South State Correspondent

FEBRUARY 2, 2016

By the time you read this we already have an extended weather forecast from a Pennsylvania rodent. Who needs Doppler radar when you have Punxsutawney Phil? Figuring out that we will have an early spring by a random woodchuck shadow is about the same level of science employed in many banks’ sales process. Consider a common problem among bank business development officers – You present a loan or a deposit product to a customer and the pitch worked great.

Pennsylvania 204

Pennsylvania 204

Accenture

FEBRUARY 2, 2016

We are living in the “Age of the Customer,” when technology and economic forces have put customers in control of their interactions with businesses. A recent study of nearly 400 global decision-makers — commissioned by Accenture and conducted by Forrester. Read more.

Customer Experience 158

Customer Experience Study Technology Innovation 158

Abrigo

FEBRUARY 5, 2016

As professionals who specialize in finance, preparing financial statements, and assisting business owners with their financial performance, one would suspect that accounting, tax preparation, bookkeeping, and payroll service companies would tend to have a firm grip on their own financial performance. And looking at statements filed over the past year, it certainly appears to be the case.

Taxes 150

Taxes Industry Data Analysis 150

Celent Banking

FEBRUARY 4, 2016

Bank of America recently announced that it would triple spending on its mobile app. While no exact dollar amount was given, it made me wonder: what exactly does that entail? In the past, Celent has praised the Bank of America mobile banking apps as some of the best out there. The bank has been going strong with its digital strategy for years, even closing branches and reducing overhead to drive adoption.

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Mobile America Digital Banking Digital Strategies 122

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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

FEBRUARY 2, 2016

It is hard for a bank to be more innovative when senior management has little experience with person-to-person payments, the Uber experience, the Dark Web or Snapchat. Without the experience, it is easy to dismiss new technology as a “fad.” This occurred with social media as many bankers grumbled “why do I care what so and so had for dinner” until they realized the level of success that other banks were having through the channel, that many of their profitable customers were using social media a

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social media Innovation Management Technology 183

Abrigo

FEBRUARY 3, 2016

By Nancy A. Damato President, Senior Consultant at Accounting Advisory Group, LLC The CPA firm marketplace is changing rapidly, as consolidation of the profession is creating larger firms with greater resources and expanded geographic marketplaces, while the competition for quality clients and staff has reached an all-time high. All of these dynamic market forces are changing the way firms will compete in the near future.

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Resources Strategy Groups Leadership 150

Celent Banking

FEBRUARY 3, 2016

While I’m an outspoken advocate of financial services technology, I have been a bit of a curmudgeon when it comes to mobile wallets. My skeptical attitude reached an apex when I dropped my smartphone in a glass of merlot several years ago and hasn’t recovered. Had my smartphone been my mobile wallet, embarrassment would have been the least of my problems.

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ATM Mobile Cards America 109

South State Correspondent

FEBRUARY 3, 2016

Bankers are lamenting the current ridiculous low loan spreads and questioning if they are getting appropriately compensated for the risk that they are taking with their capital. This brings up the question - Are banks getting compensated for all of the risks that they take for extending credit? Our resolute answer is - no, bankers rarely get sufficient revenue for the risks that they take in lending.

Lending 174

Lending Capital 174

Independent Banker

FEBRUARY 3, 2016

Collecting Accurate Data Via Integrated CRM. by Shanda Purcell. With competition heating up in today’s financial industry, it’s more important than ever to truly understand your customers in order to win the race for profitability. And the key to fulfilling that quest for knowledge is accurate data. To that end, banks are turning to the latest customer relationship management (CRM) solutions that, through integration with the core platform , gather precise data that helps them proactively antici

Leadership 70

Leadership Customer Experience Management Data 70

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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

Report

Abrigo

FEBRUARY 3, 2016

Sageworks recently announced the dates and location for the 2016 Risk Management Summit. Set for September 14-16 at the AT&T Executive Education and Conference Center in Austin, TX, the Summit is the premier banking conference covering the ALLL and stress testing, and it will feature presentations from industry leaders, panels, roundtable discussions and networking opportunities.

Risk Management 150

Risk Management Management Austin Conference 150

Celent Banking

FEBRUARY 2, 2016

At Celent we run a couple of Banking research panels – one on Branch transformation and another on Digital – where any US-based bank or credit union can participate in surveys we administer on a regular basis. Last week we published the report with findings of our survey we conducted in November 2015 on Digital Payments. 42 institutions participated and answered our questions on: How important are digital payments in the context of other priorities?

Payments 109

Payments Survey Branding Apple 109

South State Correspondent

FEBRUARY 4, 2016

In 1987 Robert Plath, a Northwest Airlines pilot, introduced the world to rolling luggage. . Since the transition from the steamer trunk to the suitcase around 1907, travelers and their porters had manhandled their belongings on trips much the same way. While some travelers started to use portable luggage carts in the 1970s, and a gentleman by the name of Bernard Sadow invented wheeled luggage, neither caught on for mass travel.

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Cisco

FEBRUARY 4, 2016

As Mike Riegel pointed out in his recent blog , ‘Financial services is the prime example of an IT-intensive industry.’ Financial institutions rely on consistent technology and innovation to compete and to ensure compliance with regulatory requirements. Customers put a lot of trust in their financial services provider to secure their data and privacy.

Compliance 77

Compliance Examples Security Innovation 77

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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.

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Abrigo

FEBRUARY 2, 2016

Selling valuations can be complex and business owners don't always know why they need one. Good news.sometimes the valuation professional doesn't need to sell the service at all. Educating business owners on why valuations matter and how they improve businesses in both the short and long term can help business owners realize that a valuation of their business is exactly what they need.

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Meeting Marketing Video Taxes 150

Celent Banking

FEBRUARY 1, 2016

Customer acquisition is top of mind for many incumbent banks. They want to win new customers and prevent the loss of profitable current relationships. Received wisdom is that increasing “stickiness” will help customer retention. Based on a wonderful natural experiment in the UK, I contend that the resources currently being used to increase stickiness could better be used elsewhere.

Regulation 100

Regulation Resources Study Marketing 100

SWBC's LenderHub

FEBRUARY 5, 2016

Most of us cringe when the phone rings, and we find ourselves on the receiving end of an uninvited sales call. Bill collection calls are even more unwelcome, but of course collection calls are inevitable if due dates lapse with no payment received. When collection calls are unwarranted, there’s a fine line between those calls and harassing telemarketing calls.

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Course US Technology Payments 65

CFPB Monitor

FEBRUARY 3, 2016

Barbara S. Mishkin. As anticipated, in conjunction with its field hearing today, the CFPB announced several steps it has taken to improve consumer access to checking accounts. These steps consist of a sending a letter to the 25 largest retail banks encouraging them to offer and market “lower-risk” deposit accounts “to help consumers avoid overdrafts,” issuing a bulletin “warning banks and credit unions that failure to meet accuracy obligations when they report nega

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Policies Resources Regulation Compliance 60

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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

FEBRUARY 1, 2016

Innovation requires understanding your client base and providing differentiated services that clients will find value in. Banks must innovate and be nimble to address emerging client needs in the neighborhoods they serve. As community banks, we must recognize and be responsive to what our clients are demanding of us. Innovation efforts should focus on the client experience in terms of both the physical engagement within the bank space as well as how we address the personal relationship with our

Innovation 52

Innovation Missouri Kansas City Kansas 52

ABA Community Banking

JANUARY 31, 2016

How the blockchain’s going to change your life Management Lines of Business Technology Blogs Books for Bankers.

Management 58

Management Technology 58

SWBC's LenderHub

FEBRUARY 3, 2016

Financial institution borrowers expect a wide range of valuable services. In particular, they appreciate services that have their backs. For example, Guaranteed Asset Protection (GAP) coverage gives them a safety net if their vehicles are ever totaled or stolen and not recovered—helping cover the difference between insurance companies’ reimbursement fees and, in most cases, the actual cost of replacing the vehicle.

Examples 60

Examples Company Marketing Lending 60

CFPB Monitor

FEBRUARY 1, 2016

Barbara S. Mishkin. The CFPB has issued its January 2016 complaint report which highlights “other financial service” complaints and complaints from consumers in New York State and the New York metro area. In addition to the major complaint categories consumers can use when submitting online complaints to the CFPB, there is a miscellaneous category labeled “other financial service.” This category includes complaints about debt settlement, check cashing, credit repair, re

Metro 60

Metro New York Montana Mississippi 60

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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

FEBRUARY 2, 2016

There are lessons to be learned from experiences in retail. Regardless of how and why they hit the market, some technology-driven innovations seem to lend themselves to particular vertical markets and/or disciplines. Wearable technologies? Ideal for healthcare—fitness tracking alone represents a big draw, and there’s much more to come. Social channels?

Retail 45

Retail Strategy Boston Industry 45

Disruptive Finance

JANUARY 31, 2016

Most people who have an interest in Fintech have heard of Atom, Starling, Fidor, Mondo or Number 26. Some might have heard of Loot, or Holvi. But there is a fascinating bank that most people have never heard of, and that’s certainly because this French challenger bank doesn’t seem to seek any international visibility. Let’s take a step back(.).

Fintech 48

Fintech Strategy 48

ABA Community Banking

FEBRUARY 3, 2016

Partying deer to “car for a day,” interactive ad site provides humor and sales opportunity Management Lines of Business Blogs Social Media.

social media 50

social media Management 50

Bankelele

FEBRUARY 4, 2016

A guest post by @KaranjaJohn. Bitcoin in Kenya has generated a lot of controversy with the Central Bank of Kenya issuing a public notice warning against the use of bitcoin as a currency within the country. While currency regulation and monetary policy is within the purview of the Central Bank, it is important to dig deeper into what could be the most revolutionary technology of our age and how best we can we move forward with ensuring Kenya and indeed the African continent exploits fully the opp

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Bitcoin blockchain Regulation social media 44

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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