2014

Top mistakes accountants are making with existing clients

Abrigo

Singer-songwriter Joni Mitchell was referring to environmental impacts when she sang, “Don’t it always seem to go/That you don’t know what you’ve got/Till it’s gone” in "Big Yellow Taxi." But chances are, many accountants have the same thought after a client leaves the practice – especially someone who was with the firm for several years. After all, numerous studies show that attracting new clients costs a lot more than retaining existing ones.

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How Citizens Bank of Edmond Amplifies Their Brand And Creates A Strong Culture

Banker to Banker

If you ever doubted the power of a CEO, consider Jill Castilla, CEO of Citizens Bank of Edmond. Taking over at the start oft his year, she has been quick to change the culture. While the Bank is well regarded for its use in social media, the bigger story here is how a CEO can create an environment of innovation, risk taking and fun. More importantly, Jill has given the Bank a personality which has worked to strengthen its brand.

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ICBA “Going Postal”

Finer Points

I’m all for outside-the-box thinking. Fresh ideas and brainstorming are as important in community banking as they are in any other business. But sometimes an idea comes along that is so bad—so half-baked and ill-considered—that it should be politely heard…and then squashed outright before it has a chance to gain any traction. In case you […]. Advocacy Community Banks Washington

The Challenges of the New Neo Bank

Celent Banking

Since the launch of neo-banks like Moven , Simple , and GoBank , financial institutions in the US have been avidly monitoring their popularity. Some have written them off as non-starters; others have praised them as disruptors. In recent months, however, the neo-bank model has hit a few stumbling blocks that call into question the promise of the digital-only model, and gives credence to the sceptics.

Intelligent Process Automation: Boosting Bots with AI and Machine Learning

Across all sectors, companies are learning that they can transform their businesses by embracing Intelligent Process Automation, or IPA. With the pairing of AI and RPA, IPA adds a new layer of intelligent decision-making processes to automated RPA tasks. By automating repetitive work, and adding the ability to automate intelligent decision making, intelligent automation frees up your most valuable resources – your employees – to spend more time on higher value and more strategic work. But in order to reap the rewards of Intelligent Process Automation, organizations must first educate themselves and prepare for the adoption of IPA. In our ebook, Intelligent Process Automation: Boosting Bots with AI and Machine Learning.

Bank Innovation Watch List

Bank Innovation

Welcome to the Bank Innovation Watch List! The Watch List monitors the fintech startups from around the world that could change financial services. Here you’ll find some of the freshest, most innovative fintech startups in the world today. Our global team of industry experts constantly hunts down the newest and most-disruptive technologies. See a sample […

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Tim’s Online Banking/Mobile Banking Franken-Banking Product

Gonzobanker

Gonzo bankers, I get asked who has the best online banking/mobile banking offering a lot. I mean, a lot. Banks and credit unions, struggling with numerous challenges around remote delivery (banking online, mobile banking, mobile remote deposit capture (mRDC), bill pay, etc.), want to know which vendor has the best offering. The trouble is, there is no easy answer to that question when so much of the answer is dependent on the institution’s strategy. . It is like asking which is the best car.

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Millennials see banks as irrelevant | Scratch

The Bankwatch

I think its time to revisit the relevance of demographic shift in terms of technology adoption. What got me thinking about this was this report from Scratch/ Viacom on the Millennial generation, and their thoughts on banks. The report is not talking about the usual shift to electronic channels. The report indicates millennials see banks as irrelevant. The Millennial Disruption index.

Your Auto Loan Product Experts are Just a Click Away

SWBC's LenderHub

Have you ever had a moment like this? Customer Service Lending

Five Bank Marketing Leadership Takeaways from the ABA School of Bank Marketing Management

Jeff For Banks

Lance Kessler introduced a new subject to the ABA School of Bank Marketing Management (SBMM) this week. Marketing Leadership. A few months ago, he asked me and two other marketing experts to be on a panel for the class. I rejected the moniker "marketing expert". I may be an expert on a couple of topics, but marketing is not one of them.

The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

6 Steps for Loan Officer Success in 2015

Strategically Speaking

Author: Pat True, RTrue@profitstars.com. lending opportunities loan growth

Thought starter: Top challenges accountants face and actionable ideas to solve them

Abrigo

Comedian and television writer/producer Larry David has said, “I''m not a person who embraces challenges. I run from challenges. I break world records running from challenges.” ” Humor aside, accountants don’t have the luxury of thinking that way. While accounting was identified as the most profitable industry of the last 12 months , it is not without its challenges.

This Credit Union and Banker Amazed Us

Banker to Banker

If you are looking for examples of how banks have to change, stop by Grow Financial Federal Credit Union the next time you are in Tampa and see Natalia Spratlen. Grow Financial FCU presents a nice, open small footprint branch space and creates an environment of high productivity. That is not unusual these days as lots of banks are now redesigning their branches. However, what is unusual is our interaction with Natalia.

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Millennials Are the Future for Community Banks

Finer Points

Forget what you think you know about Generation Y. The nation’s millennials—the biggest and most diverse generation of customers in our nation’s history—account for more than $1 trillion in annual purchasing power. And according to ICBA’s recently released 2014 American Millennials and Banking Study, this generation represents a major opportunity for community banks. This is […]. Community Banks

How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Wearable devices and the future of authentication

Celent Banking

There is a lot of hype around wearables (smartwatches, fitness bands, etc.) and they may have all kinds of interesting potential. This potential, particularly for banking is still to be determined. However, I believe that there is a great opportunity for certain wearable devices to provide strong authentication and enhance the user experience ( see this blog entry ). Examples are starting to trickle out: RBC recently announced that it has partnered up with a firm called Bionym.

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Bank Innovation

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ICBA Community Bankers of the Year

Independent Banker

ICBA inaugurated its Community Banker of the Year award program this year to recognize the exceptional work of the individual employees of ICBA member community banks. The association accepted nominations online throughout the month of September, allowing anyone to recommend a community banker for consideration. Judging Criteria. More than 400 community bankers were nominated by their colleagues and professional associates for the Community Banker of the Year recognitions.

Apple Pay from the Front Lines

Gonzobanker

It’s been a good three weeks since the new iPhone 6 arrived in the mail. It was a bittersweet moment as I had regretfully given up my iPhone 4S, primarily out of the geeky obsession that it was rumored to be the last product in which Steve Jobs was able to oversee development from start to finish. True or not, it led me to keep that phone much longer than my Samsung-loving family could bear. In fact, I threatened my wife I was going to keep the phone forever out of sentimental value.

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B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

SAP Banking Innovation Day Toronto – Chris Skinner

The Bankwatch

@Carole_Beatty #sapbankingday. Live blogging from the day. Introduction by Randy Lenaghan highlighted the de rigeur standard industry drivers in financial services today. Customer centricity as a principle. Core systems upgrading. Customer insight driven by data. He also pointed out a more subtle point that like IBM, SAP is having to quickly adapt to a world that many of us saw coming but was hard for multinationals to see.

Now You're Speaking My Language!

SWBC's LenderHub

When coaching our financial institution clients on how to sell SWBC’s products (like GAP, MMP, credit life insurance, etc.), our training team encourages participants to provide ongoing feedback. We want to know if the tactics and messaging we taught them worked in a real-life sales situation—and, more importantly, we want to know if they didn’t work. Sales Management Marketing Customer Service

Bankers Tell Me Their Top Industry Game Changers

Jeff For Banks

This week I did my annual tour of the West, teaching Bank Profitability in the Executive Development Program for the Washington, Oregon, and Utah Bankers'' Associations. As part of the day-long curriculum, we discuss industry trends. And since I have dozens of next generation leaders in the class, I ask them, what is the next game-changing trend in our industry? I make them write down the answer prior to going around the room seeking insights so we avoid group think.

The Future of Patient Payments in Healthcare

Strategically Speaking

Author: Mark Messick, MMessick@profitstars.com. While on vacation recently, I had a moment to reflect on my benefit elections for the upcoming year. For the last several years, we’ve chosen to elect a high deductible plan and put money into an HSA each pay period. It has helped us control costs, but we’ve also been lucky. Lucky that we’ve had no major medical issues or expenses that would have depleted the HSA and left us with a big bill.

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How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Spotlight on lending: Preparing for Q3 bank reports

Abrigo

With the fourth quarter of 2014 well underway, both banks and credit unions are in the midst of reporting their results from the previous three months. While Q3 reports will trickle in over the coming days to meet the end of October deadline, a crucial piece of the puzzle the financial community and economists will be looking at is loan growth rates. As American Banker reported last week, nearly a dozen regional banks saw scattered growth in their loan portfolios as part of the Q3 filings.

Once Upon A Time: How An Examiner’s Enlightened Words Turned This Bank Around

Banker to Banker

Once upon a time there was a bank that was close to failure. It used to be a great bank with branches filled with vibrant customers and earnings as thick as Kansas soil. However, over time customers moved on and the staff started to feel that they had little to offer compared to the largest of banks. This was a bank that was dying a slow death.

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Too-Big-To-Jail Talk is Cheap

Finer Points

Here in Washington, I hear a lot of talk. People will say just about anything and claim it’s the truth, no matter what the record shows. Well, I’m from the Show-Me State, where actions speak louder than words. Attorney General Eric Holder recently said that there is no such thing as too-big-to-jail. In a […]. Too Big to Fail Washington

Banks vs Fin-Tech Start-Ups and the Digital Transformation Race

Celent Banking

The digital transformation in financial services is about the move from the physical to the virtual world, from person-to-person interaction toward person-to-machine or machine-to-machine. It is Celent’s view that Integrating and coordinating among disparate and siloed delivery channels will be critical to satisfying ever-increasing customer expectations.

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.