Accenture
DECEMBER 13, 2021
As banks turn to the cloud to transform their operations and catalyze growth, many are still searching for silver linings. Our multi-sector survey, Modern Cloud Champions, found that 65% of banks are not capturing the full value they expect from the cloud. Some of the most common barriers banks run into on the way to cloud transformation are talent and ways of….
Independent Banker
DECEMBER 31, 2021
Photo by Robert Severi. A spirit of innovation and can-do attitude will serve you well this year, helping you remain ahead of the curve and address issues that arise. “Dream big. Start small. But most of all, start.” This sage advice from best-selling author Simon Sinek is the motivation we need to navigate the new normal of this new year. With the aftereffects of the pandemic still at hand, community banks are facing an unparalleled level of uncertainty.
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Gonzobanker
DECEMBER 8, 2021
Hot embers continue to glow in the fintech market that GonzoBanker mothership Cornerstone Advisors serves. According to CB Insights, US fintechs raised $14.6B in the most recent quarter. While that’s lower than the prior quarter, it’s up 121% for the year. Some perspective on how fast this fintech market is moving: Fintech Labs tracks 269 $1B+ valued fintech unicorns that have been founded in just the past two decades. #267 on the list is Thought Machine , a company started only six years ago th
CFPB Monitor
DECEMBER 28, 2021
The California Department of Financial Protection and Innovation (DFPI) has published a notice on its website concerning delays that debt collectors and buyers seeking to comply with the new licensing requirement in the state’s Debt Collection Licensing Act are currently experiencing. The new law, passed in September 2020, requires debt collectors and buyers to apply for a DFPI license by December 31, 2021.
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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.
SWBC's LenderHub
DECEMBER 13, 2021
Last Week. Equity markets decided to look at the glass as half full, last week—keying in on initial reports that the Omicron Covid variant might be very contagious but not as lethal as Delta—and got their rally on. The tech-heavy NASDAQ managed to defy the narrative that it trades with positive interest rate duration, heading up 3.6% in the face of rising rates.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
DECEMBER 1, 2021
After a decade of disruption, what has changed for commercial banks?? The digital economy has taken off around much of the world over the past 10 years, and the banking sector has been feeling the impact of this transformation and attempting to keep up with it. In fact, the digital transition in financial services began…. The post What’s next after 10 years of banking disruption?
BankUnderground
DECEMBER 14, 2021
Thomas Belsham. The price of Bitcoin is currently around $57,000 (see Chart 1 ). But what is the price of Bitcoin based on? It’s just a bunch of code that exists only in cyberspace. It’s not backed by the state. There’s no recourse to a central authority. There’s no underlying asset, no stream of income. There’s just the thing itself. But does that mean it has no inherent worth ?
ATM Marketplace
DECEMBER 31, 2021
As consumers become used to using self-service technology, technology providers are offering more tool such as artificial intelligence and data analytics in combination with self service. Retailers, financial institutions and other businesses are beginning to embrace these technologies with tools ranging from self-service kiosks to enhanced ATMs.
CFPB Monitor
DECEMBER 23, 2021
The CFPB, FTC, DOJ, and Federal Reserve Board have filed a joint amicus brief in the U.S. Court of Appeals for the Seventh Circuit urging the court to reverse a district court ruling that an individual who had already received credit from the defendant and who was not currently applying to the defendant for credit was not an “applicant” for purposes of the ECOA’s adverse action notice requirement.
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Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment
SWBC's LenderHub
DECEMBER 21, 2021
“ When you can’t borrow another buck from the bank or buy another case of booze, you bust the joint out. You light a match.” – Henry Hill – Goodfellas. I have always wondered what the difference is between the mob “Bust Out” made famous in the movie “Goodfellas” and a Private Equity Leveraged Buy-out. In a mob bust out, your friendly organized crime gang becomes your business partner.
Jack Henry
DECEMBER 2, 2021
When it comes to signing up for a new Netflix account, customers can go from first click to watching movies in minutes. This means that when they open a new account at your bank or credit union, they aren’t thinking about the complex security measures that go into protecting their funds. Instead, they’re thinking of the quick and easy process they’ve experienced with their favorite brands.
Accenture
DECEMBER 15, 2021
The fintech revolution is here: Over $34 billion of venture-capital funding went to fintechs in the second quarter of 2021. As technology continues to disrupt the traditional way of doing things and innovation moves at an increasing pace—some say a “frenetic” pace—the leaders of the financial services industry will need to move fast to respond.…. The post Innovation with techquisition: Getting it right appeared first on Accenture Banking Blog.
BankUnderground
DECEMBER 15, 2021
Before Bank Underground goes off on its Christmas holidays, it’s time for the Annual Bank Underground Christmas Quiz! We hope you enjoy testing your knowledge on our festive themed questions on economics, finance and all things central banking…. 1) The G-funk classic ‘Regulate’ was a 1994 hit for whom? Please view this post in your web browser to complete the quiz. 2) Ebenezer Scrooge’s creditworthiness at which Square Mile financial institution is mentioned in the opening lines of Charles Dicke
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Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.
ATM Marketplace
DECEMBER 14, 2021
Payments have gone through a transformation in the last two years. With COVID-19, customers have increasingly adopted other payments methods such as digital wallets; however, these payment options come with a variety of challenges for retailers and businesses such as fraud.
BankInovation
DECEMBER 1, 2021
Cryptocurrency as an asset class won't survive unless it's properly regulated, and while it isn't, investors face harm — and some that don't want regulation wish to avoid the law. This was the message today from U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, who spoke alongside former SEC chairman Jay Clayton at the […].
SWBC's LenderHub
DECEMBER 20, 2021
Last Week. Last week was mostly about the Fed’s FOMC December meeting, until it was not! The week started with November PPI coming in red-hot. The narrative was set for a more hawkish Fed in 2022 as the realization set in that inflation was not transitory and stronger medicine was needed. On Wednesday, Chairman Powell did not disappoint as he announced that the Fed would go “Turbo-Taper” and double the amount of tapering on a monthly basis with the result being zero new purchases of Treasury not
Jack Henry
DECEMBER 14, 2021
As we continue marching towards final adoption of FASB’s ASC-326 (a.k.a., Current Expected Credit Loss, or CECL for short) in January 2023, community banks and credit unions are fully engaged. When CECL was first released back in 2016, the prevailing thought was that achieving compliance basically meant choosing a model and filling it with data. Everyone thought the biggest challenge would be figuring out how to bridge the gap between the allowance for loan and lease losses (ALLL) calculated by
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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
Accenture
DECEMBER 6, 2021
If you believe the hype, neobanks are disrupting every corner of the financial services market. The biggest players are signing up tens of millions of customers, with some of them experiencing 150% year-on-year growth in their customer base, according to Accenture research. But as we discussed in our last post on how neobanks can balance…. The post For success, neobanks need to know their “why” appeared first on Accenture Banking Blog.
BankUnderground
DECEMBER 8, 2021
Tirupam Goel, Ulf Lewrick and Aakriti Mathur. Reforms following the 2008 financial crisis have led to significant increases in banks’ capital requirements. A large literature since then has focused on understanding how banks respond to these changes. Our new paper shows that pre-reform profitability is a vital, but often overlooked, driver of banks’ responses.
TheGuardian
DECEMBER 20, 2021
Lender ‘failed to be open and cooperative’, says regulator the PRA The Bank of England has fined Standard Chartered £46.5m for repeatedly misreporting its liquidity position and for “failing to be open and cooperative” with the regulator. The Bank’s Prudential Regulation Authority (PRA) said Standard Chartered had made five errors in reporting an important liquidity metric between March 2018 and May 2019, which meant the watchdog did not have a reliable overview of the bank’s US dollar liquidity
BankInovation
DECEMBER 27, 2021
Nearly 18 months ago, Congress, the White House, and the financial services industry undertook an unprecedented joint effort to inject hundreds of billions of dollars into the economy through loans to millions of small businesses. The Paycheck Protection Program (PPP) would eventually distribute over $800 billion in just 13 months with the disbursement of 80% […].
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.
SWBC's LenderHub
DECEMBER 6, 2021
Last Week. Yet another wild one, last week. The week started with further angst over the new COVID-19 variant, Omicron. While equities rallied Monday after the steep selloff on Black Friday, you could feel that the market was spooked and ready to sell-off.
PopularBank
DECEMBER 1, 2021
You’ve heard U.S. mail delays on the news, read about them in your daily feeds – and perhaps even experienced them yourself. Soon, the old saying “the check is in the mail” may suddenly take on a new reality. Which means now might be a good time to explore alternative payment options. USPS changes delivery timelines. “Neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds.
Accenture
DECEMBER 14, 2021
The small-and medium-sized enterprises (SMEs) landscape has been significantly altered over the last two years. Many businesses struggled, others adapted and innovated, and many new SMEs were born during the pandemic. Regardless of whether they thrived or neared failure, all of them are now counting on banks to help build for the future as the…. The post How can banks support small business recovery??
BankUnderground
DECEMBER 21, 2021
As another year draws to an end and the blog prepares for some downtime over the festive period, we wanted to take a look back at the blog in 2021. In response to the global Covid-19 pandemic, in 2020 we launched a Special series: Covid-19 Briefings. Contributions continued into this year and featured among our top-read posts. In addition, we published posts on a wide variety of topics including the impact of policy uncertainty on the global economy , the transmission of global funding shocks to
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.
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