Independent Banker
JANUARY 31, 2022
Ken Finley, president of Johnson City Bank, in downtown Johnson City with Shannon Sultemeier, executive vice president (left); and Brenda Haynes, vice president/cashier (right). Photo by Dennis Burnett. With the record growth of San Antonio, Houston and Austin, southern Texas is becoming a hub for business. Here’s how four community banks are thriving in this environment.
BankBazaar
FEBRUARY 3, 2022
Is your Credit Score good enough to get a loan at competitive rates? Find out. There’s nothing like a good Credit Score to talk you up to a potential lender. A good Credit Score gives a prospective lender confidence in your ability to repay a loan or hold a Credit Card responsibly by proving your creditworthiness. Your Credit Score is a three-digit numerical denotation, ranging anywhere between 300 and 900, which is computed based on a detailed analysis of your credit repayment history, total nu
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Accenture
FEBRUARY 2, 2022
There’s more data available to banks than ever before. So why aren’t they using it to drive growth? Most commercial banks know that making better use of their data would have a significant impact on their business. As I discussed in my first post in this series, data can be used to improve a bank’s…. The post What’s threatening data-driven growth for banks?
Perficient
FEBRUARY 4, 2022
Acting Comptroller of the Currency Michael J. Hsu spoke in late January at the British-American Business Transatlantic Finance Forum Executive Roundtable regarding the regulation of crypto-assets, including stablecoins. Mr. Hsu began his speech by noting how cryptocurrency has gone “mainstream with consumers,” noting that 16% of American adults claim to have owned, traded, or used some form of cryptocurrency.
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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
Independent Banker
JANUARY 31, 2022
Southern Bancorp partners with other community banks to increase loan accessibility and financial literacy to low-income customers. Photo by Dero Sanford. As CEO of Southern Bancorp, Darrin Williams wants to promote relationships between community banks and CDFIs to create more prosperous communities. By Judith Sears. Name: Southern Bancorp. Assets: $2 billion.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
FEBRUARY 2, 2022
The U.S. Court of Appeals for the Fourth Circuit recently ruled that a mortgage servicer violated the Maryland Consumer Debt Collection Act (MCDCA) by charging a $5 convenience fee to borrowers for monthly payments made by phone or online. In Alexander v. Carrington Mortgage Services, LLC , the plaintiffs filed a class action complaint against Carrington, their mortgage servicer, challenging the convenience fees in which they alleged that the servicer had violated Section 14-202(11) of the MCDCA
Perficient
JANUARY 31, 2022
We shouldn’t be that surprised. A couple of weeks ago, Crypto.com, one of the fastest-growing cryptocurrency platforms, was hacked on January 17, 2022. One area mentioned by the company as an issue was a gap in its multi-factor authentication (MFA) system. A statement issued by Crypto.com on January 20th said, “transactions were being approved without the 2FA authentication control being inputted by the user,” and the company allowed the transactions to go through without the users providing the
Independent Banker
JANUARY 31, 2022
Photo by Pogonici/iStock. With consumer expectations seeming to evolve faster every year, community banks could consider partnering with a fintech to keep up with technological innovation. By Elizabeth Judd. Quick Stat. 71%. of bankers are either strongly interested in or already working with fintechs in digital account opening. Source: Cornerstone Advisors.
BankBazaar
FEBRUARY 2, 2022
Description: While a Credit Card is a wonderful tool for enhanced liquidity, irresponsible usage can wreak long-term damage. Here’s how to keep your card usage in check to maximise the benefits of owning a Credit Card. A Credit Card is a wonderful tool to get some extra liquidity. It gives you precious extra cash cover. Most importantly, it allows you to borrow money with an interest-free period.
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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
FEBRUARY 3, 2022
The U.S. Court of Appeals for the Third Circuit recently ruled that the application of Pennsylvania usury laws to vehicle-secured loans made to Pennsylvania residents who travel outside of Pennsylvania to obtain such loans does not violate the Commerce Clause of the U.S. Constitution. The decision could have significant implications for all providers of consumer credit whose operations involve cross-border lending.
SWBC's LenderHub
JANUARY 31, 2022
Last Week. What do you get when you cram a historic FOMC meeting, a geopolitical crisis, and a global pandemic into one week? A bloody mess, that’s what!
Independent Banker
JANUARY 31, 2022
Photo by Robert Severi. It’s hard to put my finger on exactly what makes ICBA LIVE so special, but I believe it is in a shared sense of purpose that arises whenever community bankers convene. It has been two years since we last came together in person at ICBA LIVE, and I cannot wait for this year’s convention. While virtual events have provided connection, learning and development, there’s something so special about assembling with our communities, where the energy is palpable and we are inspire
ATM Marketplace
FEBRUARY 1, 2022
It seems like Bitcoin ATMs exploded overnight. While previously only concentrated in big cities, now I see them everywhere in places ranging from gas stations to used games stores. These Bitcoin ATMs are no mere fad; in fact, they will be an enduring trend for some time for a few reasons.
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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.
Gonzobanker
FEBRUARY 3, 2022
An opportunity exists for banks to reach business customers with real solutions that solve real business problems. “Always borrow money from a pessimist. He won’t expect it back.” – Oscar Wilde. Gonzonians, as we head into a fairly uncertain 2022, one thing we can be sure of is that real-time payments (RTP) will be a major topic and strategic focus.
BankInovation
FEBRUARY 3, 2022
Deploying funny-sounding strategies like “sandwich trading,” bots have conquered much of the market for Ethereum-based digital tokens, scooping up hundreds of millions — if not billions — of dollars in trading profits over the years. Along the way, they’ve made enemies by front-running others’ transactions, something blockchain-fueled trading fundamentally permits.
Independent Banker
JANUARY 31, 2022
Despite the large number of PPP loans distributed to small businesses, funding didn’t always reach those who needed it the most. These community banks are working to fix that through microlending programs. By Beth Mattson-Teig. One of the harsh realities revealed by the flood of Paycheck Protection Program (PPP) money distributed in 2020 and 2021 is that many businesses and entrepreneurs in need of small-balance loans fell through the cracks.
TheGuardian
JANUARY 31, 2022
Multimillionaire politician and family to forfeit funds arising ‘from criminal conduct and money laundering’ A multimillionaire Azerbaijani politician and his family have been ordered to hand over £5.6m of suspect funds brought into the UK via a complex money-laundering scheme nicknamed the “Azerbaijani laundromat”. A judge on Monday ordered that Javanshir Feyziyev and his family forfeit £5.63m held in various bank accounts after ruling the funds “arise from criminal conduct” and “money launderi
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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.
CB Insights
FEBRUARY 1, 2022
Global blockchain deals and dollars shattered records in 2021. Funding grew 713% year-over-year as investors poured money into crypto and NFT startups. In our State Of Blockchain 2021 Report, we dig into global investment trends to spotlight takeaways like: What drove the biggest year in blockchain funding yet — and what’s on the horizon. The record unicorn count, unicorn birth trends, and the highest-valued startups to close out the year.
BankInovation
FEBRUARY 4, 2022
In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team looks at a new type of ransomware attack on a U.S. bank, along with an FBI warning cautioning consumers on quick response (QR) code payments. White Rabbit, a new family of ransomware, attacked a U.S. bank in December 2021. While details […].
Independent Banker
JANUARY 31, 2022
ICBA has a growing network of people and resources community banks can tap into as they continue their innovation journeys. The ThinkTECH Accelerator is one of several initiatives underway this year to foster community bank-enabled fintech partnerships. By Charles Potts, ICBA. The collaborative process is critically important to what we do at ICBA and to the future of community banking.
Jack Henry
FEBRUARY 1, 2022
Do your accountholders share their passwords? I imagine the instinctive response is “No! We’ve trained them for years!” But in reality? Absolutely they do. A recent report from Mastercard® showed that 80% of American consumers (and 90% of younger Americans) are connecting their bank accounts to technology apps for convenience and ease of experience.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
CFPB Monitor
JANUARY 31, 2022
The New York Senate has confirmed Governor Hochul’s nomination of Adrienne Harris to serve as Superintendent of the state’s Department of Financial Services. Ms. Harris has been serving as Acting Superintendent since the departure of her predecessor, Linda Lacewell, in August 2021. Ms. Harris previously served as a Senior Advisor in the Treasury Department during the Obama Administration.
BankInovation
FEBRUARY 2, 2022
According to a recent Forbes article, in 2021 we can expect the customer experience to become increasingly conversational. But what does this really mean for your business, and how can you ensure you’re set up to succeed? From acquisition to onboarding and servicing, businesses must ensure the end-to-end customer experience is better than ever – […].
Independent Banker
FEBRUARY 1, 2022
The banking industry remains in flux. 2021 introduced new challenges for traditional banks, from the added competition of digital-only entrants to shifting consumer banking behaviors and lingering fallout from the ongoing COVID-19 pandemic. However, there was one steadfast constant: the increased demand for digital banking experiences and rising digital expectations from consumers and businesses alike.
Banking Exchange
JANUARY 31, 2022
Proposed rule could strengthen transparency and quality of executive compensation disclosure says SEC chair Compliance Duties Feature Human Resources Management Feature3 Financial Research ESG.
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.
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