South State Correspondent

AUGUST 31, 2022

Banks are full of documents. Each document contains an extensive array of data. Just keeping track of non-disclosure agreement terms is a huge task. Then there are vendor contracts, employment agreements, statements of work, loan documents, financial statements, tax returns, deposit account documents, policies, and an array of similar applications. The challenge is that most of the data in documents are “dark data” or unstructured data that is hard to find, analyze and manipulate.

Training 448

Training Data Examples Taxes 448

Payments Dive

AUGUST 31, 2022

Calls from government officials urging Visa, Mastercard and American Express to support creating a merchant category code for gun sellers are growing louder.

Company 418

Company Cards 418

South State Correspondent

AUGUST 31, 2022

ADP Employment Change Report Reappears. It had been a ritual for years during jobs week that the ADP Employment Change Report would be released on Wednesday and provide a bit of a heads up for the Friday BLS jobs numbers. Alas, ADP began to vary wildly from BLS numbers during the pandemic and recovery, so they took it down last May to retool the methodology (with the help of Stanford Digital Economy Lab), and provide additional wage information.

Report 221

Report Maine US Marketing 221

Payments Dive

AUGUST 31, 2022

Affluence and age significantly affect whether people choose to use cash for purchases, according to the latest Gallup poll on cash use in the U.S.

397

397

Advertisement

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

Lending

Independent Banker

AUGUST 31, 2022

Photo by Chris Williams. In today’s intense regulatory landscape, compliance extends to every aspect of banking, so much so that no one person or team can be solely charged with managing a bank’s compliance requirements. In fact, compliance has grown to become a massive responsibility that must be part of every employee’s job. We’re looking at the need for a full culture of compliance.

Compliance 177

Compliance Community Leadership Industry 177

Independent Banker

AUGUST 31, 2022

Photo by Chris Williams. This month’s Independent Banker focuses on budgeting issues with a special emphasis on the ICBA National Community Bank Service Awards. With that two-pronged concentration, I can’t help but consider the connection between our role of service and the impact regulation can have on our very ability to serve. Inherent to our business model is a passion to support our communities, one that allows for flexibility to meet the individual needs of our customers.

Community Bank 163

Community Bank Honolulu Community Georgia 163

CFPB Monitor

AUGUST 31, 2022

On August 10, 2022, four Senators, Elizabeth Warren (D-MA), Dick Durbin (D-IL), Sheldon Whitehouse (D-RI), and Bernie Sanders (I-VT), sent a letter to Acting Comptroller of the Currency Michael Hsu, asking him to reverse four interpretive letters regarding whether it is permissible for national banks to provide cryptocurrency services. Under Mr. Hsu’s predecessor, Acting Comptroller Brian Brooks, the OCC issued multiple interpretive letters related to cryptocurrencies.

cryptocurrency 78

cryptocurrency National Fraud Regulation 78

Independent Banker

AUGUST 31, 2022

Photo by Enigma Images/iStock. By Charles Potts, ICBA. The COVID-19 pandemic placed unprecedented stress on food supply chains, with bottlenecks in farm labor, processing, transport and logistics, according to the Organization for Economic Cooperation and Development, and these challenges show no signs of letting up. Against this backdrop, agtech—the application of technology to every aspect of the food production process, from farm to table—is growing in importance to the mission of ICBA and co

Innovation 144

Innovation Community Bank Community Lending 144

CFPB Monitor

AUGUST 31, 2022

Earlier this week, the Federal Reserve Board of Governors narrowed the timetable for the launch of its instant payments platform—FedNow—to mid-year 2023, specifically targeting a production rollout of the service in a May to July 2023 timeframe. The Fed had previously communicated a 2023 launch. In September 2022, the FedNow Pilot Program will begin technical testing for the service.

United States 78

United States Resources Payments Software 78

Advertisement

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

Report

Independent Banker

AUGUST 31, 2022

By Lindsay LaNore, ICBA. As teams, how well do we work under pressure? The ICBA Community Banker University team recently had a chance to think about that when, at our annual strategy and teambuilding meeting, we found ourselves locked in an escape room. Whether you’ve done one or not, we all know the premise of escape rooms. A group is locked into a space—real or virtual—and, against the clock, its members solve clues and puzzles to get out.

Exercises 118

Exercises US Groups Maine 118

BankUnderground

AUGUST 31, 2022

Alina Barnett, Sinem Hacioglu Hoke and Simon Lloyd. Since 2007, macroprudential policymakers have grappled with a broad set of vulnerabilities. While regulators cannot be sure what risks the next decade will feature, they can be sure that the set of issues will continuously evolve. In this post, we explore three timely challenges that financial stability policymakers are likely to face in the coming years, including risks associated with: non-bank financial intermediation, cryptoassets and decen

Policies 83

Policies Marketing System Regulation 83

Independent Banker

AUGUST 31, 2022

Illustration by Filo/iStock. Social payments methods like Venmo and Cash App continue to grow in popularity, and the data is there to prove it, creating an opportunity to give customers what they want: 24/7 access to cashless, P2P and mobile transactions. So how do social payments fit in community banks’ long-term future? By Colleen Morrison. Social payments have taken today’s digital environment by storm.

Capital 94

Capital Payments social media Community Bank 94

William Mills

AUGUST 31, 2022

Fall not only brings a new school year, cooler temperatures and the emergence of college football rivalries, but also the start of conference season. This is the first time in several years people are feeling comfortable enough to travel and gather in person again, so this trade show season is already shaping up to be a busy one.

How To 71

How To Conference Industry 71

Advertisement

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.

Lending

Independent Banker

AUGUST 31, 2022

ICBA’s Bank Security Institute offers critical incident response strategies to keep your physical branch location safe. The pandemic forced industries to accelerate their adoption of digital applications, and community banking was no exception. And as banking processes increasingly moved online, community bankers needed to fortify their online defenses against fraud and cybercrime.

Community 91

Community Security Community Bank Fraud 91

South State Correspondent

AUGUST 31, 2022

Banks are full of documents. Each document contains an extensive array of data. Just keeping track of non-disclosure agreement terms is a huge task. Then there are vendor contracts, employment agreements, statements of work, loan documents, financial statements, tax returns, deposit account documents, policies, and an array of similar applications. The challenge is that most of the data in documents are “dark data” or unstructured data that is hard to find, analyze and manipulate.

Training 74

Training Data Examples Taxes 74

Independent Banker

AUGUST 31, 2022

From left: Heather Kelley, Jan Button-Minton, Andrew Pyles and Ro Byrd of Eclipse Bank in Louisville, Ky., create a team-centric focus as part of the bank’s company culture. Photo: Chris Cone. When it comes to hiring, everyone’s been feeling the pinch. But don’t forget to take care of the folks you already have. Here, we look at how a people-first cultural approach is key to both preserving talent and preventing another Great Resignation.

How To 91

How To Louisville Community Bank Training 91

BankInovation

AUGUST 31, 2022

The $96.4 million Summit National Bank, located in Hulett, Wyo., is one of four financial institutions (FIs) that recently chose Malauzai’s SmartApps Mobile Banking platform, according to an FI Navigator report provided to Bank Automation News. The other FIs include: $17.4 million Citizens First Credit Union, based in Big Spring, Texas; $47.8 million D.C.

National 52

National Mobile Texas Report 52

Advertisement

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.

US

Independent Banker

AUGUST 31, 2022

Community banks can get up to speed on current legislation and regulations to both protect their customers from unauthorized or false deposit account transactions and to prevent them from happening in the future. By Mary Thorson Wright. Mistakes, system glitches and fraud happen. Direct deposit or bill pay failures, transaction input errors or operating system malfunctions could show up on a consumer’s deposit account statement.

Community Bank 91

Community Bank Regulation Community Training 91

BankInovation

AUGUST 31, 2022

Klarna Bank AB said losses more than trebled in the first half of the year, ahead of a cost-cutting drive that’s set to temper its rapid international growth. The Stockholm-based fintech reported an operating loss before tax of 6.2 billion Swedish kronor ($581 million) for the six months through June, up from 1.8 billion kronor […].

US 52

US Taxes Fintech Operations 52

Independent Banker

AUGUST 31, 2022

Daniel Galindo, pictured, and Doug Schaeffer of Woodforest National Bank helped involve the community bank in providing funding for and access to affordable housing. When two executives at Woodforest National Bank noticed a dearth of affordable housing options in southeast Texas, they decided to do something about it, partnering with several housing and community groups to launch an innovative mortgage lending product aimed at underserved clients.

Austin 91

Austin Texas Community National 91

BankInovation

AUGUST 31, 2022

Britney Pope, associate vice president of strategic solutions at cloud banking provider nCino, is joining the speaker faculty at Bank Automation Summit Fall 2022 for the panel, “Using business intelligence, CRM and automation to improve customer and employee experiences” on Tuesday, Sept. 20 at 9 a.m. PT. Bank Automation Summit Fall 2022 will take place […].

52

52

Advertisement

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.

Compliance

Independent Banker

AUGUST 31, 2022

Members of Ledyard National Bank lend a hand to Willing Hands, a nonprofit dedicated to feeding those in need. For its 30th anniversary, Ledyard National Bank decided to ask 10 local nonprofits to enter a video about their work into a contest for the opportunity to win $10,000 and expand their visibility. By Tiffany Lukk. When Ledyard National Bank in Hanover, N.H., was founded 31 years ago, it was during a time where many community banks were being purchased by larger banks.

Video 91

Video Community National Vermont 91

BankInovation

AUGUST 31, 2022

Software-as-a-service provider Vergent LMS is prioritizing service to the Latin American community with help from Microsoft’s Blazor plugin. The company’s loan management software (LMS) connects to the tech giant’s plugin to allow documents, payment screens and account management tools to automatically translate into a user’s language of choice. As of now, Spanish is the second […].

Tools 52

Tools Software Community Management 52

PopularBank

AUGUST 31, 2022

The changes, effective October 2022, will also include an increased balance threshold to avoid overdraft fees and will apply to retail and commercial customers. Popular Bank , a subsidiary of Popular, Inc. (NASDAQ: BPOP) announced changes to overdraft services, including eliminating returned non-sufficient fund fees, discontinuing extended overdraft fees, and increasing the balance threshold to trigger overdraft fees.

New Jersey 52

New Jersey Florida FDIC New York 52

The Paypers

AUGUST 31, 2022

Global provider of payment orchestration CellPoint Digital and Cybersource , Visa’s fraud management in payments solution, have announced a strategic partnership to provide merchants with a holistic answer to fight fraud.

Fraud 45

Fraud Management Payments 45

Advertisement

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.

Lending