Sat.Oct 10, 2015 - Fri.Oct 16, 2015

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The Second Best Annual Report In Banking

South State Correspondent

The old adage that you can’t judge a book by its cover is overrated when it comes to bank annual reports. You can tell a lot about a bank by its publication. Bank annual reports range from a 10-k wrapped in a simple cover sheet and a one paragraph letter on “it was a good year, look at our numbers if you care” to an expensive 170 page production with enough high-quality photographs to explain why the bank produced a 1.2% return on equity.

Report 207
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Increasing Headwinds in Corporate Banking?

Celent Banking

This week I’m in Singapore, which provides a beautiful backdrop for Sibos 2015, the annual conference that brings together thousands of business leaders, decision makers and topic experts from a range of financial institutions, market infrastructures, multinational corporations and technology partners. This year’s conference theme is connect, debate and collaborate and takes place at a time of increasing headwinds from a slowing global economy, higher compliance costs, increasingly global corpor

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Commercial risk rating: Case study

Abrigo

Banks and credit unions are in the business of measuring and managing credit risk. At a recent Sageworks event, we discussed a specific case study regarding components of risk rating for a particular business loan to see how the institutions in the audience would have handled a particular scenario. Situation : Steve’s Soups, a local catering company, has a 7-year loan with the institution, now in its 4th year.

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Placing real-time payments at the heart of the digital economy

Accenture

The world of payments continues to face tremendous challenges and transformation primarily driven by technology and regulation. Think digital wallet versus paying cash, and what’s more how the digital wallet has evolved. But that’s just one part of a picture. Read more.

Payments 150
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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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BankUnited’s New Checking Account Is Sending A Message

South State Correspondent

BankUnited recently released their Vertical Rewards Checking Account and in doing so has sent a message to other bankers that the war for deposits will be fought not with certificates of deposit (CDs) or money market accounts, but with checking. Bankers should take notice because while you may not compete with BankUnited like we do, this product may be coming to your market.

Strategy 203

More Trending

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Transitional period and initial supervisory practice over TRID

CFPB Monitor

Wendy Tran and Richard J. Andreano, Jr. The CFPB sent industry trade groups a letter on October 1, 2015 to address the approach of the FFIEC member agencies during the initial months following the implementation of the TILA-RESPA Integrated Disclosure (TRID) rule on October 3, 2015. In the letter, the CFPB noted that it and the other FFIEC member agencies recognized the implementation challenges presented by the TRID rule and the significant efforts made by the industry to implement the rule.

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The Time is Now for Redesigning a User Interface

Jack Henry

Author: Tammy Wilson, TaWilson@jackhenry.com. Redesigning a user interface (UI) is a most uncertain thing for all involved, particularly when the product has looked and felt essentially the same--comfortable, familiar--for a very long time. When is the right time to enhance it? What is the right approach? Will users embrace the updates? Regardless of the risk and additional work involved, there comes a time when a facelift is the right path forward.

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3 Blind Spots Your Bank Board Can Protect Management From

South State Correspondent

For years, regulators have talked about enterprise risk management (“ERM”). One component of every bank’s ERM is the concept of a clear credible challenge by the board of directors to the senior management of the bank. While there has not been clear guidance in this area, one area where boards can exercise credible challenge is on the subject of strategic direction and assessing management bias.

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Musings from the Airplane

Celent Banking

I am not writing this literally on the plane, but I might well be – this is a conference season, so many of us are on the road. My colleagues have already been blogging from SIBOS, Finovate, Finnosummit and other events. I wanted to share my own observations from the events I attended. EMV, tokenisation, mobile, Blockchain – these were just a few major themes discussed in depth in Las Vegas at PayThink.

Las Vegas 150
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The State of Automation in Financial Services 2024 Report

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 Student Loan Ombudsman highlights FFELP loans in fourth annual report

CFPB Monitor

John L. Culhane, Jr. The CFPB released its fourth Annual Report of the Student Loan Ombudsman discussing complaints received by the CFPB about private and federal student loans and the lessons drawn by the Ombudsman from those complaints. (The report was issued by Seth Frotman, who is currently serving as Acting Student Loan Ombudsman after the departure of Rohit Chopra this past June.

Report 81
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Elevate Your Sales By Identifying the Unknown Need

SWBC's LenderHub

In sales and marketing, have you ever wondered how to get customers to want something they don't feel they need? As a consultant years ago, I often crossed paths with smart clients who had developed innovative products and services. They hired me because they had one major problem: they couldn't get anyone to buy their products. When the consumer didn't buy, they naturally concluded there was a problem with the product.

How To 69
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October: A month to measure cyber defenses

ABA Community Banking

Nothing to celebrate during National Cyber Security Awareness Month—news isn’t good Risk Management Blogs Making Sense of it All Cyberfraud/ID Theft.

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Social network analysis for fraud detection in payments

Banking 2020

Social network analysis for fraud detection is becoming an increasingly important and useful tool. As payment fraud continues to rise, particularly in the card-not-present (CNP) space, this approach is proving an effective fraud detection technique. Despite its name, social network analysis has nothing to do with Facebook or Twitter. But what is social network analysis and what are its benefits for dealing with fraud?

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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CFPB urged to consider “unintended consequences” of debt collection regulations

CFPB Monitor

Gary W. Becker. A new article by Todd Zywicki for the Mercatus Center at George Mason University urges the CFPB to consider the “unintended consequences” of new debt collection regulations and conduct a careful cost-benefit analysis before imposing such regulations. Mr. Zywicki is a law professor at George Mason and Senior Scholar with the Mercatus Center.

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The Fed Can't Save You.But Maybe King Salman and President Xi Can

SWBC's LenderHub

A weaker U.S. Dollar (USD) gave a spark to commodities (from last Thursday, the CRB rose 4.4% briefly breaching 200 for the first time since late August), which in turn gave global equities, emerging markets currencies, and corporate debt a big boost. As I mentioned in one of my earlier posts , one of our key tenants on stability for risk assets has been that we need to see a solid rise in commodities, most notably crude oil.

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7 lessons from “Shark Tank”

ABA Community Banking

BAI Retail Delivery coverage: "Sharks" Corcoran and Herjavec share business smarts with bankers Management Community Banking.

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Netflix CEO Reed Hastings Blames EMV for Poor Company Performance – Smells Like VW Again

Javelin Strategy & Research

Earlier this week, Netflix released its third quarter financial results. In his letter to the shareholders and the rest of the world, CEO Reed Hastings, states “Our over-forecast in the US for Q3 was due to slightly higher-than-expected involuntary churn (inability to collect), which we believe was driven in part by the ongoing transition to chip-based credit and debit cards.” .

Company 55
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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CFPB Consumer Advisory Board to discuss arbitration at October 22 meeting

CFPB Monitor

Barbara S. Mishkin. The CFPB has announced that its Consumer Advisory Board will meet on October 22, 2015 in Washington, D.C. The meeting, at which Director Cordray is scheduled to give opening remarks, will include a discussion of arbitration, trends and themes in the marketplace, and reaching limited English speaking consumers. According to the meeting agenda , the arbitration discussion will be led by Will Wade-Gery, CFPB Assistant Director, Card & Payments Markets, and Eric Goldberg, CF

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Next in Mobile Payments: The Android Alternative

Banking 2020

There was a time when the launch of a new mobile payment system from one of the world’s largest and most dynamic technology companies would have been a massive event. Yet when Google rolled out Android Pay in September, there really wasn’t too much buzz. And that lack of excitement says more about the state of mobile payments than a hot new product might.

Mobile 49
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Will online lenders disrupt small business banking?

ABA Community Banking

Part 4: Digitalization of commercial side a when, not an if Management Lines of Business Viewpoints.

Online 69
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The Branch: A Retail Bank’s Secret Sauce to Success

Cisco

So This Guy Walks into a Branch… I like to think of myself as a tech-savvy consumer, and that includes my banking habits. That means that I rarely step across the threshold of my bank’s branch, since most of what I need can be accessed online, or via my bank’s mobile app. However, when it comes to complex interactions and larger spending decisions, I still prefer my local branch.

Retail 49
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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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Arbitration SBREFA panel to convene next week

CFPB Monitor

Alan S. Kaplinsky. Last week, the CFPB released an outline of the proposals it is considering for regulating the use of arbitration agreements in anticipation of convening a Small Business Regulatory Enforcement Fairness Act (SBREFA) panel. As described in more detail in our legal alert , the proposals would ban companies from including arbitration clauses that block class action lawsuits in their consumer contracts.

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Bloggers Wanted

Bankelele

Seeking people who can write on topics of interest in banking, business, finance, economics, investments, agri-business - and anything that revolves around money in this part of Africa. Contact bankelele_at_hotmail_dot_com to discuss sending in original pieces of your own work. Regular contributors may be invited to attend and write on other corporate events of interest with the possibility of compensation.

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“Click, click”: Millennials prefer mobile capture

ABA Community Banking

… of everything, that is. Call ‘em smart cameras, not smart phones Retail Banking Channels Checks/Remote Deposit Capture.

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Please Hold: Your Wait Time is 4 Days

Cisco

As somebody who avoids going into shops at every opportunity it was only natural that I reached for the laptop when we decided it was time to move to a new home. A mere 48 hours later an agent had visited our property, produced an advert which made us wonder why we were moving, leaving me to click a button (which I did on my phone whilst holidaying in the south of England) which put our house up for sale. [.].

US 48
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Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.