We’re Here to Help Community Banks Weather the Storm

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With the recent fall of Silicon Valley Bank (SVB), community banks may fear a contagion of bank collapses. Between 2001 and 2023, 563 banks collapsed, according to The Federal Deposit Insurance Corporation (FDIC). While the negative fallout from these banks is undeniable, grasping the failed banks’ backgrounds and decisions will safeguard smaller banks from making similar mistakes. 

Celero knows that government intervention will only go so far, so we support smaller banks every step of the way. We’re here to ensure that banks have all the tools, guidance, and support they need to achieve great results, quarter after quarter. 

Let’s talk about why some banks are failing, as well as how we’re helping community banks stay profitable, while also maintaining the integrity of their policies and procedures. 

The Problem With SVB

SVB shocked the banking industry when the California Department of Financial Protection and Innovation forcefully shut it down on March 10. SVB had poor risk management and a narrow deposit base, with their customer base limited only to tech start-ups and tech companies. 

Inflation and a lack of venture capital funding created difficulties for SVB’s customers, resulting in an increase in customer withdrawals from their accounts. SVB was forced to begin selling its own assets, marking the beginning of its demise. The government intervened to protect depositors, insuring up to $250,000. 

What Does This Mean For Other Banks?

Bottom line, banks with a more diverse portfolio should not fear a similar situation to SVB, which had an extremely narrow customer base. Also, SVB only accounted for 0.91 percent of the total banking assets in the United States, which diminishes the nationwide financial impact. For banks across the country with more diversified customer bases, which accounts for a majority of banking institutions, this news should not cause panic. 

We completely understand the stress regarding the contagion of bank collapses, but we’re here to assure you that all is well for the banks that we serve, thanks to our comprehensive solutions designed to help financial institutions succeed. 

Tools Optimized For Your Bank 

Here at Celero, we’ve made it our business to go above and beyond in helping financial institutions achieve their goals and better serve their merchant customers. We offer a huge variety of customizable tools designed to suit your unique needs. Our cutting-edge solutions will help to strengthen your relationships with commercial clients, effectively increasing loyalty and engagement with merchants, as well as encouraging increased deposits. We’ll help you forge long-term, trusting partnerships with businesses in your area. 

For starters, Celero Compass is a collection of tools intended to assist our community bank partners in acquiring and expanding commercial relationships while increasing non-interest income. From in-depth merchant statement data and real-time reporting to lead management and automated boarding, Compass is your one-stop for customer relationship management. 

Our underwriting tool Celero Confirm is a critical component of Compass, which features frictionless merchant onboarding and lead management. Electronic payment systems move quickly, and risk can arise quickly. Confirm is an automated underwriting tool that not only keeps you nimble but also secure. You may underwrite most of your new merchant agreements quickly while complying with all card brands, sponsor banks, and industry regulators.

Additionally, we established our partner program with the sole purpose of helping community banks grow by expanding their fintech offerings and providing tools to optimize the customer experience. This fully customizable program helps banks achieve growth by focusing on commercial deposits, identifying and increasing fee income opportunities, acquiring new commercial accounts, and more. Growth and customer demand are essential, so we work alongside banks to curate their uniqueness within the banking industry. 

A Future of Hope and Prosperity With Celero 

We understand that with the proper equipment and support, you can accomplish anything. Celero wants to help improve your bank, even in times of uncertainty in the industry. Learn how we can help when you contact Celero today!