Accenture
OCTOBER 19, 2015
At last week’s panel session hosted by Accenture at Sibos 2015, six experts from different perspectives and regions shared their thoughts on real-time payments. Let’s start with the UK which is the gold standard for real-time payments. The emphasis on. Read more.
Abrigo
OCTOBER 30, 2015
With the recession fading into the more distant past, banks – in particular, community banks – have seen several years of loan growth. Banks, according to Comptroller of the Currency Thomas Curry, are starting to reach for additional growth by lending to less creditworthy borrowers, a move that increases risk to the institution. Speaking last week to the Exchequer Club , Curry said, “It’s the point in the cycle where we customarily see an easing of loan underwriting standards , as banks drop or
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South State Correspondent
OCTOBER 28, 2015
One of the best lessons that we have learned when it comes to bank marketing is not every potential customer should be a customer. Of course, what that means is that at some point you have to tell a profitable customer that we are not the bank for them and make the introduction to a competitor. This is hard to admit, particularly when you see a customer with strong deposit balances and a healthy appetite for loans that really want to do business with you.
Finer Points
OCTOBER 26, 2015
Congress is an intentionally deliberative body. It was structured by our founders to ensure collective participation in shaping government policy, and sometimes that allows certain factions to disrupt the legislative process purely for their own self-interest. Such is the case with the retail industry sidelining the debate over data security by resuscitating tired and largely […].
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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
Celent Banking
OCTOBER 23, 2015
We’re smack in the middle of conference season and the team has been traveling all over the world. We’ve been busy with Sibos and BAI (unfortunately held at exactly the same time), AFP , and next week, Money20/20. In only its fourth year this new conference had to move to a new venue so that it could avoid running afoul of the fire marshal. Given the excitement around the payments ecosystem, we think it will be an exhausting whirlwind of a week.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
OCTOBER 7, 2015
Change is non-negotiable for retail banks to thrive in the digital banking era. But meaningful change cannot happen without leaders who are willing to change too. This is especially true for the agile bank—a disruptive retail bank that is customer. Read more.
Abrigo
OCTOBER 28, 2015
A significant amount of planning is typically involved before most major events. For example, D-day, the most comprehensive invasion to ever take place, was planned and scheduled with extreme detail months before its execution on June 6, 1944. Likewise, accountants each year experience a tax season that requires detailed planning and precise execution.
South State Correspondent
OCTOBER 27, 2015
When it comes to setting a commercial loan’s maturity and amortization, banks tend to rely on tradition. Given tighter spreads and more competitive lending, it is more important than ever to have a working knowledge of how maturity, amortization, risk, loan structure and pricing interplay to produce the highest risk-adjusted return. As we have covered in the past ( HERE ), balloon structures inject liquidity risk into the loan equation and often hurt profitability.
CFPB Monitor
OCTOBER 30, 2015
Barbara S. Mishkin. The CFPB has announced that it will be holding an event about retirement planning with the Social Security Administration in Washington, D.C. on November 12, 2015. After remarks from Director Cordray and Acting Commissioner of Social Security, Carolyn W. Colvin, the event will feature an expert panel discussion about retirement planning.
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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
Celent Banking
OCTOBER 21, 2015
Our friends at PaymentsUK have released their latest forecasts , the ever excellent UK Payments Market 2015. Whilst we don’t have a copy of the full report (hint, hint…), the press release does give us some interesting insights. For example, payments will hit 44 billion transactions a year by 2024. This is a net growth of 3.4 billion, which hides significant and continued declines in both cash and cheque usage (53% to 33%, and 1.1% to 0.4% respectively).
SWBC's LenderHub
OCTOBER 29, 2015
Collections and how we collect a debt have changed dramatically over the last 10 years. In the collections industry, we are accustomed to using skip tracing tools such as LexisNexis, Accurint, Credit Reporting, as well as the traditional methods of calling co-signers and references. We have added tools to our arsenal over the years, but have you ever considered adding Social Media to your collection mix?
Accenture
OCTOBER 26, 2015
Every industry is scrambling to capture Millennial mindshare, and retail banking is no exception. Consider the sheer numbers and earning power of 18 to 34 year olds. Millennials now officially outnumber Generation Xers in the US labor force, according to. Read more.
Abrigo
OCTOBER 23, 2015
Some financial institutions consider stress testing the loan portfolio as one more regulatory issue to address, but that view is short-sighted, according to John P. Behringer, McGladrey’s national leader for credit risk services. Portfolio stress tests can provide a number of benefits beyond compliance with regulatory expectations, Behringer said recently at the 2015 Risk Management Summit hosted by Sageworks.
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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.
South State Correspondent
OCTOBER 26, 2015
Let’s be honest, banks currently struggle turning themselves into sales organization. We know we can improve. The good news is that most bankers really care about the customer and strive to do the best by them. However, when it comes to understanding the sales process, there is much to be desired. Part of the issue is training bankers not to be sales people, but to be true financial advisors.
CFPB Monitor
OCTOBER 29, 2015
Alan S. Kaplinsky. The CFPB has now taken two more significant steps towards issuing a proposed arbitration rule. On October 20, 2015, the CFPB convened its Small Business Regulatory Enforcement Fairness Act (SBREFA) panel to review the proposals it is considering for regulating the use of arbitration agreements in certain consumer financial services contracts.
Celent Banking
OCTOBER 16, 2015
If it’s October, it must be conference season. The month started innocently enough: a visit to Nashville for the Computer Services, Inc. annual client conference. By virtue of endless industry consolidation over the past 30 years, CSI has been initiated as a full member of the Big-5 fraternity of core banking systems providers, and Celent will be adding their flagship NuPoint banking solution to our pending updated coverage of core banking systems solutions.
ZootBlog
OCTOBER 28, 2015
EMV, is anyone tired of hearing about it? Perhaps we just haven’t heard what consumers need to know. You can’t attend a financial industry conference or read any banking publication these days without some mention of EMV. While the conversation might be getting tiresome, there are some important aspects of the shift that seem to be getting lost in the clamor of who is and who isn’t compliant.
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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
OCTOBER 21, 2015
Banks hoping to build a strong, reliable Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) approach should focus on a number of strategies and actions—including developing an efficient operating model. In our view, a good operating model is essential to. Read more.
Abrigo
OCTOBER 22, 2015
Banks and credit unions rely on their borrowers for updated information, which they in turn use to make accurate credit decisions. Financial statements, tax returns, collateral appraisals, rent rolls, loan agreements, economic data, credit reports, images, etc. all factor into credit decisions, making document and data management a big deal for bankers.
South State Correspondent
OCTOBER 22, 2015
For U.S. banks, unlike common equity that derives its returns primarily through appreciation; preferred equity gives an investor a return largely in the form of a fixed dividend. Thus, when it comes to valuing a bank with preferred debt, the question comes up do you treat the capital as common or more like a debt instrument? Because the dividend is largely like a coupon on a holding company loan or other debt instrument, it seems natural to value preferred equity as debt.
CFPB Monitor
OCTOBER 29, 2015
Barbara S. Mishkin. The CFPB announced that it has obtained a final default judgment against Corinthian Colleges, Inc. from the Illinois federal court in which it sued Corinthian in September 2014. In May 2015, Corinthian filed a petition under Chapter 11 of the Bankruptcy Code and in August 2015, the bankruptcy court entered an order confirming a liquidation plan.
Advertiser: Data Robot
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Celent Banking
OCTOBER 16, 2015
I am not writing this literally on the plane, but I might well be – this is a conference season, so many of us are on the road. My colleagues have already been blogging from SIBOS, Finovate, Finnosummit and other events. I wanted to share my own observations from the events I attended. EMV, tokenisation, mobile, Blockchain – these were just a few major themes discussed in depth in Las Vegas at PayThink.
SWBC's LenderHub
OCTOBER 22, 2015
Many people despise the typical salesperson. If I were to ask the average person walking down the street if they were in sales, I'd probably hear a resounding and collective, "NO!" And guess what my response would be: "Oh, you're not? Well, I hate to break it to you, but we are all in sales. Nothing happens until something is sold.". That's important so I'll say it again: nothing happens until something is sold!
Accenture
OCTOBER 14, 2015
The world of payments continues to face tremendous challenges and transformation primarily driven by technology and regulation. Think digital wallet versus paying cash, and what’s more how the digital wallet has evolved. But that’s just one part of a picture. Read more.
Abrigo
OCTOBER 21, 2015
The Federal Reserve announced it will hold a special information session later this month for accountants, consultants, auditors and others to learn more about the FASB’s forthcoming current expected credit loss model , or CECL. Steve Merriett, the Fed’s Chief Accountant, will lead the webinar discussion on Oct. 30 from 1 p.m. to 2:30 p.m. ET, the Fed said in an email notice.
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