News & Insights

Please be advised that links within this article will take you to a website hosted by another party. Integro Bank assumes no liability for the content, information, security, policies, or transactions provided by these other sites. In this episode of The Modern Banker podcast, they delve into the world of innovative banking and entrepreneurship, gaining insights that transcend traditional banking models. Thomas shares his unique journey from a background in technology startups to founding a bank aimed at revolutionizing small business lending. Discover how his diverse experiences, including regulatory oversight and international work, shaped his approach to banking. Gain valuable perspectives on the importance of diversity in leadership and the power of technology in transforming banking services. Explore Thomas's vision for the future of banking, including the integration of cutting-edge tools like Integro360 to empower small businesses. Whether you're a seasoned banker, an aspiring ...

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An emergency fund is a critical component of financial health and stability. As reported by Bankrate 30% of U.S. adults have enough to cover up 6 months' expenses or more. Having an emergency fund serves as a safety net to protect you from unexpected expenses, job loss, or other unforeseen circumstances that could derail your financial plan. Building an adequate emergency fund can help you avoid taking on high-interest debt or depleting your retirement savings during tough times.

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Online banking has become an essential part of modern financial management. According to gitnux.org, online banking usage in the United States increased from 36% in 2005 to 73% in 2021. The advantages of online banking are multifaceted and include accessibility, cost savings, enhanced security, and environmental sustainability. As more people recognize the convenience, security, and financial insights that online banking offers, it has become an indispensable tool for managing personal finances effectively.

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A study by Lucidpress showed that consistent brand presentation across all platforms can increase revenue by up to 23%. Moreover, a survey conducted by Edelman revealed that 81% of consumers need to trust a brand before making a purchase decision. These statistics underscore the significance of a cohesive and trustworthy brand identity in driving business success.

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Phoenix, March 14, 2023 /PRNewswire/ --As the #1 fastest-growing bank in Arizona recording 625% loan growth in 2023* helping small businesses, Integro Bank is thrilled to announce its next upcoming exclusive event for the CEO Club. This event will provide a rare chance for local businesses to connect with a leader from a professional sports franchise. Our honored guest, Paul Rivers, the Chief Innovation Officer of the Phoenix Suns and Phoenix Mercury, will be present to share the hurdles and challenges that he encountered from early in his career to his current role with the organization.

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The 2022 Annual Business Survey (ABS) revealed that there were around 5.9 million employer firms in total. Out of these, 1.2 million (21%) were owned by minorities, 304,823 (5.2%) were owned by veterans, and approximately 1.3 million (22%) were owned by women. These businesses together generate over $1.8 trillion in revenue and employ 6.3 million workers. However, some minority-owned businesses are facing challenges that are holding back their growth. Bank of America's 2022 Women & Minority Business Owner Spotlight highlights that 46% of Women & Minority Business Owners have faced difficulties in accessing capital, among other challenges. Minority-owned businesses should remain vigilant and watch out for these challenges in 2024.

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It has been reported that the number of businesses owned by women has increased at nearly double the rate of those owned by men. According to the National Women's Business Council's (NWBC) 2023 Annual Report, women-owned firms are responsible for creating approximately half of all new businesses for the third consecutive year. As of 2023, the most recent statistics indicate that women own and operate 1.4 million enterprises with employees. As we celebrate Women's History Month and prepare for International Women's Day, it's essential to continue supporting women-owned small businesses.

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Further analysis by the Federal Reserve exposes a disparity: women seeking financial assistance are disproportionately less likely to have their loan requests approved compared to their male counterparts. The data is revealing - financial institutions reject 22% of business loan applications overall. However, when examining the gender breakdown, a troubling trend emerges. Female entrepreneurs bear the brunt of this rejection, facing an average refusal rate of 32%, while male entrepreneurs experience a notably lower rate of 19%.

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Certificates of deposit (CDs) are a top savings strategy for high earners that are easy to use and provide a competitive rate of growth. The difference between a CD account and a savings account is A savings account can be used for quick and easy access to funds for emergencies, vacations, and home or car repairs. CDs offer more interest for less accessibility, while savings accounts offer less interest for more flexibility. According to Lauren Perez a former writer at MagnifyMoney, 50% of Americans Find CDs Confusing.

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Women entrepreneurs continue to make significant progress in various industries. They have launched innovative startups, scaled successful businesses, and contributed significantly to economic growth. According to Luisa Zhou, women-owned businesses have grown by 114% in the last two decades. To sustain and accelerate this momentum even further, there are some potential strategies and advice that could help.

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