South State Correspondent

DECEMBER 18, 2014

'This week, we spoke on the future of business at one of the best bank customer events we have attended. CTBC Bank ($2.3B, CA) put on a stellar show and today we break down the events elements that will give you some ideas for your next customer “thank you” lunch. No matter what your budget or bank asset size, the goal is to create an event that is focused on the customer, but subtly highlights the achievements and capabilities of the bank. .

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CA 286

Abrigo

DECEMBER 16, 2014

'Lending standards continue to relax, according to data from the OCC’s 2014 Survey of Credit Underwriting Practices. This type of easing is similar to that experienced between 2004 and 2006, the time period leading up to the financial crisis, which many attribute to inadequate lending standards. Source: OCC 2014 Survey of Credit Underwriting Practices, December 2014.

Lending 225

Lending Survey Training Retail 225

Finer Points

DECEMBER 19, 2014

'The following post first appeared on American Banker’s BankThink blog. It is reprinted below with American Banker’s permission. By Cornelius Hurley Dec. 18, 2014 In his impactful book Don’t Think of an Elephant, cognitive scientist George Lakoff illustrates how framing a discussion from the beginning is key to winning the argument. No one has learned […].

Washington 140

Washington Community Bank Community 140

CFPB Monitor

DECEMBER 17, 2014

'Anthony C. Kaye Congress has unanimously approved legislation to extend until January 2016 a provision of the Servicemembers Civil Relief Act (SCRA) that prohibits foreclosing on a servicemember’s house for one year following the servicemember’s return from active duty. The CFPB has made SCRA compliance a priority issue. Senator Sheldon Whitehouse proposed S.2404 , known as the Foreclosure Relief and Extension for Servicemembers Act of 2014, last May.

Leadership 133

Leadership Policies Compliance National 133

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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

Lending

South State Correspondent

DECEMBER 17, 2014

'When we tell banks they need to get to a 35% efficiency ratio to be competitive in the future they look at us like we are crazier than an outhouse rat. Let’s set the branch debate aside (the largest functional cost area) as that is basically a philosophical argument. Let’s just look at your next largest functional cost – loan processing. We get challenged all the time by banks telling us they are “already at full capacity” and “we are already lean.

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US 278

Gonzobanker

DECEMBER 15, 2014

'Greetings, GonzoBankers. This week I’ll introduce the next installment of our wildly popular comic novel, “Brock Thorpe, BadAss CIO.” Brock’s gotten over his omnichannel rage, but a visit from his new vendor rep has tested his patience yet again! Will Brock keep his cool? Will he act professionally despite his rising temperature? Or will Brock be Brock, and take matters to street level?

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CFPB Monitor

DECEMBER 16, 2014

'Barbara S. Mishkin Through its Project Catalyst , the CFPB’s initiative for facilitating innovation in consumer-friendly financial products and services, the CFPB has announced a new research pilot using insights from behavioral economics and an American Express trial program to evaluate the effectiveness of certain practices to encourage prepaid card users to develop regular saving behavior.

Maine 111

Maine Cards Strategy Innovation 111

South State Correspondent

DECEMBER 16, 2014

'Banks computing lifetime value of customers know that there are six components: 1) Cost to acquire; 2) Revenue/cost savings (volume and pricing); 3) Cost to service; 4) Relationship life; 5) Interest rate sensitivity; and, 6) Propensity to generate other business (referrals, related accounts, new product uptake, etc.).

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Abrigo

DECEMBER 18, 2014

'At the height of tax season one problem accountants often face is maximizing their client meetings. When an entire firm – and entire industry, for that matter – is racing against the clock and aims to pack as much into each day as possible, it is natural for even the most organized of us to feel a bit disorganized. Aside from the checklists and worksheets that help clients prepare for tax season, now is a great time to double check your own to ensure you are asking the right questio

Taxes 208

Taxes Meeting Industry US 208

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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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Banking 2020

DECEMBER 17, 2014

'As 2014 comes to an end, we’ve been reviewing the trends, articles and news that kept us talking this past year and started thinking about what will come in 2015. As readers, you indicated your interest in this year’s top trends on the site including financial regulations on marijuana , banking profitability , online-only banks and the mobile banking revolution.

Digital Banking 111

Digital Banking Trends US Regulation 111

CFPB Monitor

DECEMBER 18, 2014

'Alan S. Kaplinsky The Consumer Law & Policy Blog has reproduced a copy of a letter sent yesterday by the CFPB seeking suggested cases for the CFPB’s amicus brief program. The letter indicates that the amicus program has so far filed 14 amicus briefs in the federal courts of appeals and has worked closely with the Solicitor General’s Office on several amicus briefs in the U.S.

Policies 98

Policies Industry 98

South State Correspondent

DECEMBER 15, 2014

'One thing that did not make it into our 2014 Banker Gift Guide that we feel a public service need to tell you about is the limited availability of Spotted Dick (Amazon $19.95). In case you are unfamiliar with the item, Spotted Dick is a traditional, British pudding made with golden syrup and raisins to be served with custard, love and a dose of humor.

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Abrigo

DECEMBER 15, 2014

'Consider your worst customer service experience. Perhaps it began by waiting in a needlessly long line, leaving you aggravated before you reach the front. Then a seemingly simple request to make an exchange devolves into a customer service representative’s dramatic change in demeanor because they, too, have just had enough of this never-ending line.

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Customer Experience North Carolina Raleigh Survey 192

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Jeff For Banks

DECEMBER 18, 2014

'For the past three years I searched for the Top 5 financial institutions in five-year total return to shareholders because I grew weary of the "get big or get out" mentality of many bankers and industry pundits. If their platitudes about scale and all that goes with it are correct, then the largest FIs should logically demonstrate better shareholder returns.

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North Dakota Arizona Minnesota Los Angeles 93

Matt Wilcox Pro

DECEMBER 17, 2014

'Last week, a friend of mine, also in marketing, posted this after fighting his way to live chat on Adobe’s website: “Adobe live chat is immensely helpful—once you get there. First you must prove your worthiness. You must navigate a maze, undergo a colonoscopy, pass a written exam on String Theory, run a gauntlet (blindfolded), sacrifice [.

Course 84

Course Marketing 84

SWBC's LenderHub

DECEMBER 18, 2014

'Obtaining new customers is part of a successful business. And, as most business professionals know, it’s not always an easy task, often costing a significant amount of time and money. The price of direct mail, print/online advertisements, or a cold calling campaign can easily chip away thousands of dollars from your budget. In fact, according to Forbes , attracting new customers will cost your company five times more than keeping an existing customer.

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Online Company 83

Abrigo

DECEMBER 19, 2014

'In calculating the ALLL, often one of most cumbersome components of the process proves to be the FAS 114 (ASC 310-10-35) impairment analysis. Instead of being grouped into homogenous pools like their FAS 5 (ASC 450-20) counterparts, these loans are segmented out as having evidence of impairment and then calculated individually to determine expected loss.

Analysis 188

Analysis Payments Resources Marketing 188

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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

Banking 2020

DECEMBER 15, 2014

'Here’s a perfect a snapshot of how crazy technology adoption can be. In early December, there was a flood of coverage of wearable technology, mostly focused on how 2015 will be the breakout year. And at just about the same time, we got ‘Adorned: The Shape of Things to Come,’ an exhibit focused on “wearable tech’s past, present and future.” In other words, an entire discipline that is by any definition still in its infancy already merits a museum-style style retrospective.

Technology 89

Technology Apple social media Mobile 89

CFPB Monitor

DECEMBER 19, 2014

'Barbara S. Mishkin As part of this week’s flurry of enforcement-related announcements, the CFPB announced the settlement of a lawsuit filed jointly with the Attorneys General of North Carolina and Virginia against Freedom Stores, Inc. (Freedom), a retailer selling merchandise online and in retail stores located near military bases that offered financing through retail installment contracts (RIC), for alleged unlawful debt collection practices.

North Carolina 74

North Carolina Retail Company Virginia 74

Jack Henry

DECEMBER 17, 2014

'Author: Pat True, RTrue@profitstars.com.

Lending 122

Lending 122

ABA Community Banking

DECEMBER 19, 2014

'Part 4: Can you compute “Human Capital ROI” for your bank? Human Resources Management CSuite Community Banking.

Policies 76

Policies Community Bank Resources Community 76

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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.

Lending

Banking 2020

DECEMBER 16, 2014

'Even though the shine may have worn off, Apple Pay buzz still has a little “zz” left in it. While bankers are a little less mystified by the service, brave FIs are adopting and moving forward to become one of the first to market. Wanting to learn more, we spoke with one of the early adopters, America First Credit Union. AFCU was the second credit union to be a participating Apple Pay issuer and is currently only 1 of three credit union partners of the program.

Apple 84

Apple America Training Cards 84

CFPB Monitor

DECEMBER 18, 2014

'Barbara S. Mishkin The American Bankers Association, American Bankers Insurance Association and Consumers Banking Association have submitted a joint comment letter on the CFPB’s proposed policy on issuing “no-action” letters for innovative financial products or services. The trade groups expressed the overall concern that the proposal will not “serve as a viable approach to alleviating regulatory uncertainty” because it is “limited in its applicability and yet fraught wi

Policies 74

Policies Groups Innovation Analysis 74

Tomorrow's Transactions

DECEMBER 19, 2014

'I will stick my neck out and predict that consumers will not see any benefit from European interchange meddling. It’s the retailers’ shareholders who will be the winners. Well, as expected, the EU’s “20/30” caps on debit and credit card interchange fees is going to go ahead. Fees to process debit and credit card transactions are to be capped under an EU law that attempts to wrap-up a protracted battle with payment groups such as Visa Europe and MasterCard.

Cards 51

Cards Regulation Retail Payments 51

ABA Community Banking

DECEMBER 13, 2014

'Best hope is to set up security containment, prevent compromising enterprise data Risk Management Blogs Making Sense of it All Operational Risk.

Risk Management 66

Risk Management Security Operations Data 66

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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