May, 2013

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Does fee income hedge banks and credit unions from spread swings?

Jeff For Banks

'The drum is starting to beat again for fee income in the minds of banking executives and in financial institution strategy sessions. This week I heard "hedge" against interest rate fluctuations, a comment more common in the late 1990''s to mid 2000''s. So I ran some numbers, and the answer to the post title is: it depends. Fee income comes in many sources.

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Mount Up: Regulating Virtual Currency

Javelin Strategy & Research

The virtual currency market was initially thought to be exempt from Federal regulation. However, the illegal activities which have flourished as a result of lax regulation have drawn the attention and ire of U.S.

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The proposed EU-directive on Bank Accounts: wrong tool

Money and Payments

'Today, the European Commission will announce a proposal for a Directive on Bank Accounts that covers the following areas: - comparability of bank account fees: the aim is to make it easier for consumers to compare the fees charged for bank accounts by banks and other payment service providers in the EU;- bank account switching: the purpose is to establish a simple and quick procedure for consumers who wish to change from their current bank account to a different one, with the same or a differen

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The Sure-Fire Way to Stop Disorienting Your Best Salespeople—and Help Them Massively Succeed.

The Emmerich Group

'It’s consistent…The one thing that most banks do wrong is sales training. In fact, in most cases, it is a train wreck. Most banks are screaming for loan growth. But they’re not going to get it. They think the only way to achieve that growth is to do traditional sales training. Never, in the history of time has that ever worked. No really…never.

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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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The Danger Within: Banking Conferences

Jeff For Banks

'The boss goes to a banking conference and senior management worries what new idea he or she will come back to implement. Sound familiar? I''m currently at a banking conference in Florida at a swanky hotel that I would not go to if not for work. Too pricey, too reserved, and too old. But I can''t complain. I''m waiting for room service as I type. The accompanying picture was my work view yesterday.

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A Community Banker for the Ages

Jeff For Banks

'On Sundays, I go old school. I pick up the Sunday paper from my sidewalk, go inside, pour a cup of coffee, and read it. On a recent Sunday, the headliner in the Business Section was about the retiring Bob Enck, a long time community banker in my hometown, Elizabethtown, Pennsylvania. Bobby Enck is a relic of an old time era in banking, when you started and finished your career at the community bank in the center of town.

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Move over ‘multichannel’ financial services, it’s time to evolve to an ‘omnichannel’ approach

Javelin Strategy & Research

A client reached out the other day because he noticed that we’re in the process of unveiling a new title for my practice area. From here on, you’ll predominantly hear Javelin describe things from an “omnichannel” perspective rather than a “multichannel” perspective. It’s not just a nuance to provide an excuse to print up new business cards, tweak our website, and update my LinkedIn profile.

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The missing magic word for 21st-century PFM

Javelin Strategy & Research

Olivier Berthier raises some important questions in a blog on Finextra about how to address the “subpar” adoption rates for online personal finance management tools. But what struck me most was the question he didn’t ask. There’s a crucial word missing in this look at how personal finance management will evolve: mobile.

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Easy Money, Hard Answers: 2012 Global Payments Data Breach

Javelin Strategy & Research

In March 2012, Global Payments was forced to acknowledge that a breach had occurred, but the devil is in the details. Transparency is the last word that anyone would use to describe this massive breach, and for good reason. While MasterCard and Visa alerted issuers of the processor breach, asserting that it began in 2011 and involved the potential compromise of 10 million payment cards, official details of the event have been heavily obfuscated – it’s as though George Orwell had coached their PR

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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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Pageonce plays the name game, rebrands as ‘Check’

Javelin Strategy & Research

Pageonce has succeeded in making a name for itself as a direct-to-consumer personal finance management app that has leapfrogged better-known Mint. Starting today, however, it is setting out to make a name for itself that consumers will recognize. It has rebranded itself as Check.