South State Correspondent
AUGUST 31, 2015
You have probably experienced this at your bank - You hold a shareholder meeting and of your 1,000 shareholders, only twenty people showed up and ten were directors, two were past employees and five were there for the free lunch. Your chairwoman shrugs at the turnout and then jokes that at least you don’t have any activist in the crowd. You all have a quick meeting, a good lunch and then get back to work.
Celent Banking
AUGUST 31, 2015
It’s no secret that banks are increasingly interested in using digital channels to sell to customers. With that in mind, I tried to open accounts at 26 U.S. banks using only the digital channel, typically online, but sometimes via my smartphone. I evaluated the processes solely from the consumer’s perspective. A checking account applicant doesn’t care how hard it is to change processes, doesn’t know how difficult it can be to deal with compliance, or understand why banks have to collect so much
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Accenture
SEPTEMBER 4, 2015
The frequency and scale of regulations relating to Global Structural Reform (GSR) may make us light-headed, but for many banks and institutions opportunity resides within this changing marketplace. In my previous posts we talked about how GSR is driving permanent. Read more.
Abrigo
SEPTEMBER 2, 2015
With the inevitable retirement of baby boomers, it is critical to have plans in place for developing the future leaders of your firm. This process begins by hiring potential partners who have the potential to grow into your firm’s cash cow. How does your firm begin to identify and draw qualified candidates that can take your firm to the next level? Katie McConnell, Director of Recruitment and Development at GALLAINA LLP, notes that Millennials currently represent 80 million people or 25% of the
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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
SEPTEMBER 1, 2015
If you’ve ever been to any of our lender training (including our own), you have heard us promote the power of giving every borrower three loan structuring choices. In fact, if you use our free loan proposal generator ( HERE ), it is set up to promote three loan choices. For example, if we are presenting a refinancing option for a commercial real estate property, we would provide a 7-year floating rate, a 7-year fixed rate and a 10-year fixed rate.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Gonzobanker
AUGUST 31, 2015
In our line of work , we see a lot of processes and benchmark a lot of data. Here are four statistics that will blow your mind: 75% of time spent with new customers involves computer input versus building relationships through a conversation. More than 50% of banks still originate commercial loans manually. 60% of financial institutions still use a paper-based new accounts process.
Jack Henry
SEPTEMBER 2, 2015
Author: Brad Dahlman, BDahlman@profitstars.com. We all know it will happen, the real question is when? As the Federal Reserve monitors unemployment inflation and global markets closely, it is widely expected that the federal-funds rate will be increased in the last quarter of 2015. It has been almost ten years since the Fed raised rates! The Fed dropped rates from 2006 to 2008 and has held them steady ever since.
Independent Banker
AUGUST 31, 2015
The rise of electronic transaction channels has transformed the banking industry, making smaller, less expensive branches a reality and sparking new opportunity for the ATM. Today’s advanced technology provides new ways for ATMs to deliver a secure, enhanced customer experience, lower costs and increased revenues. Harnessing this opportunity to maintain a competitive edge, however, requires that your financial institution have the right ATM migration plan.
Celent Banking
SEPTEMBER 3, 2015
I am delighted to announce that we now accept nominations for Model Bank 2016. Most regular readers of our blog will be familiar with the Model Bank programme – it recognizes effective use of technology in banking and is now in its ninth year. Model Bank is the most prestigious award a financial institution can receive from Celent. We celebrate the winners and their initiatives at Insight and Innovation Day (I&I), our flagship event.
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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
Javelin Strategy & Research
AUGUST 31, 2015
As the October 1, 2015, date for EMV liability shift looms , it seems like everyone is gearing up for this momentous event. Banks are issuing new EMV chip cards, merchants are installing new terminals, cashiers are receiving new instructions, and so forth. Everyone is getting ready — except us consumers. Many of us have received our new cards (I got mine just last week from Chase) but are not quite sure why they were sent since the old ones haven’t expired, and we wonder how the in-store shoppin
CFPB Monitor
SEPTEMBER 2, 2015
John L. Culhane, Jr. Pursuant to a March 2015 Presidential directive, an interagency task force consisting of the Department of the Treasury, Department of Education, Office of Management and Budget, and Domestic Policy Council has issued recommendations on best practices in performance-based contracting intended to ensure that federal student loan servicers “help borrowers responsibly make monthly payments on their student loans.” In developing its recommendations, the task force c
ABA Community Banking
SEPTEMBER 1, 2015
Channelization, millennials, profits—Oh my! Retail Banking Making Sense of it All Channels.
Celent Banking
SEPTEMBER 1, 2015
This question comes up often. As a research and advisory firm, Celent fields ad-hoc research with regularity. No matter how well thought out our surveys, however, we nearly always wish we could have asked additional questions. This led us to launch two research panels focused on topics representing significant and growing interest among Celent clients.
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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.
Banking 2020
SEPTEMBER 1, 2015
While it is important for banks and credit unions to consider the needs of consumers, it’s also important for FIs to take employee needs into consideration as well. Michelle Dearholt, SVP of Human Resources at Nusenda Credit Union discusses how recent healthy initiatives have helped employees at Nusenda Credit Union improve their lives, both at work and outside of work.
CFPB Monitor
SEPTEMBER 2, 2015
Barbara S. Mishkin. In a new report on the CFPB’s hiring processes, the Office of Inspector General (OIG) for the Fed and CFPB found that the CFPB’s Office of Human Capital (OHC) did not always follow established hiring controls. For example, the OIG found that not all job analysis forms had evidence of managerial approval. According to the OIG, such forms are used by the OHC to document the qualifications needed for a position and the analysis informs how the OHC develops its ass
ABA Community Banking
SEPTEMBER 2, 2015
Social’s here to stay. Fitting it into your bank’s strategy requires a measured approach Management Blogs Social Media.
Bankelele
SEPTEMBER 1, 2015
For almost 300 kilometres between Nairobi and Mombasa, the face of Kenya is changing as building works for the first phase of the new Standard Gauge Railway (SGR) quietly continue at a grand, fast pace. China Road and Bridge Corporation is the main contractor, and you can follow the Megaprojects Kenya blog to keep track of the SGR progress.
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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.
Banking 2020
SEPTEMBER 4, 2015
Below are interesting stories the Banking.com staff has been reading over the past week. Articles via Banking Exchange, PYMNTS.com, Enterprise Innovation. Mobile check deposits continue to rise: A recent survey found that one in seven Americans have deposited a check using a mobile device within the past year. However, people are using checks less frequently so it is important to keep both facts in mind when discussing mobile check deposit options for your financial institution.
CFPB Monitor
SEPTEMBER 2, 2015
Barbara S. Mishkin. The FTC has announced that it is moving its second “Debt Collection Dialogue,” scheduled to be held in Dallas, Texas on September 29, 2015, to a larger venue. The FTC is moving to the larger venue because the number of pre-registrations had almost reached the maximum for the previously scheduled venue. It is also re-opening pre-registration, which closed on August 13.
ABA Community Banking
SEPTEMBER 3, 2015
“Easy as Instagram,” indicates latest research Retail Banking Payments Channels Mobile Feature Feature3.
Bankelele
SEPTEMBER 4, 2015
This week saw satellite TV provide Multichoice Kenya increase the price of their DSTV satellite TV subscription service, with the top (premium) package now going to cost Ksh 9,400 (~$92) per month from October – an increase of almost 15%. This has since been debated on several fronts, one of which was a cost comparison with South Africa pricing where the company is based.
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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.
Javelin Strategy & Research
AUGUST 30, 2015
As the October 1, 2015, date for EMV liability shift looms , it seems like everyone is gearing up for this momentous event. Banks are issuing new EMV chip cards, merchants are installing new terminals, cashiers are receiving new instructions, and so forth. Everyone is getting ready — except us consumers.
CFPB Monitor
AUGUST 31, 2015
Barbara S. Mishkin. Banks and other companies subject to the CFPB’s jurisdiction face the possibility that the CFPB could begin using its authority under Sections 1031 and 1036 of the Dodd-Frank Act (which proscribe unfair, deceptive or abusive acts or practices) to regulate cybersecurity policies and procedures. For companies also subject to the FTC’s jurisdiction, however, the threat of FTC regulation of their cybersecurity policies and procedures is significantly more imminent in
ABA Community Banking
AUGUST 30, 2015
11 ideas from community bankers and other experts—share yours too CSuite Community Banking.
Your Full Potential
SEPTEMBER 1, 2015
U.S. President Theodore Roosevelt once said, “Speak softly and carry a big stick.” This phrase became the cornerstone of Roosevelt’s foreign policy. This post is not about foreign policy. It is, however, going to address the need for simple and straightforward communication in a world filled with nuance, metaphor, and hyperbole. Clear and concise communication is what sustains productivity and profitability.
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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