September/October 2026 WOMEN IN BANKING CONFERENCE a Tremendous Success OVER A CENTURY: BUILDING BETTER BANKS — Helping Coloradans Realize Dreams
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©2026 The Colorado Bankers Association (CBA) | MBR Connect™. All rights reserved. Colorado Banker is published six times per year and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of CBA, its board of directors or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. Colorado Banker is a collective work, and as such, some articles are submitted by authors who are independent of CBA. While a firstprint policy is encouraged, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at (801) 676-9722. Jenifer Waller President & CEO Alison Morgan Director of State Government Relations Max Haynes Director of State Government Relations Brandon Knudtson CFO & Director of Membership Lindsay Muniz Vice President of Education and Communications Megan Carruth Executive Assistant Margie Mellenbruch Bookkeeper* Melanie Layton Lobbyist* Garin Vorthmann Lobbyist* Caroline Woodhouse Lobbyist* Michael McReynolds Lobbyist* *Outsourced 140 E. 19th Ave., Ste. 400 Denver, Colorado 80203 Office: (303) 825-1575 coloradobankers.org colorado-banker.thenewslinkgroup.org BUILDING BETTER BANKS — Helping Coloradans Realize Dreams 6 18 2026-2027 Issue 2 4 PRESIDENT’S MESSAGE Keep Payments Innovative and Community Lending Strong By Jenifer Waller, CEO, Colorado Bankers Association 6 2026 Women in Banking Conference a Tremendous Success 8 Four Questions Every Community Bank Should Ask About AI By Kurt Leeper, Partner, Otteson Shapiro LLP 10 How Lenders Can Use the SBA Program for Their Manufacturing Clients By Christopher Myers, CEO, B:Side Capital and B:Side Fund 11 What to Know About Deposit Accounts Involving Minors By Natalie Straus, CRCM, Director, Forvis Mazars 12 CBA Centerpoint Going Beyond the Desk to Hear the Stories of Colorado Bankers 15 Implementing a New Loan Origination System What Banks Need to Know By Abrigo 18 From Scramble to Strategy: Using AI the Right Way in Compliance By Stephanie Lyon, Ncontracts 20 Why Bank Customers Are Being Targeted Again The Long Tail of PPP By Jeff Otteson and Adam Dawson, Midwest Bankers Insurance Services 22 When More Choice Stops Feeling Like Progress By Amanda Marshall, Vice President of Marketing, ADVANTAGE 23 Alison Morgan Receives CBA’s Golden Hammer Award Honored for Outstanding Legislative Advocacy 3 Colorado Banker
PRESIDENT’S MESSAGE If you follow financial markets, you have probably heard plenty about stablecoins and perhaps assumed they have little relevance to Colorado communities. Yet, how stablecoins are utilized and regulated could have significant consequences for consumers, small businesses and local economies across our state. First, a quick explanation: A stablecoin is a digital token designed to maintain a stable value (typically one U.S. dollar). In practical terms, it functions as a digital payment instrument that can make moving money online faster and easier. That potential is worth embracing. Traditional payment systems can be slow and cumbersome, and stablecoins could offer consumers and businesses another efficient way to transact. But innovation must come with appropriate safeguards, particularly when new financial products begin to resemble traditional banking products. Congress recognized that challenge when it passed the GENIUS Act, establishing a federal framework intended to bring payment stablecoins into the financial mainstream under clear rules. One provision is especially important: Stablecoin issuers cannot pay consumers interest simply for holding their tokens. That distinction was intentional. Stablecoins were designed and regulated as payment tools — not deposit accounts. Why does that matter? Money deposited in a bank does more than sit in an account. Deposits provide the foundation for lending. Banks use those funds to extend credit to families buying homes, entrepreneurs starting businesses, farmers purchasing equipment and companies expanding and creating jobs. Deposits fuel a cycle in which local dollars are put back to work in local communities. Stablecoins serve a different purpose. Their value lies primarily in facilitating payments, not generating the lending activity that supports broader economic growth. Yet some stablecoin companies and affiliated platforms have explored offering consumers “rewards” or similar payments for holding stablecoins. Whatever those payments are called, they can look very much like interest to consumers. They may encourage people to move money out of insured bank deposits and into token-based products that do not operate under the same regulatory framework or provide the same protections as bank accounts. That creates consequences far beyond the digital-asset market. If significant amounts of money move from bank deposits into stablecoins, banks have fewer deposits available to support lending. National estimates suggest such a shift could move trillions of dollars away from traditional bank deposits. Here in Colorado, estimates indicate that using stablecoins as a substitute for deposits rather than primarily as a payment tool could reduce lending capacity by approximately $2.3 billion to $4.6 billion. Those are not simply numbers on a balance sheet. Reduced lending capacity can mean higher borrowing costs and less access to credit for Colorado families, farmers and small businesses. Our concern is not about resisting innovation. Banks have embraced financial technology for decades, from online and mobile banking to instant payments. Innovation that gives consumers better, faster and safer ways to manage their money is good for our industry and our customers. By Jenifer Waller, CEO, Colorado Bankers Association Keep Payments Innovative and Community Lending Strong Colorado Banker 4
But innovation works best when the rules are clear and the playing field is fair. That is why bankers across the country have asked Congress for a straightforward clarification: The prohibition on paying interest for holding stablecoins should apply regardless of who makes the payment. An issuer should not be able to accomplish indirectly through an affiliate or partner what it is prohibited from doing directly. During debate over the CLARITY Act, Congress’ sister bill to the GENIUS Act, proponents offered the banking industry an amendment intended to address these concerns. Under that proposal, regulators could act after five years if evidence showed that stablecoin rewards had harmed community banks. That approach gets the sequence backward. Waiting five years to determine whether harm has occurred means communities could spend five years experiencing that harm. By then, deposits could already have migrated away from local institutions, lending capacity could already have declined, and small businesses and consumers could already have faced reduced access to credit. Ultimately, the amendment was not included in the bill. The CLARITY Act subsequently failed to advance in a September procedural vote. Although many lawmakers understand the banking industry’s concerns, the legislation also raised broader issues that complicated its path forward. So where do we go from here? The GENIUS Act is already law, including its prohibition on stablecoin issuers paying interest. Meanwhile, federal regulators are moving forward with rules to implement the new framework. Treasury Secretary Scott Bessent has indicated that Treasury is proceeding with GENIUS Act rulemaking, and federal banking regulators are also working on stablecoin-related regulations. That regulatory process now represents an important opportunity. Rules governing rewards and similar incentives can help ensure that stablecoins remain what Congress intended them to be: innovative payment tools. At the same time, those rules can prevent stablecoins from becoming de facto deposit products that draw funding away from the lending system without assuming the responsibilities that come with traditional banking. There is room for both innovation and a strong banking system. We should not have to choose between faster payments and accessible community credit. As regulators release proposed rules, it will be critically important for bankers to participate in the public comment process. Policymakers need to understand what changes in deposit flows mean on the ground — not only for financial institutions, but for the customers, businesses and communities those institutions serve. The Colorado Bankers Association will continue advocating for a regulatory framework that encourages responsible payment innovation while preserving banks’ ability to meet the credit needs of their communities. Stablecoins can have an important place in the future of payments. The goal should be to make sure they strengthen our financial system rather than unintentionally weaken the community lending that helps Colorado grow. 5 Colorado Banker
We’re still buzzing from another outstanding Women in Banking Conference! Over two inspiring days in Steamboat Springs, banking professionals from across Colorado came together to learn, connect and celebrate the remarkable women making an impact in our industry. This year’s conference offered a great mix of timely banking and regulatory topics, leadership development, community engagement, networking and plenty of fun along the way. Attendees kicked off the conference with a regulatory update from Colorado Banking Commissioner Kara Hunter, followed by thought-provoking sessions on artificial intelligence and regulatory compliance, the economic outlook, stablecoins and digital assets, and modern cyber risk management. The afternoon continued with an important conversation about how women leaders can help build survivor-safe, trauma-informed banking environments. The conference also provided plenty of opportunities to connect outside of the traditional classroom setting. From a hands-on networking activity and bingo to the evening reception, attendees had time to build relationships, share ideas and enjoy some fun together. 2026 Women in Banking Conference a Tremendous Success Colorado Banker 6
Giving back was another important part of this year’s conference. Attendees supported the United Way of the Yampa Valley through a Community Baby Shower, donating much-needed items including diapers, wipes and diaper cream. A special highlight was recognizing our inaugural BankHer Award recipients. Congratulations to Niki Stotler, President and CEO of High Country Bank, and Mary Ryerson, Branch President of Alpine Bank – Aspen, on this well-deserved recognition of their exceptional leadership, service and commitment to Colorado’s banking industry. We were honored to have Colorado Banking Commissioner Kara Hunter join us to celebrate these outstanding leaders. Day two continued with an optional group walk, breakfast, and a legislative and regulatory update from Jenifer Waller with assistance from Jennifer Luce from PNC Bank, covering a recap of the 2026 legislative session, a look ahead to 2027, and federal banking issues. Attendees then heard from BankHer Award recipient Mary Ryerson during a fireside chat focused on the importance of community involvement, followed by a session on workplace conflict. A sincere thank you to our outstanding speakers for sharing their expertise, experiences and insights, and to our generous sponsors whose support helped make this event possible. Most importantly, thank you to everyone who attended and brought such incredible energy, enthusiasm, and collaboration to the 2026 Women in Banking Conference. We’re excited to build on this momentum and look forward to seeing everyone again next year! The conference will be held Aug. 12-13 in Beaver Creek, Colorado. BankHer Award recipient Mary Ryerson BankHer Award recipient Niki Stotler
Who? Who at the bank is responsible for the bank’s approach to AI? Without a person or group responsible for AI use within the bank, it is impossible to develop a coherent and consistent approach. Is it the board? A board committee? The CEO? While there is no single right answer, the board retains ultimate responsibility for the bank’s direction. Formally assigning responsibility to one or more people within the organization is foundational to ensuring that the bank’s approach to AI is guided by what is best for the institution and its stakeholders — not by whatever AI-related noise is loudest on any given day. What? What is the bank’s policy on AI use? Even if a bank does not have a formal policy in place, it is almost certain that employees are using AI at home, on their phones and likely at work. While AI offers numerous benefits, it also presents significant risks, including the possibility of entering sensitive or confidential information into a public model. A clear AI use policy helps ensure employees use AI in ways that do not expose the bank to unnecessary risk. How? How does the bank plan to use AI? More specifically, what is the bank’s strategic plan for AI? Does the bank intend to be proactive or reactive? Will AI implementation focus on evolutionary improvements to operations or a more revolutionary redesign of the enterprise? There are obvious use cases, such as BSA/AML compliance and fraud detection, but what about opportunities to scale the bank without meaningfully increasing overhead? Four Questions Every Community Bank Should Ask About AI By Kurt Leeper, Partner, Otteson Shapiro LLP The headlines are constant and ubiquitous. Depending on the publication or post, one can walk away believing AI will either revolutionize banking or create an existential threat to the industry. Will AI-enabled efficiencies make 30% efficiency ratios possible? Or will agentic AI trigger massive deposit outflows as autonomous agents race to the institution offering the highest rate? With so much noise surrounding AI — much of it generated by AI itself — it can be difficult for community bankers to know where to begin. This article does not recommend a particular AI model or explain how to implement AI to grow a bank. Instead, it offers a practical framework for evaluating AI in a way that is useful and actionable for your institution. It begins with four simple questions: Who? What? How? When?
When? When should the bank begin asking these questions and considering what AI adoption might look like? Speaking recently on banks’ use of AI, former Acting Comptroller of the Currency Michael Hsu — not someone known for encouraging banks to take cavalier risks — observed that AI is one of the rare technologies for which the risk of falling behind may be at least as great as the risk of moving too quickly. Hsu is not alone in that view. Accordingly, the right time to begin thinking about AI in a deliberate and strategic manner is now. A bank does not need to be first in line to subscribe to Anthropic’s latest cutting-edge model, but the greatest AI-related risk many banks face today is failing to answer the first three questions and, as a result, doing nothing at all. Conclusion As banks begin answering those questions, they do not have to do so without guidance. In February, the U.S. Department of the Treasury, in collaboration with the Cyber Risk Institute and several financial institutions, released the Financial Services AI Risk Management Framework. The framework is currently the federal government’s primary AI resource developed specifically for financial institutions and is intended to help banks evaluate AI adoption, identify risks and implement appropriate controls. It provides a practical tool for institutions seeking to develop a thoughtful, risk-based approach to AI. To access the Financial Services AI Risk Management Framework, scan the QR code. https://cyberriskinstitute.org/ artificial-intelligence-riskmanagement/ The flood of AI-related headlines is unlikely to subside anytime soon. By asking four simple questions — who, what, how and when — community bankers can cut through the noise, approach AI strategically and position their institutions to benefit from the technology, rather than allowing a more nimble competitor to answer those questions first. Kurt Leeper is a partner with Otteson Shapiro LLP in the firm’s Denver office. He represents financial institutions in corporate and securities matters, mergers and acquisitions, regulatory compliance and corporate governance. He regularly advises community banks on strategic transactions, capital raising and evolving regulatory issues, including emerging technologies affecting the banking industry. Earlier in his career, he represented the Securities Investor Protection Corporation in recovery efforts related to the Bernie Madoff Ponzi scheme. He is a Certified Information Privacy Professional for both the United States (CIPP/US) and Europe (CIPP/E). YOUR DEBT PORTFOLIO MAY NOT BE KEPT IN HERE, BUT IT’S STILL AN ASSET They may not be currency, but debt portfolios which include credit card, auto deficiency, overdraft, judgements or commercial and consumer loans definitely have value. We’ll buy your debt portfolio from the last four years, with minimum sizes of $100k on at least ten accounts and no maximums. We’ll even walk you through the sales process to help with compliance and data integrity. To offload your debt portfolio, contact Craig Geisler at cgeisler@cherrywoodenterprises.com or (321) 247-5066. 9 Colorado Banker
How Lenders Can Use the SBA Program for Their Manufacturing Clients By Christopher Myers, CEO, B:Side Capital and B:Side Fund If you lend to manufacturers, you already know the tension. These are exactly the clients you want: real assets, real revenue, real staying power. They are also the clients whose needs can strain a conventional credit box. The equipment is expensive and specific. The working capital need arrives in lumps, usually right when the biggest order in company history lands. Growth outruns the balance sheet, and you are left choosing between stretching policy and watching a 20-year relationship walk to a larger institution. This year, two changes at the SBA rewired that math. 504 Rules Give Manufacturers More Flexibility The $5.5 million manufacturing provision is not new. Small manufacturers have long been eligible for up to $5.5 million in SBA 504 debenture financing for a qualifying project, and SBA has allowed multiple 504 loans when each loan is tied to a distinct project. What changed July 4 is the relationship between the 7(a) and 504 programs; a borrower’s 7(a) balance no longer reduces the maximum 504 financing available, allowing eligible borrowers to access up to $5 million through 7(a) and up to $5 million through 504, subject to each program’s requirements and limits. SBA also clarified that a 504 project may include multiple eligible assets that are financed simultaneously. For small manufacturers, that can be particularly useful when an expansion involves more than one major fixed asset — for example, purchasing a facility while also acquiring a production line. Rather than treating this as a single project, the clarification provides greater flexibility to structure it as two 504 projects, allowing up to $5.5 million for each. Zero Fees, But the Clock Is Ticking For fiscal year 2026, as part of its Made in America push, the SBA waived both the upfront guaranty fee and the annual service fee on SBA 504 loans to small manufacturers (NAICS Sectors 31 through 33) and eliminated the upfront fee on SBA 7(a) manufacturing loans of $950,000 or less. On a $2.5 million facility purchase, that is roughly $5,000 saved at closing and about $37,400 saved over the life of the loan. The oldest objection in SBA lending is that the fees make it expensive. For manufacturers this year, that objection does not exist. And here’s the part that matters for your pipeline: The current fee waiver is scheduled to run through fiscal year 2027. We don’t yet know what SBA’s fee structure will look like after that, so manufacturers with projects in the pipeline may want to take advantage of the current program while these savings are available. The Structure Works as Hard for You as It Does for Them None of this requires charity from your credit committee. On an SBA 504 project, your institution holds a first lien at roughly 50% loan-to-value on collateral that would otherwise give policy fits, the client puts down as little as 10%, and the debenture covers the rest at a long fixed rate — 25-year or 20-year terms on real estate and 10-year terms on equipment to match the life of the assets, instead of fighting it. On the SBA 7(a) side, the guaranty covers the ground conventional underwriting cannot reach: projection-based expansion and the working capital that turns new capacity into filled orders. You keep the deposits, the treasury business and the relationship. Manufacturers are being asked to grow faster than their balance sheets allow, and, for once, Washington has made financing easier rather than harder. Neither change should be treated as permanent. The fee waiver has a hard deadline; the expanded limit is policy, and policy moves. The lenders who act while the window is open will own these relationships for decades. That is where we come in. Bring us the deal early and B:Side Capital will handle the SBA mechanics alongside you, providing eligibility, structure and a speedy timeline. Reach out to our team to talk through your next manufacturing deal by emailing client-relations@bside.org or calling (303) 657-0010. Colorado Banker 10
WHAT TO KNOW About Deposit Accounts Involving Minors By Natalie Straus, CRCM, Director, Forvis Mazars Financial institutions face a series of challenges and restrictions when establishing deposit accounts involving minors. Consideration of the benefits and limitations associated with various account types may help ensure customer satisfaction and institution compliance. Learn about the minor account types that are the most offered and their nuances in the following. Uniform Transfer to Minors Act Accounts These accounts are opened in accordance with state-specific statutes, but the overarching principles are generally consistent. A deposit into this account type creates an irrevocable gift to the minor. This means that ownership of funds is fully transferred to a minor customer. However, transaction authority will reside with an adult custodian. The custodian manages the account for the benefit of the minor. This dynamic often leads to operational confusion. However, the institution’s contract is with the adult custodian. Thus, the adult custodian is the only one with transaction authority. The minor is prohibited from accessing the funds or the account in any capacity. It is the responsibility of the adult custodian (and not the financial institution) to distribute the funds in accordance with state law when the minor reaches the age of majority. Minor Accounts Most states have statutes specifically permitting the establishment of a deposit account in the name of a minor. There is typically no requirement that an adult be associated with the account. The account operates in the same way as a single-party account held by an adult when it is opened in the name of a minor. This means that the minor is the owner of the funds and maintains full transaction authority. It is important to recognize that this account arrangement does not give transaction authority to an adult (even if they are a parent). In addition, state law may limit an institution’s ability to recoup a loss in connection with an overdrawn or charged off account owned by a minor. These risks and limitations should be taken into consideration when determining whether to offer minor accounts. Joint Accounts With a Minor and an Adult Many institutions believe that the most prudent approach to minor accounts is a joint account with an adult owner and a minor owner. The adult and minor are equal owners on the account. Therefore, they have equal transaction authority, and the minor has full access to the funds. The funds are also not protected for the benefit of the minor. Funds on deposit in joint accounts may be subject to garnishment orders or other debt instruments, even if the adult incurred the debt. How Forvis Mazars Can Help Based on this overview, institutions should consider various account features and limitations when establishing a minor accounts policy. In addition, seeking support from local counsel or a third party, such as ProBank Education Services at Forvis Mazars, can help with understanding these accounts. Our services include compliance seminars, webinars and in-house training courses specifically designed for accountants, branch managers, Bank Secrecy Act (BSA) officers, compliance officers, customer service, executive management, loan processors, mortgage brokers, new accounts personnel, operations officers, risk management and directors. For more information on our offerings, please reach out to a professional at Forvis Mazars at forvismazars.us/contact-us. K. Natalie Straus, CRCM, is a director at Forvis Mazars in the ProBank Education Services division. Since entering the financial services industry in 2011, she has focused on helping financial institutions navigate complex regulatory requirements through practical compliance education and training. Her primary areas of expertise include deposit compliance, deposit documentation and account administration, Individual Retirement Account (IRA) rules and Home Mortgage Disclosure Act (HMDA) requirements. Natalie presents programs for financial institutions, banking associations and industry conferences across the country, providing insight into regulatory developments and compliance best practices. 11 Colorado Banker
Centerpoint Todd Benson Senior Director, Community Manager FNBO How’d you get started in the banking industry? I’ve been in banking for more than 20 years, working my way through both retail and commercial lending before landing where I am today. What kept me in it was realizing early on that banking, done right, is really about helping people build something — a business, a piece of equipment, a building — and being part of that story alongside them. What do you like to do to give back to the community, either personally or as a bank representative? Northern Colorado is more than just my market. It’s the place where I grew up and have personal roots, so working doesn’t feel like work; it feels like showing up for the community. I spend a lot of time connecting with local businesses, not just to build relationships but because I genuinely want to see them succeed. I’ve served on many boards over the years and currently sit on the Upstate Colorado Economic Development board. What is the most rewarding aspect of your job? Hands down, it’s helping a business owner close on financing that helps them grow — whether that’s an SBA loan, a new building or helping clients manage their cash flow. Commercial banking can be complicated, and walking someone through that process to a “yes” never gets old. What do you geek out about? Old cars. I’ve got a 1962 Impala, and my son has a 1974 Blazer that we’ve done a lot of work on. There’s something satisfying about diagnosing a problem (and I have plenty of them!) on a 60-year-old machine. It’s not dissimilar from underwriting a loan; you’re troubleshooting, working with limited information and trying to get to the right answer. When I’m not under the hood, I prefer to be traveling or hanging out with the family at kids’ sporting events and the lake! Dan Connell Director of Credit Analysis First Interstate Bank How did you get started in the banking industry? My career in banking started in the management trainee program at a local bank here in Colorado. I had just finished graduate school, was working on a construction crew, and I knew I wanted to work in banking in some capacity. The world was just coming out of the Great Recession at that time, and when I was offered the position, I jumped at it. Since that point, I’ve had a winding path through a variety of functions at several different institutions, including business development, credit review, treasury/ALM and my current role directing enterprise complex credit analysis. What makes your bank unique? What I love about First Interstate Bank is that we sit at a unique inflection point where we can offer the best of two worlds: the scale to handle complex relationships and the local orientation to maintain what makes community banks special. Our focus on building strong relationships within the communities we serve is paramount, but we’re also able to play in a larger sandbox. What is the most important thing you’ve learned from a career in banking? The most important thing I’ve learned in banking is also the most important thing I’ve learned about leadership: The success of your people and the culture you establish is everything. As a leader, I judge my success and effectiveness exclusively through the lens of the success of the individuals within my organization and the type of culture we create together. What do you geek out about? I spend a tremendous amount of my free time reading. My favorite books tend to be autobiographies and biographies of individuals from different walks of life. I find it fascinating to learn about the environment, circumstances and decisions that shape who people become and the perspectives they hold. I recently finished “All That’s Unseen: An Appalachian Memoir” by Emilee Hackney. It chronicles the author’s journey from her upbringing in southwest Virginia to her time at Harvard University and the collision of two very different worlds. CBA Colorado Banker 12
GOING BEYOND THE DESK TO HEAR THE STORIES OF COLORADO BANKERS Kari Coover SVP, Colorado Regional President Sunwest Bank What makes Sunwest Bank unique? Sunwest Bank combines the capabilities of a larger financial institution with the entrepreneurial spirit and relationship-driven approach of a community bank. We empower our bankers to truly know their clients and find creative solutions. What I love most is our culture — we value hard work, collaboration, accountability and doing what’s right for our clients and communities. Sunwest Bank was built for entrepreneurs by entrepreneurs; it doesn’t get any better than that! What do you like to do to give back to the community, personally or as a bank representative? Giving back has always been important to me, both personally and professionally. I’m fortunate to serve on the boards of the AdventHealth Foundation and PGA REACH, while also staying actively involved with organizations throughout Colorado. I especially enjoy opportunities to connect people, support organizations doing meaningful work, and leverage my banking relationships to strengthen the communities we serve. What are you most proud of in your professional life so far? I’m most proud of the journey. I started in banking as a part-time teller and have been incredibly fortunate to learn from amazing mentors — some who are still in the industry and others who have since retired — nearly every step of the way. Their investment in me helped shape the banker and leader I am today. Now I’m able to mentor, develop and create opportunities for the next generation of Colorado bankers, which is incredibly rewarding. I’m proud to pass on what others so generously gave to me. What do you listen to on your morning commute? The soundtrack to my commute depends on the day. Sometimes it’s music to get me energized, sometimes a podcast and sometimes absolutely nothing! A quiet drive and a cup of coffee can be the perfect way to think through the day ahead. What do you geek out about? People, business and bringing ideas to life. I can easily geek out over a great business concept, a challenging deal, or connecting the right people and watching something great come together. Elizabeth Kretz SVP, Retail Market Sales Manager Vectra Bank How did you get started in the banking industry? I started my banking career in 2000 as a teller with UMB Bank and quickly discovered that I enjoyed helping people achieve their financial goals. What began as an entry-level position turned into a passion for leadership, relationship building and helping both clients and employees grow. Over the last 25+ years, I’ve advanced through roles including lead teller, assistant branch manager, branch manager, credit product liaison and now retail market sales manager. Each role has given me opportunities to learn new aspects of banking while developing strong teams and lasting client relationships. What is the most rewarding aspect of your job? The most rewarding part of my job is helping people succeed. That includes helping clients find financial solutions that improve their lives and helping employees develop their careers. As a leader overseeing multiple branches, I enjoy coaching team members, watching them build confidence and seeing them achieve goals they once thought were out of reach. Celebrating their successes is just as meaningful to me as achieving business results. What are you most proud of in your professional life so far? I am most proud of the long-term impact I’ve made through leadership and performance. Throughout my career, I’ve been fortunate to receive recognition such as Vectra ProClub awards, Circle of Excellence awards, MVP, Partner of the Year and Branch of the Year honors. While those achievements are meaningful, what I’m most proud of is building strong teams, developing future leaders and creating lasting relationships with clients and communities across Colorado. Tell us something about yourself that most people don’t know. Something many people don’t know about me is that I earned an associate degree in massage therapy and applied science while building my banking career. Although banking was already my focus, I pursued the degree because I enjoy learning and understanding how to help people. The experience reinforced the importance of listening, building trust and understanding individual needs — skills that have been invaluable throughout my career in banking and leadership. 13 Colorado Banker
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Implementing a New Loan Origination System What Banks Need to Know By Abrigo If your financial institution is replacing your loan origination system (LOS), understanding the planning process before implementation begins can make the transition more manageable. After all, for many financial institutions, implementing a loan origination system is unfamiliar territory. The current system may have been in place for years, with workflows, workarounds and reporting habits built around it over time. As a result, leaders who begin exploring a legacy LOS replacement usually have the same questions: What will the process look like? How difficult is it? What has to happen before implementation starts? How do we make sure the new system improves lending operations in a meaningful way? “The biggest obstacle for implementing new technology is often getting people to embrace, adopt and use it,” says Bailey Barretto, director of advisory services at Abrigo and a change-management expert. Sharing information about what’s involved in replacing an LOS will create better buy-in from everyone the system touches: lending, credit, operations, compliance and even the borrower. The timeline for replacing a loan origination system varies by institution size, workflow complexity, data quality, integrations and internal decision-making capacity. But replacing loan origination software usually requires five planning priorities: defining the outcomes the institution wants to improve, mapping current lending workflows, preparing data 15 Colorado Banker
and integrations, understanding implementation steps and planning for user adoption. The institutions that prepare thoughtfully usually find the process manageable and the results worth the effort. An experienced LOS software partner should be able to help you in each area as you plan. 1. Start With the Outcomes You Want to Improve For many banks, replacing loan origination software is less about swapping systems and more about improving how lending work moves across teams. For the best results in a loan origination system replacement, begin with a business question rather than a list of software features. Define what the institution is trying to improve before evaluating loan origination systems or specific vendors. Why is the bank or credit union considering changing the LOS? Lending teams may be dealing with slow approvals, duplicate data entry, inconsistent credit memos, limited visibility into pipeline activity, or overreliance on spreadsheets and email. Leadership may be looking for stronger reporting, cleaner audit trails, better borrower service or a more consistent lending experience that promotes growth. Useful questions include: • Where does the current process slow down? • Which tasks take the most staff time? • Which manual steps create the most frustration? • What reporting or compliance gaps are the most visible? • What would better look like from a lender’s perspective, a credit officer’s perspective and a borrower’s perspective? From there, define a small set of measurable goals. Examples might include shorter approval times, fewer manual touchpoints, more consistent documentation or better visibility into loan pipelines. Those goals give the implementation team a clear target and help keep the project focused on results. 2. Identify How Lending Really Works Today Over time, lending workflows tend to accumulate exceptions. A team creates a spreadsheet to bridge a gap. A credit memo gets prepared outside the system. A document is routed by email because it is faster in the moment. Those workarounds solve immediate problems, but they also make the overall process harder to manage. Replacing an LOS creates a useful opportunity to examine how the institution actually processes loans — from the first conversation through approval and closing. This examination can help with implementation planning and optimization of team efforts. Before implementing modern loan origination technology, map the current-state workflow in detail. Questions worth asking include: • Where do deals leave the LOS? • Where is information entered twice? • How are credit memos prepared? • Which approvals create bottlenecks? • Which steps depend on email, spreadsheets or shared drives? • Where do lenders spend time that adds little value for borrowers or staff? These questions may reveal process improvements that belong in the new system design. The goal is to understand where the institution is starting so the new LOS can support a simpler, more consistent future state. 3. Prepare the Data and Integrations Early Data migration is one of the most important parts of a loan origination system transition. Start by deciding what needs to move and what can remain archived. Active loans usually need to migrate. Historical records may need to stay available for audit, servicing or research purposes. Loan pipeline data may require special handling to ensure users do not lose visibility during the transition. Useful questions include: • Which records should move into the new LOS? • Which historical files should remain archived? • How will staff access older loan records when needed? • What cleanup is required before migration? • How will open deals be handled during the transition? Integrations deserve the same early attention. Most lending teams rely on several systems in addition to the LOS. Common integrations include: • Core processing systems • Document preparation software • eSignature tools • Loan boarding software • Imaging or document management platforms The implementation team should understand those connections early. That helps prevent duplicate work and supports workflows that feel natural to the people using them every day. A loan origination system replacement is a significant investment of time, resources and leadership attention. It also creates an opportunity to improve how lending is done across the institution. Colorado Banker 16
4. Understand What’s Involved With LOS Implementation For many institutions, implementation is the part of the project that feels least familiar. That makes clarity especially valuable. A good implementation usually includes a series of steps that build on one another: • Discovery and requirements gathering • Workflow design • Configuration • Data migration planning and testing • Integration setup and validation • User acceptance testing • Training and role-based preparation • Go-live support • Post-launch optimization Each step is vital to implementation. Discovery helps the team understand what the institution needs. Workflow design translates that understanding into a practical structure. Testing exposes issues before they affect users. Training helps staff feel comfortable when the new system goes live. Leaders should also involve vendor management, information security, compliance and other risk stakeholders early enough to support the institution’s third-party risk management expectations without slowing the project later. A few practical questions can help leaders prepare: • Who will own the project internally? • Which teams should participate in design and testing? • How much time will frontline users need before go-live? • What decisions need to be made early to avoid rework later? • What does success look like at 30, 60 and 90 days after launch? Institutions that answer those questions early usually have a smoother experience implementing new software for originating loans. 5. Plan for Adoption Before Going Live A new LOS creates value when people use it well, so adoption should begin before launch and continue afterward. Training helps, of course, as does communication, sponsorship and ongoing support. Leaders who involve lenders, credit staff, operations teams and compliance early often see stronger results because the system reflects how the institution actually works. A thoughtful adoption plan often includes: • Role-based training for different user groups • Internal champions who can answer questions • Clear expectations from leadership • Measurable adoption metrics after launch • Ongoing education as workflows and products evolve The most helpful software providers will focus on increasing software adoption, boosting ROI and helping institutions realize the benefits of their technology investments. Whether through change management services, responsive customer service or ongoing training, a helpful software partner continues to support the replacement after go-live as users become more comfortable with the new system. How can leaders measure progress in practical terms? Here are some examples of questions to consider: • What percentage of loans are being processed in the LOS? • Are lenders using the system consistently? • Have manual workarounds declined? • Are approvals moving faster? • Is documentation more consistent? • Are users finding the system easier to work in? Identifying practical key performance indicators helps leaders see whether the transition is delivering the expected value. Pre-Replacement Checklist Understanding what happens during an LOS replacement can help financial institutions get the full value from the effort. Answering the following straightforward questions will make the process smoother: • Have we defined the business outcomes we want to improve? • Do we understand the current lending process well enough to redesign it? • Have we identified the data that needs to be migrated? • Do we know which systems must integrate with the new LOS? • Have we planned for implementation roles, testing and training? • Have we mapped out how adoption will be supported after go-live? If the answer to any of those questions is uncertain, the institution has found a useful planning area. Replacing an LOS is a Process Improvement Opportunity A loan origination system replacement is a significant investment of time, resources and leadership attention. It also creates an opportunity to improve how lending is done across the institution. Every loan origination system implementation follows its own timeline, but the most successful projects begin with clear goals, a realistic view of current processes, early attention to data and integrations, a practical implementation plan and a thoughtful approach to adoption. That combination helps the institution move through the transition with greater confidence. Replacing an LOS is unfamiliar territory for most financial institutions. With experienced partners and thoughtful planning, institutions will understand what to expect and how to keep the project aligned with the outcomes that matter most. Replacing your loan origination system can be manageable and strengthen lending operations for years to come. 17 Colorado Banker
From SCRAMBLE to STRATEGY: Using AI the Right Way in Compliance By Stephanie Lyon, Ncontracts AI is giving compliance officers a rare commodity: time to get ahead of risk instead of chasing it. Regulations change, complaint patterns emerge, and examiners still ask questions you didn’t see coming, but the right AI tools can help turn those challenges into a concrete plan. That starts with understanding the gaps AI can fill, ensuring human oversight, and using the right AI tools for the right job. Where the Reactive Pattern Comes From According to the Ncontracts 2026 Future of Compliance Survey, nearly 40% of financial institutions run compliance with just one or two people. While team size doesn’t necessarily dictate whether a program is proactive or reactive, it does determine how an organization spends its time and attention. That resourcing gap shows up in complaint data, too. While complaints are called a regulator’s “lifeblood,” patterns that are buried and go undiscovered prevent institutions from identifying emerging risk before it turns into widespread harm. When there’s no time to analyze complaints, they get closed without review, policy violations go unchecked, and the root cause never gets exposed. What’s left is a pile of isolated incidents instead of a clear, actionable signal. The regulatory landscape doesn’t wait for bandwidth to catch up. New regulations, laws and guidance pile up faster than a Colorado Banker 18
single person can track. Without a first line that fully owns its role in the Three Lines Model, compliance ends up absorbing everything that wasn’t caught upstream. None of this is a failure of effort. It’s a capacity problem: There’s too much regulatory surface area, and not enough hours to cover it manually. What Changes When AI Takes on Busywork Research, tracking and documentation aren’t optional, but they don’t have to consume all of compliance’s time either. AI is making it possible to keep pace with even the most dynamic regulatory environments. When research moves faster and regulatory tracking is automated, compliance officers get back time to build relationships and be in the room where and when decisions are made, acting as advisors and influencing decisions. The data backs this up. Institutions using automated compliance tools report four times higher satisfaction with compliance’s role in strategic planning than their manual-process peers. That efficiency gain creates space for more strategic work. AI adoption in compliance is still early, however. A third of financial organizations report no AI use at all, and only 2% have implemented it broadly. For teams still running compliance through spreadsheets and email, the opportunity is significant. General-Purpose vs. Purpose-Built AI The best use of AI in compliance programs starts with matching the tool to the task. General-purpose AI works well as a sparring partner when a compliance officer can evaluate responses quickly based on experience and knowledge. Tasks such as pressure-testing an argument, drafting a first pass at board communications or anticipating questions before a leadership conversation are sped up using these AI tools. But it is important that there is someone to verify the output. That check becomes essential once the task shifts to regulatory specifics, since general-purpose models are trained on broad public data rather than the details that separate one regulation from another. The difference between a “credit card” and a “debit card,” for example, determines which set of regulations applies, and catching that distinction takes context that a general-purpose model doesn’t always apply or have. Purpose-built compliance AI is built for a different job. Rather than predicting a statistically likely answer from general internet data, it draws from curated, current regulatory content and surfaces its sources with every response. That traceability makes an output verifiable, creating a path from question to answer to the human confirmation, which is exactly what an examiner will eventually ask to see. Where Human Oversight Comes In Judgment doesn’t disappear when AI takes on more of the work. It moves to where it counts most: deciding whether a policy addresses the risk it’s meant to. That’s what human oversight means. It’s the expertise that catches what a model misses and stands behind what it gets right. It’s also the real shift from scramble to strategy: less time spent catching up to yesterday’s risk and more time spent making the calls that only a compliance officer can make. Ncontracts empowers banks, credit unions, mortgage companies, fintechs and wealth management firms to confidently manage risk — including enterprise, compliance and third-party risk — in a complex, rapidly changing financial landscape. Our integrated suite of cloud-based solutions combines deep industry expertise, powerful technology and rich data to help organizations strengthen governance, protect operations and identify opportunities for growth. Today, nearly 5,000 financial services organizations trust Ncontracts to make risk and compliance management a strategic advantage. Ncontracts was named to the Inc. 5000 fastest-growing private companies in America for the eighth consecutive year in 2026. Visit ncontracts.com or follow the company on LinkedIn and X for more information. 19 Colorado Banker
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