Sat.Feb 21, 2015 - Fri.Feb 27, 2015

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10 Steps To A Relationship Deposit Account Makeover

South State Correspondent

'In the quest for greater profitability, one strategy that we are employing here at CenterState Bank is the move to be less transactional and more relationship based products. While lots of banks say they are about the relationship, few banks can point to anything more concrete other than delivering “the personal touch.” Having good people and an accessible CEO is just the price of entry for relationship banking.

Strategy 235
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Business-valuation methods matter

Abrigo

'By Brad Spence, Director of Enterprise & Valuation Teams, Sageworks. Think performing quality business valuations is important? Consider this statistic: Roughly one in every three business-sale engagements for brokers over the last 12 months ended without a transaction, and unrealistic asking prices were a major factor in the failed deals, a recent survey says.

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Towards an OS/ Device-based Mobile Wallet

Celent Banking

'Over a year ago, we published a 2014 edition of our annual Top Retail Payment Trends Report ( 2015 edition is here ), in which we distinguished between app-based wallets – majority of mobile payments solutions in the market at that point – and device-based wallets. We suggested that payments would become ever tighter integrated into the device and the operating system (OS) and that we will see the emergence of device-based wallets, “which store securely on the phone a token as

Mobile 152
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The New Rules of Engagement

Independent Banker

'Winning connections with Gen Y customers come with a few unspoken protocols of marketing and communication etiquette. By Kathryn Jackson Fallon. Four Rules of Engagement. 1. Seek permission. Texting millennials enters their private zone. Ask permission before texting or emailing them, and don’t abuse the privilege of your direct access with over-communication. 2.

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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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The Idea Vault: A Bank Best Practice

South State Correspondent

'One of the biggest assets a bank has goes untapped in probably 95% of banks. Everyday term sheets are produced on loans, customer problems are handled and new ideas arise. Unfortunately, management hasn’t put a system in place, and because bankers are busy it is hard to carve out 20 minutes to share their experience and knowledge with their co-workers.

System 224

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Samsung’s acquisition of smartphone payment solution vendor LoopPay

Celent Banking

'Last week, Samsung announced the acquisition of LoopPay, a US-based smartphone payment solution vendor. It has been receiving attention as it may be poised to bring further growth to Samsung’s smartphone. The strength of LoopPay technology is broad versatility. Its technology enables smartphone payment at a touch to a magnetic card reader. Most existing smartphone payment services require the implementation of a dedicated payment terminal, and ApplePay is not an exception.

Samsung 143
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VendorDirt: The Big 4 in 2015

Gonzobanker

'In January a lifelong friend of mine married a super cool woman he met on a blind date. No Tinder, FarmersOnly, eHarmony, or ChristianMingle – just a good, old-fashioned love match arranged by a mutual friend. Ah… love. Makes you think of your core vendor, no? Core vendors are kinda like a blind date. You envision a gorgeous, funny and smart mystery person, but really you just hope your date’s visible scabies scarring is minimal and that you don’t end up hog-tied in the back of a creepy p

Phoenix 92
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3 Ways to Improve Your Bank’s Board

South State Correspondent

'If you want an eye-opening experience, at your next bank board meeting ask your board three questions: 1) What is your bank’s long-term strategy; 2) What is the current value proposition; and 3) What are the major changes that are currently taking place in the banking industry? Chances are you will be disappointed. Your bank is not alone, as we routinely ask the above questions to bank boards during strategic planning sessions all across the country and find the answers lacking.

Meeting 223
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Young Lenders and the Groundhog Syndrome

Jack Henry

'Author: Clarke Farmer, CFarmer@ProfitStars.com. CEOs and Chief Lending Officers, have you ever met a young lender that seemed to see his/her shadow while out on a business development call? Then, just like the groundhog, that lender will retreat back to the burrow with nothing more than a prospect’s business card. If so, then you are not alone. In the last 60 days, I had several conversations with bank executives in Minneapolis, Oklahoma City, Fresno and Atlanta on that very topic.

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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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Start-up of internet-only banks in South Korea

Celent Banking

'South Korea’s government has begun to move to permit internet-only banks. It is in discussion with a group of financial institutions, vendors and other institutions, and the outline for internet-only banking services will be set up around April. In South Korea, most banks, we can say all banks, already offer direct banking including internet, mobile and smartphone, and many customers are accustomed to them.

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An Opportunity to Collaborate? The CFPB’s credit report study

CFPB Monitor

'Stefanie Jackman. On February 19, 2015, the CFPB released its credit report study, entitled “ Consumer voices on credit reports and scores.” After conducting focus groups with 308 consumers in four major metropolitan areas, the study concludes that while many consumers do access their credit scores and credit reports in various ways, confusion about both still persists.

Study 89
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Judging Leasing Risk in Bank Commercial Real Estate Loans

South State Correspondent

'In loan pricing and structuring, our loan trading and hedging desk often sees dozens of loans per day. We look at loans from banks all across the nation, including our own, and one area that could be improved is the quantification of lease risk in commercial real estate.

National 199
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Leadership Lessons

Independent Banker

'Carly Fiorina, former CEO and chair of Hewlett-Packard, is a keynote speaker at ICBA’s Community Banking LIVE conference in Orlando. Photo by Timothy D. Easley. ICBA convention keynote speaker Carly Fiorina, a former Hewlett-Packard chief, shares her perspective on business innovation and leadership. Carly Fiorina made headlines in 1999 as the first woman to lead a Fortune 500 company.

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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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How to make your bank the envy of the Peppered Moth

Matt Wilcox Pro

'Ever sat down for a chat with a Peppered Moth? Prior to the Industrial Revolution, the Peppered Moth flourished in the forests of England. Well, the light-colored ones did. They alit on tree trunks and blended in. Life wasn’t so easy for their dark-colored siblings. They struck such a contrast with the surrounding trees that they [.

How To 76
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Supervisory or enforcement action: Deputy Director Antonakes explains how the CFPB decides

CFPB Monitor

'Barbara S. Mishkin. In his prepared remarks for an appearance last week at the Exchequer Club, CFPB Deputy Director Steven Antonakes discussed the CFPB’s risk-based approach to supervision. (The Exchequer Club’s members include senior professionals from trade associations, federal regulatory agencies, law firms, congressional committees and national press.).

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Don’t Misinterpret Chase’s News About Branch Closures

Javelin Strategy & Research

'Many of the headlines in the wake of J.P. Morgan’s investor day fixate on the news that the banking giant plans to close hundreds of bank branches. On the face of it, that is factual. But this is akin to focusing on layoffs without accounting for hiring in other parts of a company that can drive future growth and employment. The reality is Chase’s news is an example of getting leaner, not lopping.

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What Goes Up …

Independent Banker

'Coping just fine, community banks in energy-producing regions manage the oil-price plunge. By Howard Schneider. Crude oil prices have dropped more than 50 percent from last July to this January, and they haven’t hovered this low since 2009. Yet community bankers serving the oil industry say they’ve been expecting a drop in the notoriously cyclical price of crude.

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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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What Does 2015 Bring for EMV and Payments?

Banking 2020

'2014 marked the year we became all too familiar with terms such as data breaches, data protection and payment solutions, thanks to high-profile security breaches to Target, Staples, Kmart, and The Home Depot, to name a few. So, what has changed a year after the Target breach, besides costing the company tens of millions of dollars, losing customer loyalty, and leaving almost 12 million consumers vulnerable to identity theft?

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Director Cordray speaks to the National Association of Attorneys General

CFPB Monitor

'Barbara S. Mishkin. As he has done in prior years , Director Cordray spoke earlier this week to the National Association of Attorneys General. His prepared remarks focused on the familiar theme of “the four Ds” that create obstacles for consumers in the financial services marketplace–deceptive marketing, debt traps, dead ends, and discrimination.

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The Only Thing to Hate About Personal Finance Management Is the Term ‘PFM’

Javelin Strategy & Research

'A little startup called Digit is getting a bit of ink these days for making saving money as easy as finding loose change between your sofa cushions. But it’s also providing the latest fodder for those who say, “Can’t we all agree that PFM is dead?”. You’ll get no grief from me if we put a stake in the term “PFM.” It’s a term that causes many bankers to lock up mentally because they can’t envision a way for personal finance management to escape the historical shackles of old-fashioned PFM in a t

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Fine Points

Independent Banker

'The Time Is Now. By Camden R. Fine, President and CEO of ICBA. Community bankers aren’t the only ones who think so. Nearly everyone in Washington now agrees, to one degree or another. Most members of Congress, including the leaders of both political parties, say it’s time. Top regulators also concur, and some have even offered a proposal or two of their own.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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New Tech for Old Folks

Banking 2020

'Here’s a fun little stat from across the pond: The oldest customer of financial services conglomerate HSBC to have downloaded its banking app is aged 108. Ok, so that just qualifies as a novelty item, but it’s part of a larger report from the British Bankers’ Association that focuses on the growing phenomenon of online banking among older consumers.

Online 68
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Passwords, so “123456gone”

ABA Community Banking

'Biometric authentication—and beyond—gain traction Risk Management Blogs Making Sense of it All Security Cyberfraud/ID Theft.

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Another study raises questions about possible CFPB payday loan limits

CFPB Monitor

'Alan S. Kaplinsky. We recently wrote about two studies , one by Professor Ronald Mann and the other by Professor Jennifer Lewis Priestley, that cast serious doubt on the benefit to payday loan borrowers of an ability-to-repay requirement and limits on rollovers for payday loans, two elements that the CFPB is expected to include in its payday loan proposal.

Study 65
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Portfolio Management

Independent Banker

'Total Return. A combination of factors determine every bond’s ultimate performance. By Jim Reber. During my 20-plus years of dealing with community bankers, either as an investment strategist, sales rep or business-development manager, I have come to understand that certain buzz words fall on deaf ears. As a consequence, supply-siders, like your bank’s brokers, tend to avoid using them during a sales pitch.

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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.