Accenture
DECEMBER 8, 2015
Pricing and rewards points are the top two incentives for consumers to increase their use of mobile payments according to our 2015 North America Consumer Digital Payments Survey. But incentives like these do not guarantee lasting customer loyalty for payment. Read more.
Abrigo
DECEMBER 31, 2015
A favorite principle that financial advisors like to discuss is “compounding”: How saving a little now can help magnify your returns down the road as the interest or the investment gains multiply. This concept of compounding is appealing. After all, who doesn’t like to get back more than they put into something? Undoubtedly, many accounting firms providing periodic reviews of their marketing budgets seek ways to get more out of what they are investing in marketing.
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South State Correspondent
DECEMBER 28, 2015
When it comes to loan authority structure, six banks will do it six different ways. Loan authority is granted from a bank’s Board of Directors and gives each credit line position a certain amount of lending authority to approve the loan. While a front-line loan officer may have $500k in authority, their boss, the Chief Credit Officer, may have $5 million.
Celent Banking
DECEMBER 29, 2015
In previous blog posts regarding fintech in Latin America my position was, and remains, that one of the reasons for being behind is that it lacks of a “Silicon Valley” equivalent. Efforts to create a fintech ecosystem, as Finnovista is doing, become a good alternative to overcome the absence of a geographical pocket of innovation. Particularly consider the market fragmentation of Latin America comprised by 19 countries, some of which have 3M inhabitants to Brazil having +200M.
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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
DECEMBER 18, 2015
Some might be surprised to learn that I’ve encountered circumstances so unbelievable I’ve been left speechless (hard to believe, I know), but last Thursday was one of those times. After years of meeting with the Financial Accounting Standards Board (FASB) to raise concerns about the harmful impact of its proposed accounting reforms on community banks, […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
DECEMBER 14, 2015
In my previous post about cyber risk, we talked about the pervasiveness of cyber risk. We recognized that most businesses will not be able to entirely prevent a breach—and should instead focus on resiliency, or “bounce-back-ability” in the face of. Read more.
Abrigo
DECEMBER 28, 2015
Let's assume, for the purpose of this article, that you are operating a successful valuation or accounting firm. Or, perhaps you're an M&A professional or business broker, but no matter the nature of your work, you have a cash flow positive, successful organization. Yet your work valuing businesses and advising owners has made you painfully aware that competition is always around the corner.
South State Correspondent
DECEMBER 27, 2015
When we asked bankers what made a difference in 2015, we wanted to highlight one of the best pieces of advice that was given to us and that some bankers put into practice this year. In the quest to build a better bank, there are two questions that the answers can help your bank hone in on what is important.
Celent Banking
DECEMBER 17, 2015
A story on Finextra this week caught my eye. It’s a survey carried out by YouGuv on behalf of ACI Worldwide, with these headline stats. Of 2000 UK adults, the survey found that: 88% have no intention of switching bank accounts within the next 12 months. 82% never use mobile payment services such as PayM or PingIT during an average month, 59% never use mobile banking within this same time frame.
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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
Independent Banker
DECEMBER 29, 2015
Community bankers offer real-world reasons for more Basel III relief. By Karen Epper Hoffman. Nearly one year after the Basel III capital rules went into effect, community bankers say that now recognize just how much more complex and how much more difficult this new set of capital rules will make life and business for them if they remain in place. Of course, Basel III—otherwise known as the Third Basel Accord—is a global regulatory framework on bank capital adequacy, stress testing and market li
Insights on Business
DECEMBER 10, 2015
Steamer Lane, which is named after the steam powered boats that motored past it in the 1930’s, serves as the epicenter of Santa Cruz surfing with its cool blue water from the Pacific. Standing at the beachfront of Steamer Lane, Karthik, an adroit surfer gazes the ocean for signs of high tide. The waves ebb as time flows and he starts to realize that the sun and the moon failed to proffer high tide churning gravity that day leaving him disappointed.
ZootBlog
DECEMBER 14, 2015
As we approach the New Year, industry analysts and financial experts are rushing to publish their predictions for 2016. Before fixing our gaze entirely on the future, let’s review the trends that dramatically affected the financial industry in the past calendar year. Learning how to harness big data and make it useful, complying with EMV, and understanding the impact of mobile wallets and disruptive competitors were just a few that made headlines.
Abrigo
DECEMBER 23, 2015
By Adam Blitz, Principal and Consultant at GetBlitzed Solutions CPA’s can be invaluable. However, CPA’s often dive into accounting work that only meets the compliance requirements. It’s common knowledge that clients need tax returns or financial statements completed and submitted in a timely manner. It’s also well known that the information derived from these resources can be crucial in strengthening a client’s ability to reach their goals.
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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
DECEMBER 22, 2015
Who doesn’t like the Frank Capra classic It’s a Wonderful Life ? It is not only about a banker doing good, but it has all the elements of a great story – good opening, interesting characters, a high story arc, conflict and satisfying resolution. Not only should every banker keep the classic in mind because of the heartwarming story, but the film holds the key to better bank marketing.
Celent Banking
DECEMBER 15, 2015
The recent article in Finextra , mBank to spend EUR17 million on new network of ‘Light’ branches , prompted this post. At first read, I thought this was a story about a celebrated direct bank building a branch network. Well, not exactly. About mBank. mBank is no stranger to Celent. It has received two Celent Model Bank awards. In 2014, Celent recognized mBank’s digital platform redesign and in 2015, Celent recognized mBank’s Bancassurance initiative.
Independent Banker
DECEMBER 29, 2015
ICBA warns of risks of online marketplace lending models. By Howard Schneider. Online marketplace lenders are a new form of nonbank specialty lending that uses technology platforms to allow Wall Street and individual investors to directly fund loans to consumers and small businesses. Automation and novel data analytics dictate their credit decisions and typically high-cost pricing and fees, and higher defaults are often built into their lending models and decisions.
Insights on Business
DECEMBER 22, 2015
This past Thursday The Linux Foundation, IBM and several major Banks and Tech firms made an exciting Blockchain announcement. The Open Ledger Project , as it is known, will be looked back on as a pivotal moment in time. The most important driver behind this initiative is making Blockchain real for business … developing the technology as fast and securely as possible to allow industry to realize the huge potential that Blockchain and shared ledger technology can have.
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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.
ZootBlog
DECEMBER 29, 2015
There are numerous examples of EMV gone awry as the roll out, rolls on. Secure for card-present transactions, yes, seamless, no. On a bustling pre-holiday evening during a crowded Christmas Stroll, there was no time for merchants to be delayed when it came to payment processing. My colleague attempted to use his new EMV chip-enabled card to make a purchase.
Abrigo
DECEMBER 22, 2015
Depending on the size of your bank or credit union, your credit department may be set up in different team structures. It might even be just a few people with shared responsibility. If your institution underwrites and reviews enough loans annually, it’s likely that you have adopted some type of spreading, ratio analysis or global software designed to help you identify and measure credit risk in potential and existing borrowers.
South State Correspondent
DECEMBER 21, 2015
To understand the point of this article, you are going to have to go out and purchase the two t-shirts in the picture. Both have the following selling points: “100% cotton,” “Ribbed crew neck,” and, get this for clarity – “short sleeves.” The one on the right will set you back about $3.16 and can be purchased at Target, JC Penny’s or wherever fine underwear is sold.
CFPB Monitor
DECEMBER 30, 2015
Richard J. Andreano, Jr. Reacting to reports of investors refusing to purchase loans based on various, often technical, violations of the TILA/RESPA Integrated Disclosure (TRID) rule, the Mortgage Bankers Association (MBA) sent a letter to the CFPB on December 21, 2015 seeking guidance to allay investor concerns. (The version of the letter released by the MBA does not include the attachment referenced in the letter.).
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.
Independent Banker
DECEMBER 28, 2015
Prepare now for expanded HMDA data reporting in 2019. By Richard Horn. In October, the Consumer Financial Protection Bureau released its long-awaited amendments to its Home Mortgage Disclosure Act rules. The CFPB implemented the Dodd-Frank Act’s revisions to HMDA, but also used the bureau’s discretionary authority to add even more data points and change the rule’s scope and reporting requirements.
Insights on Business
DECEMBER 8, 2015
Ever had that feeling that you’re falling behind the curve when your neighbor/friend/relative shows up with the latest car, phone, home network, smart watch or other cutting-edge device? The same sentiment is striking businesses as new technology and online competition upend established business models. The music and publishing industries are the most vivid examples, but financial services entities are also feeling the competitive pressure.
Jack Henry
DECEMBER 30, 2015
Author: June Middleton, JuMiddleton@jackhenry.com. Retailers, hospitals, government agencies, and details of their data breach woes continue to appear in news and social media headlines, and the pace of the data breach announcements appears to be speeding up, instead of slowing down. Organizations continue to spend thousands (if not tens of thousands of dollars) on technical security controls (firewalls, intrusion detection/prevention systems, anti-virus/anti-malware programs, encryption, access
Abrigo
DECEMBER 17, 2015
When accountants go to client meetings they run the risk of either going in without a plan or fail to innovate their usual tactics for understanding their client. Since most business owners view accountants as a commodity , prioritizing the ways you communicate with your client during your annual or quarterly meetings is critical to displaying your value.
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