South State Correspondent

OCTOBER 21, 2015

Yesterday was the first anniversary of Apple Pay while the past 60 days saw the release of Android Pay and Samsung Pay. The strategic question comes up – which do you do if any? Before you answer that question ask yourself this one – how long do you want to be in business? Wait. Before you fire us off an angry email, we are not being flippant. It is important to understand your investment horizon, as if your bank plans on selling in the next five years, then why go through the cost and hassle of

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Community Bank Community Samsung Apple 255

Abrigo

OCTOBER 22, 2015

Banks and credit unions rely on their borrowers for updated information, which they in turn use to make accurate credit decisions. Financial statements, tax returns, collateral appraisals, rent rolls, loan agreements, economic data, credit reports, images, etc. all factor into credit decisions, making document and data management a big deal for bankers.

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Data Software Security Taxes 195

Celent Banking

OCTOBER 23, 2015

We’re smack in the middle of conference season and the team has been traveling all over the world. We’ve been busy with Sibos and BAI (unfortunately held at exactly the same time), AFP , and next week, Money20/20. In only its fourth year this new conference had to move to a new venue so that it could avoid running afoul of the fire marshal. Given the excitement around the payments ecosystem, we think it will be an exhausting whirlwind of a week.

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Conference blockchain Maine Course 154

Accenture

OCTOBER 19, 2015

At last week’s panel session hosted by Accenture at Sibos 2015, six experts from different perspectives and regions shared their thoughts on real-time payments. Let’s start with the UK which is the gold standard for real-time payments. The emphasis on. Read more.

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Payments Regional 155

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.

South State Correspondent

OCTOBER 20, 2015

Yesterdays’ article on branding loans generated many comments. The most common question we received is to give finite examples of how to create a unique product in the marketplace to garner above average pricing.

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Examples Branding How To 223

Celent Banking

OCTOBER 21, 2015

Our friends at PaymentsUK have released their latest forecasts , the ever excellent UK Payments Market 2015. Whilst we don’t have a copy of the full report (hint, hint…), the press release does give us some interesting insights. For example, payments will hit 44 billion transactions a year by 2024. This is a net growth of 3.4 billion, which hides significant and continued declines in both cash and cheque usage (53% to 33%, and 1.1% to 0.4% respectively).

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Payments Examples Mobile Cards 153

Accenture

OCTOBER 21, 2015

Banks hoping to build a strong, reliable Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) approach should focus on a number of strategies and actions—including developing an efficient operating model. In our view, a good operating model is essential to. Read more.

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Operations Management Strategy 150

South State Correspondent

OCTOBER 19, 2015

You brand your bank; why not brand your loans? The other day we attended a seminar on banking Millennials where a panel of Millennials was discussing how Millennials don’t believe the marketing hype like earlier generations did. We found this ironic as they sat there with Apple Watches, Stance socks (our favorite as well) and various other brands draped on their bodies in addition to the fact that all five were drinking bottled water despite a carafe right in front of each.

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Millennials Branding Apple Marketing 207

Abrigo

OCTOBER 21, 2015

The Federal Reserve announced it will hold a special information session later this month for accountants, consultants, auditors and others to learn more about the FASB’s forthcoming current expected credit loss model , or CECL. Steve Merriett, the Fed’s Chief Accountant, will lead the webinar discussion on Oct. 30 from 1 p.m. to 2:30 p.m. ET, the Fed said in an email notice.

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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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CFPB Monitor

OCTOBER 20, 2015

Richard J. Andreano, Jr. In remarks yesterday at the Mortgage Bankers Association’s annual convention, CFPB Director Richard Cordray stated that the CFPB may need to look more closely at vendors of software and other tools used by lenders to comply with the TILA-RESPA Integrated Disclosure (TRID) rule which became effective on October 3. Director Cordray stated that he was “disturbed” by reports that such vendors were creating obstacles for lenders attempting to comply with the

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Compliance Maine Software Tools 93

Jeff For Banks

OCTOBER 21, 2015

I frequently moderate strategic planning retreats. A recent discussion surrounding bank peer groups was very interesting. I have written and spoken about using peer groups constructively versus striving for "above average". This discussion related to the different paths superior performing banks took to achieve their notable profits. There were many more than three banks in the peers we reviewed.

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Groups Strategy Operations Course 83

South State Correspondent

OCTOBER 22, 2015

For U.S. banks, unlike common equity that derives its returns primarily through appreciation; preferred equity gives an investor a return largely in the form of a fixed dividend. Thus, when it comes to valuing a bank with preferred debt, the question comes up do you treat the capital as common or more like a debt instrument? Because the dividend is largely like a coupon on a holding company loan or other debt instrument, it seems natural to value preferred equity as debt.

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Abrigo

OCTOBER 21, 2015

Every year, accountants brace themselves for the inevitable tax season. For many accountants, unfortunately, tax season means that lucrative consulting work that can diversify revenue and bolster firm growth throughout the year gets put on hold in order to handle the mountains of personal and business tax returns. However, tax season provides the opportunity for accountants to sit down with the majority, if not all, of their clients.

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Taxes Capital Meeting Analysis 150

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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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CFPB Monitor

OCTOBER 22, 2015

Richard J. Andreano, Jr. As we previously reported , the CFPB has issued a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act. The final rule makes many significant changes, including changes to the rule’s coverage and the data that covered institutions must collect and report. For a detailed discussion of the final rule, see our legal alert.

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Regulation Report Data 83

Jack Henry

OCTOBER 21, 2015

Author: Jenny Roland-Vlach, JRoland-Vlach@jackhenry.com. The FFIEC’s Cybersecurity Assessment Tool has been available for a few months now and your financial institution (FI) has undoubtedly realized the critical role it will play in your strategic plans. The tool touches on a wide array of factors for FIs and will require the attention and involvement of all your stakeholders to properly complete it.

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Compliance social media Tools Online 81

South State Correspondent

OCTOBER 22, 2015

For U.S. banks, unlike common equity that derives its returns primarily through appreciation; preferred equity gives an investor a return largely in the form of a fixed dividend. Thus, when it comes to valuing a bank with preferred debt, the question comes up do you treat the capital as common or more like a debt instrument? Because the dividend is largely like a coupon on a holding company loan or other debt instrument, it seems natural to value preferred equity as debt.

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Capital Company 163

SWBC's LenderHub

OCTOBER 22, 2015

Many people despise the typical salesperson. If I were to ask the average person walking down the street if they were in sales, I'd probably hear a resounding and collective, "NO!" And guess what my response would be: "Oh, you're not? Well, I hate to break it to you, but we are all in sales. Nothing happens until something is sold.". That's important so I'll say it again: nothing happens until something is sold!

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Management 78

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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

CFPB Monitor

OCTOBER 19, 2015

Barbara S. Mishkin. The FTC has released the agenda and panelists for the workshop it will be holding on October 30, 2015 in Washington, D.C. on lead generation. According to the agenda , the workshop will include case studies on how lead generation is used in the lending industry and education marketplace and a discussion of consumer protection issues raised by lead generation.

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Case Study Washington Study Lending 79

Banking 2020

OCTOBER 19, 2015

Disclosure: Banking.com is powered by Digital Insight. Time and time again we hear from financial institutions who say they struggle to win over business customers. Whether they’re competing with known or unknown competitors, the competition is fierce and often times they feel they’re missing out. As part of their 2015 Momentum Webinar Series, Digital Insight will host a free webinar, “ Business Customers: How to Compete and Win ,” addressing this issue.

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How To Strategy 70

ABA Community Banking

OCTOBER 23, 2015

Nontraditional thinking can lead to opportunity for the small-business community—and their bankers Management Lines of Business Blogs UNconventional Wisdom.

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Community Management 61

SWBC's LenderHub

OCTOBER 19, 2015

The title of this post is a quote from Federal Reserve Governor William Dudley from Thursday, October 15. Besides sounding like a line from an Abbott and Costello bit, I believe with those words The Fed has raised the white flag with regard to “Liftoff 2015.” The Fed and the market are coming to an understanding and that understanding is that Zero Interest Rate Policy (ZIRP), and the risk-taking mindset it creates, is back for the foreseeable future.

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Strategy Policies Marketing 65

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.

Marketing

CFPB Monitor

OCTOBER 22, 2015

Alan S. Kaplinsky. In a blog post earlier this week, Professor Jeff Sovern took issue with statements made by a legal expert that suggest an amendment to the Federal Arbitration Act would be necessary for the CFPB to ban class action waivers in arbitration agreements. Regardless of whether Professor Sovern is correct, proponents of a class action waiver ban should keep in mind that the CFPB’s authority under Section 1028 to issue an arbitration rule is also subject to several important li

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Regulation Study Report 73

Banking 2020

OCTOBER 18, 2015

Financial inclusion efforts are building globally as new technology and a swathe of regulatory reforms are helping some of the world’s poorest people to make use of banking and payment services. Figures from the World Bank show that from 2011 and 2014, the number of “unbanked” individuals dropped 20 per cent as 700 million people became bank account holders or joined mobile money services.

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ATM Payments Industry National 52

ABA Community Banking

OCTOBER 21, 2015

Using voice-based ID out-shouts PINs and passwords Technology Risk Management Cyberfraud/ID Theft.

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Risk Management Management Technology 70

Cisco

OCTOBER 22, 2015

Becoming a digital business requires transforming literally every aspect of your company, including the way you innovate. Because digital business breaks down boundaries between industries and markets—think Uber—innovating within the walls of your organization doesn’t work any longer. The challenge is that for many years, companies have invested in creating first-class innovation organizations and capabilities.

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Innovation Industry Marketing Company 51

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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.

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