August, 2014

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Wearables – banking hype or opportunity?

Celent Banking

'Lately there has been much fanfare around wearables. From Google Glass to smartwatches, there has been no shortage of press releases, articles and hype surrounding these devices. I must say that I personally find all of this stuff amazingly cool, and love trying out new things. I am also super excited about the Moto 360 smartwatch and will likely pick one up when it launches.

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Take Charge: Combat Call Report Encroachment with ICBA Petition

Finer Points

'Before I was ever a community banker, I was a cadet at the Virginia Military Institute and an officer in the U.S. Army. One of the core principles instilled in me during my military training was the importance of never giving up ground—of always looking for opportunities to take ground from the enemy. Well, in […].

Virginia 157
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Better Together (Part 1 of 3)

Matt Wilcox Pro

'428 Reasons Digitally Engaged Customers Matter Hint: Each reason is a percent If an average 428 percent increase in fee income is small potatoes to your bank, you can skip this article and my breakout session at next month’s ABA Marketing and Retail Conference. I won’t be offended. After all, the other breakout [.

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The Non-Traditional Bank

Jack Henry

'Author: Danny Payne, DanPayne@jackhenry.com. The community banks and credit unions have always been fighting “the good fight” for customers/members. Providing a viable online and mobile solution has been the recent focus for most FIs fighting to compete. These banks and credit unions are competing against the Chases and Bank of Americas of the world.

Google 108
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Execute the Lip Service Out of Your Digital Transformation

Gonzobanker

'If information is the new currency, why don’t we treat it as such? For decades banks built layers of dual control checks and balances for staff that handle the Benjamins. We have paid couriers millions to move bags of greenbacks between branches. Yet now that information has supplanted the almighty dollar as the critical factor for achieving a competitive advantage, we apparently could care less as we watch this new digital currency fall from the back of the armored truck and blow down the info

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Actual vs. Perceived Value (Behavioral Economics)

Celent Banking

'Our humanity, as individuals and as consumers, continues to fascinate me, particularly as it relates to our irrationality. My dad would drive miles out of his way to save 2 cents per gallon of gas, just for the principle of it (whatever that principle was!). Behavioral economists, of course, have been onto this for years. For some accessible perspectives on the subject, try one of the following: Thinking, Fast and Slow, Kahneman, 2011.

Course 178
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Enough already with the “Branch of the Future”

Banking 4 Tomorrow

'Whether it is Bank of Queensland with their Hipster Branch launch, Citi’s famedApple-Store Branches, NAB’s Crowd concept, Unicredit “Branch of the Future” in Italy and Bulgaria, PNC’s Tellerless Branches, smaller regional players likeSouth Shore Bank and ConestogaBankWerx, or the launch of Video-Interactive Teller’s for TEB, Ion Bank, Banca Popolare and others, we seem to be hearing about new ‘Branches of the Future’ constantly. […].

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Better Together (Part 3 of 3)

Matt Wilcox Pro

'Launching digital banking: some bullets Hint: Your future is at stake This is the final sneak peek at my presentation at next month’s ABA Marketing and Retail Conference in Orlando. My session, “Better Together: Marketing Mobile and Tablet Banking with the Help of IT,” is on Sunday, September 7, at 3:45. In [.

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Lending Officer Pain Points

Jack Henry

'Author: Clarke Farmer, CFarmer@ProfitStars.com. My family recently vacationed in the mountains. The highlight of the trip was our hike to the summit of Wheeler Peak near Taos, NM. As you know, a stroll up to 13,161 feet can become quite dangerous in July if one lingers too long to enjoy the view. It didn’t seem to matter how prepared we were for the hazards of the journey, I still couldn’t get my wife and kids down that mountain fast enough when the afternoon storms started brewing.

Lending 89
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The State of Automation in Financial Services 2024 Report

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

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Lack of an M&A Strategy May Leave You Dateless at the Prom

Gonzobanker

'In 1984 a record high 18,000+ banks existed in the United States. Thirty years later we find that the number has plummeted to 6,700 with all indication pointing to further consolidation. The vast majority of exits came from banks with less than $100 million in assets, and more than 10,000 of these institutions left the financial services landscape between 1984 and 2011 due to mergers and failures.

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vBlog: Bankers. What's Your Criteria for Your CEO Search?

Jeff For Banks

'Bankers and Credit Union executives and Board members, be careful when limiting your choices for your next leaders. Because you might get what you asked for. What traits and experience do you think equates to success? ~ Jeff YouTube link in case you can''t view on your device. https://www.youtube.com/watch?v=weOl8ceXHzg.

Groups 94
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Innovation in Spain: A Way Forward for Banks Globally?

Celent Banking

'Innovation is global. This isn’t too revolutionary of an idea, neither is it new nor original. Yet, increasingly, conversations with banks, especially in the US, reveal that many institutions aren’t looking too far outside of their market, let alone their vertical, industry, or country, for inspiration on how to innovate. In effect, this is giving an outsized impression by bankers of innovation in banking.

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How to Write a Social Media Policy for Your Financial Institution

Long Lasting Ideas

'The expansion of social media in the workplace and for personal use has made it vital for financial institutions to include a specific social media policy within its policies and procedures. In the past it was easier to manage social media use by restricting access to sites on company systems, but smart phones and the acceptance of using social media in marketing communications has changed the landscape.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Better Together (Part 2 of 3)

Matt Wilcox Pro

'Musts for launching digital banking services Hint: Be a marketer This is the second of three sneak peeks at some of the points I’ll cover in my presentation at next month’s ABA Marketing and Retail Conference. Note that I said “some of the points.” For the whole shebang, I hope you’ll join [.

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Mobile Remote Deposit Capture: As Good As It Gets?

Jack Henry

'Author: Barbara Vega, BVega@profitstars.com. The advent of the Check 21 Act in 2004 spawned the growth and popularity of remote deposit capture. Initial offerings existed with branch capture, then the expansion to large and medium commercial customers. Remote deposit use has grown quite rapidly. Roughly 62 percent of banks in the United States offered merchant remote deposit in 2009 and nearly 90 percent have adopted the technology today.

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5 Reasons not to link your Bank and Mobile money accounts

Bankelele

'Safaricom, the mobile money market leader with M-Pesa with 19 million customers has partnerships with 30 banks and 160 financial institutions as per their 2014 annual report that notes The new (API) platform (launched in January 2014) helped streamline operations for businesses that disburse staff salaries through M-PESA, as well as those that receive payments through M-PESA and need to move cash to their bank accounts on a regular basis. .

Mobile 62
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Four Ideas on Bank Retail Investment Sales

Jeff For Banks

'Bank Investment Consultant magazine recently published the results of a bank/credit union investment sales benchmarking report from Kehrer Bielan Research and Consulting. The report, as cited in the article , (via @CUInsight) stated credit union investment revenues equated to $360 per million in share deposits, and that number was 21% greater than in banks, implying bank reps achieve $298 per million in deposits.

Retail 90
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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The Shift In Branding

Your Full Potential

'(Part 2 of a 3 in a series). The best organizations are encouraging and rewarding their customers for helping them to build their brands. In essence, the ecstatic (not merely satisfied) customers are becoming unofficial employees and very official brand ambassadors for the companies. How can you create that dynamic at your organization? Here are 3 suggestions: Generate & maintain enthusiasm – this doesn’t only go for your employees.

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The 40 Fintech Graduates from Y Combinator (YC)

Fintech Labs Insights

'By most measures, Y Combinator (YC) is far and away the most important incubator in the technology space. Graduating from there is like facing the job market with a resume boasting summer internships at Google, Facebook AND Goldman Sachs. You are almost guaranteed a multi-million funding. Fintech (note 1) has been part of YC from the beginning. The first class (Summer 2005) included one fintech startup, TextPayMe, among the eight companies.

Fintech 26
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Branching Into Social Media

Social Assurance

'Social Media is no longer a person nor is it a department. In a time where branches are closing and many banks are moving to become more centralized, social media is decentralizing. This year’s ABA conference in Florida holds an opportunity for bank marketers to to realize the impact of a growing movement of creating enterprise-wide social strategy.

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Consumer Use of Cell Phone to Make Retail Purchase

The Raddon Report

'Consumer Use of Cell Phone to Make Retail Purchase.

Retail 15
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Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.

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Idea Exchange: Scholarships, Fellowships to Apply For

Bankelele

'Applications are open for Chevening Scholarships 2015/2016. The Scholarships offers the opportunity to study for a one-year Master’s degree at leading UK universities and are awarded to outstanding established or emerging leaders across a wide range of fields: including Public Policy/Governance, International Law, Energy/Environment, Human Rights and Journalism.

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The Law of Large Numbers for Banks and Credit Unions

Jeff For Banks

'While a colleague and I sat patiently waiting for our flight, we were discussing an upcoming strategic planning session with a client. He asked what I thought were their chances of success. I thought their future was bright, but pointed to a couple of headwinds working against them. One of them was the law of large numbers. The law of large numbers in banking requires ever more asset generation as the bank becomes larger to sustain growth.

NJ 90
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Experiential Marketing: Beyond the Survey

Your Full Potential

'Part 1 of 3 in a series. Isn’t marketing about colors, and paper, and design? Perhaps. But it has to be much more than that now. That’s why your organization’s marketing executives and employees need to be smarter, innovative, and strategic. If all you have is a marketing person that either can’t do or is unwilling to do much more than design pretty flyers (and Heaven help you if you’re still taping things to doors and walls,) then it’s time to get someone that has the required skills to bring

Survey 47
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Last Chance for FinovateFall 2014 Early-Bird Tickets!

Fintech Labs Insights

'FinovateFall 2014 is just six weeks away and the buzz is building. After announcing the impressive roster of presenters a few weeks ago we''ve seen a substantial surge in ticket sales. Based on that surge, we''re now projecting a Finovate record audience of over 1,300 innovators, entrepreneurs, executives and investors! If you''re interested in attending to see the future of fintech debut live on stage, the last chance to get your ticket at the early-bird price expires this Friday.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.