Abrigo
JULY 1, 2021
Identify Human Trafficking via Transactions Banking professionals run across many types of transactions pointing to human trafficking. Here are tips to spot them from Love Never Fails Founder Vanessa Russell. You might also like this webinar: "Human Trafficking - Close to Home" WATCH . Takeaway 1 Some financial transactions flag human trafficking because they are from websites notorious for this behavior.
Accenture
JULY 21, 2021
Historically speaking, taxes have been taxing. This is more than a silly joke—though I will grant that it’s also that. Since the inception of taxes, the payment and collection of them has been filled to the brim with delays, hassles, and needless complications. But new developments in the payments ecosystem—Open Banking, ISO20022—are about to change all that.
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Perficient
JULY 8, 2021
The Federal Reserve released in late June the results of its annual bank stress tests. The Fed’s Comprehensive Capital Analysis and Review (“CCAR”) stress tests are designed to ensure that large banks can lend to households and businesses even in a severe recession. The annual exercise evaluates large banks’ resilience by estimating their loan losses, revenue, and capital levels—which provide a cushion against losses—under hypothetical recession scenarios that extend nine
Gonzobanker
JULY 9, 2021
The fintech market is smokin’ hot right now. But is it headed into a warm, steady burn, or will it end up as a dumpster fire? After a year in lockdown where consumers and investors saw Zoom stock zooming, investors are flush with cash (or stock) at the ready. Whether housing, used cars, or timber, demand is driving activity to record levels. Fintech is no different.
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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.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
JULY 28, 2021
How the pandemic affected the allowance under the two models Abrigo analyzed proprietary loan-level data from FIs operating under the two different models and found contrasting stories of how reserve and provision levels progressed after the pandemic began. Would you like other articles like this in your inbox? Takeaway 1 Allowance levels jumped in Q1 2020 for SEC filers due to the transition to CECL and the start of the pandemic, but FIs began releasing reserves in Q1 2021 as conditions improve
Accenture
JULY 1, 2021
The power of the cloud is not new for banks. But we are rapidly approaching a tipping point in the industry’s adoption of the cloud, spurred partly by the digital acceleration caused by the pandemic. Nearly every bank has adopted the cloud in some form, or are planning to get there soon. The reason for…. The post How the cloud can transform people practices in banking appeared first on Accenture Banking Blog.
Perficient
JULY 7, 2021
The Office of the Comptroller of the Currency (OCC) has released 16 Community Reinvestment Act (CRA) performance evaluations. These evaluations are based on on-site examinations by OCC-trained staff. On-site examinations are done every other year. The reviews, which can take weeks for small banks and months for large banks, assess an institution’s performance in helping to meet the credit needs of communities, including those of low or moderate-income within its assessment area.
Cisco
JULY 29, 2021
Application is the Business & Level of Digitalization is the Brand. In our ever-changing world, where the application represents the business itself and the level of digitization it provides is directly related to the perception of the brand; enterprises must ensure they stand differentiated by providing exceptional user experience – both for their customers as well as their employees alike.
Advertiser: ZoomInfo
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.
Jack Henry
JULY 8, 2021
Economic Value of Equity (or “net economic value” for credit unions) is the difference between the fair value of assets and the fair value of liabilities. Economic value of equity (EVE) is a longer term look at interest rate risk. Over the course of the pandemic, with market interest rates at historic lows, fair value of deposits declined. Consequently, EVE has declined significantly for most banks and credit unions.
Abrigo
JULY 28, 2021
Why it makes sense to adopt CECL immediately SEC filers and experts recommend starting CECL implementation ASAP to have the best opportunity for a smooth transition. You might also like this resource: CECL Prep Kit. DOWNLOAD. Takeaway 1 The 2023 deadline for CECL implementation is coming, and many SEC filers have said they would have started earlier. .
Accenture
JULY 29, 2021
Banks around the world right now are racing to the cloud. Are the winners of the race already too far ahead to catch? In my previous posts in this series, we’ve looked at the forces driving most banks to kick their cloud transformation journeys into high gear. We’ve also looked at the talent and people…. The post Accelerate your bank’s cloud transformation with the three As appeared first on Accenture Banking Blog.
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Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.
Perficient
JULY 6, 2021
While many people are returning to the office after their July 4th festivities carrying on as usual, bankers can return knowing that the Federal Reserve Board has extended the Paycheck Protection Program Liquidity Facility until July 30th. The Paycheck Protection Program Liquidity Facility, or PPPLF, extends term credit to financial institutions making Paycheck Protection Program (PPP) loans, accepting the PPP loans as collateral.
Cisco
JULY 12, 2021
Earlier this year Cisco completed its acquisition of imimobile, adding an enterprise-grade CPaaS platform to Cisco’s industry-leading collaboration and contact center solution portfolio. The Cisco Financial Services team welcomes imimobile’s Alex Cambell , SVP Sales at imi mobile, as our guest blogger this week. Changing consumer behavior and digital disruptors within the banking industry have redefined how we interact with financial service providers.
Gonzobanker
JULY 21, 2021
How much are you willing to pay to be chummy with your solution provider? In a recent survey of banks and credit unions about their technology vendor contracts, Cornerstone Advisors found that more than half of these financial institutions allow emotional factors to influence their negotiation processes. And it’s costing them money. We’ve negotiated enough contracts to understand why this happens.
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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.
Abrigo
JULY 26, 2021
The Scaled CECL Allowance for Losses Estimator (SCALE) tool was unveiled This tool is allowed only for banks under $1 billion as they transition to CECL. . Would you like other articles like this in your inbox? Takeaway 1 The Fed's SCALE tool for calculating the allowance under CECL is an Excel spreadsheet-based option for banks under $1 billion that uses estimated loss rates from peers as a “starting point” in the calculation.
Accenture
JULY 8, 2021
Human touch, digital reach As I write this, parts of the world are slowly returning to a new version of normal. But many of us are still experiencing, or are in recovery from, the massive upheaval brought about by COVID-19. With governments slowly pulling back financial relief measures, those who relied on state funds will…. The post Empathetic banking: Human touch, digital reach appeared first on Accenture Banking Blog.
Perficient
JULY 26, 2021
Insurance serves a noble purpose: to protect individuals & businesses and their property, liability, and financial obligations. At their roots, many of the large, well-known carriers today began by serving the distinctive needs of businesses and individuals who could not find coverage elsewhere. Rural residents paying city insurance rates, government employee affinities, and experiences tailored for military families are just a few examples of these beginnings.
CFPB Monitor
JULY 27, 2021
A Maryland federal district court has dismissed a putative class action lawsuit filed against nine companies that manage apartment buildings in the Washington, D.C. area by a 55-year old prospective tenant who alleged the defendants engaged in unlawful “‘digital housing discrimination’” by routinely and intentionally excluding older people from receiving Facebook advertisements for their apartment complexes in the D.C. area.
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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
Gonzobanker
JULY 6, 2021
Three winning core strategies to accommodate any financial institution’s budget, business case, and future vision. It has become crystal clear that digital transformation is now the largest technology initiative for regional and community financial institutions.
SWBC's LenderHub
JULY 26, 2021
Last Week. Another week, another new all-time high for stocks. Equities plunged at the beginning of the week. The S&P 500 dropped 1.6% on Monday as risk assets reacted to the very real risk of the COVID-19 Delta variant causing havoc and snuffing out the recovery. However, by Tuesday, the buy dip crowd came in like gangbusters, taking both the S&P 500 and the NASDAQ 100 up to new all-time highs by Friday.
Abrigo
JULY 21, 2021
Key Priority: Foreign and Domestic Terrorist Financing Among FinCEN's first list of key priorities for AML/CFT policy is detecting, reporting, and preventing foreign and domestic terrorism. Would you like others articles like this in your inbox? Takeaway 1 Human trafficking and human smuggling often intersect with the financial industry. Takeaway 2 After drug trafficking, human trafficking is the second-largest criminal industry in the world.
Accenture
JULY 11, 2021
Auto and equipment buyers are no longer satisfied with simply financing an asset, the traditional way of paying for such things. Instead, they want maintenance and service included, and they expect more flexible payment plans.
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.
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