South State Correspondent

AUGUST 25, 2015

If you are looking to make best-in-class decisions, it pays to have a variety of best-in-class tools at your disposal. Oftentimes, a reason why banks don’t innovate more is because they lack the tools and experience to properly understand the risk and the return. Without a way to quantify the risk, stagnation occurs. As banks develop their risk management culture, it pays to have all managers conversant in the proper tools to manage risk.

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Celent Banking

AUGUST 27, 2015

In my last post, I talked about the experience of using my credit card in the US, and how just inconsistent it feels. Some of it was undoubtedly tied to security – using photo ID or entering zip codes – though I’m far from convinced that they provided any security at all. In some conversations we’ve had, there has been a feeling that US fraud is actually manageable at an industry level – a belief that they are in line or better than in many other countries.

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Abrigo

AUGUST 28, 2015

The 2015 Risk Management Summit is less than a month away. Executives from more than 100 banks and credit unions representing 39 states have already registered to join their peers, industry experts and Sageworks in Chicago for the premier ALLL and stress testing conference. Registration is still open, but very limited seats remain. Here’s why this is the most popular Risk Management Summit to date: 1.

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Accenture

AUGUST 24, 2015

One trend to come out of our recent Global Consumer Pulse Research that banks might consider good news is the high but slowing growth in customer service expectations—a slowdown which is giving banks a chance to re-evaluate the ways they. Read more.

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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

AUGUST 27, 2015

It has been said that the shareholder letter is up there with reading ingredients on the back of oatmeal and academic studies on mono-phase phosphates. In the spectrum of shareholder letters, bank letters happen to be on the snoozy side of yawnsville. Of course, it doesn’t have to be like that. Berkshire Hathaway has undoubtedly the best shareholder letter in corporate America.

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America Study Course 197

Abrigo

AUGUST 26, 2015

“… it’s not 2008.”. This is the sentiment of several high-profile executives regarding the National Credit Union Administration’s (NCUA) stance on examination cycles for credit unions. There’s been much back and forth over the last week on this subject and the NCUA’s desire to stick to a 12-month examination cycle for the financial institutions it regulates.

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Jack Henry

AUGUST 26, 2015

Author: Derik Sutton, DSutton@ProfitStars.com. As financial services become more reliant on the technology we leverage to better serve our clients , it would benefit us to view our own product processes through a modern lens. I believe these principles are not only applicable to building software applications and services, but can also be applied to a financial institution (FI) building a new account type or updating its customer service as it relates to digital customers.

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User Experience UX Software US 95

South State Correspondent

AUGUST 26, 2015

It comes as no surprise to the educated and insightful community banker that our customers do not care about our products and services. Wait, read on and don’t pass judgment yet! What we mean by that is that customers don’t care about the way we underwrite loans, our construction terms, our deposit rates or how we gather checks remotely. None of that matters to customers.

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Jeff For Banks

AUGUST 22, 2015

If you haven't read the New York Times article on Amazon working conditions , you should. By trying to create a meritocracy, the unintended consequence included nothing more than petty zinging and flaming. The kind you see on social media. Except at least Amazonians do it to your face, but in a public setting. My response to reading the article is in my tweet below.

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social media Meeting Innovation New York 90

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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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Abrigo

AUGUST 25, 2015

Current technology has enabled auditors to analyze extensive amounts of financial data, allowing accounting professionals to more easily identify areas of risk. These technologies have also helped streamline time per audit and produced higher quality assurance. Is your firm taking advantage of these current technologies? What might the future of audit technology look like?

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Technology Big Data Software Analysis 150

CFPB Monitor

AUGUST 27, 2015

Barbara S. Mishkin. The CFPB has issued its August 2015 complaint report, the second in its new series of monthly complaint reports. When it announced the launch of the new reports last month , the CFPB stated that each report would spotlight a particular product and geographic location. The August 2015 spotlights credit reporting complaints and complaints from consumers in the Los Angeles, California metro area.

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South State Correspondent

AUGUST 24, 2015

Of all the sayings, “having your cake and eating it too” is perhaps the most moronic. Where did this saying come from and who is the clown that started it that wanted their cake, but didn’t want to eat it? Regardless, when it comes to reducing operating cost and keeping your customers happy, we have a way that banks can have their cake and a slice. .

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Operations 188

Banking 2020

AUGUST 25, 2015

It’s all too easy to talk about payments in terms of convenience from the very narrow consumer perspective. It’s easier to tap and go with your contactless card than to use cash at a till, but is it really transforming lives? In the developing world, however, the power of mobile banking and payments to radically improve the lives of people in poverty is something that deserves attention.

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Mobile Examples National Payments 80

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Matt Wilcox Pro

AUGUST 25, 2015

Why “an AOS app” may not be enough REMEMBER WHEN telephones were clunky, corded things you plugged into a wall and used only for the now quaint, so last-century practice of talking? And when offering phones in a choice of colors was a major step forward? Thank goodness the Dark Telephonic Ages are behind us. [.

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US 73

CFPB Monitor

AUGUST 24, 2015

Scott M. Pearson and Jeremy T. Rosenblum. A new lawsuit, filed by the CFPB and the New York Department of Financial Services. (NY DFS) in a California federal court against two pension advance companies and three of the companies’ individual managers, again demonstrates the aggressive approach taken by both agencies. The lawsuit follows a consumer advisory issued by the CFPB in March 2015 regarding “pension advance traps to avoid.” The complaint , alleges that the defendants

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Independent Banker

AUGUST 26, 2015

A Pennsylvania community bank’s perspective on the rewards and potential perils of developing a separate business line. By Katie Kuehner-Hebert. Forming new business lines—if carefully planned and considered—can be a potentially significant way for a community bank to boost revenues and profits. But just as their upsides are significant, the downsides of new propositions for community banks can create more problems than opportunities.

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Banking 2020

AUGUST 27, 2015

ATM skimming remains a big business for organized crime rings. According to a recent article in ATMMarketplace.com, card skimming accounted for more than $2 billion in losses. One new approach that banks are exploring to mitigate this particular vector of fraud is the notion of using smartphones as a second factor of authentication since most people always have their phone with them.

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ATM User Experience Fraud UX 66

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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

AUGUST 27, 2015

Federal judge addresses BSA/AML practice improvements Compliance Blogs AML & Fraud BSA/AML.

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CFPB Monitor

AUGUST 25, 2015

Alan S. Kaplinsky and Mark J. Levin. We have previously blogged about the comment letter concerning the CFPB’s March 10, 2015 Study on consumer arbitration that we submitted to the CFPB on behalf of the American Bankers Association, the Consumer Bankers Association and The Financial Services Roundtable. That comment letter was highly critical of the conclusions drawn by the CFPB from its own data.

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Independent Banker

AUGUST 26, 2015

Consumer devices are the most vulnerable point for bank cyberattacks. By Maria Korolov. Cybercriminals who attack banks are more likely to focus on their online customers, according to the latest Verizon Data Breach Investigations Report. End-user devices were involved in 82 percent of all financial incidents, compared with about half for all industries on average.

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Massachusetts Industry Data Training 70

Banking 2020

AUGUST 28, 2015

This article originally appeared on BankNews. With the general availability of the.bank registry under way, more than 5,500 applications from over 2,200 banks have already taken place, according to fTLD Registry Services. As the initial rush to claim new domains winds down, many banks are feeling the pressure to join the crowd before they get left behind.

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Security Management Company 58

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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

Javelin Strategy & Research

AUGUST 24, 2015

Small merchants are unclear on how to best approach EMV, but many report that they would be willing to deploy EMV terminals if they could also accept mobile payments including Apple Pay. Are small merchants really looking for a BOGO (buy one, get one) when it comes to upgrading their terminals? Buy a pair shoes and get the socks for free? Could this be the way for merchant acquirers and ISOs to position terminal upgrades to their small biz clients?

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Apple Fraud Samsung Mobile 57

CFPB Monitor

AUGUST 27, 2015

Barbara S. Mishkin. Many readers probably remember Edwards v. First American Financial Corp. for its ill-fated journey to the U.S. Supreme Court. The Supreme Court had granted certiorari to decide the issue of whether a plaintiff who brings a RESPA claim has Article III standing to recover statutory damages in the absence of any actual damages caused by the alleged RESPA violation.

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Exercises Regulation US Payments 65

Independent Banker

AUGUST 26, 2015

Expanding IT security safeguards to cover physical devices. By Collin Canright. With the prevalence and importance of Internet-enabled devices increasing nearly everywhere, community banks should remember to expand the scope of their security policies and network monitoring to cover their hardware, according to computer security experts. Any physical hardware connected to such software systems should be monitored and protected, they say.

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Banking 2020

AUGUST 27, 2015

The US has been identified as the leading country for card fraud, after a new study revealed almost half of global losses to the crime last year occurred in the nation. This is according to The Nilson Report, which found 48.2 per cent of worldwide plastic card losses – including credit, debit and prepaid cards – took place in the US, amounting to $7.86 billion.

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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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