Sat.Nov 11, 2023 - Fri.Nov 17, 2023

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How Your Bank Business Model Impacts Performance

South State Correspondent

You are likely in the process of finalizing your strategic plan. The good news is that strategy matters and your team’s time and effort in refining your strategy should pay off. The question is, how much will it pay off? That answer depends on the strategy your bank is pursuing and the underlying business model your bank chooses to leverage. In this article, we look at two very similar institutions, but ones with different bank business models, and show how their model impacts performance.

Strategy 195
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5 Key Advantages of Financial Spreading Technology

Jack Henry

In our digital age, financial institutions must facilitate swift and effortless business loan approvals, where lenders can make decisions without subjecting clients to lengthy delays. Fortunately, this is achievable through the use of financial spreading software, which not only expedites decisions but also reduces costs.

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A risk-based, time-saving approach to annual loan review

Abrigo

Streamline your annual review process Which loans need them, what processes to avoid, and how to save time working with borrowers' complex credit needs. Read the 2023 Loan Review Survey results for expert analyses of emerging trends WATCH WEBINAR Takeaway 1 Annual loan review is separate from covenant testing and underwriting, but many banks conflate these processes.

Analysis 195
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How Will We Fund That Low Rate, Low Covenant Loan?

Jeff For Banks

Emily McCormick 's ( Bank Director Magazine ) most recent Common Threads newsletter post on LinkedIn got me thinking? How did that 5.5%-6% loan, described by Jeff Rose, CEO of Ambank Holdings, get to committee or even make it past the lender? Banking is one of those businesses that requires bankers to be less stupid than their competitors. And when competitors start funding 6% loans with 5% money, they start pulling those in their competitive eco-system with them.

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How to Avoid Getting "Ghosted": Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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Community Banker of the Year: OFG Bancorp's José Rafael Fernández

American Banker

OFG Bancorp's CEO José Rafael Fernández has weathered tough times during Puerto Rico's economic downturn. Now he is hopeful that his bank can seize on the better times ahead.

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Banks embrace rewards, personalized tools for small businesses

ATM Marketplace

How can banks help small businesses? By taking lessons from consumer products and offering them rewards, tools and personalized services.

Tools 95
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How credit unions are adapting to climate change

American Banker

Whether it's bracing for a hurricane or helping members reduce their environmental impact, many credit unions are making the planet's health a focal point of community engagement.

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Loan covenants refresher: What, when, why & how

Abrigo

Support credit risk management Understanding loan covenants, when financial institutions should use them, and how to monitor them supports strong lending portfolios and credit risk management best practices. Review the 2023 Loan Review Survey results with experts and get their take on emerging trends and best practices WATCH WEBINAR Takeaway 1 Loan covenants are critical to banks and credit unions to manage credit risk, especially when borrowers face stress.

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Resilient small businesses bolster community banks' credit quality

American Banker

But high costs and any downturn in the economy could weigh on lenders and their commercial borrowers in coming months, economists caution.

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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

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Visa warns consumers about holiday fraud

Payments Dive

Better spelling on fake merchant sites and more advanced card skimmers are among the latest schemes that will be deployed by fraudsters during the year-end holiday shopping season.

Fraud 435
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Retail Deposits: Analyzing Deposit Stickiness in the Current Interest Rate Environment

Perficient

In our previous article, “ Transaction Accounts: Analyzing Deposit Stickiness in the Current Interest Rate Environment ,” Perficient’s Financial Services Risk Management and Regulatory Capabilities Center of Excellence (CoE) explored the sharp decline in transaction account balances over an 18-month period. Now, we will delve into the stability of retail deposits from the same bank over the same timeframe, determining whether they were resilient compared to transaction accounts.

Retail 221
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The true cost of fraud

Abrigo

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. Takeaway 2 A worsening economy increases the fundamentals of fraud, pressure, opportunity, and rationalization.

Fraud 195
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The Power Of Three – Using Our Updated Loan Proposal Generator

South State Correspondent

Our article last week ( HERE ) discussed the “power of three” marketing rule and how to use it for loan proposals. The rule states that human brains make better decisions when given a small selection of appropriate options but not too many to become confused. One or two options are usually insufficient, and five or more options are too many, but successful banks present three (sometimes four options) that reflect what the lender understands as the borrower’s goals in financing

Tools 195
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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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The Clearing House nabs top Fed official

Payments Dive

The new hire is tasked with boosting adoption of The Clearing House’s RTP real-time payments system, as the new rival Federal Reserve FedNow system seeks to attract clients.

System 434
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Eleventh Circuit rules consumers can recover statutory damages for willful FCRA violations without proving actual damages

CFPB Monitor

Joining every other circuit to address the same issue, the U.S. Court of Appeals for the Eleventh Circuit recently ruled that a consumer does not have to prove actual damages to recover statutory damages for willful violations of the Fair Credit Reporting Act. In Omar Santos, et al. v. Experian Information Solutions, Inc.

Report 142
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2023 ATM & Self-Service Software Trends

ATM Marketplace

The ATM and self-service industry is here to stay, but it’s no longer business as usual. We are at the cusp of a self-service revolution where market players are required to be more efficient, innovative and customer-centric than ever before. Download this report to learn more about ATM and self-service trends in 2023.

ATM 132
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Change the Game With New Ideas and Exciting Possibilities: Reflecting on 2023’s Jack Henry™ Connect

Jack Henry

Dive into fintech revelations from Jack Henry Connect! From Jack Henry Platform to Financial Crimes Defender and FedNow insights. Shape banking's future.

Fintech 122
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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra

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Lightspeed aims to fend off rivals on international stage

Payments Dive

Competing restaurant point-of-sale players have set their sights on international growth, but they’re likely to find the European market tougher than the U.S. market, Lightspeed’s CEO said.

Marketing 418
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Dept. of Education issues framework for student loan servicer accountability

CFPB Monitor

The White House signaled last week that, with the resumption of federal student loan payments, federal student loan servicers can expect to face increased scrutiny. The Department of Education issued a “ Framework for Student Loan Servicer Oversight and Accountability to Protect Borrowers ” and indicated that “[t]he framework’s strategies help the Department to encourage servicers to better support borrowers and allows the Department to hold their feet to the fire when they have servicing failur

Strategy 134
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Authentic experiences: How your brand can reach Gen Z for success and customer loyalty

ATM Marketplace

The APC Gen Z study found that Gen Z has five top demands from businesses and brands: 1. Authenticity. 2. PhysiDigital. 3. Experiential. 4. Custom. 5. Rewards.

Branding 127
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Profits in a time of inflation: what do company accounts say in the UK and euro area?

BankUnderground

Gabija Zemaityte and Danny Walker Inflation has been high in many countries since 2021. Some have said that companies have increased their profits over that period: so-called ‘greedflation’. We use published company accounts for thousands of large listed companies to look for signs of increased profits in the data. Consistent with previous analysis of aggregate incomes , price indices and business surveys , we find no evidence of a rise in overall profits in the UK – prices have gone up alongsid

Company 118
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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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Fiserv doubles down on Clover growth

Payments Dive

CEO Frank Bisignano is betting on accelerated growth of Clover’s small business point-of-sale services, even as he admitted to being “paranoid” in the highly competitive market.

Marketing 397
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Deutsche Bank looks to gen AI for coding, CX

BankInovation

Deutsche Bank is exploring generative AI within its operations as it looks to third-party startups to develop the technology. “Artificial intelligence is one of the most important technology trends for the financial industry, with significant potential to make business processes more efficient,” a Deutsche Bank spokesperson told Bank Automation News.

Trends 110
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Seventh Circuit stays order requiring Samsung to pay millions in arbitration fees

CFPB Monitor

We previously blogged about an Illinois federal district court order requiring Samsung to pay about $4 million in arbitration fees in connection with 35,000 individual arbitration demands filed as part of a “mass arbitration.” By way of update, Samsung is pursuing an appeal to the Seventh Circuit, which recently granted Samsung’s motion for a stay of the district court’s order pending appeal. .

Samsung 88
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1972 Corvette, a restoration story

Realwired Appraisal Management Blog

Once upon a time, in a quiet neighborhood nestled on the outskirts of Macon GA is my friend Sam…true story. Sam was a car enthusiast with a dream – to restore a classic 1972 Corvette.

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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