South State Correspondent
DECEMBER 27, 2015
When we asked bankers what made a difference in 2015, we wanted to highlight one of the best pieces of advice that was given to us and that some bankers put into practice this year. In the quest to build a better bank, there are two questions that the answers can help your bank hone in on what is important.
Abrigo
JANUARY 1, 2016
According to the latest report from the U.S. Government Accountability Office (GAO), community banks and credit unions are starting feel the impact of the Dodd-Frank Wall Street Reform Act. The Act, announced in 2010, requires or authorizes federal agencies to issue rules to strengthen the financial services industry. It also includes a provision for the GAO to study the regulations on an annual basis.
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Celent Banking
DECEMBER 29, 2015
In previous blog posts regarding fintech in Latin America my position was, and remains, that one of the reasons for being behind is that it lacks of a “Silicon Valley” equivalent. Efforts to create a fintech ecosystem, as Finnovista is doing, become a good alternative to overcome the absence of a geographical pocket of innovation. Particularly consider the market fragmentation of Latin America comprised by 19 countries, some of which have 3M inhabitants to Brazil having +200M.
Jack Henry
DECEMBER 30, 2015
Author: June Middleton, JuMiddleton@jackhenry.com. Retailers, hospitals, government agencies, and details of their data breach woes continue to appear in news and social media headlines, and the pace of the data breach announcements appears to be speeding up, instead of slowing down. Organizations continue to spend thousands (if not tens of thousands of dollars) on technical security controls (firewalls, intrusion detection/prevention systems, anti-virus/anti-malware programs, encryption, access
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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
South State Correspondent
DECEMBER 28, 2015
When it comes to loan authority structure, six banks will do it six different ways. Loan authority is granted from a bank’s Board of Directors and gives each credit line position a certain amount of lending authority to approve the loan. While a front-line loan officer may have $500k in authority, their boss, the Chief Credit Officer, may have $5 million.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Independent Banker
DECEMBER 28, 2015
Highlighting some agency supervisory priorities for the upcoming year. By Tim Cook. The Office of the Comptroller of the Currency published its supervisory priority objectives for midsize and community banks for 2016. The document provides a general guidance of not only the supervisory priorities of the OCC but also a likely consensus of supervisory trends of other federal regulatory agencies.
CFPB Monitor
DECEMBER 30, 2015
Richard J. Andreano, Jr. Reacting to reports of investors refusing to purchase loans based on various, often technical, violations of the TILA/RESPA Integrated Disclosure (TRID) rule, the Mortgage Bankers Association (MBA) sent a letter to the CFPB on December 21, 2015 seeking guidance to allay investor concerns. (The version of the letter released by the MBA does not include the attachment referenced in the letter.).
SWBC's LenderHub
DECEMBER 28, 2015
It's hard to believe that 2015 is coming to a close, and that in a few days, we will be kicking off a new year. It's been a great year for us here on the LenderHub, and we hope that you have enjoyed reading our content as much as we have enjoyed writing and sharing it with you. In case you missed any of our posts, here is a recap of our five most popular posts from 2015.
Abrigo
DECEMBER 28, 2015
Let's assume, for the purpose of this article, that you are operating a successful valuation or accounting firm. Or, perhaps you're an M&A professional or business broker, but no matter the nature of your work, you have a cash flow positive, successful organization. Yet your work valuing businesses and advising owners has made you painfully aware that competition is always around the corner.
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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
Independent Banker
DECEMBER 28, 2015
Outsized regulation shapes the business climate and decisions. By Denise Logeland. Far more than any other issue, regulatory compliance is the biggest challenge community bankers experienced in 2015, with 43 percent naming it as such in ICBA’s State of the Community Banking Industry survey. Similarly, the largest share of community bank executives whom ICBA surveyed, 43 percent, have pegged their compliance spending at 5 to 10 percent of their annual revenues.
ZootBlog
DECEMBER 29, 2015
There are numerous examples of EMV gone awry as the roll out, rolls on. Secure for card-present transactions, yes, seamless, no. On a bustling pre-holiday evening during a crowded Christmas Stroll, there was no time for merchants to be delayed when it came to payment processing. My colleague attempted to use his new EMV chip-enabled card to make a purchase.
Jeff For Banks
DECEMBER 29, 2015
There are many professions where incentive compensation is a big part of overall compensation. My profession is one of them. So I have occasionally been the grateful recipient of an incentive paycheck. An actual check. Yesterday was such a day, and I dutifully went to my bank to deposit it. There was a teller line. When my turn arrived, I made my deposit.
CFPB Monitor
DECEMBER 28, 2015
Barbara S. Mishkin. In October 2015, the D.C. federal district court ruled that the plaintiffs’ names should be redacted in all documents filed in a lawsuit against the CFPB initiated by the plaintiffs. The plaintiffs are a group of businesses and an individual who provide services related to consumer credit counseling and are under investigation by the CFPB.
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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.
Independent Banker
DECEMBER 29, 2015
“To be successful, we need everyone to work together. My role is to help accommodate that as best I can.” —Jason Boling, Countybank. Jason Boling bridges the gaps for bankwide transformational change. By Cheryl Winokur Munk. Countybank in Greenwood and Greenville, S.C., is becoming a more sales-conscious community bank. The bank is undertaking this steady transformation, a blend of operational and cultural change, to capitalize on its comprehensive financial product lines.
ABA Community Banking
DECEMBER 31, 2015
CFPB doesn't like marketing services agreements˜period. Until the courts decide, be very careful Management Lines of Business Compliance CFPB.
NCR
DECEMBER 30, 2015
As the second-biggest country in the world in terms of population and with a rapidly growing economy, India offers huge opportunities for the payments industry. With over a billion consumers, providers who understand the unique challenges of the nation and present the right offerings stand well-placed for success. One of the biggest areas of interest is mobile payments.
CFPB Monitor
DECEMBER 28, 2015
Richard J. Andreano, Jr. The CFPB has issued a final rule containing “technical corrections” to the final TILA-RESPA Integrated Disclosure (TRID) rule that became effective on October 3, 2015. The corrections are effective December 24, 2015, the date of their publication in the Federal Register. According to the supplementary information accompanying the corrections, the publication of the TRID rule in the Federal Register “resulted in several unintended deletions of existing
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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.
Independent Banker
DECEMBER 29, 2015
Community bankers offer real-world reasons for more Basel III relief. By Karen Epper Hoffman. Nearly one year after the Basel III capital rules went into effect, community bankers say that now recognize just how much more complex and how much more difficult this new set of capital rules will make life and business for them if they remain in place. Of course, Basel III—otherwise known as the Third Basel Accord—is a global regulatory framework on bank capital adequacy, stress testing and market li
ABA Community Banking
DECEMBER 29, 2015
New report warns that risks of Internet of Things aren’t hype Technology Risk Management Cyberfraud/ID Theft.
NCR
DECEMBER 29, 2015
For an industry like technology that gleefully develops jargon to describe each new or emerging capability, the word ‘container’ doesn’t resonate much. But don’t be fooled—it describes a technology trend that could play a big role in banking. Remember, the original ‘containers’ were hugely important to the shipping industry. They enabled and built on an industry standard, a uniform methodology for cargo that previously shipped in different sizes and formats.
Bankelele
DECEMBER 29, 2015
Sports betting used to be done at the Ngong horse races, and in a few casinos around Nairobi that have red carpet entrances. Now you don’t have to visit the casinos to place bets, as the mobile phone has become enables this. Every day, the sports pages of the newspapers have about four (4) color half-page advertisements by different mobile sports platforms, enticing fans to bet on various matches, usually the English premier league.
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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.
Independent Banker
DECEMBER 29, 2015
ICBA warns of risks of online marketplace lending models. By Howard Schneider. Online marketplace lenders are a new form of nonbank specialty lending that uses technology platforms to allow Wall Street and individual investors to directly fund loans to consumers and small businesses. Automation and novel data analytics dictate their credit decisions and typically high-cost pricing and fees, and higher defaults are often built into their lending models and decisions.
ABA Community Banking
DECEMBER 30, 2015
SNL Report: As more banks exceed concentration guidance, regulators issue warning on CRE growth Management Financial Trends Mortgage/CRE Commercial.
The Emmerich Group
DECEMBER 31, 2015
Is having a good year in 2015 going to impede your chance of having a spectacular 2016? What if this next year HAD to be twice as good as last year? And what if instead you changed your framework from “have to” to “get to” to make this the best year ever? Jim Collins, author of the perennial business bestseller, Good to Great , taught us that attachment to “good” impedes the possibility of great.
Fintech Labs Insights
DECEMBER 30, 2015
For just the fourth time this year, weekly fintech fundings fell below the $100-million mark with 15 companies raising a total of $51 million. The second-largest round of the week ($4 million), went to Finovate veteran Dana Bowers latest startup, Venminder. The Kentucky-based company has developed a vendor management platform for banks and credit unions.
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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