South State Correspondent

FEBRUARY 10, 2016

A bank produces a steady stream of marketing content – events, press releases, letters from the CEO, white papers, news stories and the alike. As content becomes increasingly important, banks can better leverage their marketing dollars and branding efforts by making sure content hits its market. Data from AOL Insights of over 7,300 content engagements clearly show when a customer interact with specific content.

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Branding Data Marketing 190

Accenture

FEBRUARY 11, 2016

A shared services model can bring a variety of gains to banks and financial services firms. My previous post on this topic outlined some of the positive benefits to be derived from shared services. But shared services models are not. Read more.

Management 161

Management 161

Abrigo

FEBRUARY 10, 2016

Given their roles, accountants have unique insight into trends among their own small business clients, and they can probably provide an idea of how firms generally fared in 2015 based on conversations and recent engagements. But a recent financial statement analysis by Sageworks, a financial information company, provides a look at a larger universe of small companies, finding that this backbone of the U.S. economy entered 2016 with stronger sales growth and improved profitability.

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Data Trends Industry Taxes 150

Celent Banking

FEBRUARY 10, 2016

This week the Open Banking Working Group (OBWG) published its framework for the UK Open Banking Standard. The framework seeks to create: • An open API for data that is shared, including, but not limited to, customer data, and. • An open data API for market information and relevant open data. Secure, publicly accessible Web APIs have been around for more than ten years in the financial services sector.

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Data Groups Fintech Report 130

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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

Lending

South State Correspondent

FEBRUARY 9, 2016

The average bank approves approximately 85% of their loans that are submitted and turns down about 15%. Separately, this blog has highlighted the fact that an experienced community bank loan officer can predict bank approval about 80% of the time. This came up the other day, when a loan officer that sits on loan committee said that a specific loan is not likely to get approved in his opinion.

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Community Bank Community 183

Abrigo

FEBRUARY 9, 2016

The following is an excerpt from the Sageworks whitepaper "Optimizing Capital: Challenges and Opportunities for Financial Institutions". Given the many differences between a community institution and a bank with $100 billion in assets, the challenges facing back executives and their financial institutions may differ dramatically at various times. Yet all financial institutions face internal and external challenges that place demands on personnel, time and – perhaps most importantly – on capital.

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Compliance Lending System Data 150

Celent Banking

FEBRUARY 12, 2016

Biometrics are hot, and Touch ID is one of the most mainstream forms of biometric authentication. So, quick – how many American banks let customers log on to their accounts using iPhone’s Touch ID feature? Based on the press, you might think hundreds, right? And, in fact, ApplePay just activated its 1000 th bank (adoption is another story, and the subject of another post).

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User Experience Maine America Data 100

South State Correspondent

FEBRUARY 8, 2016

As your chicken wing hangover subsides from the Super Bowl we roll right into Mardi Gras. To celebrate, we provide you the most current perspective on our banking industry. We have compiled the latest data and have attached a complete presentation at the bottom of this blog post. The summation of the quarter is this – While return on investment dropped for the industry, community banks did just a touch better and increased return performance.

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Community Bank Community Industry Data 183

Accenture

FEBRUARY 12, 2016

Every so often, a research report is published that breaks new ground by providing truly fresh and disruptive insights into an area of vital interest to financial services companies. One such piece of research was published recently by Accenture in. Read more.

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Report Company 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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Abrigo

FEBRUARY 6, 2016

It takes a special kind of person to start and run a business. As valuation professionals know, however, some of the same traits that make a business owner a successful entrepreneur are qualities that can make it tough to land a business valuation engagement with them. “It’s hard to sell to entrepreneurs,” notes Rick Spence , a business speaker and consultant specializing in entrepreneurship and business growth.

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Resources Course How To Strategy 150

CFPB Monitor

FEBRUARY 10, 2016

Richard J. Andreano, Jr. In today’s Federal Register the CFPB published a correction to the TILA/RESPA Integrated Disclosure (TRID) rule supplementary information as published on December 31, 2013 with regard to property taxes and certain similar charges. The move apparently is intended to address an apparent oversight in the TRID rule regarding the treatment for tolerance purposes of property taxes and similar charges paid in advance, but not into an escrow or impound account.

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Taxes Regulation Industry 78

South State Correspondent

FEBRUARY 11, 2016

An old strategy in commercial banking when faced with a borrower that wants a 10-year fixed rate loan is to offer a 10-year loan that adjusted in five years. This has historically worked with some customers and has paid off well for banks over the last 35 years as 5-year rates have fallen. The graph below shows 5-year Treasury rates for the last 35 years.

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Lending Strategy 174

ZootBlog

FEBRUARY 12, 2016

How long should it take to add your spouse to your bank account? A few minutes seems reasonable to me. However, it took one full hour to accomplish this simple task at my local community bank where I have been a customer for more than a decade. The experience left me wondering, with today’s technology how could this be possible. There seemed to be several pain points in this lengthy process—from a lack of updated technology to systems that don’t talk to each other.

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Community Bank Community Technology ATM 63

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Cisco

FEBRUARY 11, 2016

There is $1.3 trillion value at stake in the financial services industry projected by 2022. Capturing this value requires embracing today’s digital disruption and the major technology transitions of mobility, collaboration, cloud, big data analytics, and security. Join us at Cisco Live Berlin 2016 from February 15th -19th to learn how Cisco can help you on your digital business transformation journey.

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Digital Banking US Big Data Analytics 68

CFPB Monitor

FEBRUARY 8, 2016

Peter N. Cubita. The CFPB and Department of Justice (the “Agencies”) announced recently that they have entered into a settlement with Toyota Motor Credit Corporation (TMCC) to resolve charges that TMCC engaged in unlawful discrimination in violation of the Equal Credit Opportunity Act (ECOA). The settlement includes TMCC’s agreement to change its so-called “dealer compensation policy” and pay up to $21.9 million in remediation to affected consumers.

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Policies Company Compliance United States 78

SWBC's LenderHub

FEBRUARY 11, 2016

Although it feels like the housing crisis is in our rear view mirror, lender foreclosure exposure remains high. Based on market data from leading property information and analytics providers, foreclosure rates are down from peak levels in January 2011; however, are still high when compared to historical trends. The primary reason for the higher than expected levels is the duration, especially in judicial states, to complete the foreclosure process.

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How To Management Analytics Trends 60

Jeff For Banks

FEBRUARY 6, 2016

My colleagues and I are frequent speakers at industry events. At one such event, a financial institution investment banker approached my colleague and handed him a list of questions he would like answered during his speech. My colleague gave it to me the next day, and I provided my answers thinking he wanted them. Not really. Just thought I would be interested in the questions.

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NJ Capital Community Bank US 60

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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

Banking 2020

FEBRUARY 9, 2016

The below post was written by Andrew Levy, CSO at Crittercism. Mobile is no longer for a small slice of society; it’s redefining the way people live on a global scale. Today, 2.6 billion people walk the earth with a smartphone in their hands. By 2020, this number will likely hit 6.1 billion, or 70 percent of the world’s population. In addition to the growing proliferation of mobile phones in society, the way we use them is evolving, too.

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Mobile Industry Millennials Survey 57

CFPB Monitor

FEBRUARY 11, 2016

Barbara S. Mishkin. The CFPB will hold a meeting of its Consumer Advisory Board in Washington, D.C. on February 25, 2016. According to the meeting agenda , there will be morning session on the CFPB’s strategic outlook, with the speaker to be Chris D’Angelo, Chief of Staff, Office of the Director. The topic for the afternoon session is measuring financial well-being, with the speakers to be Janneke Ratcliffe, Assistant Director, Financial Education, and Genevieve Melford, Senior Financial

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Meeting Washington 60

SWBC's LenderHub

FEBRUARY 8, 2016

I am not getting too excited about this morning’s employment numbers, most notably the Year-over-Year (YoY) Average Hourly Earnings increase of 2.5% (2.2% was expected). We need a few consecutive months of this kind of growth to get to the point where we can say there’s real wage inflation. The U.S. Dollar (USD) is rallying and bonds are selling off of this morning’s data.

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Data Marketing 60

NCR

FEBRUARY 11, 2016

A defining characteristic of the banking industry over the past several years has been change, and one of the biggest changes is the way customers interact with their bank. The advent and advancement of online and mobile banking have decreased the number of trips customers make to the branch, as well as the number of transactions they perform while in the branch.

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Data Branch Strategies ATM Meeting 53

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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.

Lending

ABA Community Banking

FEBRUARY 7, 2016

Yes, there are too many. No, the branch isn’t dead—and won’t be Retail Banking Blogs UNconventional Wisdom Channels.

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Retail 54

CFPB Monitor

FEBRUARY 11, 2016

Barbara S. Mishkin. The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. The FTC has authority to enforce the ECOA and Reg B as to nonbank providers within its jurisdiction. However, like last year’s letter on the FTC’s 2014 ECOA activities, the letter on 2015 activities does not include any specific 2015 FTC ECOA enforcement activity and only contains information about so

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Report Policies Lending Compliance 60

SWBC's LenderHub

FEBRUARY 12, 2016

When I begin naming pieces by quoting Tacitus , you know it’s getting bad. The level of panic in the markets this week felt eerily like 2008. How did we get here so fast?

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Marketing 60

NCR

FEBRUARY 12, 2016

Articles via Bank News, 24/7 Wall Street, The Financial Brand. Cards Linked to Mobile Apps Experience Rise in Activity Rates: A new study shows that by the year 2020, more than 3 billion loyalty cards will be integrated into mobile apps. Global Mobile Payments to Reach $620 Billion: As smartphone brands make their way into the mobile payment business, new research shows that by the end of 2016, the total revenue of the worldwide mobile payment market will reach $620 billion.

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Mobile Digital Banking Payments Study 48

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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