Wed.Feb 17, 2021

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Success Criteria for an Effective Sales Enablement Program

Perficient

Previously , I discussed the role of sales enablement in investment management. This blog analyzes how technology and the right team can improve your sales enablement program. For a sales enablement program to be successful at its launch and continue to be effective over time, it has to have the right mix of technology tools, and cross-functional teams.

Training 340
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Overcoming Loan Growth Challenges in 2021

South State Correspondent

January is typically a slow month for loan production at community banks, and the pandemic-hampered economy made the month even more challenging for many banks. The data from the Federal Reserve’s H.8 report showed that all loans were essentially flat in January for banks.

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VMware Tanzu: Highlights of the Basic Edition

Perficient

Built on VMware Tanzu Application Service, VMware Tanzu allows organizations to build modernized applications with speed, simplicity, high availability, and control. VMware offers three VMware Tanzu editions to support your organization at any point in your application modernization journey. In this blog, we will focus on the capabilities of Tanzu Basic, but future blogs will explore the Tanzu Standard and Tanzu Advanced editions.

Training 309
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Why Some Banks Are More Profitable Than Others – The Nonlinear Customer Equation

South State Correspondent

Why do some banks grind it out and struggle to produce a 9% return on equity ("ROE"), while other banks such as Bank of America and Chase produce 20% plus ROE for the same business segment? One answer is that banks that produce an above-average ROE either have a more profitable customer segment focus, more profitable products, or a more profitable business model.

America 150
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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Are You Keeping Up With Oracle Cloud ERP?

Perficient

Having worked with numerous clients both during and after their move to Oracle Cloud ERP, we get a good sampling of the sentiment of companies using it. Most are very positive. They like the new user interface. There is additional functionality to take advantage of, and they no longer have to worry about keeping the hardware and software up to date.

Maine 309

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Regional, Community Banks Face Digital Challenges Post-Pandemic

Banking Exchange

Greenwich Associates reports widening gap in digital investment between national and regional banks Community Banking Feature3 Feature Technology Retail Banking Covid19 PPP Customers Tech Management Mobile Online.

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Fintechs give a dynamic twist to static credit card marketing

Payments Source

I2c and Unifimoney change incentives to fit market conditions, rather than focusing primarily on boosting consumer spending.

Marketing 158
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Podcast: Maggie L. Walker’s Historic Mission of Financial Empowerment

ABA Community Banking

Historian Shennette Garrett-Scott tells the story of Maggie Lena Walker and her mission to help Black women find financial empowerment and professional career opportunities. The post Podcast: Maggie L. Walker’s Historic Mission of Financial Empowerment appeared first on ABA Banking Journal.

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The continuing evolution of installment payments

Payments Source

Michael Moeser, Senior Analyst at PaymentsSource, talks to Brian Barth, CEO of Uplift, about how the buy now/pay later space continues to develop.

Payments 127
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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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Goldman Sachs’ Marcus Invest takes a human-automation approach to robo-advisors

BankInovation

Marcus by Goldman Sachs on Tuesday unveiled Marcus Invest, a robo-advisory tool for which the bank developed automatic portfolio management and rebalancing technology. Marcus is the online consumer banking business born out of the Wall Street incumbent in 2016. Marcus Invest is a new digital investment platform that offers managed portfolios of stock and bond […].

Tools 98
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Opera's in-browser wallet an overture to youthful 'power shoppers'

Payments Source

Norwegian browser Opera Limited has launched Dify, a wallet that will support payments and cash-back rewards through a virtual Mastercard debit card.

Cards 122
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Listen: CRO breaks down risks of automating compliance

BankInovation

Automation can help eliminate risk — if it’s used correctly. But this is often not the case, according to a chief risk officer who has worked with censured banks. The most common mistake banks make is using technology without auditing or understanding it, according to Andrew Stines, chief risk officer at the $1.77 billion Coastal […].

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Mainstream investors give bitcoin payments a jolt

Payments Source

Few businesses accept bitcoin for payments, but as Tesla and other big companies get on board that could change, says T1 Payments' Donald Kasdon.

Bitcoin 118
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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Fintech inspired by Black Lives Matter targets underbanked

American Banker

Paybby, whose founder wanted to address disparities in the financial system after the George Floyd protests, is working with banks and others to develop products especially for underserved communities. They include a debit card that substitutes for food stamps and an app that temporarily sweeps cash into cryptocurrency.

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Ballard Spahr creates California “Mini-CFPB” team and launches new resource center

CFPB Monitor

Effective January 1, 2021, California’s revamped consumer protection agency—the Department of Financial Protection and Innovation (DFPI)—has new, sweeping power over consumer financial services providers in the most populous U.S. state. To help clients navigate this new regulatory authority, Ballard Spahr’s nationally recognized Consumer Financial Services Group has created a California “Mini-CFPB” team.

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Bitwise debuts first distributed finance fund amid boom in crypto

Payments Source

Exposure to one of the fastest growing and most controversial corners of the crypto world is now available in an index fund format.

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ABA Urges OCC to Reverse ‘Ill-Considered’ Bank Approvals

Banking Exchange

Trade groups have raised concerns about the recent banking licences granted to Anchorage and Protego Compliance Community Banking Feature3 Feature Duties.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Blackouts, deep freeze force Texas banks to shutter branches

American Banker

Comerica, Regions and Frost Bank closed hundreds of branches statewide while others ran them at reduced capacity or on power generators to help ease the strain on the state’s overwhelmed power grid.

Texas 81
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Is Your Contemplated Bank Merger Anti-Competitive?

Jeff For Banks

Yesterday at the ABA's virtual Conference for Community Bankers (CCB), Federal Reserve Governor Michelle Bowman gave a speech, My Perspective on Bank Regulation and Supervision. In that speech, she briefly commented on the FRB's review of merger applications from an anti-trust standpoint. She said: "Technological developments and financial market evolution are quickly escalating competition in the banking industry, and our approach to analyzing the competitive effects of mergers and acquisitions

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Cash-out refis help drive pandemic-era mortgage boom

American Banker

Origination volume hit a record high in 2020 as more borrowers tapped the equity in their homes and investors and second-home purchasers flocked to the market at levels unseen since before the Great Recession.

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Changing work habits has also changed consumer behavior

Payments Source

Changing work habits has also changed consumer behavior.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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How apps became more trusted than banks, and what banks can do about it

American Banker

Consumers who have felt betrayed by banks are more likely to turn to mobile apps that give them a greater sense of financial control. Bankers must reconnect with these people and reassure them that their personalized advice is safe and valuable.

Mobile 81
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Listen: CRO breaks down risks of automating compliance

BankInovation

Automation can help eliminate risk — if it’s used correctly. But this is often not the case, according to a chief risk officer who has worked with censured banks. The most common mistake banks make is using technology without auditing or understanding it, according to Andrew Stines, chief risk officer at the $1.77 billion Coastal […].

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Behind Western Alliance's $1 billion bet on a mortgage lender

American Banker

Acquiring AmeriHome would provide the fee revenue the Phoenix company seeks to compensate for low interest rates and tepid commercial loan demand. The deal also would allow it to reinvest billions of dollars of excess liquidity.

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Finastra, Baptist Health Federal Credit Union to offer digital banking

The Paypers

UK-based Finastra has announced that Baptist Health Federal Credit Union and their affiliates have chosen their solution to digitise their banking offerings.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.