Accenture
AUGUST 3, 2015
Since their introduction, digital channels have significantly increased the number of overall interactions that banks have with their customers. In our recent Global Consumer Pulse Research, we found that when they are prospecting for new products or services, consumers rely. Read more.
South State Correspondent
AUGUST 31, 2015
You have probably experienced this at your bank - You hold a shareholder meeting and of your 1,000 shareholders, only twenty people showed up and ten were directors, two were past employees and five were there for the free lunch. Your chairwoman shrugs at the turnout and then jokes that at least you don’t have any activist in the crowd. You all have a quick meeting, a good lunch and then get back to work.
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Abrigo
AUGUST 28, 2015
The 2015 Risk Management Summit is less than a month away. Executives from more than 100 banks and credit unions representing 39 states have already registered to join their peers, industry experts and Sageworks in Chicago for the premier ALLL and stress testing conference. Registration is still open, but very limited seats remain. Here’s why this is the most popular Risk Management Summit to date: 1.
Celent Banking
AUGUST 31, 2015
It’s no secret that banks are increasingly interested in using digital channels to sell to customers. With that in mind, I tried to open accounts at 26 U.S. banks using only the digital channel, typically online, but sometimes via my smartphone. I evaluated the processes solely from the consumer’s perspective. A checking account applicant doesn’t care how hard it is to change processes, doesn’t know how difficult it can be to deal with compliance, or understand why banks have to collect so much
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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
Finer Points
AUGUST 18, 2015
The United States has three branches of government to prevent any one from having too much power. The tax-exempt credit union industry apparently skipped this civics lesson because it obviously doesn’t believe it should have to listen to Congress. The National Credit Union Administration has proposed dramatically revising business-lending rules for these tax-subsidized institutions.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
AUGUST 24, 2015
One trend to come out of our recent Global Consumer Pulse Research that banks might consider good news is the high but slowing growth in customer service expectations—a slowdown which is giving banks a chance to re-evaluate the ways they. Read more.
South State Correspondent
AUGUST 27, 2015
It has been said that the shareholder letter is up there with reading ingredients on the back of oatmeal and academic studies on mono-phase phosphates. In the spectrum of shareholder letters, bank letters happen to be on the snoozy side of yawnsville. Of course, it doesn’t have to be like that. Berkshire Hathaway has undoubtedly the best shareholder letter in corporate America.
Abrigo
AUGUST 26, 2015
“… it’s not 2008.”. This is the sentiment of several high-profile executives regarding the National Credit Union Administration’s (NCUA) stance on examination cycles for credit unions. There’s been much back and forth over the last week on this subject and the NCUA’s desire to stick to a 12-month examination cycle for the financial institutions it regulates.
Celent Banking
AUGUST 27, 2015
In my last post, I talked about the experience of using my credit card in the US, and how just inconsistent it feels. Some of it was undoubtedly tied to security – using photo ID or entering zip codes – though I’m far from convinced that they provided any security at all. In some conversations we’ve had, there has been a feeling that US fraud is actually manageable at an industry level – a belief that they are in line or better than in many other countries.
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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
CFPB Monitor
AUGUST 31, 2015
Barbara S. Mishkin. Banks and other companies subject to the CFPB’s jurisdiction face the possibility that the CFPB could begin using its authority under Sections 1031 and 1036 of the Dodd-Frank Act (which proscribe unfair, deceptive or abusive acts or practices) to regulate cybersecurity policies and procedures. For companies also subject to the FTC’s jurisdiction, however, the threat of FTC regulation of their cybersecurity policies and procedures is significantly more imminent in
Independent Banker
AUGUST 26, 2015
A Pennsylvania community bank’s perspective on the rewards and potential perils of developing a separate business line. By Katie Kuehner-Hebert. Forming new business lines—if carefully planned and considered—can be a potentially significant way for a community bank to boost revenues and profits. But just as their upsides are significant, the downsides of new propositions for community banks can create more problems than opportunities.
Accenture
AUGUST 16, 2015
Most banks split the execution of any change with detailed handover between various disciplines. This traditional approach does not work for a digital strategy. Successful, scalable digital transformation requires three important roles: The technology entrepreneur, the banking entrepreneur and the. Read more.
South State Correspondent
AUGUST 26, 2015
It comes as no surprise to the educated and insightful community banker that our customers do not care about our products and services. Wait, read on and don’t pass judgment yet! What we mean by that is that customers don’t care about the way we underwrite loans, our construction terms, our deposit rates or how we gather checks remotely. None of that matters to customers.
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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.
Abrigo
AUGUST 25, 2015
Current technology has enabled auditors to analyze extensive amounts of financial data, allowing accounting professionals to more easily identify areas of risk. These technologies have also helped streamline time per audit and produced higher quality assurance. Is your firm taking advantage of these current technologies? What might the future of audit technology look like?
Celent Banking
AUGUST 13, 2015
Zil wrote almost a year ago about his experience using a foreign card in the US. I’m just back from an extended stay in the US, and was really struck by how inconsistent the experience is for a consumer. Consider these variations I experienced, in just one day! Check in at a hotel – swipe the card, pre-authorising a charge of $150 a day, no signature, no receipt.
Gonzobanker
AUGUST 31, 2015
In our line of work , we see a lot of processes and benchmark a lot of data. Here are four statistics that will blow your mind: 75% of time spent with new customers involves computer input versus building relationships through a conversation. More than 50% of banks still originate commercial loans manually. 60% of financial institutions still use a paper-based new accounts process.
Independent Banker
AUGUST 26, 2015
Consumer devices are the most vulnerable point for bank cyberattacks. By Maria Korolov. Cybercriminals who attack banks are more likely to focus on their online customers, according to the latest Verizon Data Breach Investigations Report. End-user devices were involved in 82 percent of all financial incidents, compared with about half for all industries on average.
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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.
Accenture
AUGUST 12, 2015
On 29 December 2014, seated by a brightly burning fire at home, I penned 20 predictions for the Payments industry for 2015. So, half way through the year, how are the predictions faring? At this stage, I can report interesting. Read more.
South State Correspondent
AUGUST 25, 2015
If you are looking to make best-in-class decisions, it pays to have a variety of best-in-class tools at your disposal. Oftentimes, a reason why banks don’t innovate more is because they lack the tools and experience to properly understand the risk and the return. Without a way to quantify the risk, stagnation occurs. As banks develop their risk management culture, it pays to have all managers conversant in the proper tools to manage risk.
Abrigo
AUGUST 20, 2015
According to recent data from the Agricultural Finance Databook , non-real estate farm loan volumes continued to rise in the second quarter of 2015, increasing by five percent over the second quarter of 2014. This growth continues the trend from the first quarter of 2015 , which saw an increase of eight percent year over year. But there is cause for concern, as 2015 farm income is expected to decrease from year-ago levels.
CFPB Monitor
AUGUST 27, 2015
Barbara S. Mishkin. Many readers probably remember Edwards v. First American Financial Corp. for its ill-fated journey to the U.S. Supreme Court. The Supreme Court had granted certiorari to decide the issue of whether a plaintiff who brings a RESPA claim has Article III standing to recover statutory damages in the absence of any actual damages caused by the alleged RESPA violation.
Advertiser: Data Robot
The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.
Jack Henry
AUGUST 26, 2015
Author: Derik Sutton, DSutton@ProfitStars.com. As financial services become more reliant on the technology we leverage to better serve our clients , it would benefit us to view our own product processes through a modern lens. I believe these principles are not only applicable to building software applications and services, but can also be applied to a financial institution (FI) building a new account type or updating its customer service as it relates to digital customers.
Independent Banker
AUGUST 26, 2015
Expanding IT security safeguards to cover physical devices. By Collin Canright. With the prevalence and importance of Internet-enabled devices increasing nearly everywhere, community banks should remember to expand the scope of their security policies and network monitoring to cover their hardware, according to computer security experts. Any physical hardware connected to such software systems should be monitored and protected, they say.
Matt Wilcox Pro
AUGUST 25, 2015
Why “an AOS app” may not be enough REMEMBER WHEN telephones were clunky, corded things you plugged into a wall and used only for the now quaint, so last-century practice of talking? And when offering phones in a choice of colors was a major step forward? Thank goodness the Dark Telephonic Ages are behind us. [.
South State Correspondent
AUGUST 24, 2015
Of all the sayings, “having your cake and eating it too” is perhaps the most moronic. Where did this saying come from and who is the clown that started it that wanted their cake, but didn’t want to eat it? Regardless, when it comes to reducing operating cost and keeping your customers happy, we have a way that banks can have their cake and a slice. .
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