South State Correspondent
APRIL 30, 2015
In game theory, there is what is called the “dominant strategy.” A dominant strategy for a bank is a position that no matter what other competitors do, that bank will earn a larger return. Now, few strategic decisions facing a bank have a dominant position, so when a bank finds a choice that results in a dominant decision it is imperative that they take it.
Abrigo
APRIL 29, 2015
Home sellers know that the first step to selling a home is getting it ready to be shown to potential buyers. And home buyers know that a fresh coat of paint, a clean yard and functional doorknobs can make a home more appealing. Even if you’re not selling your home, a thorough cleaning is much more valuable than just the lemon scent. Organizing your possessions can optimize the use of your spaces and can save time in daily tasks.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Celent Banking
APRIL 30, 2015
It struck me while I was driving this morning: First-gen mobile apps are fine, but virtually everyone is missing high-volume opportunities to engage with their customers. Allow me to back up a step. I was stuck in traffic. Not surprisingly, that gave me some time to ponder my driving experience. I found myself thinking: Why can’t I give my car’s navigation system deep personalizations to help it think the way I do?
CFPB Monitor
APRIL 29, 2015
Barbara S. Mishkin. The CFPB has issued a fair lending report covering its fair lending activities during 2014. The report states that in 2014, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $224 million in remediation. The report begins with a discussion of factors the CFPB considers in its risk-based prioritization approach for determining “what, where, and how fair lending risks to consumers should be addressed.” The
Advertisement
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
APRIL 28, 2015
It is understandable that banks are confused on how to use the new Apple iOS 8.3 emojis that just came out on the iPhone. We see all sorts of improper use. Like the one to the left. Some banks use this as if to say everything is Ok. The reality is that this emoji has the complete opposite meaning. Notice the gap between the fingers? What this really says is “I am this close to slapping someone in management for screwing up the account.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Celent Banking
APRIL 27, 2015
Celent recently released the report On the Margins: A Comparison of Banks and Credit Unions by Asset Tier , where community institutions of the same size are compared across a number of performance metrics, mainly efficiency ratio. One of the most interesting findings is that credit unions are becoming less efficient at a faster rate than banks of the same size.
Banking 2020
APRIL 28, 2015
Digital banks are no longer in the ‘money’ business but rather, in the ‘value’ business. This value is not just providing a functional benefit but also a holistic experience, (i.e. ‘what, when and how’ of the benefit), that customer values in the experience-based economy. Unlike in the past, when more than two products from one bank made a customer loyal, customer behavior is fleeting and their expectations for digital banking is increasing every day, because technology is giving them numerous c
South State Correspondent
APRIL 27, 2015
Dad used to always ask us – “What is more important – your mind or your body?” It was a trick question and the lesson he was trying to impart was that both are equally important. One is no good without the other and both need to be developed to be equally strong and in concert. The philosophy can be applied to banking as the discipline of pricing is equally important to credit, asset-liability management, risk and strategy.
Jeff For Banks
APRIL 25, 2015
ABA President Frank Keating wrote an Op-Ed piece recently in The Hill entitled New jobs and new growth call for new banks. I don't believe it. A more accurate title should have been New jobs and new growth call for new businesses. His leap-of-faith assumption was that new banks are critical to new business formation. I'm skeptical. Why? I don't think de novo banks are key players to business startup capital formation.
Advertisement
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
CFPB Monitor
APRIL 29, 2015
John L. Culhane, Jr. The CFPB has announced that on May 14, 2015, it will hold a field hearing in Milwaukee on student debt. Similar to other field hearings, Director Cordray will give remarks and witnesses will include members of consumer groups, industry representatives, and members of the public. Since field hearings typically coincide with a related development, such as the issuance of a report, we expect this field hearing to be accompanied by a new development related to student loans.
Matt Wilcox Pro
APRIL 29, 2015
Not quite interchangeable terms ONE FINE DAY in 1981, someone at American Airlines eyed the empty seats on many a flight and mused, “If we gave those seats to our most-frequent fliers, they’d be tickled and we’d be none the poorer.” Thus began what today are commonly called rewards programs. They range from American Express’s [.
South State Correspondent
APRIL 29, 2015
As we all know, things aren’t always as they appear. In the classic image below on the left, the two horizontal lines are of equal length. In the below image on the right, you can see both a young fashionable woman looking away and an old woman’s left profile (which one do you see?). We won’t even get into the blue/black/gold/white dress debate. Similar illusions can be found in commercial lending.
SWBC's LenderHub
APRIL 27, 2015
Most businesses, financial institutions included, are always looking for ways to save money on basic operational costs. The goal is to run a lean and mean operation, right? Efficiency is the name of the game when you want to keep your shareholders—your members, in some cases—happy and, ultimately, pass on those cost savings to them in the form of lower loan interest rates and higher deposit account interest rates.
Advertisement
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.
CFPB Monitor
APRIL 28, 2015
Barbara S. Mishkin. The U.S. Supreme Court agreed yesterday to hear an important case that will decide whether a plaintiff who cannot show any actual harm from a violation of the Fair Credit Reporting Act nevertheless has standing under Article III of the U.S. Constitution to sue for statutory damages in federal court. The consequences of the Supreme Court’s eventual decision will likely extend significantly beyond FCRA litigation, and affect numerous other statutes and the viability of c
ABA Community Banking
APRIL 28, 2015
Will the future be all about your things’ connections? Technology Blogs Making Sense of it All.
Bankelele
APRIL 27, 2015
Earlier this month, I took a trip to the Lamu county at an invitation from the Gulf Energy side of Amu Power, and Gulf are the leading a project that will see the construction of a coal power plant that will generate 980 MW for Kenya. This is part of an ambitious project by the government to invest in and diversify its future energy generation capacity, from one that’s relied for years on hydropower dams and more recently to diesel, geothermal and wind power sources.
Jack Henry
APRIL 29, 2015
Author: Barbara Kempf, BKempf@jackhenry.com.
Advertisement
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.
CFPB Monitor
MAY 1, 2015
Joseph J. Schuster. Yesterday, the House Armed Services Committee removed language from the draft Fiscal Year 2016 National Defense Authorization Act that would have delayed the finalization of rules proposed by the Department of Defense that would expand the types of credit subject to the Military Lending Act. As we have previously discussed , the proposal faces strong criticism from the financial services industry.
ABA Community Banking
APRIL 29, 2015
Those who do use mobile, love it. But others don’t go for it Retail Banking Payments Channels Mobile.
Bankelele
APRIL 29, 2015
See Part I of the visit to Lamu with Amu Power. After the morning session with the county officials, we had a chance to visit the planned site of the Amu Power coal plant at Kwasasi, on the mainland. This was my third visit to Lamu in four years, but my first chance to visit the mainland of Lamu County. The Lamu islands are incredibly beautiful, and once you experience Lamu, you are unlikely to look at Mombasa the same way again.
Tomorrow's Transactions
APRIL 27, 2015
As my good friend Andrew Curry (@nextwavefutures) says, Apple Pay is a sheepdog, not a wolf. It’s not disrupting or displacing anyone in the payments value chain. But that doesn’t mean that it couldn’t. I saw a lot of comment on an article in Harvard Business Review that discussed Apple Pay and concluded that it is not a disruptive play. By launching Apple Pay as a reseller instead of as a disruptor, Apple is helping to perpetuate a credit card payment system that is obsolete, overly expensive,
Advertisement
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.
CFPB Monitor
APRIL 29, 2015
Barbara S. Mishkin. The CFPB announced yesterday that it had reached a settlement with Regions Bank regarding claims that the bank unlawfully charged overdraft fees to customers who had not opted-in for overdraft coverage. The matter is the CFPB’s first enforcement action under the Regulation E rule that prohibits depository institutions from charging overdraft fees on ATM and one-time debit card transactions unless a consumer has affirmatively opted in.
ABA Community Banking
MAY 1, 2015
Book Review: A short, timely guide to regaining your life Human Resources Management Duties Blogs Books for Bankers.
The Emmerich Group
APRIL 30, 2015
Why would you buy a Volvo? Safety. Why would you drive a Mercedes? The prestige. Why would you buy a BMW? The driving experience. Last question. Why would you drive a Pinto? Price. Now for the reality. Volvo is not the safest car. For many years, Saab actually had a better safety record. Mercedes is only considered a prestige car in the United States.
Tomorrow's Transactions
APRIL 30, 2015
We’ve reintegrated Tomorrow’s Transactions into our main web site so please redirect your RSS feed to here. This archive is going to be here for a long time, so none of the posts are going away if you’ve linked to them. But there won’t be any updates. These are the personal opinions of Consult Hyperion and its guests and should not be misunderstood as representing the opinion of its clients or suppliers.
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.
Expert insights. Personalized for you.
199 
Let's personalize your content