South State Correspondent
JULY 7, 2015
In case you missed it, BBVA Compass, one of the most impressive banks over the last year, just introduced a concierge banking service ( HERE ). What is fascinating about the strategy is that they are one of the first regional or national banks to introduce this high-touch treatment for – everyone.
Celent Banking
JULY 10, 2015
Dave Birch over at Consult Hyperion wrote a very interesting article today around the need to better name the stream of new non-traditional banking entrants. Have a read here. This is something we’ve talked about with Clients in a similar way, but in the context of traditional banks. When you run a brain storming sessions, particularly for innovation, it’s often useful to “blow up” the problem.
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Accenture
JULY 6, 2015
In the Accenture Technology Vision 2015 for Banking, we explore five digital trends that reinforce our strategy for banks to become Everyday Banks. The first trend we explore is the Internet of Me. We know that personalized experiences are a. Read more.
Abrigo
JULY 10, 2015
Compliance is often a loaded word for bankers. While regulations within the banking industry are, of course, a necessity, the ongoing conversation about striking a balance between mitigating risk and overregulation continues in government, media and financial institutions themselves. By nature, a bank is set up to withstand some risk. Some auto loans will go belly-up when a customer loses his or her job.
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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
JULY 7, 2015
Construction and Land Development loans (C&D loans) drove a substantial portion of the loan growth at community banks between 2000 and 2007, especially for banks under $2B in assets. While C&D loan volumes bolstered total loan growth, these same loans resulted in substantial detraction from risk-adjusted return on equity (ROE). In fact, C&D loans were one of the major causes of bank failures from 2009 to 2011.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Gonzobanker
JULY 7, 2015
It’s been more than 15 years since the Internet shook the business world and predictions abounded that Internet-only banks would eat traditional banks for lunch. Taking stock on these predictions, it’s clear that the impact of Internet-only banks has been less dramatic than anyone would have predicted. In recent years, the trade press and industry conferences have buzzed with admiration for digital darlings such as Simple, Moven, GoBank and BankMobile.
Abrigo
JULY 9, 2015
On June 30th, the OCC released its Semiannual Risk Perspective for Spring 2015. The report, based on data through the end of 2014, discusses risks facing national banks and federal savings associations, and focuses on issues that pose threats to the safety and soundness of those OCC-regulated institutions. According to the report , the financial performance of federally-chartered banks was slightly lower in 2014 compared to 2013 as a result of lower profitability.
South State Correspondent
JULY 9, 2015
When it comes to bank marketing, nothing is more important than directing your message at the right audience. In most cases, it is necessary to know a potential customer on a level deeper than their account number in order to earn their business and trust. Banks today are facing more competition than ever before, so treating someone as an individual rather than a one-dimensional account can be the deciding factor between gaining a life-long brand champion and losing one.
CFPB Monitor
JULY 8, 2015
Marc Patterson. The CFPB has posted a video of its May 26 th webinar that addressed questions about the final TILA-RESPA Integrated Disclosure Rule. The webinar was the fifth in a series to address specific questions related to rule interpretation and implementation challenges that have been raised by creditors, mortgage brokers, settlement agents software developers, and other industry stakeholders.
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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
Jack Henry
JULY 9, 2015
Author: Lauren Gleim, Lgleim@jackhenry.com. None of us want to lose customers or money. It seems obvious doesn’t it? Regardless of the business, we all want to drive traffic and increase our customer base. To successfully execute effective online marketing initiatives, a plan in place will help, and you don’t have to start from scratch. Here are some suggestions from our best practices pocket guide to gain and retain your audience.
Abrigo
JULY 8, 2015
Remember the days of the rolodex on your desk? Well, even if you don’t, you probably realize that with today’s digital technology, the rolodex is pretty much extinct. Today, Outlook or Gmail contacts, your phone’s address book and LinkedIn have replaced the reams of paper we once used. You might be wondering how to use all these systems efficiently.
South State Correspondent
JULY 6, 2015
Cash is going away. It is going away faster than anyone thinks and will stick around just longer than checks (and all other paper items), but that is not too distant in the future. Checks will eventually go away because it is the will of the people. Cash, on the other hand, will be relegated to history because banks will stop being the enablers and hasten its demise quicker by charging for the service of dealing with cash.
CFPB Monitor
JULY 9, 2015
John L. Culhane, Jr. A new CFPB report entitled “Overseas & Underserved: Student Loan Servicing and the Cost to Our Men and Women in Uniform” contains the CFPB’s findings regarding student loan servicing problems faced by servicemembers. According to the CFPB, it has handled more than 1,300 complaints from military borrowers relating to the servicing or collection of student loans since it published its last report on this topic in October 2012.
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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
JULY 9, 2015
In the past month, how many times have you visited an ATM, deposited a check with your mobile phone or made a payment with online banking? For many, it’s at least once, if not more. With all the advanced technology we have at our fingertips it can be hard to imagine (or remember) the days when financial transactions had to be done in brick and mortar locations.
SWBC's LenderHub
JULY 7, 2015
"Subprime" seems to be a dirty word in the lending world—both in the media and in the minds and hearts of many Americans who weathered the storm of the 2007–2008 Great Recession. It's completely understandable when you consider the wreckage that American businesses and consumers were ultimately left with. In a perfect storm scenario of the housing bubble bust, loss of wealth, and cutbacks on consumer spending and business investment, the U.S. lost 8.4 million jobs in 2008 and 2009, according to
South State Correspondent
JULY 10, 2015
This paper looks at the key opportunities in the industry that banks can take advantage of for tech investment and development. While banks may want to develop technology on their own, banks should also consider a model where they partner with development companies to achieve a goal. . .
CFPB Monitor
JULY 9, 2015
Scott M. Pearson and Kevin D. Leitão. The CFPB has released a list of nine “ Consumer Protection Principles ” that are intended to express the CFPB’s “vision of consumer protection in new faster payments systems.” The CFPB has previously shown support for the development of faster payment systems. In his November 2014 remarks to the Clearing House, Director Cordray suggested that sooner, rather than later, the industry should invest the billions of dollars requir
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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
JULY 8, 2015
Maybe it is this generation’s record-breaking student debt, or maybe it’s the trend of getting married much later in life, but millennials are known for putting off adult responsibilities. The generation is pushing back the big financial decisions in life like buying a home and establishing a viable retirement plan. A new survey from the Indexed Annuity Leadership Council (IALC) reveals that 37% of millennials say they have no money for retirement, and 24% say they owe more than they’ve saved.
ABA Community Banking
JULY 7, 2015
Cyborgs by proxy! If tech handles whole relationship, who serves customers when tech fails? Retail Banking Blogs Beyond the Bank Channels.
CFPB Monitor
JULY 8, 2015
Gary W. Becker and John L. Culhane, Jr. In a new report entitled “Debt Collection Communications: Protecting Consumers in the Digital Age,” the National Consumer Law Center “specifies the regulations the [CFPB] should adopt regarding when, where, how, and how often consumers can be contacted by debt collectors and creditors engaged in debt collection.” According to the NCLC, while the report “is framed around the FDCPA’s specific provisions, those provisions detail
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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.
Your Full Potential
JULY 7, 2015
“Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.” –Dale Carnegie. I think Mr. Carnegie was on to something. Indeed, fear is the biggest reason that organizations (and individuals) never reach their full potential. Of course, it’s easy to come up with other reasons and excuses.
ABA Community Banking
JULY 9, 2015
Your future hangs on how well you attract tomorrow’s customers today Retail Banking Blogs UNconventional Wisdom Customers.
The Emmerich Group
JULY 9, 2015
We’ve all been there. The car salesman slides the paperwork across the desk at you, pointing at the signature line. Just this one last step, he says, and there’ll be no way out. At least that’s how it can sound to the customer as she wipes her sweaty palms, wondering if she’s doing the right thing, wondering if she’s considered everything, wondering if she’s taking too big of a… RISK.
CFPB Monitor
JULY 6, 2015
Barbara S. Mishkin. Briefing has now been completed in CFPB v. Great Plains Lending, LLC, et al. , the case before the U.S. Court of Appeals for the Ninth Circuit in which three tribally-affiliated payday lenders are challenging the CFPB’s authority to issue civil investigative demands (CIDs) to entities that are arms of sovereign tribes. Last July , a California federal court rejected the lenders’ arguments that (1) as arms of sovereign tribes, they were “sovereigns” and therefore w
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