South State Correspondent
OCTOBER 14, 2014
'For those of you that remember our data on the seasonality of bank marketing ( HERE for those that don’t), before October 24 is really one of the last chances of the year to drive any kind of effectiveness. October 24 through November 21 st is neutral and after the 21 st you might as well light your marketing dollars on fire, as it will produce the same effectiveness.
Abrigo
OCTOBER 14, 2014
'When it comes to the risk management process, there is no one-size-fits-all approach. Financial institutions have a wide variety of approaches, as calculations and analyses differ between lenders. “It is as much an art as a science,” says Tim McPeak, risk management consultant at Sageworks. “Everyone’s going to have their own ways, and from bank to bank they will have different underwriting guidelines and standards.
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Celent Banking
OCTOBER 15, 2014
'Data analytics is not a new pursuit. SAS, for example, has been offering solutions since its inception in 1976. But owing to the inherent complexity of advanced data analytics platforms, experience with data analytics has been the domain of only the largest organizations. However, the last several years have witnessed an explosion in applications for data analytics, especially in the area of customer analytics.
Finer Points
OCTOBER 17, 2014
'Forget what you think you know about Generation Y. The nation’s millennials—the biggest and most diverse generation of customers in our nation’s history—account for more than $1 trillion in annual purchasing power. And according to ICBA’s recently released 2014 American Millennials and Banking Study, this generation represents a major opportunity for community banks.
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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
OCTOBER 16, 2014
'Back in October and November of 2007, yields dropped 20+ basis points and credit spreads increased by more than 10%. It ended up be a signal as the next month the US found itself in a recession. Yesterday we saw similar movements in the markets, as at one point the 10Y Treasury had moved more on a percentage basis than it had when the Lehman Brother’s collapse was made public and when 9/11 occurred.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Celent Banking
OCTOBER 16, 2014
'It has been busy few weeks in the payments world. Not surprisingly, reaction to Apple Pay’s announcement is the hottest topic in payments. It even manages to dominate European conferences with no specific agenda items dedicated to Apple. We at Celent added our own voice to the debate by publishing a new report on Apple’s entry into payments , in which we describe Apple Pay and assess its prospects.
Independent Banker
OCTOBER 14, 2014
'By Ann Chen. Patricia Husic. Twitter handle: @PattiHusicCEO. Twitter followers: 330 and counting. Bank: Centric Bank, Harrisburg, Pa. Bank assets: $304 million. While perusing Twitter, it’s very common to find Fortune 500 CEOs tweeting. However, now more than ever, one may find more community bankers reaching out in this widely accessible medium as well.
South State Correspondent
OCTOBER 15, 2014
'Because of tradition we tier our deposit accounts according to size. Here at CenterState Bank, in our money market accounts for example, we have six tiers ranging from $2,000 up to $100,000. Currently, only the $100,000 and above tier pays a different rate of interest. The question that always comes up is do we have the right tiers and the right number of tiers?
Abrigo
OCTOBER 13, 2014
'Consumers understand that certain retailers specialize in particular items. If you''re looking to plant tomatoes in your garden, your first step is unlikely to visit the local Best Buy store. Sometimes a specialty retailer is necessary to meet your needs. Such can also be the case with accountants. A one-size-fits all approach to growing your accounting firm could mean that you''re missing out on a valuable, and potentially lucrative, opportunity to develop a niche.
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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
Celent Banking
OCTOBER 14, 2014
'I was very intrigued and excited when I heard about Capital One’s acquisition of Adaptive Path. When was the last time you heard of a bank acquiring a design firm? This fresh thinking is exactly what is needed in the banking space. I’d also like to see some of the major software vendors acquire firms like this ( cc:@dmgerbino ). I think it’s a great idea for several reasons: Design and user experience (UX) are critical to digital AND brick and mortar banking.
CFPB Monitor
OCTOBER 16, 2014
'Heather S. Klein The CFPB published for comment in today’s Federal Register a proposed policy on issuing “no-action” letters for innovative financial products or services. Like those issued by the SEC and CFTC, the no-action letters would communicate that, subject to specific facts and circumstances, CFPB staff has no present intention to recommend initiation of an enforcement or supervisory action against the requester with respect to a specified matter.
South State Correspondent
OCTOBER 13, 2014
'This annual survey published by ACSI gives bankers insight into what credit unions are doing right and wrong. Some highlights: . Credit union customers had just slightly greater satisfaction than bank customers. Mobil and online banking has the largest impact on customer experience. Utilization of mobile is becoming similar across all demographic catagories.
Abrigo
OCTOBER 11, 2014
'More than 140 bankers and industry experts from over 30 states gathered in Nashville, Tennessee last month for the 3rd annual Risk Management Summit hosted by Sageworks. Building on the success of the 2nd annual Summit , this year’s event featured new topics, new speakers and additional networking opportunities. Maintaining a focus on emerging trends and best practices in the allowance for loan and lease losses (ALLL) and stress testing loan portfolios, attendees learned from top industry
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Banking 4 Tomorrow
OCTOBER 17, 2014
'The Fear Factor on Ebola is over the top right now. We are spending countless hours in the media analyzing footage of health workers, figuring out how a nurse in Texas contracted the disease despite strict quarantine procedures, and debating over whether to travel on aircraft. In all of this though, the transmission methods of […].
Independent Banker
OCTOBER 14, 2014
'A status update on banks and social media. By Russ Horn, CoNetrix. The first tweet ever written was by co-founder Jack Dorsey on March 21, 2006, at 9:50 p.m., which read, “just setting up my twttr.” Now, just over eight years later, Twitter averages more than 500 million tweets per day.* According to a statistic released as part of the ICBA 2014 Top 50 Community Bank Leaders in Social Media, nearly 2,500 banks have a Facebook or Twitter presence, and the numbers continue to exponentially grow.
Jack Henry
OCTOBER 15, 2014
'Author: Eric Wilson, ewilson@profitstars.com. All the recent attention and emphasis on data has reinforced the saying, “Knowledge is power.” Thanks to major breakthroughs in advanced data tools and cloud computing, many organizations are compiling, storing and interpreting huge amounts of information. That’s a trend that is certain to keep going. Now that data foundations are starting to form, financial institutions have a golden opportunity to find innovative uses for all this information.
Abrigo
OCTOBER 16, 2014
'How much time do you spend on a loan presentation? Does it include the right content? According to Gary Welsh, banking services manager at Condley and Company , the key to a clear and concise commercial loan presentation is beginning with the end in mind. You should begin your commercial loan presentations by asking, “What is the commercial loan going to look like at closing?
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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.
CFPB Monitor
OCTOBER 14, 2014
'Marc Patterson The CFPB has issued two proposed changes to the TILA-RESPA Integrated Disclosures Rule (Final Rule) that will be effective for applications received on or after August 1, 2015: (1) an adjustment to the timing requirement for revised Loan Estimate disclosures when the consumer locks a rate or extends a rate lock after the initial Loan Estimate is provided, and (2) an amendment to permit language related to new construction loans to be included on the Loan Estimate form.
Independent Banker
OCTOBER 14, 2014
'Hubs of Opportunity. Robust online mortgage websites embrace today’s lending challenges as well as consumer needs. By Elizabeth Judd. When Community Bank of Bergen County unveiled its online mortgage hub this summer, the bank put “ease of use” at the top of its goals for the site, says President and CEO Peter Michelotti. “I still do a lot of lending myself,” Michelotti says.
Abrigo
OCTOBER 15, 2014
'Do customers want off-site banking to be as simple as sending a tweet? A bank in France is making that a reality. With the significant rise of person-to-person (P2P) payments – allowing a customer the convenience of sending money directly to someone else quickly – news broke earlier this month that Twitter is getting into the game; and yesterday, the details were announced at a press conference.
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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.
Banking 2020
OCTOBER 16, 2014
'Not too long ago, the New York Times reported that a collection of Russian thieves collected a stash of Internet account credentials totaling 1.2 billion user names and password combinations, and 500 million email addresses taken from 420,000 websites. The attack vector employed by the cybercriminals was believed to be spam – the use of electronic messaging systems to send unsolicited bulk messages indiscriminately.
ABA Community Banking
OCTOBER 15, 2014
'“It’s all about the customer” makes more sense when you know all about the customer Retail Banking Blogs Making Sense of it All Customers Core Systems Feature.
Bankelele
OCTOBER 13, 2014
'A guest post by @Wanjiku. Two months ago, Erik Hersman wrote a nice post on his blog about Kazi ya mkono. To the educated folks, “kazi ya mkono” is for those who didn’t go to school and were relegated to manual labour or just assisting and to the folks doing it, its a way of earning a living. Over time, the term “kazi ya mkono” has evolved to mean the people who are not afraid to get their hands dirty and, given the proliferation of universities and colleges, having a degree doesn’t mean anyth
Tomorrow's Transactions
OCTOBER 17, 2014
'Cash is becoming a payment mechanism for poor people (and poor countries), but because of its high costs it’s very bad for both of them. Oh, and it’s really annoying for women, even if they are not in poor countries. The latest survey of payment preferences in the US show that cash is still holding on for small purchases but it’s steadily sliding.
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