South State Correspondent

MAY 6, 2015

Banking has become too competitive to market by instinct our haphazard advertising. This is why we toured the industry to find what metrics the most effective banks were using to gauge effectiveness and hopefully success. Successful banks separate marketing programs that have a goal of brand support versus those that focus on sales. While branding is hard to benchmark, sales is more straightforward and is the place that most banks start.

Marketing 199

Marketing Resources Branding Industry 199

Finer Points

MAY 6, 2015

Last week’s ICBA Washington Policy Summit showed once again that community bankers are not only willing to go the extra mile—they’re even grateful for the privilege. With nearly 1,000 community bankers and industry advocates in the nation’s capital to advocate positive reform in more than 300 meetings with policymakers, there was a feeling of enthusiasm […].

Washington 195

Washington Community Policies Meeting 195

Celent Banking

MAY 5, 2015

Monday was the UK bank holiday, so some of us just came back to work after a long weekend. Many across the country used the extra time to do a bit of spring cleaning. I also found myself rummaging through some old materials and came across an interesting paper on how financial markets might look in 2020. Let me share a few quotes: “The basic financial functions […] will not change, although how we perform these functions will change.” “By 2020, a true global marketplace w

Kansas City 186

Kansas City Kansas Conference Security 186

Abrigo

MAY 7, 2015

Written by Zeb Zilar, Project Lead, Sageworks Valuation Solution Baby boomers are hitting age 65 at a rate of 10,000 a day until 2030, according to the Pew Research Center. Another study showed that 65 percent of new business sellers in Q1 of 2014 were baby boomers. The transfer of wealth that is beginning to occur for the baby boomer generation is significant, and it’s clear from a recent poll by Sageworks that the baby boomer demographic is a frequent client of valuation professionals.

Millennials 174

Millennials Study Meeting Strategy 174

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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

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South State Correspondent

MAY 7, 2015

A popular night club represents the perfect allegory for creating a value-fueled bank and should be an exercise that you complete at your next strategic planning meeting. Consider a popular club with its red velvet rope and a line of good looking people waiting to get in. If this is the case, the club can make the decision of who it lets in and how much to charge all the way up to the point where that line ceases to exist.

Exercises 188

Exercises Meeting 188

CFPB Monitor

MAY 6, 2015

Kim Phan. The CFPB recently released a report that documents the results of a research project undertaken by the CFPB’s Office of Research to better understand the demographic characteristics of consumers without traditional credit reports or credit scores. The Report concludes that the current credit reporting system is precluding certain populations from accessing credit and taking advantage of other economic opportunities.

Report 94

Report Study Industry Lending 94

Abrigo

MAY 8, 2015

In recent months, the momentum around reducing the regulatory burden on the nation’s community banks has continued to gain steam. There are more than 6,000 banks and thrifts under $10 billion in assets and they are often less equipped to deal with complexities brought by additional regulations. However, the regulatory landscape continues to evolve, leaving resource-constrained community banks to cope with new demands.

Community Bank 150

Community Bank Community How To Meeting 150

South State Correspondent

MAY 5, 2015

As of December 2014, there were 6,518 FDIC insured financial institutions. Of the total number of insured financial institutions, 1,872 were less than $100mm in total assets while 3,477 were less than $200mm in total assets. At the top of the asset range, there were only 36 institutions with assets greater than $50B, and those 36 institutions account for 71% of all assets ($11.06B), 63% of all loans ($5.23B), and 69% of all deposits ($8.2B).

FDIC 188

FDIC Regulation Industry Data 188

SWBC's LenderHub

MAY 6, 2015

More and more, financial institutions are beginning to accept and embrace their role as financial educators. You are no longer simply the provider of checking accounts, credit cards, and auto and home loans; your customers are looking to you to answer their most pressing financial questions. We talk a lot about the importance of institutions finding a way to break past the competition by moving beyond low rates and offering their members real value.

Cards 89

Cards 89

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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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Jack Henry

MAY 6, 2015

Author: Richie Dodgen, RDodgen@jackhenry.com. We are an extremely mobile society. Most of us own multiple mobile devices: phones, tablets, and wearables; and as customers, we are accustomed to interacting with retail businesses via a mobile device. Traditional forms of banking technology and delivery channels don’t completely satisfy this customer preference, but the good news is that changes in the banking industry and bankers’ eagerness to adopt new technology are beginning to bring about a ne

Mobile 88

Mobile Retail US Technology 88

Abrigo

MAY 6, 2015

By Michael Sferratore, Vice President of ProfitCents One of the unintended consequences of auditing changes in the wake of accounting scandals since Enron and WorldCom is that some investors and regulators have come to believe that accounting can be an exact discipline – where objective practitioners uncover “the truth” by simply following prescribed steps that leave little room for subjectivity.

Analytics 150

Analytics Compliance Analysis Data 150

South State Correspondent

MAY 4, 2015

Community banks are usually big givers when it comes to charity so it makes sense that having a permanent account offering that provides money to charity should be in the account line up. A charitable account is often structured as a non-interest bearing account that accrues and pays interest to a designated charity. The other common alternative structure is to create a one-time donation should the account obtain a certain deposit balance.

Video 188

Video Community Bank Community 188

CFPB Monitor

MAY 4, 2015

Marc Patterson. On May 26, 2015, the CFPB and Federal Reserve will be co-hosting the fifth and final webinar in their series on the TILA-RESPA integrated disclosures (TRID) rule. Presumably, the reference to this webinar being the “final” webinar is intended to mean that it is the final TRID webinar before the rule becomes effective on August 1, 2015.

Software 88

Software Industry Operations Technology 88

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Jeff For Banks

MAY 2, 2015

Five years ago I wrote that bankers should look outside the typical talent pool for our next generation of leaders. This week, an executive recruiter contacted me again for an "experienced banker" to be the heir-to-be CEO of a community bank. Problem: the last heir-to-be that this bank hired didn't pan out. I can only speculate why, but I told an industry friend that I suspected that the candidate probably had new-fangled ideas on banking that didn't jive with the old-schooler.

Community 79

Community Leadership Training Community Bank 79

Banking 2020

MAY 5, 2015

Remember the good old days, when there was just one bank in town, and it served all of your needs? Chances are that same bank was where your parents and grandparents banked, and you just made your deposits and withdrawals and went about your business. Today’s banking landscape is far different from that of even just a decade or two past. For many financial institutions, the solution to dwindling customer satisfaction — and a shrinking customer base — is to build stronger relationships.

How To 68

How To Software Management Fraud 68

Javelin Strategy & Research

MAY 7, 2015

I always circle the spring Finovate show on my calendar because it offers insight into the future of fintech. Inevitably, two questions get asked: First, which of these companies should be on the radar for bankers, investors, and consumers? Second – and this is my favorite part of the hobnobbing and side bets – which one of the startups will exhaust their oxygen and cash first?

Trends 64

Trends San Jose User Experience System 64

CFPB Monitor

MAY 4, 2015

Joel E. Tasca. Last week, in Morgan Drexen, Inc. v. Consumer Financial Protection Bureau , a divided panel of the D.C. Circuit Court of Appeals affirmed the dismissal of an action challenging the constitutionality of the CFPB. The court did not reach the merits of the constitutional challenge, but rather held that the district court properly dismissed the case for lack-of-standing, and for failure to demonstrate that declaratory and injunctive relief were procedurally proper.

District of Columbia 81

District of Columbia California Exercises Regulation 81

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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

ABA Community Banking

MAY 5, 2015

“Don’t it always seem to go, you don’t know what you got ’til it’s gone!” Payments Blogs Beyond the Bank Mobile.

Mobile 61

Mobile Payments 61

Banking 2020

MAY 7, 2015

*Disclosure: Banking.com is powered by Digital Insight. Security has long been, and continues to be, a hot topic in the financial services industry. From new tech developments to hackers, security is top of mind for both consumers and financial institutions. As part of their 2015 Momentum Webinar Series, Digital Insight is hosting a free webinar, “ Identities at Risk –Online Bankers and Brands ” on Wednesday, June 3, 2015.

Branding 61

Branding Online Security Digital Banking 61

Tefkin

MAY 6, 2015

While Insurance is a massive industry, for example net premiums for life and P&C insurance the US are estimated worth around $1,000,000,000,000 (yes that is twelve zeros) I believe it has just been barely affected by the massive software driven changes that other industries are experiencing. At core, the Insurance industry is impacted by the same underlying trends as the Banking Industry: Transparency.

Industry 50

Industry Examples Google Big Data 50

CFPB Monitor

MAY 4, 2015

Marc Patterson. On May 21, 2015, from 2:00pm to 3:30pm, the FDIC’s Division of Depositor and Consumer Protection will host a teleconference as part of its periodic series of events for bankers on important bank regulatory and emerging issues in the compliance and consumer protection area. According to the announcement, the upcoming teleconference will focus on the implementation of the CFPB’s mortgage rules.

FDIC 73

FDIC Compliance 73

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Lending

ABA Community Banking

MAY 7, 2015

Portfolio “trigger points” create an early warning line for credit management Lines of Business Risk Management Blogs Risk Adjusted Credit Risk.

Risk Management 54

Risk Management Management 54

Banking 2020

MAY 8, 2015

Below are interesting stories the Banking.com staff has been reading over the past week. Articles via CUToday.info, Biometric Update, Bank Technology News. The impersonal touch: consumers prefer mobile over phone, in-branch: According to a recent survey, United States consumers prefer mobile banking over online, branch and telephone banking. Analysts positive on biometric industry future: A recent quote estimates that the global biometrics market will see a total, cumulative revenue of $67.8 bil

Mobile 51

Mobile United States Survey US 51

Javelin Strategy & Research

MAY 6, 2015

I always circle the spring Finovate show on my calendar because it offers insight into the future of fintech. Inevitably, two questions get asked: First, which of these companies should be on the radar for bankers, investors, and consumers? Second – and this is my favorite part of the hobnobbing and side bets – which one of the startups will exhaust their oxygen and cash first?

Trends 40

Trends Innovation Fintech Company 40

CFPB Monitor

MAY 7, 2015

Barbara S. Mishkin. The CFPB recently announced that it had entered into a consent order with a land-development company and several individuals involved in the company’s operations to settle charges that the respondents violated the Interstate Land Sales Full Disclosure Act (ILSA). According to the findings of fact and conclusions of law in the consent order which were admitted by the respondents, the respondents made misrepresentations related to the roads in a Tennessee property develo

Tennessee 60

Tennessee Report Operations Company 60

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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