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.
South State Correspondent
JUNE 30, 2015
If there is any point in the loan process that is the most critical it is the presentation of the term sheet. If done right, the term sheet ends up closing a profitable loan and if done wrong, it generates more questions and begs to be negotiated. One feature that we have found advantageous to the process is the inclusion of multiple options in loan structuring.
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Abrigo
JUNE 29, 2015
Over the past ten years, technological advances have made communications and on-demand services almost necessary for profitably relating to the world. Ultimately, goods and services have become highly customizable, and value propositions are tailored to the individual. These trends are not simply occurring within the consumer marketplace, but also in the way an employee views and relates to this or her employer.
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
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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 […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Matt Wilcox Pro
JUNE 30, 2015
For some reason and for the third year in a row, Bank Innovation has shown no better judgment than to include me on its list of “2015 Innovators to Watch.” The 2015 refers to the year, not to the number of innovators, which is a good thing, because 2,015 innovators would have made for a [.
South State Correspondent
JUNE 29, 2015
You have probably received an email from a spammer and thought “Why can’t these guys use spell check?” Or in similar vein, if everyone knows about the Nigerian Prince email scam in this day and age, why still say you are a Nigerian Prince? The immediate assumption is that the sender is moronic, a foreigner or careless. The ironic part is that the exact opposite is true and the move shows a bit of brilliance that every banker should employ. .
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.
Celent Banking
JUNE 29, 2015
Mining data to create better products and cross-sell opportunities is a perennial topic of conversation with banks. We’re often asked who does it well – in fact, I was asked this just last week. And the answer is…not many, frankly. More the exception than the norm. Some other industries who have recognised this however have taken action and made significant investments to tackle the problem.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
CFPB Monitor
JUNE 29, 2015
Barbara S. Mishkin. In a letter to the Government Accountability Office (GAO), Senator David Vitter questioned “the adequacy and thoroughness of the CFPB’s analysis of small business impacts” in connection with its payday lending rulemaking process and asked the GAO to conduct an investigation and issue a report on its findings. Senator Vitter chairs the Senate Committee on Small Business and Entrepreneurship.
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.
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.
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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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
Abrigo
JUNE 24, 2015
June and July have notoriously been the months that most firms use to attend accounting industry conferences. Though June is coming to a close, it is not too late to think through how your firm may be able to benefit from this time out of the office and away from clients. Above all, conferences will serve your firm by providing insight into your existing and potential service offerings and by opening up many networking opportunities for you and others from the firm.
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.
CFPB Monitor
JUNE 24, 2015
Barbara S. Mishkin. The CFPB published notices in yesterday’s Federal Register seeking comments on the following information collections: “Consumer Response Government and Congressional Boarding Forms.” The notice states that the CFPB has developed portals for state and federal agencies and congressional offices to view and search consumer complaint data.
Jeff For Banks
JUNE 22, 2015
Chris Cox, the head of Regions Bank eBusiness unit, was quoted in Bank Technology News on how personal financial management (PFM) tools will soon be part of a customer's everyday interaction with their bank once they login. I believe him. But will they do it through your financial institution? In a separate article, Jim Marous of The Financial Brand, opined that Mint, a PFM tool that "screen scrapes" financial information from various financial institutions and aggregates it into their tool, is
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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.
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.
South State Correspondent
JUNE 24, 2015
When it comes to commercial customer service, next to execution, there is nothing better to garner satisfaction than becoming a trusted financial advisor. As community bank relationship managers, we can be the foremost trusted advisors to our commercial customers. Given that we have seen multiple business and real estate cycles for hundreds of customers, and experienced banker possess the knowledge, insight and the ability to analyze a specific financial situation to then offer prudent, custom
Abrigo
JUNE 23, 2015
Aswath Damodaran is a business valuation expert and professor of Finance at NYU Stern School of Business. In this video, he reviews the importance of valuation and offers 3 main reasons why valuations fail—bias, uncertainty, and complexity. Damodaran presents the importance of being aware of the subjective nature of valuation and he discusses how valuation is simple, but we make it complex.
Celent Banking
JUNE 26, 2015
Yesterday saw very interesting news coming out of Europe regarding a joint venture between 6 European ACHs. To understand why many of us have sat up and taken VERY close interest in the announcement, we need to review some recent history first. Much of this will be covered in more detail in a forthcoming report on ACHs. In the very early days of SEPA, the European Commission made many public comments.
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.
CFPB Monitor
JUNE 25, 2015
Barbara S. Mishkin. As of today, consumer narratives are publicly available on the CFPB’s consumer complaint database. In its press release , the CFPB stated that the database now includes “for the first time over 7,700 consumer accounts of problems they are facing with financial companies concerning mortgages, bank accounts, credit cards, debt collection, and more.” In March 2015, despite widespread industry criticism , the CFPB announced that it had decided to adopt its plan
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.
SWBC's LenderHub
JUNE 16, 2015
If you keep up with current events, you may have heard the buzz about Google’s new mobile-friendly update. It essentially makes mobile optimization a bigger factor in determining how highly you will be ranked in Google's search results. And, if you haven’t read beyond the apocalyptic-sounding headlines, you may be thinking, “oh %^&*! We need to make our site mobile NOW before our site falls off the face of the Earth (as far a Google is concerned)!
South State Correspondent
JUNE 23, 2015
Last week we ran a blog with the concept on an idea for a new relationship account and a New Year’s countdown promotion to go with it ( HERE ). In response, many bankers asked our ideas for a summer promotion to gain new customers.
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