South State Correspondent
NOVEMBER 12, 2014
'If you are looking for examples of how banks have to change, stop by Grow Financial Federal Credit Union the next time you are in Tampa and see Natalia Spratlen. Grow Financial FCU presents a nice, open small footprint branch space and creates an environment of high productivity. That is not unusual these days as lots of banks are now redesigning their branches.
Abrigo
NOVEMBER 13, 2014
'Let’s face it: business owners need accountants for more than taxes alone. Many people who start and run businesses lack the financial perspective to be able to look at their financial statements and see potential pitfalls or opportunities for improving performance. And they desire guidance on how to plan for the future – both in their business and in their personal finances.
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Celent Banking
NOVEMBER 12, 2014
'Since the launch of neo-banks like Moven , Simple , and GoBank , financial institutions in the US have been avidly monitoring their popularity. Some have written them off as non-starters; others have praised them as disruptors. In recent months, however, the neo-bank model has hit a few stumbling blocks that call into question the promise of the digital-only model, and gives credence to the sceptics.
CFPB Monitor
NOVEMBER 14, 2014
'Richard J. Andreano, Jr. The CFPB entered into a stipulated order and final judgment with Franklin Loan Corporation (Franklin) to settle allegations that Franklin paid its employee loan originators compensation based on the interest rates charged on mortgage loans in violation of the Regulation Z loan originator compensation rule. Without admitting or denying the allegations, Franklin agreed to pay $730,000 in connection with the settlement.
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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
NOVEMBER 10, 2014
'One thing we love about the banking industry is the patriotism and respect for the armed services. On this Veteran’s Day, like many banks, we want to personally thank all those that served or serve protecting our great country, our ideals and, most importantly, our freedom. We also want to highlight all those banks, like CenterState, that actively recruit and train Veterans as bank employees as they tend to make above average bankers.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Celent Banking
NOVEMBER 11, 2014
'There is a lot of hype around wearables (smartwatches, fitness bands, etc.) and they may have all kinds of interesting potential. This potential, particularly for banking is still to be determined. However, I believe that there is a great opportunity for certain wearable devices to provide strong authentication and enhance the user experience ( see this blog entry ).
CFPB Monitor
NOVEMBER 12, 2014
'Barbara S. Mishkin Below is an update on the lawsuits we have been following that state attorneys general and a state regulator have brought using their Dodd-Frank enforcement authority. Under Dodd-Frank Section 1042, a state AG or regulator is authorized to bring a civil action to enforce provisions of Dodd-Frank Title 10 or regulations issued under Title 10, including the Dodd-Frank prohibition of unfair, deceptive or abusive acts or practices (UDAAP).
South State Correspondent
NOVEMBER 13, 2014
'Most banks feel comfortable making smaller sized loans. The obvious reasoning is that a smaller loan will present less of a loss should it go into default - less of a loss means less risk, and, therefore, higher return. That reasoning could be faulty and could end up getting your bank into trouble as often times it is the larger loan that presents less risk.
Abrigo
NOVEMBER 12, 2014
'With an improving economic environment, many banks are seeing strong loan growth. In fact, a recent report from the OCC highlighted the fact that loan growth doubled over the past year in the Northeastern district. However, it is important for institutions to remain disciplined during this growth, all the way down to the global cash flow analysis of a loan.
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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
NOVEMBER 13, 2014
'Current Tech. By Maria Korolov. It’s called ATM cash-out fraud, and it’s a new data security threat where physical attacks and cyberattacks converge. Earlier this year, federal regulators warned financial institutions against criminal attacks on their ATM systems. But instead of breaking into the physical machines directly, some criminals are now aiming at the bank systems that control the machines.
Jeff For Banks
NOVEMBER 9, 2014
'Every strategic planning retreat has its own flavor. This one particular retreat included a parade of investment bankers conveying the virtues of deal making while the audience of senior bank executives and board members nodded their heads in unison and solidarity. One question that was unasked was whether it is better to seek acquisitions or go it alone.
Matt Wilcox Pro
NOVEMBER 11, 2014
'A Maslowian Look at Emerging Payments Who would have thought that a high-tech company started by a hippie-esque guy who knew no better than to rip off the Beatles’ trademark, or a company started by youngsters who couldn’t even spell “googol” right, would, in a few years, present a competitive threat to credit unions and banks?
Abrigo
NOVEMBER 10, 2014
'According to CB Insight , community bankers felt Q3 was a light one in terms of regulatory compliance. However, the Q3 2014 Banking Compliance Index (BCI), shows otherwise. The third quarter marked the highest level of regulatory changes since 1995, with 82 changes implemented. As a result, banks are having to spend more time and resources on complying with regulations instead of profitable activities such as booking new loans.
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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
NOVEMBER 13, 2014
'Out of Mom and Dad’s basement, millennials are primed to become your next best customers. By Ed Avis. Meet Jack Bauhs, your next customer. He’s a high school senior who lives in suburban Chicago. He is aware of the value of shopping local, he carries $10 or $15 in his pocket, and he knows that he has a lot to learn about financial things. And technology is important to him.
Banking 2020
NOVEMBER 12, 2014
'After first hearing about EyeVerify at Finovate Spring earlier this year, where the company won best of show, we were intrigued. If you haven’t already heard of them, EyeVerify developed mobile authentication technology they call Eyeprint ID, that replaces traditional passwords with the uniqueness of the human eye, or your “eyeprint.” Recently we chatted with Chris Barnett, EVP of Global Sales & Marketing, EyeVerify , to learn a bit more about their new biometric for ba
SWBC's LenderHub
NOVEMBER 13, 2014
'"Shoot. Edit. Repeat." This is a mantra that aspiring filmmakers use as inspiration to reach their dreams, and it''s put into practice most often by YouTuber Ryan Connolly of Film Riot. Although this proverb seems like it would only be meaningful to film geeks, marketing teams working for banks and credit unions can also use it as inspiration and apply it to their own video marketing strategy.
CFPB Monitor
NOVEMBER 10, 2014
'Alan S. Kaplinsky and Mark J. Levin Following on the heels of the Pew Foundation’s survey of consumer attitudes towards arbitration and the CFPB’s on-going empirical study of consumer arbitration, a group of professors from St. John’s University School of Law recently conducted an empirical study purporting to explore the extent to which consumers are aware of and understand the effect of arbitration clauses in their consumer contracts.
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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
NOVEMBER 13, 2014
'Future Tech. By Tim Cook. Today personal data is both more accessible and more valuable than ever before. Certainly, cybercriminals are driving both companies and consumers to go take extraordinary measures to their data. But the increasing monetization of data could put more people in the mindsets of controlling access to their personal information—or at least the most valuable and current personal data.
Banking 2020
NOVEMBER 13, 2014
'Earlier this year, Farmers Exchange Bank , a 57-year-old community bank with four branches across Alabama, went live with its new SaaS platform, Temenos Insight. We recently touched base with Blair Osmer, CFO, to learn more about their decision to add this software component, and how the conversion has paid off to date. Blair Osmer, Farmers Exchange Bank.
Gonzobanker
NOVEMBER 9, 2014
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CFPB Monitor
NOVEMBER 14, 2014
'Glen P. Trudel Ballard Spahr to hold a webinar on the proposal at 12 p.m. ET on December 12 th. A link to register is available here. Yesterday I attended the Consumer Financial Protection Bureau’s (CFPB) field hearing in Wilmington, Delaware, at which the CFPB unveiled and accepted public comment on its long-awaited proposed rule for prepaid accounts under the Electronic Fund Transfer Act (Regulation E) and the Truth In Lending Act (Regulation Z) (the Rule).
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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
NOVEMBER 13, 2014
'Upcoming changes to credit-scoring models could boost the borrowing ability of more consumer. By Kerry Curry. FICO, the widely used credit rating software system, is undergoing changes that will alter how the software will calculate the credit scores for many consumers. The changes, which are embedded in the software’s analytical model, should raise many consumers’ scores, making many more qualify for mortgages and other forms of credit, several industry analysts say.
ABA Community Banking
NOVEMBER 12, 2014
'Squeeze it for all it’s worth! Management Lines of Business Technology Core Systems Feature.
Banking 2020
NOVEMBER 10, 2014
'Below are interesting stories the Banking.com staff has been reading over the past week. With Fintech … If You Can’t Beat Them, Buy Them – The Financial Brand. Digital Channels: Windows to Financial Institution’s Soul – Bank Systems & Technology. Apple Pay Moves World Closer to Mobile Payment Acceptance – Wall Street Journal. Here’s What Mobile Apps Will Look Like in 2015 – American Banker. iBeacon Greetings Leverage Benefits for Customer Engagement Tools ̵
Tomorrow's Transactions
NOVEMBER 10, 2014
'The biggest factor shaping the strategic plans of players in the European payments sector is regulation and right now understanding the impact of new regulation is far more important than understanding the impact of new technology. The wonderful people at Barclaycard were kind enough to invite me along to a seminar about innovation in payments. I was there as the tech guy and my job was to show the corporate clients how the mobile-centric payment ecosystem will enable new kinds of business, new
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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