South State Correspondent
AUGUST 5, 2015
Two risk managers were discussing their fear of flying and crashing to their deaths in an airplane. One of the risk managers stated that he had a morbid fear of being on a plane that is blown up by an onboard bomb. The second risk manager asked how he handled this fear, to which the first risk manager replied - “Simple, I bring on board with me a bomb that I have control over, and of course I would never detonate it.
Finer Points
AUGUST 3, 2015
While ICBA continues our full-court press toward advancing community bank regulatory relief all the way through Congress and to the president’s desk, we are also making noticeable headway in raising public awareness of the problem via the national news media. The Washington Times recently ran a special section featuring a series of articles, editorials and […].
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Abrigo
AUGUST 6, 2015
The debate between fair value and historical cost accounting is a hot topic for academics, regulators and investors. As noted by a University of Chicago Booth School research paper and Harvard Business Review , the debate centers on the use of fair value accounting and its impact on the economic crash of 2008, as well as its appropriateness in accounting for companies going forward.
Celent Banking
AUGUST 4, 2015
A few months ago there was a question posed on Twitter which sparked a pretty intense debate : “What makes a bank a digital bank?” Perspectives varied, but after a reading through many of the responses, it seemed most were answering a different question. How far do incumbent banks have to go in order to adjust to the new age of digital financial services?
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
South State Correspondent
AUGUST 4, 2015
We could use your help in spending five minutes to complete this quick survey ( HERE ) so that we can collect your opinion regarding the future of banking. In exchange, we will not only be eternally grateful, but you will be the first to receive the survey results as well as a presentation on the future forces of banking.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
AUGUST 5, 2015
Succession planning, whether you are a sole proprietor or a top 200 firm, is a delicate topic. With such a transition there are not only financial components to consider but also the relational changes that could occur. These changes will not only affect dynamics within the company but also the firm’s relationships with its clients. Within these financial and relational contexts, one of the questions that comes to mind when deciding how the firm will transition is whether or not to develop a par
Finer Points
AUGUST 7, 2015
It’s hard to believe that the August congressional recess is already upon us, but in many ways the community banking industry is well-positioned to take advantage of this pause in the legislative session. While ICBA and community bankers have once again advanced a variety of regulatory relief measures through aggressive advocacy, we’re going to need […].
South State Correspondent
AUGUST 3, 2015
Banks are normally cash flow lenders. For any given loan, we predict what our probability of default is and what our loss given default is expected to be. The factor of those two numbers becomes our expected loss. For that expected loss, a bank needs a certain interest rate to generate a return on that expected loss amount. A lower expected loss amount would require less interest to generate a target return while a higher expected loss requires a higher interest rate to achieve the desired retur
Accenture
AUGUST 5, 2015
Every executive can see the extent to which digital is changing the card business. A convergence of new customer behaviors, technologies, competitors and regulations will require issuers, acquirers and processors to review their overall card strategy to align the customer. Read more.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
Abrigo
AUGUST 4, 2015
It is no doubt that stress tests for the nation’s largest banks can be an anxiety-inducing experience for those institutions being reviewed. Since the passing of Dodd-Frank, more than 30 megabanks are in the hot seat annually while their ability to withstand the financial stress of dynamic shifts in the economy are assessed. The most senior risk management executives at these institutions are under the spotlight, both in the industry and in the media.
Jack Henry
AUGUST 5, 2015
Author: Clarke Farmer, CFarmer@ProfitStars.com. Yep, that title sounded a little cheesy when I read it too. Humor me for a minute, and read on. I met with a small business owner this week and we talked about what he wants to accomplish in the next six months. The business is in industrial coating and injection molding. Although he has a nice building, we did not talk about his commercial mortgage.
South State Correspondent
AUGUST 6, 2015
Like a sublime sports performance, you can tell a banker that is in the zone. They hustle, are organized, are focused and they understand the business of banking. They are also authentic and work well alone, as part of a small strike team or as part of a large organization. They are adaptable, positive and designed to please both the customer and the shareholder.
CFPB Monitor
AUGUST 6, 2015
Marc Patterson. The CFPB has updated the TILA-RESPA implementation materials and resources to make them consistent with the new October 3 effective date for the TILA-RESPA final rule. Specifically, updates have been made to the TILA-RESPA Integrated Disclosures Guide to the Loan Estimate and Closing Disclosure forms, the TILA-RESPA Integrated Disclosure Small Entity Compliance Guide, and the TILA-RESPA Integrated Disclosures timeline example.
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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
Abrigo
AUGUST 3, 2015
According to a recent survey by the American Bankers Association (ABA), more than 46 percent of respondents had to reduce offerings for loan or deposit accounts, or other services, at their bank because of regulatory compliance burdens. The ABA’s 2015 Survey of Bank Compliance Officers , conducted February through March 2015, had participation from more than 450 financial institutions, with almost 80 percent being community banks.
Jeff For Banks
AUGUST 1, 2015
I recently read Playing to Win: How Strategy Really Works by A.G. Lafley , Chairman and CEO of Procter and Gamble, and Roger L. Martin, Dean of the Rotman School of Management at the University of Toronto. The book identified five choices businesses have to make to win, called the Cascade of Choices, because each one cascades from the prior one. And I thought, bravo!
South State Correspondent
AUGUST 3, 2015
Banks are normally cash flow lenders. For any given loan, we predict what our probability of default is and what our loss given default is expected to be. The factor of those two numbers becomes our expected loss. For that expected loss, a bank needs a certain interest rate to generate a return on that expected loss amount. A lower expected loss amount would require less interest to generate a target return while a higher expected loss requires a higher interest rate to achieve the desired retur
CFPB Monitor
AUGUST 3, 2015
Barbara S. Mishkin. The CFPB has issued its 2015 Plain Writing Act Compliance Report. Under the PWA, federal “executive agencies,” including the CFPB, are required to use plain language in documents that: are necessary for obtaining information about a federal government benefit or service or filing taxes; provide information about a federal government benefit or service; or explain to the public how to comply with a requirement that the federal government administers or enforces.
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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.
SWBC's LenderHub
AUGUST 4, 2015
Email. Can't live with it; can't live without it. As a consumer, how many times have you scrolled through your inbox and wondered, "why on Earth do I get so much junk mail?!" It's okay to admit it. I'm a marketer, and I still feel that way about 92.6% of the time. On the flip side, that "junk mail" lets me know about the upcoming can't-miss concert, the Groupon deal I can't pass up, and when my car is due for its next oil change.
ABA Community Banking
AUGUST 7, 2015
Much work fighting human trafficking goes on—here’s to continued success, despite odds Compliance Blogs AML & Fraud BSA/AML.
CFPB Monitor
AUGUST 3, 2015
Barbara S. Mishkin. The CFPB has sent a questionnaire which, according to the CFPB’s accompanying cover letter , is intended to help the CFPB “better understand operational costs and other factors associated with debt collection.” The cover letter indicates that the questionnaire was sent to “a variety of debt collection firms, creditors, and service providers” and that responses “will inform the Bureau’s analysis of the costs and benefits of potential
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Banking 2020
AUGUST 6, 2015
Banking professionals are good at crunching numbers. It’s in their DNA—a big part of the entire industry is based on measuring and managing risk. They make macro predictions on the global economy, and decide on the smallest small business loans by running numbers through various algorithms. It’s not a perfect science by any means, but it is science.
ABA Community Banking
AUGUST 6, 2015
You will be attacked—there is no doubt. Too many banks still rely on firewalls and passwords Risk Management Blogs Beyond the Bank Cyberfraud/ID Theft.
Bankelele
AUGUST 3, 2015
Last week, Kenya Airways (KQ), announced a pre-tax loss of Kshs 29.7 billion (about $297 million) for the year 2015. This was a shocker as it was the largest announced loss in corporate Kenya’s history and the airline’s management have given various reasons of the loss. The summarized results released show that the airline had unrealized losses on fuel derivatives of Kshs 5.7 billon ($57 million) for the year and realized losses of Kshs 1.6 billion ($16 million).
CFPB Monitor
AUGUST 6, 2015
Barbara S. Mishkin. The Office of Inspector General for the Fed and CFPB (OIG) has issued a report on the results of its audit of the construction costs for the CFPB’s Washington, D.C. headquarters renovation. The renovation costs have been the subject of criticism by some lawmakers. The OIG found that the costs “appear reasonable based on comparisons to an independent cost estimate and the costs of two comparable building renovations identified by the U.S.
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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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