South State Correspondent

NOVEMBER 9, 2015

Later this month, Secretary of State John Kerry will attempt to bring peace to one of the world’s most dangerous troubled spots – a Washington D.C. Best Buy. There, mobs of discount-fueled shoppers will be viciously climbing over each other attempting to save $25 on the latest Xbox One. Kerry will no doubt realize the futility of the negotiations and head back to the Middle East where people are more reasonable.

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Washington 258

Celent Banking

NOVEMBER 11, 2015

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. The attack on JPMorgan Chase is revealed to have generated hundreds of millions of dollars of illegal profit and compromised 83 million customer accounts.

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Cyber Security Regulation Security New York 177

Abrigo

NOVEMBER 13, 2015

Banks involved in ag lending understand that the volatility of the industry – unpredictable weather patterns, variable commodity prices and more – can often lead to higher amounts of risk compared to other concentrations. Given recent news about decreasing ag incomes , combined with increasing demand for ag loans , banks need to evolve in this area of lending.

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Lending Data Analysis Policies 164

Accenture

NOVEMBER 9, 2015

Forty-six percent of consumers have already used peer-to-peer (P2P) payments, according to our recent 2015 North America Consumer Payments Survey. As adoption and usage trends evolve in the coming years, what forces will influence more widespread consumer preference for P2P. Read more.

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Payments America Survey Trends 150

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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

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South State Correspondent

NOVEMBER 12, 2015

Earlier in the week ( HERE ) we equated community bank credit ratings to toenails and substantivly showed community banks the current probabilities of default for commercial real estate (CRE) by credit risk grade. We discussed how banking is becoming more quantitative and how when rates go up, it will be the bank that correctly classifies credit, allocates capital and correctly prices risk that will have a distinct advantage.

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Community Bank Community Capital 214

Abrigo

NOVEMBER 8, 2015

Whether it’s part of a CECL preparedness conversation or part of a more proactive approach to risk management under existing regulatory expectations, the topic of “loan-level data” has repeatedly come up since the 2012 proposal from the FASB. As a result, at Sageworks, we have received many questions from our clients – banks and credit unions alike – about the steps to data preparedness.

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Management Data Risk Management Resources 164

Gonzobanker

NOVEMBER 9, 2015

By Brandi Gregory, Nick Lane & Terence Roche. Recently, your intrepid Gonzo investigators found themselves (again) in Las Vegas to get a take on payments at Money20/20. (We are rotating the team, as Misters Kilmer and Weikart reported that rehab from BAI Retail Delivery is taking a bit longer than estimated.) Maybe it is appropriate that this conference is in Vegas, since it’s a city based on one sole premise – moving money from your pocket to a casino’s pocket (a business model that

blockchain 101

blockchain Bitcoin Lending Innovation 101

South State Correspondent

NOVEMBER 10, 2015

If truth be told, community bank credit ratings are like toenails. You see them a lot, you occasionally think about them, every now and then you maintain them, you make sure they look good when you know they are going to be seen, and you only have a vague awareness of their practical use. The underutilization of community bank credit ratings is about to change over the next five years as rates go up and more sophisticated models help bankers get more quantitative about how they classify credit,

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Community Bank Community Capital 214

Celent Banking

NOVEMBER 11, 2015

CBS’s 60 Minutes ran a story recently about the hottest new Broadway musical – Hamilton (go to the 14 minute mark). It turns out that some of the research for the show was conducted at the site our Innovation and Insight Day – The Museum of American Finance. This biography underscores why we chose the Museum for our next Insight and Innovation Day (to be held April 13, 2016).

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Innovation US System Industry 147

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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

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Abrigo

NOVEMBER 12, 2015

Hectic schedules and an immense workload often prevent accountants from fulfilling their role as a trusted advisor during tax season. Time crunches mean that some strategic planning that accountants wish they could implement for their clients goes out the window during these months. Though strategic planning for clients must be put on hold during these times, there are things your firm can do to construct its business planning around tax season and open the door to firm growth.

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Taxes How To Marketing 150

CFPB Monitor

NOVEMBER 12, 2015

Dee Spagnuolo. Regulated entities should be aware of two recent developments concerning the final diversity and inclusion standards issued this summer under Dodd-Frank Section 342 by the CFPB, OCC, Fed, FDIC, NCUA and SEC. Given that the final standards have been in effect since June 10, 2015, entities should begin taking steps to incorporate them into their daily business practices and plan for their self-assessments.

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FDIC Regulation 86

SWBC's LenderHub

NOVEMBER 12, 2015

To say that employers have had a difficult task in planning for employee health benefits is an understatement. Between the landmark passage of the Affordable Care Act , the increasing costs of benefits, and the residual effects of a recession, today’s health care spectrum has become riddled with complexities and unprecedented challenges. Like many other employers, credit unions aren’t immune to these economic concerns, specifically the rising costs of benefits.

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Survey 83

Jeff For Banks

NOVEMBER 7, 2015

Me to a community banker: Why don't you offer more options than real estate secured lending to help fund early stage businesses? Banker: Because that's not community banking. I've been in this business over 20 years and still don't know the definition of community banking. What I hear most often is that community banks take deposits from people and businesses in their community and lend it to people and businesses in that same community.

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Community Bank Community Baltimore Lending 82

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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.

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Jack Henry

NOVEMBER 10, 2015

Author: Kevin Moland, KMoland@profitstars.com. If you think about it, payments have always been about being more mobile. Cash, first in the form of precious metals, then as different forms of currency, allowed people to liquidate relatively immovable assets like property or livestock and “mobilize” them in a form that could be carried around and converted into other goods and services.

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Payments Mobile Cards 78

CFPB Monitor

NOVEMBER 12, 2015

John L. Culhane, Jr. The Federal Trade Commission and the Department of Veterans Affairs have signed a “ Memorandum of Agreement ” (MOA) “to provide mutual assistance in the oversight and enforcement of laws pertaining to advertising, sales, and enrollment practices of institutions of higher learning and other establishments that offer training for military education benefits recipients.” Federal law (38 U.S.C. 3696) requires the VA to enter into an agreement with the FTC

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Analysis Training Compliance Course 83

Banking 2020

NOVEMBER 10, 2015

Consumers around the world are becoming more interested in using their mobile devices to manage their financial affairs, with the use of mobile banking technologies set to double by the end of the decade. This is according to a new report by KPMG, which revealed the total number of mobile banking customers is set to hit 1.8 billion by 2019, accounting for a quarter of the world’s population.

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Mobile social media Security Report 72

Javelin Strategy & Research

NOVEMBER 10, 2015

Giant banks are once again back in the headlines for disrupting the ability of personal finance apps such as Mint to collect customer financial data. On one level, it might appear that the banking industry is standing in the path of aggregators as if it were Gandalf, ramming down its staff and screaming, “You shall not pass!”. But that’s not going to happen.

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Data Security Management Regional 64

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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.

Lending

ZootBlog

NOVEMBER 11, 2015

Athletes work on their sports knowledge and skills every day, for weeks, months, and years as they hone their craft. Their strategy is to develop such strong muscle memory that when they are in competition, their body executes flawlessly. They become students of the game. So what does this have to do with banking? Everything. In today’s environment, as banks manage increased regulation and competition from industry outsiders, they must operate in the same fashion.

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Innovation Fintech social media Knowledge Base 60

CFPB Monitor

NOVEMBER 9, 2015

Barbara S. Mishkin. Last week, the U.S. Supreme Court heard oral argument in Spokeo, Inc. v. Robins , an important case presenting the question of whether a plaintiff who cannot show any actual harm from a violation of the Fair Credit Reporting Act (FCRA) nevertheless has standing under Article III of the U.S. Constitution to sue for statutory damages in federal court.

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Report 78

Banking 2020

NOVEMBER 12, 2015

It was barely two years ago that the world’s first facial recognition payment system was developed, but now it seems this technology is set for lift-off globally. Finnish firm Uniqul launched biometric authentication technology in 2013, which used mathematical models of people’s faces to confirm users. Cameras mounted onto the front of an ATM or POS could even recognise consumers as they approached, producing what the developers claimed was the “world’s fastest payment system.”.

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Technology Payments ATM System 66

SWBC's LenderHub

NOVEMBER 9, 2015

I was riding into work this morning, listening to Bloomberg Radio, as currency strategists and economists discussed the U.S. Dollar (USD) and the Euro going through parity as monetary policy between the Federal Reserve and the European Central Bank (ECB) diverges. Additionally, one of the guests spoke of the USD, as measured by DXY (Bloomberg U.S. Dollar Index), strengthening another 20% by 2017.

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Policies Marketing 60

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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.

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ABA Community Banking

NOVEMBER 11, 2015

SNL Report: Digital banking, M&A savings among factors trimming, but not killing, branch networks Management Financial Trends Retail Banking Channels.

Trends 57

Trends Digital Banking Retail Management 57

CFPB Monitor

NOVEMBER 9, 2015

Barbara S. Mishkin. Daniel Fisher of Forbes has written another article criticizing the NY Times for its stance on arbitration. Last week, Mr. Fisher criticized the first article in the Times’ three-part series on arbitration for disregarding the many negative aspects of class action litigation. (Alan Kaplinsky, Practice Leader of Ballard Spahr’s Consumer Financial Services Group, was quoted extensively in the first article and blogged about the article’s failure to acknowledge many crit

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Study Groups Analysis System 76

Banking 2020

NOVEMBER 9, 2015

Mobile technology is rapidly becoming an integral part of the way that many people manage their finances and make everyday payments, with the popularity of mobile banking apps and dedicated mobile payment tools such as Apple Pay growing all the time. This is particularly true in the Asia-Pacific region, where new research is suggesting that payments made via these solutions are set for ‘explosive’ growth over the next few years.

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Mobile Payments Regional National 49

Your Full Potential

NOVEMBER 10, 2015

In order to compete in today’s marketplace, there are a few tidbits of truth that you must accept. First, consumers are smarter than you. They might not have the experience and training that you do but they have almost unending information at the tips of their fingers. Next, the attention span of the consumer is almost non-existent. They’re much too busy scrolling to read most of what you write or listen to what you say.

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Leadership Training Course US 47

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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