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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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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Gonzobanker

JUNE 3, 2015

“There are only two kinds of people who are really fascinating: people who know absolutely everything and people who know absolutely nothing.” — Oscar Wilde. Gonzonians, one of the realities of banking in 2015 is that there’s just a lot more to know than there used to be. Pick a topic: changing consumer behavior, new technology, industry disruptors, new payments players, vendors, products—and on and on.

Management 99

Management Examples Lending Conference 99

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

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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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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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

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.

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ATM Video Community Bank Community 88

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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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

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

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.

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Data Operations Analysis Management 90

SWBC's LenderHub

JUNE 23, 2015

It’s a fact that change comes easier to some versus others. While some embrace change as a chance for a new beginning, others look at it as a departure from the norm, extra work, and a chance of failure. Some want to forge ahead, and others want the status quo to remain until they are gone.

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Risk Management Marketing Management Lending 83

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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

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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

Banking 4 Tomorrow

JUNE 18, 2015

If you listen to the Breaking Banks AM Radio Show today (also available via stream and podcast) you’ll hear a spirited rematch of the Great Digital Banking Debate that Michal Panowicz and I had on Twitter a few weeks ago. The debate concluded with a split decision – Twitter declaring the FinTech team the winner, […].

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Digital Banking Fintech Branding Strategy 88

CFPB Monitor

JUNE 17, 2015

Barbara S. Mishkin. The CFPB has issued its seventh Semi-Annual Report to the President and Congress covering the period from October 1, 2014 through March 31, 2015. The 190-page report recycles information from previously-issued CFPB reports and reviews ongoing and past developments, all of which we have already covered in previous blog posts. By way of aggregate statistics, the report indicates that in the six-month period it covers, CFPB supervisory actions resulted in financial institutions

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Report Payments 83

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

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 83

Jack Henry

JUNE 17, 2015

Author: Craig Laures, CLaures@profitstars.com. Banking professionals are always looking for a way to “do better.” Doing better comes in many shapes and sizes. To some, banking better might mean improved earnings, innovation, enhanced risk mitigation, growth or expansion, and new lines of business. To others it could mean the opportunity to further serve a greater good or additional giving to charitable programs.

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FDIC Trends Community Innovation 83

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.

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Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

Innovation