South State Correspondent

JUNE 17, 2015

We need your help on this one. If you have a pen and paper, keep it handy as we will ask you to write down one number related to your bank. First, let’s define the concept. In statistics , the correlation coefficient is a measure of the linear dependence between two variables X and Y, with a value that ranges between +1 and −1 inclusive. A correlation of 1 is perfect positive correlation, 0 is no correlation, and −1 is a perfect negative correlation.

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Celent Banking

JUNE 30, 2015

Corporate treasury departments initiate and approve millions of dollars in high-value payments on a daily basis. As an example, in May 2015 the average amount of a US Fedwire transfer was $5.7 million. Because of the dollar value of these transactions, banks were early adopters of enhanced authentication for corporate online banking applications. Many banks continue to offer one-time-password authentication (on top of traditional username and password) using RSA SecurID or Vasco DIGIPASS hardwar

Digital Banking 195

Digital Banking Online Mobile Technology 195

Abrigo

JUNE 4, 2015

Chances are, most business valuation professionals took accounting, finance or economic classes in college – courses that focused on areas to provide them general competency in their jobs today. It’s less likely that many of these valuation professionals took marketing classes , especially not one that incorporated the seismic shifts that have occurred in our digitally connected economy over the last decade.

Survey 174

Survey Strategy Resources Course 174

Finer Points

JUNE 2, 2015

The recent guilty pleas and fines against five of the world’s largest financial institutions demonstrate not that regulators are finally cracking down on megabank crime, but that it’s still business as usual on Wall Street. Five global banks pled guilty to conspiring to manipulate interest rates and foreign currency exchange markets and have to pay […].

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Regulation Marketing Washington 174

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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Groups

Accenture

JUNE 29, 2015

In my last post, we talked about the burning platform facing banks in North America: digital disruption. New competitors are crafting digital business models that disrupt traditional banking, at a time when banks in North America are hesitant about increasing. Read more.

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Risk Management Management America 156

South State Correspondent

JUNE 11, 2015

The now famous Ally Bank commercial of 2012 that asked two kids if they want a pony goes down as one of the most effective in banking history. Two girls are asked if they want a pony, and while the girl in blue gets a toy pony, the girl in orange gets a real pony. Disappointment ensues to the Blue Kid and the moral, of course, is even kids know it’s wrong to treat others differently.

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How To Course 228

Celent Banking

JUNE 17, 2015

The branch is an important channel is every bank, but the risen of digital raises two questions: what’s its role in with a digital engagement model, and how should banks think about its value? First, consider some of the challenges of the traditional branch for the modern, digital consumer: Branches suffer from lack of talent availability. The best person for the job is not always going to be in the right location at right time.

Video 195

Video Customer Experience User Experience Training 195

Abrigo

JUNE 25, 2015

If you’re craving an omelet the next time you sit down at your favorite restaurant, you may need to reconsider your order. If eggs are even on the menu at your local haunt, your dish may carry a higher price tag than the last time you dined out. The egg shortage , brought about by a bird flu virus that wiped out nearly 50 million chickens (and turkeys) on commercial farms earlier this year, has left all parties – from the farmer to restaurateur and the consumer – impacted.

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Community Bank Sacramento Lending Wisconsin 163

Finer Points

JUNE 16, 2015

Sometimes common sense really can prevail in Washington. It’s been known to happen before, but the latest example was the House’s recent removal of an onerous amendment that would have drastically increased IRS reporting requirements. This particular amendment would have required banks to send a 1099-INT form to any depositor who earned any amount of […].

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Washington Examples Report Taxes 146

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Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

Analysis

SWBC's LenderHub

JUNE 9, 2015

Email marketing is a great and cost-effective way to reach your target audience—both prospects and current customers for cross selling opportunities. When done correctly, it can yield astounding results. No, really— 66% of consumers have reported that they've made a purchase as a result of an email they received.

Marketing 98

Marketing Report 98

Gonzobanker

JUNE 22, 2015

Do you know the strategy of the bank or credit union that you work for? a) Yes. b) No. c) This is a trick question, right? If you chose a), congratulations! Self-deception regarding life’s realities is a great coping strategy. You won’t go far in life, but it won’t matter because you’ll convince yourself that you did. If you answered b), don’t feel bad.

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Strategy Survey Course Exercises 99

South State Correspondent

JUNE 25, 2015

As of yesterday, general registration for the.BANK web domain extensions opened and an estimated 4,000 domains were applied for. Approved by ICANN in 2008, financial organizations and trade associations banded together to establish an fTLD Registry Services, an entity that would control these “financial top level domains” (fTLDs). Open on a limited basis since May, yesterday was the first day any bank could apply.

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Strategy Industry 223

Celent Banking

JUNE 12, 2015

Last week I joined Celent’s banking practice as a Senior Analyst covering Corporate Banking. I join fellow corporate banking analysts, Gareth Lodge and Jim O’Neill. Gareth covers payments back office, payments infrastructures, and payments connectivity. Jim covers core systems modernization, the impact of cloud computing, and treasury management technology.

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Lending Trends Meeting Banking Trends 165

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Lending

Abrigo

JUNE 10, 2015

In late December, CNBC took a peek inside the bank branch of the future. The piece looks at one possibility – a faceless branch, where avatars take the place of tellers. CNBC said in the article, “Community-level banking, particularly from large institutions, will become more cost efficient and less personal.”. But is this what bank and credit union customers want?

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Survey Mobile Millennials ATM 163

CFPB Monitor

JUNE 25, 2015

Marc Patterson. The CFPB has issued its formal proposal to delay the effective date of the TILA-RESPA Integrated Disclosures (TRID) rule until Saturday, October 3, 2015. The new effective date comes only a week after the CFPB announced it would delay the effective date until October 1, 2015 due to an administrative error that was made in the rules disclosure and review process.

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Industry System Software 98

Independent Banker

JUNE 29, 2015

Interactive video ATMs draw attention as an alternative retail delivery option. By Katie Kuehner-Hebert. ATMs with video connections to bank staff in a centralized back office have been getting a lot of buzz within the industry. But are the machines really taking off as a worthwhile retail delivery option? For some community banks, video tellers, sometimes called interactive teller machines or ITMs, can work well for select markets or under certain conditions, experts say.

ATM 88

ATM Video Community Bank Community 88

Gonzobanker

JUNE 16, 2015

The notoriety of Seal Team 6, also known as the Naval Special Warfare Development Group (DEVGRU), hit center stage in recent years with missions all over the world resulting in publicity, books and movies. The team comprises the Navy’s best of the very best. It is so exclusive that the highest performers have to be invited just to participate in an exhaustive tryout that lasts several months.

Data 90

Data Operations Analysis Management 90

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Operations

South State Correspondent

JUNE 3, 2015

A traditional bank is organized along a hierarchical structure. The CEO presides over executive vice presidents that head up various divisions supported by senior vice presidents, then vice presidents and so on. Commercial loans, retail, branches, mortgages, etc. all report up to their chain of command. Most banks are essentially organized along product lines with a rough geographical overlay so that every region has a representative for each product.

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Regional Retail US Report 223

Celent Banking

JUNE 5, 2015

A highlight of my year is the Boulder Summer Conference on Consumer Financial Decision Making put on by the Leeds Business School’s Center for Research on Consumer Financial Decision Making. An event geared towards academics, its rigor is a refreshing complement to the work that I see from market practitioners at traditional industry shows. A handful of private sector folks come each year, but most are from academia or policy; being able to bridge the two worlds is extraordinarily refreshing.

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Conference Taxes User Experience Nebraska 163

Abrigo

JUNE 30, 2015

The attention on the FASB’s current expected credit loss (CECL) model has only increased in recent months, as the industry braces for the release of final guidance before the end of 2015. The CECL model will require banks and credit unions to consider expected losses rather than incurred losses. As a result, ALLL levels are expected to rise and institutions will face a one-time capital adjustment once guidance is effective.

Analysis 150

Analysis Resources Data Capital 150

Banking 4 Tomorrow

JUNE 29, 2015

For over 100 years employment has been shifting out of big industry and into services. Whether agriculture, fishing, mining or in the last 50 years manufacturing, as processes become automated, we’ve shifted to jobs where humans matter. But in a world where the ability of a human is surpassed by artificial intelligence, there is a […].

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Industry Customer Experience Marketing Strategies Marketing 87

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Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

Cards

CFPB Monitor

JUNE 3, 2015

Barbara S. Mishkin. The CFPB has launched “a first-of-its-kind nationwide initiative to provide financial counseling services to people with disabilities who are working or transitioning into the workforce.” The program is named “ROADS to Financial Independence.” ROADS stands for “Outcomes. Achieve Dreams. Succeed.” The initiative is based on the CFPB’s view that “in-person, individualized guidance delivered at trusted and accessible locations&

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DC Delaware Alabama Austin 85

Jeff For Banks

JUNE 1, 2015

Lately I have been asked to opine on bank Board compensation. Although not a compensation expert by any means, I suspect I am being asked for an outside-the-box opinion. This reminds me of one of my colleagues favorite quotes; "those that live outside the box have never been in it." But with most areas that are outside of my technical expertise but within my industry expertise, I tend to revert to common sense.

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FDIC Industry Groups Management 84

South State Correspondent

JUNE 18, 2015

Ahh, Summer – the taste of watermelon, the smell of BBQ and the struggle to keep from getting an iPhone-tan line as we text from the pool. We have been waiting all winter to start complaining about the summer heat and now we get our chance. Regardless of what you have planned for the dog days of summer, the season is also the time to start planning your winter account promotions.

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Celent Banking

JUNE 26, 2015

I’m just back from a very interesting week in London at the Marketforce-sponsored “The Future of Digital Banking” forum. I served as Chairman for Day 1 of the two-day conference and had a front-row view of the proceedings. The theme of the conference was that customer-centricity and innovation need to be the guideposts to a bank’s transformation from a bricks-and-mortar operation into a digital enterprise.

Digital Banking 154

Digital Banking Conference User Experience Operations 154

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

Community Bank