Accenture
SEPTEMBER 23, 2015
Speed is critical for retail banks that want to master digital disruption. In the digital banking era, change happens nearly instantaneously. New competitors enter the market quickly. Industry boundaries are redrawn in a flash. Tomorrow’s technologies emerge even before banks. Read more.
South State Correspondent
SEPTEMBER 30, 2015
Some bankers assume that customers make decisions based on rational choices. Many bankers have long assumed that customers weigh the pros and cons of each product and consider the value of services that we market to them to make their choices. But nothing can be further from the truth. Not only are many consumers and business people irrational, but their irrationality is highly predictable.
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Abrigo
SEPTEMBER 28, 2015
Understandably, financial institutions of all sizes have numerous questions about how they will implement the FASB’s proposed current expected credit loss model, or CECL, once the standard is finalized. At the 2015 Risk Management Summit hosted by Sageworks, a panel of banking industry experts provided tips for bank and credit union professionals to put their institutions in a better position for transitioning from the incurred-loss model when the time comes.
Celent Banking
SEPTEMBER 30, 2015
Service Design. Journey Maps. Customer Stories. Mood Boards. Experience Recovery. These are a handful of the topics discussed at this week’s Customer Experience for Financial Services (CXFS) Conference, organized by Worldwide Business Research in Charlotte, NC. As an analyst currently immersed in research on corporate banking financial performance, regulatory environment, economic conditions, business demographics, and financial technology, the CXFS event was a welcome change of scenery.
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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
SEPTEMBER 22, 2015
When most people want a tissue, they say they need a Kleenex. When you cut your finger, you don’t say you need an adhesive bandage—you need a Band-Aid! When you need to make a photocopy, regardless of the brand of the machine, you make a Xerox copy. Many marketers would consider this a compliment, especially […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
SEPTEMBER 15, 2015
With mobile payments propositions launching thick and fast – Apple Pay, Samsung Pay, Android Pay, Zapp to name a few, how can banks and other payment service providers (PSPs) ensure that these propositions are adopted quickly, and what can they. Read more.
South State Correspondent
SEPTEMBER 29, 2015
The other day we learned something when our email server went down – collaborative communication applications helped increased productivity for internal projects. Email, we found out, is the lowest common denominator. We have a beta test team using different types of collaborative applications and today we present some thoughts about using these applications in a bank environment.
Abrigo
SEPTEMBER 25, 2015
It will come as no surprise that one of the largest concerns facing accounting firms today is staffing. For some firms, the way to solve this is by ensuring there is a greater gender balance among the staff. Although women are entering the profession in higher numbers than ever before, they are dramatically underrepresented in terms of partners. According to the AICPA , 48 percent of employees in CPA firms are women, yet only a mere 24 percent are partners and principals.
Celent Banking
SEPTEMBER 30, 2015
A few weeks ago, Dan Latimore and I had the chance to attend Finnosummit in Mexico City. While Dan was the one really working (he presented on “How Big Data can change Financial Services”) I mingled around the participants of this vibrant ecosystem encompassing entrepreneurs, financial institutions, investors, and regulators among other stakeholders.
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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
Gonzobanker
SEPTEMBER 28, 2015
Why go to the trouble of taking money out of people’s accounts if you can get them to just give it to you? That, apparently, is the logic behind hackers who use stolen passwords and information from breaches to send fake wire transfer requests to trick recipients into approving funds transfers. Take, for example, the Ashley Madison breach where email addresses were obtained.
Independent Banker
SEPTEMBER 21, 2015
ICBA’s in-depth certification programs vault compliance officers to the highest standards. By Ed Avis. imberly Anderson, senior vice president and chief administrative officer of Cañon National Bank in southern Colorado, became her community bank’s loan compliance officer in 2003. In early 2004, examiners visited her $253 million-asset bank, an experience that revealed a need—someone with a stronger compliance background.
Accenture
SEPTEMBER 8, 2015
According to our recent Global Consumer Pulse Research, non-traditional competitors are gaining ground with banking consumers. Forty-four percent of consumers across industries globally say they would consider products and services from companies that are not generally considered part of traditional. Read more.
South State Correspondent
SEPTEMBER 28, 2015
Our banking industry has our loan loss allowance provisioning almost exactly wrong. To quote our favorite show, Game of Thrones , winter is coming. We don’t know when the cold weather will be here, maybe the first part of October or maybe around Halloween, but we know it’s coming. Since winter is coming, the question arises - How many coats should we have for the winter?
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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
SEPTEMBER 24, 2015
The Financial Accounting Standard Board’s proposed move to the current expected credit loss, or CECL, is top of mind for many of the bankers and industry experts attending the 2015 Risk Management Summit presented by Sageworks. Presentations at the conference, which kicked off Wednesday in Chicago and runs through Friday, have focused on how financial institutions will be impacted by the transition from the existing incurred-loss model, as well as what banks and credit unions can do now to bette
Celent Banking
SEPTEMBER 22, 2015
Last week I had the pleasure of going to Finovate, a biannual event (at least in NA) where start-ups and established vendors show off their newest creations. My colleague Dan Latimore wrote an in-depth piece about it last week. It’s usually a good temperature read of where the market is and what banks are thinking about. PFM used to be hot, now it barely makes an appearance.
CFPB Monitor
SEPTEMBER 28, 2015
Alan S. Kaplinsky. On Tuesday, September 29, Director Cordray will testify once again before the House Committee on Financial Services at 10 am. The Hearing is entitled “ The Semi-Annual Report of the Bureau of Consumer Financial Protection ”. While I’m not expecting Director Cordray ‘s prepared remarks to announce any new development, it seems likely that he’ll be fielding questions related to a variety of topics, including: (1) the status of the arbitration rule making in w
Independent Banker
SEPTEMBER 21, 2015
Cautiously and sparingly, only a few tread non-Qualified Mortgage ground. By Howard Schneider. Under the right circumstances, providing residential mortgages that fall outside of the new federal Qualified Mortgage definition could help a community bank grow its lending, some community bankers say. Done carefully, originating so-called non-QM loans could give some community banks greater underwriting leeway to serve more homebuyers.
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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
SEPTEMBER 29, 2015
Sibos 2015 is almost here and as Singapore beckons, Accenture is preparing for an eventful week. Key themes we expect to dominate Sibos are real-time, or immediate payments, PSD2 for the European banks and distributed consensus ledgers, with Ripple and. Read more.
South State Correspondent
SEPTEMBER 24, 2015
This isn’t a personal question, but it is a question that is growing in popularity. Knowing that efficiency is highly correlated to return, many banks, including us, are taking a look at their largest processes (like lending) and going to their Gemba to do it. With more banks adopting a Six Sigma approach ( HERE ) and with banks cutting obvious costs, now is time to reassess your banks production of credit, deposits and services.
Abrigo
SEPTEMBER 22, 2015
Republished with permission from Business Valuation Resources ( www.bvresources.com ). No two cases are alike, and different jurisdictions approach goodwill and noncompete agreements differently, cautions Jim Alerding (Alerding Consulting LLC), in response to the BVWire item on the Mauceri Texas divorce case, in which Bob Dohmeyer (Dohmeyer Valuation Corp.) was the prevailing expert.
Celent Banking
SEPTEMBER 18, 2015
When I’m feeling a bit flip, I tell clients that Celent goes to a lot of conferences so that they don’t have to. Don’t get me wrong: conferences are worthwhile, and you have a lot of serendipitous conversations. But they’re also time away from the office, and, to be honest, not every minute is completely productive. With that in mind, I’ll describe my very-high level takeaways of Finovate Fall 2015, held earlier this week at the New York Hilton.
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SWBC's LenderHub
SEPTEMBER 28, 2015
The title of this week’s post comes from a quote from the dearly departed baseball legend Lawrence “Yogi” Berra. Apparently, Yogi spun that gem of a line when giving a friend directions to his house in New Jersey. However, those “directions” might as well have come from the Fed last week. The Fed’s mixed messages on their view of the U.S. economy, the state of other nations’ financial markets, and their intentions for monetary policy for the remainder of 2015 have left investors and traders as c
Independent Banker
SEPTEMBER 22, 2015
Candace Jones. Security Officer and Appraisal Compliance Coordinator Manager. For the $510 Million-Asset. The First National Bank and Trust Co. in Chickasha, Okla. IB: What does your job as a security officer for The First National Bank and Trust entail? Jones: My role as security officer is to create and maintain a security policy to ensure our bank’s compliance with the Bank Protection Act; to provide a security program that will protect each bank from robberies, burglaries and larcenies; and
Accenture
SEPTEMBER 10, 2015
In an earlier post I talked about risk management spending and whether money is being allocated to the right places. Managing the investment across finance, risk and technology is important, but it isn’t the only step banks and financial institutions. Read more.
South State Correspondent
SEPTEMBER 23, 2015
We visit hundreds of bankers each quarter, and we note some of the following industry pressures: margin compression, decreasing credit standards and lack of earning assets. To combat these challenges, bankers are deploying various strategies, which include, adding business lines, hiring better talent, consolidating assets, streamlining some long-held processes and upgrading systems.
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