South State Correspondent
JANUARY 25, 2016
If you are a bank that believes delivering superior service is a function of being friendly and knowing your customers, then likely your bank lacks a strategic advantage. To truly deliver differntiating customer service, you not only have to find customers that care about banking and their financial future, but your bankers need to care more about your customer’s future than they do.
Abrigo
JANUARY 29, 2016
Financial institutions that structure and optimize pricing for loans are able to make sure they are adequately compensated for the risk they are taking. Instead of pricing loans based on a “gut feel” or a request to match or beat competitors’ rates, institutions that utilize loan-pricing models incorporate a more methodical approach. Benefits of loan pricing This methodical approach can help ensure the best loan and terms are matched to the borrower so that the financial institution makes the sa
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Accenture
JANUARY 26, 2016
Cyber security is a top-of-mind issue with no easy answers and no absolute protections. Cyber attacks are frequent, evolving, costly—and no retail bank is totally immune. Becoming cyber resilient A recent Accenture point of view challenges financial services organizations to. Read more.
Celent Banking
JANUARY 28, 2016
The question in the title of this post has become a rather hot topic lately. Earlier this week, I was kindly invited to join the panel on “what’s hot in Fintech” at Citi’s Digital Money Symposium, and it was one of the central questions we debated as a group. My colleague Stephen Greer has also discussed Bank-Fintech relationships on these very pages, for example, see here and here.
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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
South State Correspondent
JANUARY 27, 2016
Having more bankers to throw at a borrower or more assets to flaunt does not make a bank more effective. Strategy beats size every time, but bankers need to be smart how to position themselves against large banks. When it comes to loan mix, community banks need to be careful to assemble their assets with enterprise risk in mind. In particular, the increase in commercial real estate (CRE) and specifically, High Volatility Commercial Real Estate (HVCRE) is starting to be a concern.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Insights on Business
JANUARY 25, 2016
What do you think will happen in 2016? Here are my top 10 payments predictions: # 1 Wallet Wars. Clarity around who will dominate the wallet market becomes cloudy. # 2 Apple loses its shine. Initial Apple Wallet momentum slows. Competition fights back with alternatives. # 3 Banks fight back. The demise of banks is greatly overstated. Banks get smart and start investing in their future. # 4 Blockchain.
Celent Banking
JANUARY 25, 2016
Only a couple years ago, as mobile banking was growing rapidly, and the conversation around development strategies was at its height, tablets played a prominent role in channel strategies at the largest and most digitally mature institutions. The consumer interest in tablets over the last year or two, however, has plateaued—even waned. Tablet is nowhere near dead, but sales have started to level off.
South State Correspondent
JANUARY 28, 2016
Before there was banking, there was trust services. Discussed by Homer and then Aristotle, the concept has its roots in both Roman and Islamic law. However, it was English law in the 12 th century that had to perfect the structure for noble landowners to pass their estate on to the next generation. As anyone that has seen Game of Thrones will attest, that can get messy.
Abrigo
JANUARY 27, 2016
By Jeff Borschowa Author, Freelance Writer, Speaker, Growth Specialist at Dream Practice Possible Errors Accounting is a risky business. Many accountants I know, myself included, worry about what could happen if we were to be sued. The sad reality is that accounting professionals are a target and are at risk for malpractice lawsuits. If we are conducting audit and review engagements, there is a real risk that an accountant may: • Fail to notice suspicious activity • Miss signs of fraud • Misinte
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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
Independent Banker
JANUARY 28, 2016
Applying the U.S. Supreme Court’s decision on disparate impact. Last year the U.S. Supreme Court held that financial institutions could be held liable for neutral practices that pose adverse lending decisions against certain borrowers, even when there is no intent to discriminate, but with restrictive guidelines. Lilly Thomas, ICBA’s vice president–senior regulatory counsel, talked with Independent Banker about what impact the high court’s ruling could have on the fair lending examinations for c
Insights on Business
JANUARY 25, 2016
What do you think will happen in 2016? Here are my top 10 payments predictions: # 1 Wallet Wars. Clarity around who will dominate the wallet market becomes cloudy. # 2 Apple loses its shine. Initial Apple Wallet momentum slows. Competition fights back with alternatives. # 3 Banks fight back. The demise of banks is greatly overstated. Banks get smart and start investing in their future. # 4 Blockchain.
South State Correspondent
JANUARY 25, 2016
Last week we wrote about how some banks are already starting to raise rates and how banks are adding deposits due to lower energy prices creating more disposable income. In the past, we have also showed how today depositor, given the rate environment, is more fee / attribute sensitive, than rate sensitive. Because of the confluence of trends, community banks must make sure to get their deposit pricing right in order to optimize their positioning.
Cisco
JANUARY 25, 2016
I’ve been using online banking for a while now. Just the other day, I had a quick question and saw “Chat Live with a representative” so I decided try it out. As I got comfortable asking a few questions, I started to want to do more. I wanted to talk with the banker. And I’d like the banker to look at my account page with me so I knew we were looking at the same information.
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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.
Independent Banker
JANUARY 26, 2016
By Camden R. Fine, President and CEO of ICBA. The truth will set you free—even, occasionally, in Washington’s policymaking circles. Members of the Financial Accounting Standards Board (FASB) recently rediscovered that lesson led by ICBA’s insistent, firmly guiding hand. FASB awoke wide-eyed and astonished to the liberating truth that community banks played no role in either triggering or participating in the Wall Street financial crisis.
Insights on Business
JANUARY 25, 2016
What do you think will happen in 2016? Here are my top 10 payments predictions: # 1 Wallet Wars. Clarity around who will dominate the wallet market becomes cloudy. # 2 Apple loses its shine. Initial Apple Wallet momentum slows. Competition fights back with alternatives. # 3 Banks fight back. The demise of banks is greatly overstated. Banks get smart and start investing in their future. # 4 Blockchain.
CFPB Monitor
JANUARY 29, 2016
Gary W. Becker. A new report by Human Rights Watch (HRW) titled “Rubber Stamp Justice—US Courts, Debt Buying Corporations, and the Poor” is likely to find readers at the CFPB, which is expected to move closer early this year to proposing debt collection regulations. In its Fall rulemaking agenda , the CFPB estimated that further prerule activities would occur in February 2016.
Matt Wilcox Pro
JANUARY 28, 2016
My new article for The Financial Brand on the mobile banking explosion’s positive effect on revenue and customer retention is now online. Read it by clicking here or on the image at right.
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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.
Independent Banker
JANUARY 26, 2016
ICBA has planned an educational lineup of more than 60 workshops and networking sessions for next month’s Community Banking LIVE conference in New Orleans. Many workshops will address changes shaping our industry today as well as its future. Here’s what three of those forward-looking workshops will be covering. On New Competitors. Digital Jujitsu. Community banks can beat tech-based, nontraditional competitors at their own game.
Jeff For Banks
JANUARY 28, 2016
If you are a family bank and want to sell your shares without selling the bank, what do you do? So was the question that my colleague, Sharon Lorman, put to me in my firm's very first podcast edition of This Month In Banking (follow link to listen!). The question is not for family banks alone. But all banks that are privately held or have one or a few very large shareholders.
CFPB Monitor
JANUARY 28, 2016
Barbara S. Mishkin. An attempt by the Pennsylvania Attorney General to use her Dodd-Frank Section 1042 authority recently met with only partial success in Pennsylvania federal district court. Section 1042 allows state attorneys general and regulators to bring civil actions for violations of Dodd-Frank’s prohibition of unfair, deceptive, or abusive acts or practices (UDAAP).
SWBC's LenderHub
JANUARY 26, 2016
Krebs on Security is a daily blog that provides detailed insight for information and cyber security, authored by Brian Krebs, an American journalist and investigative reporter. A couple weeks ago, I ran across the blog post below and thought I should pass it along to everyone I knew. The post outlines Krebs' recent brush with cyber crime, where a hacker hijacked his PayPal account and then attempted to send his PayPal funds to an organization tied to ISIS.
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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.
Independent Banker
JANUARY 26, 2016
Photo: Getty Images / Martin Barraud. Ideas, programs and resources to boost local entrepreneurship. By Judith Sears. Cheering on business startups is about as American as apple pie, and with good reason. Studies by The Kauffman Foundation, among others, have shown that new businesses account for nearly all net new job creation and almost 20 percent of gross job creation.
Matt Wilcox Pro
JANUARY 26, 2016
A MARKETING ASSOCIATE picked up an interesting tidbit of information in the course of a recent social media campaign. He found that the campaign pulled plenty of views, clicks, and sales on weekdays between 9 a.m. and 5 p.m., and almost none on weekdays after 5 p.m. and on holidays and weekends. At first blush, [.
CFPB Monitor
JANUARY 28, 2016
Barbara S. Mishkin. Senator Elizabeth Warren is scheduled to be the keynote speaker today for “ National Student Debt Day ,” an event in Washington, D.C. for “student loan activists from around the country.” The event is sponsored by Young Invincibles , which describes itself as “a national organization, working to engage young adults on issues, such as higher education, health care, and jobs.” Her remarks can be expected to fuel CFPB and Department of Educati
SWBC's LenderHub
JANUARY 25, 2016
Bank of Canada Chairman, Stephen Poloz, had one of those, “Want to get away?” moments last week as he found himself between a rock and a hard place. Wednesday morning, the Bank of Canada (BOC) decided against cutting its Overnight Lending Rate from 50 basis points to 25 basis points. Many in the markets were surprised by this decision. After all, the Canadian economy, heavily reliant on the export of energy and industrial metal commodities, has been reeling for over a year.
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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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