South State Correspondent

OCTOBER 22, 2014

'If you look at the sensitivity in a bank’s budget, $1 of investment in new line of business usually doesn’t break even for two to three years. $1 invested in finding a new customer usually returns about 9%, while $1 invested in a new product is usually above 20%. This all compares to about a 40%+ return invested in improving processes (loan, branch, cash management, etc.) and about a 80% plus return spent on reducing customer churn, increasing lifetime value and/or helping cross-sell.

Management 275

Management 275

Abrigo

OCTOBER 20, 2014

'Among the various characteristics that make up a company’s culture, one of the most important aspects often goes overlooked. Ancin Cooley , Principal of Synergy Bank Consulting, Inc. states that a mix of value-based cultures is pivotal in the effective management of a bank. A sound project management culture, Cooley argues, should be in the forefront of financial professionals’ minds.

Management 230

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Celent Banking

OCTOBER 21, 2014

'The digital transformation in financial services is about the move from the physical to the virtual world, from person-to-person interaction toward person-to-machine or machine-to-machine. It is Celent’s view that Integrating and coordinating among disparate and siloed delivery channels will be critical to satisfying ever-increasing customer expectations.

Innovation 203

Innovation America Customer Experience Resources 203

CFPB Monitor

OCTOBER 23, 2014

'Richard J. Andreano, Jr. The CFPB has issued a final rule amending certain provisions of the 2013 Title XIV final mortgage rules. While in its press release the CFPB describes the amendments as “minor adjustments to its mortgage rules,” the final rule contains several major changes from the CFPB’s proposal. QM Points and Fees Cure.

Meeting 144

Meeting Regulation Policies Payments 144

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South State Correspondent

OCTOBER 23, 2014

'Sometimes the future isn’t that clear, and this one has us perplexed. We are not sure this is a step forward or backwards in technology, but we find it interesting. Nimbl , a San Francisco start-up now has an app available where you can request cash and a certified runner brings it to you.

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SWBC's LenderHub

OCTOBER 18, 2014

'When you offer products and services, one of the biggest obstacles you''re faced with—often on a daily basis—is addressing objections. Hearing ''no'' is a typical part of the job. You have to be prepared and on the offensive to face and overcome being told ''no.''.

Strategy 125

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CFPB Monitor

OCTOBER 20, 2014

'Alan S. Kaplinsky and John L. Culhane, Jr. The CFPB released its third Annual Report of the Student Loan Ombudsman , Rohit Chopra, discussing complaints received by the CFPB about private student loans and the lessons drawn by the Ombudsman from those complaints. Before turning to the substance of those complaints, and the conclusions drawn by the Ombudsman, we think it important to put the complaints and those discussions in perspective.

Report 111

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South State Correspondent

OCTOBER 20, 2014

'Last week ( HERE ) we looked at how deposit account tiering is used, some of the objectives that banks might employ and the effectiveness of tiering in total. As discussed last week, many banks tier without objective, without data and without supportive marketing thus rendering the methodology worthless and possibly hurtful.

Data 236

Data Marketing 236

Abrigo

OCTOBER 21, 2014

'The Financial Accounting Standards Board (FASB) continues to receive attention surrounding their proposed current expected credit loss (CECL) model , as final guidance is expected to be released late 2014 or early 2015. Under the proposed changes, banks would need to use historical information, current conditions and forecasts to estimate expected losses over the life of loan.

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Jack Henry

OCTOBER 22, 2014

'Author: Jenny Roland-Vlach, JRoland-Vlach@jackhenry.com. I have developed a bit of a habit over the years in my role as a Compliance Analyst: I like to regularly check out my FI client’s website. I have found that it gives me a great visual representation of what that institution is all about. This helps me understand the FI’s products/services, business culture, and face to the community.

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CFPB Monitor

OCTOBER 24, 2014

'Marc Patterson On October 22, 2014, six federal agencies adopted the final Credit Risk Retention Rule under Section 941 of the Dodd-Frank Act. The final rule will require sponsors of securitizations to retain an economic interest in the assets that they securitize. When members of the Federal Reserve voted unanimously to adopt the final rule, they expressed hope that its implementation will address concerns about the risk taking that contributed to the financial crisis.

FDIC 102

FDIC Security 102

South State Correspondent

OCTOBER 20, 2014

'Statistically, a “hot hand” in basketball doesn’t exist. In a detailed analysis of the 76ers and Celtics plus controlled experiments with Cornell’s varsity teams, researchers found that streaks were just positive random sequences with little evidence of correlation between outcomes and successive shots.

Analysis 236

Analysis 236

Abrigo

OCTOBER 24, 2014

'During a recent webinar on how to prepare for booming growth in the valuation industry , Sageworks polled over 135 finance professionals and found that more than 35% are sending their clients to a third party to complete a business valuation. During the webinar, Paul Wapner, CPA/ABV, CGMA, manager of forensic and valuation services for the AICPA, discusses how your firm can overcome barriers to entry and take advantage of these growth opportunities.

Industry 191

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Javelin Strategy & Research

OCTOBER 21, 2014

'So, the payments unicorn has finally made its way out into the world, with more conjecture and hyperbole than, well, the last time Apple did something. Much has been written thus far about ApplePay and it’s going to be hard to write anything truly fresh at this point, but I will try. While the mainstream media was ooing and aaahing over Apple’s innovative new product, us fintech geeks were generally a little underwhelmed by certain aspects.

Apple 74

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CFPB Monitor

OCTOBER 23, 2014

'Barbara S. Mishkin In our blog post yesterday about the CFPB’s final rule allowing an alternative online delivery method for annual privacy notices, we commented that the CFPB has made limited progress on its regulatory streamlining initiative launched in December 2011. The CFPB’s streamlining efforts were also the subject of a letter sent to Director Cordray yesterday by Senator Mike Crapo, Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs.

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Gonzobanker

OCTOBER 19, 2014

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Abrigo

OCTOBER 23, 2014

'U.S. banks are seeing low loss rates on CRE and construction loans relative to the past six years, according to Forbes. As a result, many are seeking growth in these areas, and others, as the recent financial crisis falls into the more distant past. But how can this growth be managed appropriately? CEIS Review , a New York-based bank consulting firm, highlights the shift in a recent article.

Risk Management 186

Risk Management Management Lending Resources 186

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Javelin Strategy & Research

OCTOBER 19, 2014

' Consumer Confidence in Mobile Purchasing is Growing. Figure: Consumers Purchasing Physical Goods Using a Mobile Phone 2009-2014. Why should you care about the Apple Pay launch? Apple iOS users are young: 60% are under age 45. Apple iOS users are wealthy: 7% have investable assets over $1 million. Apple iOS users spend more: 25% more per purchase than Android users.

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CFPB Monitor

OCTOBER 23, 2014

'Barbara S. Mishkin The defendants in the lawsuit brought by Benjamin Lawsky, the Superintendent of the New York Department of Financial Services, using his Dodd-Frank enforcement authority have filed an appeal with the U.S. Court of Appeals for the Second Circuit. Under Dodd-Frank Section 1042, a state AG or regulator is authorized to bring a civil action for a violation of the Dodd-Frank prohibition of unfair, deceptive or abusive acts or practices.

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Gonzobanker

OCTOBER 19, 2014

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ABA Community Banking

OCTOBER 24, 2014

'Confusing BSA/AML guidance on high-risk businesses demands reasoned decisions Compliance Risk Management BSA/AML Compliance/Regulatory.

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Banking 2020

OCTOBER 22, 2014

'From the retail point of sale to core banking systems, online security issues have dominated financial headlines in 2014. But amidst the reports of one data breach after another, check fraud has remained a constant thorn in the industry’s side, with 82% of U.S. retailers reporting being targeted, and banks suffering an estimated $650 million in losses from deposit account fraud, according to separate reports by AFP and the American Bankers’ Association.

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CFPB Monitor

OCTOBER 22, 2014

'Barbara S. Mishkin Nearly three years after identifying the Gramm-Leach-Bliley Act (GLBA) annual privacy notice requirement as a candidate for streamlining , the CFPB issued a final rule earlier this week to allow financial institutions that meet certain requirements to deliver such notices using an alternative online delivery method. The rule will be effective immediately upon its publication in the Federal Register.

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Tomorrow's Transactions

OCTOBER 24, 2014

'I saw a number of excited, and entirely mistaken, tweets saying that the British government are supporting Bitcoin, when they are doing nothing of the sort. In fact, the relevant UK Minister merely said that they government are keeping an “open mind” about Bitcoin. They’re not: they are keeping an open mind about the blockchain, and that’s much more interesting.

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ABA Community Banking

OCTOBER 20, 2014

'From top management down, bankers must embrace digital strategy Management Blogs Making Sense of it All CSuite Feature.

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