May, 2022

3 ways banks can get great ROI from the cloud

Accenture

Before making a big investment (of both money and effort) in their journey to cloud, most banks want to know what kind of return they’ll get on that investment. Is there a solid business case for moving to cloud? I discuss the areas that see the best return on investment (ROI) from cloud with Keri….

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New World, New Money

Daily Fintech

The internet, both Web1 and Web2, changed our lives in profound ways. Once again we are on the brink of another big change. We are at a point of transition between technological evolutions that are going to change how we play, how we shop, how we hang out with friends, and even how we go […].

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5 Traits of the ideal credit manager

Abrigo

What Makes a Successful Credit Manager Focusing on these traits can only help you become a better credit manager at your financial institution. Would you like other articles on loan review in your inbox? Takeaway 1 Be a good negotiator. It is all about the art of the deal. Takeaway 2 Know the rules.

Chip shortage drives up card costs

Payments Dive

Russia's invasion of Ukraine is affecting card chip prices because Ukraine is home to two companies that produce half of the world’s neon supply, a key ingredient in chips

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How to Choose the Best Automated Documentation System for Commercial Loans

Not all automated loan doc prep solutions are created equal. That is why we have put together a checklist to help you evaluate potential partners and find the best-automated documentation system for your requirements and needs.

Brad M. Bolton: Community continuation

Independent Banker

Photo by Chris Williams. Community continuation is not about checking a regulatory box; it means putting a name to the people who will be the future of our banks.

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Culture change as the key to success in banking’s future

Accenture

Let’s face it: my previous post on workplace culture in banking was a bit gloomy. But the data is unequivocal. Multiple Accenture cross-industry studies have found that, on an industry level, banking struggles more than it should to attract, recruit and retain talent.

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XBRL News from China, the UK and Malta

Daily Fintech

Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week.

9 Tips to Improve Your SAR Narrative for Law Enforcement

Abrigo

Strategies for being a better SAR writer With the volume of SARs law enforcement have to sift through, what can a BSA officer do to stand out? Here are a few techniques that should help. Would you like other articles like this in your inbox?

Big tech pushes passwordless for payments

Payments Dive

Google, Microsoft and Apple this month began a big, new push in their campaign for a passwordless standard that's aimed at improving digital identity verification, including for payments

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Cyber Security, Change Management and Enterprise Risk Management: Scaling Operations for Growth

Speaker: William Hord, Vice President of Risk Management and Compliance

Join us as we discuss the various tangents of data and the change management process that will help you make better risk-based business decisions to save time and money for your organization.

The effect of nonbanks in the mortgage space

Independent Banker

Josh Prejean (right) of Bank of Zachary, here with mortgage client David Rozas, says community banks must compete through customer service. Nonbank institutions continue to be serious contenders in the home lending space.

Finally, Some Friendly Inflation News Appears

South State Correspondent

Some Friendly Inflation News Appears. The last major piece of economic information is out this morning and April personal spending slightly bested expectations rising 0.9% vs. the 0.8% forecast but was off against March spending which was revised higher from 1.1% to 1.4%.

4 strong ideas from the payments disruptor playbook

Accenture

If there’s one thing the payments industry has learned to expect over the last decade, it’s the unexpected.

Alt Lending Week ended 27th May 2022

Daily Fintech

HSBC suspends banker over Nutjob climate change comments Stuart Kirk certainly made some injudicious comments about climate change but why suspend him when what he said was common sense. I am not a climate change zealot but that does not mean that I don’t believe in climate change.

How Preparation and Strategy Can Be Used to Fight and Defeat Any Ransomware Attack

Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP

Through a detailed analysis of major attacks and their consequences, Karl Camilleri, Cloud Services Product Manager at phoenixNAP, will discuss the state of ransomware and future predictions, as well as provide best practices for attack prevention and recovery.

Model Risk Management: Regulatory Priorities and Best Practices

Abrigo

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. Would you like other articles like this in your inbox?

Cannabis payments companies focus on compliance, creativity

Payments Dive

In the cannabis business, federal illegality has kept many banks and payments companies on the sidelines. That's opened the door for young companies that are using the ACH network to facilitate cannabis payments in states where it’s been legalized

FinTech Growth & Digital Platform Integration | FinTalk

Strategically Speaking

Today’s community banks and credit unions face unprecedented challenges in trying to compete with megabanks and bigtechs.

Customer Experience – How Service Focused Banks Measure Their Performance

South State Correspondent

While every bank talks about delivering on their service promise, only about 35% of banks have a formal effort and track key performance indicators (KPI). It is no surprise that these banks not only have higher customer experience performance but have a higher return on equity numbers.

Digitally Transforming the Engagement Experience for Financial Institutions

Customer experience has become a key differentiator. Learn how to launch your digital transformation by incorporating two customer experience trends into your digital transformation strategy: self-service & personalization.

Why the metaverse is a megatrend banks can’t miss

Accenture

From blockchain to edge computing, I’ve always loved learning about new technologies. So when I first heard about the metaverse, I wanted to learn more about how it applies to banking. The reality is that banks can’t ignore the metaverse. It is central to every bank’s digital future.

Crypto assets are worth nothing… and then she woke up

Daily Fintech

It looks like Christine Lagarde, the President of the European Central Bank, has lost her sleep and is having nightmares over crypto.

Fraud Concerns and Trends in 2022

Abrigo

Fraud on Alert for 2022 A review of SAR data , government agenc y releases, a nd fraud findings found these f raud c oncerns and trends to wat ch in 2022. Would you like other articles like this in your inbox?

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CFPB carves out new competition angle for oversight

Payments Dive

A former CFPB enforcement director told an audience of payments professionals this week that they'd best be prepared for the agency to expand its oversight by way of its markets authority

Digital Commercial Lending Technology Case Study: Increasing Loan Volume and ROI

In this Commercial Lending Case Study, you'll discover how to leverage digital lending technologies to accelerate growth and leapfrog the competition in the private lending market. A new and innovative approach to mortgage lending — growing lending volume by orders of magnitude.

Is Your Retirement Plan Sponsor ERISA Compliant?

SWBC's LenderHub

In the recent Supreme Court case of Hughes vs. Northwestern University, current and former plan participants in two of the university’s retirement plans claimed that the academic institution was in breach of its fiduciary duty. Regulations & Compliance Retirement & Succession Plans

Optimizing Loan Duration

South State Correspondent

Customers and competitors are challenging community banks to extend loan duration – borrowers are eager to lock fixed rates before they rise further, and many competitors are happy to oblige.

Got legacy tech debt? 5 reasons to modernize now

Accenture

I cannot overstate the benefits of a modern core system—including flexibility, growth, new revenue pools and cost reduction—or the downsides of not having one. Without a modern technology stack, auto and equipment finance companies: Waste time on repetitive manual tasks that are prone to error.

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This Week in Fintech ending 20 May 2022

Daily Fintech

This week our experts brought you the following insights based on their experience as investors, entrepreneurs & executives. This will be the last This Week in Fintech post.

The Non-QM Market Experiences a Remarkable Comeback: Check Out the Industry Guide

As the commercial lending market evolves, non-QM loans are becoming increasingly popular. Check out this eBook for a detailed look at the benefits of non-QM loans, how to maneuver your way through, and what the future may bring.