something being done to us, we can see it as a chance to learn, improve, and better serve our customers.

Overcoming Common Barriers to Change
Resistance to change often stems from fear of the unknown, lack of clear communication, or comfort with existing routines. To overcome these barriers, banks and leaders must:
•  Communicate the “Why” Behind Changes – Employees need to understand the reasons behind organizational shifts.
•  Provide Adequate Training & Support – Investing in education and hands-on training ensures smoother adoption of new systems or processes.
•  Recognize & Reward Adaptability – Celebrating employees who embrace change fosters a culture where adaptability is valued.

How to Embrace Change in the Workplace
So how do we make that shift? It starts with mindset. Embracing change doesn’t mean accepting every new idea without question. It means being open to growth, willing to learn, and committed to making change work — even when it’s uncomfortable. Here are four key ways we can do that:
•  See Change as an Opportunity
Every change, whether it’s a new system, process, or policy, comes with challenges. But it also brings the chance to work more efficiently, serve customers better, or gain new skills. When we look for the benefits, we’re more likely to stay engaged and positive.
•  Take Ownership of Learning
With change comes the need to learn something new. Instead of waiting for someone else to show us the way, we can take responsibility for our own growth. Asking questions, seeking out resources, and sharing knowledge with colleagues makes the transition smoother for everyone.
•  Trust the Process
Not every change will make sense right away, and that’s okay. Leadership teams work hard to make decisions that align with the organization’s long-term goals. Trusting that process — and giving new initiatives a fair chance — helps build a culture of teamwork and progress.
•  Support Each Other
Change is easier when we go through it together. Encouraging colleagues, staying positive, and focusing on solutions rather than frustrations helps the whole team move forward. The more we work together, the stronger our organization becomes.

A Culture That Welcomes Change
The banking world isn’t slowing down, and neither can we. When we embrace change instead of fighting it, we open the door to new opportunities — not just for our organizations, but for our own growth and success. Let’s choose to adapt, innovate, and move forward together!

Heather Calnin, director of marketing and business development, BLC Community Bank, is a member of the WBA Marketing Committee.

May 9, 2025/by Katie Reiser
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Yellow-on-Light-Blue.jpg 972 1921 Katie Reiser https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Katie Reiser2025-05-09 07:48:402025-05-09 08:44:48Strategic Connections — Embracing Change in the Workplace: A Must for Modern Banking
News

The Struggle for Deposits

By Malcolm McDowell Woods

Increased market volatility, competition from fintechs, and a hodgepodge of other consumer investment opportunities means banks need to step up their game in order to attract new deposits and hold onto existing accounts, but anyone looking for a single solution is probably out of luck.

That’s the consensus from several banking officials and other experts in the financial services industry, who say there are a number of proven strategies to accomplish deposit growth: going big, either by marketing your products beyond your own geographic region, or by seeking larger deposits; going digital, by fully embracing digital banking or joining forces with a fintech; by developing and offering new or unique products; or by going old school and refreshing the customer service experience and community-building endeavors banks have long practiced.

“Every bank in the country wants deposits,” maintains Tim Kotnour, president and CEO of State Bank Financial of La Crosse, “and our bank is no different.” But banks in search of deposits, and the consumers they serve, are navigating a rapidly changing environment. Kotnour notes that from 2010 on, steady low interest rates meant there hadn’t been much change in consumers’ preferences, but all that started to change a couple years ago.

“Interest rates are quite a bit higher now. They were at zero for a gazillion years and now they have shot through the roof, from zero to four or five percent,” says Kotnour. That change has been a significant driver of customer demands. “We have seen a lot more pressure to reward our clients with money today.” That dialog wasn’t happening five years ago, because nobody was paying anything, he adds. Customers had quit asking.

Today, though, Kotnour says that impatient customers seeking higher returns after years of low rates are helping to fuel a deposit war. “I would say the customer preference is, ‘for five years nobody paid me anything,’ and if they’re going to put money in my bank, they are going to want more for it.” The days of customers placing $50,000 in a money market that pays .25 percent are over. “I would lose that account.”

Competition among institutions along interest rates is only one of the drivers causing a shift in consumer behavior, though. Technological advances have radically changed the battleground. “Digital banking, digital banking, digital banking,” says Kotnour. Five years ago, about one-third of his customers used his bank’s mobile banking offerings. Today, nearly all do.

“The world really is moving away from an analog place,” agrees Shana Hennigan, chief business officer with Raisin, a fintech firm which has partnered with more than 70 banks and credit unions across the country to offer consumers a variety of deposit options. “While generations of consumers grew up going into banks and their local branches, I would wager that some members of the younger generations have never stepped foot into a branch.” For consumers, she adds, being able to have digital access is increasingly important.

Firms like Raisin can work with community banks to provide access to a much wider potential market, one not necessarily constrained by geography. “Particularly if you’re a community bank, you can get your products in front of savers nationwide.” For consumers, the firm sells convenience, offering a one-stop shop where they can select from numerous savings account choices. The company’s mobile app boasts that savers can manage all their deposits at member institutions via a single login.

That convenience and ease of use is a powerful attraction, one that smaller financial institutions might have trouble matching. It means not only having a robust and smooth website, but also a mobile app consumers can easily utilize. Not that any of this comes cheap. Developing a robust, effective and efficient website can be very expensive, but debuting a clunky mobile app devoid of features may be even more costly.

“I have a 23-year-old son and I work in a bank, but unless he’s coming down to mooch a lunch off me, he’s hardly ever been in the bank,” notes Kotnour. He adds that he had to teach his son how to write a check but acknowledges that he can easily send a check through his mobile phone via any number of apps.

Fintechs that have created simple pathways for money transfers, such as Venmo, PayPal, Apple Wallet represent significant competition for banks. “What does everyone use to pay friends with?” Kotnour asks. “Venmo, PayPal, Apple Wallet, Google Pay, right? Well, with those you have to move money out of your account. Now, it doesn’t seem like a lot, but when the whole world is doing it, we’re losing deposits. That money used to be in the bank, and now I have to move my money over to Venmo to pay my brother 10 bucks for lunch.”

Kotnour’s bank has taken several steps to remain competitive. The bank has worked with its core service provider, FIS (Fidelity Information Services), to offer customers a full-featured online presence and mobile banking app, as both are consumer expectations. “It’s got to be a good product,” he notes. “There are a lot of junky ones that basically give you your balance and maybe you can move money back and forth a little bit, but the consumer now expects a robust experience.”

The bank’s mobile app also incorporates Zelle, an online payment system that boasts a network of more than 2,200 banks across the country and offers bank customers a secure peer-to-peer payment system. Kotnour is realistic about a community bank’s ability to compete in the technological sphere with giant fintechs, but he believes Zelle can be a useful tool in attracting customers. His staff pitches both the convenience and the security of using Zelle through the bank’s app. “If something goes wrong, you’re not calling the Venmo guy, you’re calling Tim Kotnour.”

Like State Bank Financial’s relationship with Zelle, other banks are looking to remain competitive by joining ranks with fintechs. Hennigan says numerous banks have turned to Raisin to market their products to other markets. “If you’re a community or regional bank, you can leverage the Raisin platform to get your products in front of savers nationwide,” she says, without large investments in technology, administrative or marketing costs. “You could really plug into this to efficiently raise retail deposits and have this as another funding tool at the ready to use when it makes sense for the bank.”

For many financial institutions, solutions like the ones offered by Raisin represent another tool in the toolbox, says Hennigan. “You may not need to use all of them but being able to have access to them and know that, when you need it, that funding source is available, it’s really just basic best practices. Make sure you’ve got all the tools and you can deploy them when you need them.”

At CCFBank in northwestern Wisconsin, those fintech tools have been primarily internal. “We have partnered with fintechs and have seen the greatest impact from the operational software providers (banker training, BSA/AML and Loan Origination Software) which has improved knowledge and efficiency,” says Steve Bianchi, the bank’s president and CEO. “We tried an online account opening platform and found a high percentage of new accounts to be fraudulent and terminated that experiment. Our view is to focus on what we do well as a community bank and not be distracted by bright, shiny objects that could distract us.”

Besides the strength in numbers approach, another pathway towards growing deposits is the pursuit of large-scale deposits. Intrafi is a Virginia-based firm which oversees a network of more than 3,000 financial institutions across the country. It was founded with the objective of providing greater security for larger deposits by effectively spreading those funds across multiple member institutions, thereby maintaining FDIC coverage.

H.D. Barkett, a senior marketing manager at Intrafi, says that market volatility, the current economic uncertainty and inflation fears have all combined to place on emphasis on deposit safety. “Many of the banks we speak with are stressing safety and the benefit of millions in aggregate FDIC insurance coverage across network banks available via deposit placement networks,” he notes, adding that while it isn’t a new strategy, it is critically important in today’s environment.

“While corporate accounts and public funds are a consistent marketing focus, we are seeing increased interest in banks marketing to high-net-worth individuals,” reports Barkett. “Given that there are ways to provide access to FDIC insurance for their total deposit amounts, including aggregate amounts more than the $250,000 limit at any one bank, banks can be more aggressive about competing with the largest banks for those customers.”

The ability for customers to place their deposits through a single bank and still maintain access to FDIC insurance coverage for aggregate deposits over $250,000 across network banks is a significant benefit for Intrafi’s partner banks, says Barkett. “It is hugely beneficial for the customer, allowing them to negotiate a rate for their total deposit. As for the bank, once those deposits are placed through that institution, the depositor is less likely to move the money to multiple banks (to be eligible for FDIC insurance coverage).” That security may prove more alluring than higher rates. “Deposit retention is higher for insured deposits vs. uninsured deposits” says Barkett. “While initially, rates may entice a depositor to become a customer, without the ability to consolidate the customer’s total deposit relationship with benefits such as access to millions of dollars in FDIC insurance across network banks, those deposits tend to be more rate sensitive.”

For customers, services such as Intrafi and Raisin offer the opportunity to access offerings from banks far beyond their own neighborhood, but finding one’s way through hundreds of offerings can be daunting. Hennigan says Raisin works to tell each bank’s unique story. “Consumers care where their money goes,” she notes. “The Raisin platform is able to kind of tell the story of our individual institutions. Are they family owned? Have they been in their community for decades? Are they a community development organization? Are they a minority owned or women-led institution? All of these things are ways for institutions to differentiate.”

Kotnour values those types of differentiators. State Bank Financial has been operating in the La Crosse region since 1858. “We’re the second oldest bank in the state,” he points out. The bank’s messaging relies on its history and presence in the community. “We haven’t changed. Old, stodgy, boring, with good relationships, smart bankers and cool technology. That attracts deposits.”

Bianchi reports that CCFBank has embraced its roots as a community bank, by reinforcing the basics of business development and relationship banking. “We have seen momentum build over the last two plus years,” he says. “We also aligned incentive plans to better reflect our values and the results that will make us a stronger community bank for our customers. Product knowledge throughout the bank on cash management is everyone’s job. That is something we have been able to build and leverage to grow value in our relationships.”

At the Bank of Sun Prairie, CEO Jimmy Kauffman also stresses his bank’s role in the community. It’s part of a multi-faceted strategy the bank has adopted to gather deposits, combining financial literacy programs with new products aimed at an underserved population and by leveraging partnerships in the community. For example, the bank introduced a fresh start checking program along with a micro-lending initiative with St. Vincent De Paul in Sun Prairie and created move-in packages in partnership with multi-family housing developers.

“It’s really forced us out of a singular approach to deposit gathering,” says Kauffman, and to focus instead on a variety of components. “I think long term it’s really good for banking and for our bank to make sure we have all these different tools in the toolbox. Consumers bank at a bank because that partnership helps manage the risk of the services they’re using.”

Local expertise still matters, maintains Kauffman. “You wouldn’t go to your medical doctor for an eye exam,” he notes. “There’s a reason you go to an eye doctor.” For banking, the same logic holds. “I see a lot of value in continuing to have those local relationships with your financial institution.” Customers know the bankers and they anticipate that the money – their money – stays in the community.

“The value proposition of banking locally, with a community bank, continues to be very strong,” Kauffman concludes.

McDowell Woods is a freelance writer and an instructor of journalism and media studies at the University of Wisconsin–Milwaukee.

May 6, 2025/by Katie Reiser
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Dark-Blue-on-Light-Blue.jpg 972 1921 Katie Reiser https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Katie Reiser2025-05-06 06:57:132025-05-06 06:57:13The Struggle for Deposits
Member News, News

Chair’s Column: Collective Strength, Shared Impact

By Al Araque

As my term as Chair of the Wisconsin Bankers Association (WBA) comes to a close, I find myself reflecting on the past year and the profound impact our industry continues to have on the communities we serve. It has been a true honor to witness firsthand the dedication of Wisconsin bankers in strengthening our economy, supporting small businesses, promoting financial literacy, and helping individuals achieve their financial goals.

When I chose impact as the theme of my term, I knew it was a guiding principle that extended beyond the day-to-day transactions of banking. Every loan we approve, every financial education session we host, and every local business we help grow creates a ripple effect in our communities. Over the past year, I’ve been continually reminded that even the smallest actions — when done with purpose — can create powerful, lasting outcomes.

One of the most meaningful aspects of serving as Chair has been engaging with WBA members across the state. Whether in advocacy efforts, community service, or financial education initiatives, our members consistently demonstrate their commitment to making a difference. I’ve also been inspired by the collaboration between our bank members and associate members, who bring expertise, innovation, and services that strengthen our industry from the inside out. These partnerships elevate the level of service we provide to our clients and contribute to the strength and sustainability of our banking community.

Our impact extends well beyond state lines. I’ve seen how our engagement with national organizations like the American Bankers Association (ABA) and the Independent Community Bankers of America (ICBA) amplifies our voice and deepens our influence. Whether it’s advocating on Capitol Hill, shaping regulatory policy, or sharing insights across state boundaries, we are stronger when we stand together. The collective work we do — locally, statewide, and nationally — continues to shape the future of banking in meaningful ways.

Of course, this year has not been without its challenges. Fraud and cybersecurity threats continue to evolve, regulatory demands grow more complex, and economic uncertainty lingers. Yet, I remain optimistic. The strength, adaptability, and commitment of Wisconsin’s banking professionals are unmatched. Through the WBA, we have a powerful partner that offers tools, education, advocacy, and leadership to help our industry meet these challenges head-on.

I want to express my deepest gratitude to WBA President and CEO Rose Oswald Poels, the entire WBA staff, and my fellow Board members. Your support, dedication, and leadership ensure that our association remains a vital resource for bankers and communities alike.

Finally, I extend my best wishes to incoming Chair Paul Northway as he steps into this important role. Under his leadership, I’m confident that WBA will continue to grow its legacy of service, advocacy, and innovation.

Thank you for the opportunity to serve as your Chair. It has been an experience I will always value, and I look forward to continuing to support WBA and our industry in the years ahead.

Araque is SVP, director of consumer, private, and business banking with Johnson Financial Group, Racine, and the 2024–2025 WBA Chair.

 

May 5, 2025/by Katie Reiser
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Dark-Blue-on-Light-Blue.jpg 972 1921 Katie Reiser https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Katie Reiser2025-05-05 07:52:252025-05-05 07:52:25Chair’s Column: Collective Strength, Shared Impact
Page 1 of 7123›»
Search Search

Categories

  • Advocacy
  • Community
  • Compliance
  • Credit Unions
  • Education
  • Member News
  • News
  • Products
  • Resources
  • Uncategorized

Recent Posts

  • North Shore Bank New West De Pere Branch to Open June 23
  • One Community Bank Announces 2025 Scholarship Recipients
  • Wolf River Community Bank’s New Scholarship Program Awards $1,500 to Area High School Seniors
  • Parker Kruckenberg Has Been Promoted to Commercial Banking Officer
  • Committee Chair Spotlight: Get to Know WBA’s 2025–2026 Ag Section Chair Nicholas Felder

Archives

  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • December 2020
  • November 2020
  • October 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • May 2019
  • April 2019
  • March 2019
  • November 2018
  • September 2018
  • August 2018
  • June 2018
  • April 2018
  • March 2018
  • January 2018
  • November 2017
  • October 2017
  • September 2017
  • May 2017
  • April 2017
  • December 2016
  • November 2016
  • August 2016
Wisconsin Bankers Association logo
  • About
  • Community
  • Subsidiaries
  • Staff

questions@wisbank.com

608-441-1200

4721 S Biltmore Ln.
Madison, WI 53718

Get our Newsletter!
Subscribe

© 2025 Wisconsin Bankers Association. All rights reserved. | Website Design by Bizzy Bizzy
Scroll to top Scroll to top Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

OKLearn more×

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.

Terms of Use
Accept settingsHide notification only

Subscribe

* indicates required








Membership