South State Correspondent

MAY 21, 2015

The 20’s and 30’s were known as the Golden Age Of Aviation and today is a particularly special day in aviation history as it marks the 88 th anniversary of Charles Lindbergh becoming the first person to fly across the Atlantic and the 83 rd anniversary of Amelia Earhart doing the same in the first female solo transatlantic crossing. In similar fashion, we are in the Golden Age Of Commercial Credit and today marks the day when commercial credit has never been better in the history of banking.

228

228

Finer Points

MAY 6, 2015

Last week’s ICBA Washington Policy Summit showed once again that community bankers are not only willing to go the extra mile—they’re even grateful for the privilege. With nearly 1,000 community bankers and industry advocates in the nation’s capital to advocate positive reform in more than 300 meetings with policymakers, there was a feeling of enthusiasm […].

Washington 195

Washington Community Policies Meeting 195

Celent Banking

MAY 5, 2015

Monday was the UK bank holiday, so some of us just came back to work after a long weekend. Many across the country used the extra time to do a bit of spring cleaning. I also found myself rummaging through some old materials and came across an interesting paper on how financial markets might look in 2020. Let me share a few quotes: “The basic financial functions […] will not change, although how we perform these functions will change.” “By 2020, a true global marketplace w

Kansas City 186

Kansas City Kansas Conference Security 186

Abrigo

MAY 20, 2015

That five-inch screen is ready to move to your wrist, and, perhaps surprisingly, that affects a lot more than just your wallet. It’s not just the technology industry that is constantly evolving – many other industries must also remain adaptable to the changing landscape of the American consumer. One such industry is banking. While many bank and credit unions are consistently updating their financial technology behind the scenes to ensure smooth back-end processes, tech upgrades for consumer-faci

Apple 174

Apple Mobile Comparison Innovation 174

Advertisement

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

Jack Henry

MAY 20, 2015

Author: Lee Wetherington, lwetherington@jackhenry.com. Bankers often fancy themselves “numbers people”. Interest rates. Balance sheets. Performance metrics. Bankers will calculate a Return on Anything (ROA) and Everything (ROE). So, if there is a subset of our species who are rational, surely it’s bankers. Right? Wrong. Bankers are no more rational than the rest of us.

Fraud 98

Fraud Trends US Millennials 98

South State Correspondent

MAY 27, 2015

Banks have been using a “teaser,” or an artificially low, introductory interest rate on mortgage loans and credit card for years. While various banks have flirted with them for commercial loans over the last ten years, it is now becoming more common place.

Cards 216

Cards 216

Gonzobanker

MAY 20, 2015

Following some longstanding Federal Financial Institutions Examination Council guidance, examiners are making sure banks have technology plans and that these plans meet the regulations. As a result, banks are taking a hit from examiners at a rate that rivals door dings in an outlet mall parking lot. About 70% of banks I’ve worked with do not have a strategic technology plan that will pass muster in their next regulatory exam.

Handbook 95

Handbook Technology Meeting System 95

Celent Banking

MAY 20, 2015

As many of you know, I’ve been on something of a world tour, which started with Nacha Payments in New Orleans in mid-April. Expect a flurry of blogs as I pass on my impressions from my travels, starting with the Nacha show. Whilst I may live in London, I have global coverage. Payments is an interesting business – whilst its perhaps one thing that unites all businesses and consumers in all countries, and we are moving increasingly to global standards, the finer details show that it is still

Conference 166

Conference Phoenix Meeting US 166

Abrigo

MAY 7, 2015

Written by Zeb Zilar, Project Lead, Sageworks Valuation Solution Baby boomers are hitting age 65 at a rate of 10,000 a day until 2030, according to the Pew Research Center. Another study showed that 65 percent of new business sellers in Q1 of 2014 were baby boomers. The transfer of wealth that is beginning to occur for the baby boomer generation is significant, and it’s clear from a recent poll by Sageworks that the baby boomer demographic is a frequent client of valuation professionals.

Millennials 174

Millennials Study Meeting Strategy 174

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.

Analysis

CFPB Monitor

MAY 6, 2015

Kim Phan. The CFPB recently released a report that documents the results of a research project undertaken by the CFPB’s Office of Research to better understand the demographic characteristics of consumers without traditional credit reports or credit scores. The Report concludes that the current credit reporting system is precluding certain populations from accessing credit and taking advantage of other economic opportunities.

Report 94

Report Study Industry Lending 94

Jack Henry

MAY 13, 2015

Author: Jenny Roland-Vlach, JRoland-Vlach@jackhenry.com. If you find yourself in need of a stark reminder on how quickly time passes by, consider this: May marks one year since the FFIEC officially announced their focus on cybersecurity for financial institutions. Even though official guidance is still pending, the FFIEC has been using the past year to continue underscoring the importance of cybersecurity.

Training 91

Training Management Risk Management Security 91

South State Correspondent

MAY 20, 2015

Larger banks are paying their lending staff higher compensation than smaller competitors are paying their teams. The difference in the same market, similar seniority and position can be as much as 100% when factoring salary, bonus, profit sharing and stock incentives. It can be difficult for a community bank to attract the lending talent it needs, but we point out that many community banks are succeeding by investing in their culture and building an environment that goes beyond traditional com

How To 214

How To Community Bank Lending Community 214

SWBC's LenderHub

MAY 6, 2015

More and more, financial institutions are beginning to accept and embrace their role as financial educators. You are no longer simply the provider of checking accounts, credit cards, and auto and home loans; your customers are looking to you to answer their most pressing financial questions. We talk a lot about the importance of institutions finding a way to break past the competition by moving beyond low rates and offering their members real value.

Cards 89

Cards 89

Advertisement

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.

Lending

Celent Banking

MAY 22, 2015

This week’s NACHA vote in favor of mandatory rules changes enabling same-day ACH settlement is no surprise. Some of the press coverage suggests this represents some sort of significant achievement. Really? By March 2018 (when the network is currently expected to be able to fully support systemwide changes) I predict there will be industrywide consensus on the inadequacy of the measure.

System 162

System Payments Industry Mobile 162

Abrigo

MAY 22, 2015

The topic of affordable rental housing is likely to be an increasingly popular one in the coming years, given the number of baby boomers expected to downsize as they retire and the rising share of millennials choosing rentals over homeownership. Indeed, a number of recent reports have raised concerns that renters will increasingly find it difficult to afford rental units.

Marketing 163

Marketing Community United States Guidelines 163

CFPB Monitor

MAY 13, 2015

Ryan J. Richardson. The Office of the Comptroller of the Currency has released revised TILA and RESPA chapters of its examination manual for consumer compliance exams. The revised chapters incorporate the detailed procedural and substantive requirements of the CFPB’s TILA/RESPA integrated disclosures (TRID) rule, which is set to go into effect on August 1, 2015.

Compliance 93

Compliance FDIC 93

Jack Henry

MAY 6, 2015

Author: Richie Dodgen, RDodgen@jackhenry.com. We are an extremely mobile society. Most of us own multiple mobile devices: phones, tablets, and wearables; and as customers, we are accustomed to interacting with retail businesses via a mobile device. Traditional forms of banking technology and delivery channels don’t completely satisfy this customer preference, but the good news is that changes in the banking industry and bankers’ eagerness to adopt new technology are beginning to bring about a ne

Mobile 88

Mobile Retail US Technology 88

Advertisement

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.

Operations

South State Correspondent

MAY 11, 2015

Community banks continue to look for ways to control expenses. One effective way to minimize overhead costs is to outsource non-critical or non-differentiated tasks to third party vendors who are able to perform the function cheaper and/or faster. Banks have increased the breadth of outsourced processes and functions: everything from check processing, website management, payment solution and even some underwriting analysis and sales leads.

Community Bank 207

Community Bank Community Analysis Management 207

Banking 2020

MAY 12, 2015

*José Resendiz originally spoke on this topic during an NCR Corporation TEDx Talk in April 2015. A blog like this may not seem like the forum to talk about undertaking an Olympic triathlon, but it actually makes perfect sense. It didn’t just make me better at my job, it taught me to approach my work in an entirely different way. Specifically, it taught me about customer empathy and experimentation as two good tools to use in innovation.

Innovation 81

Innovation Digital Banking Survey Exercises 81

Celent Banking

MAY 15, 2015

Over the last ten days I’ve spent time at two different conferences, Finovate and SAP’s SAPPHIRE NOW. Two very different conference models generated serendipity where I wouldn’t necessarily have expected it. Both shows were rife with partnership possibilities. SAP spoke continually of the partnership ecosystem, realizing that one of its values is bringing partners together, while at Finovate, the notion of small companies going direct to consumer by themselves was basically dead – they realize t

Conference 159

Conference Apple Bitcoin Maine 159

Abrigo

MAY 28, 2015

By Brad Spence, Director of Sageworks Valuation Solution Most business owners aren’t as lucky as 91-year-old media tycoon Sumner Redstone, who famously declared he won’t discuss succession planning for his Viacom and CBS empires because he isn’t going to die. The fact is, millions of business owners are over age 50, and at some point, each will have to consider whether to sell, pass on or simply shut down their business.

Training 150

Training Marketing Analysis Company 150

Advertisement

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

MAY 6, 2015

Marc Patterson and Richard J. Andreano, Jr. The CFPB along with five other federal agencies have issued a final rule that establishes minimum state registration and substantive requirements for appraisal management companies (AMCs), as required by Section 1473 of the Dodd-Frank Act. AMCs that are a subsidiary of an insured depository institution and are federally regulated (federally regulated AMCs) are subject to the substantive requirements of the rule, but are not subject to state registrati

Company 92

Company Management National Exercises 92

Jack Henry

MAY 11, 2015

Back in November, Jack Henry & Associates and Microsoft announced the introduction of the innovative new Branch Anywhere application for Microsoft Windows and Surface Pro 3. The Branch Anywhere app allows banks to centrally manage all aspects of customer info and allows bank employees to become mobile branch managers who can better meet their clients by safely and securely accessing important customer and account information from any location.

Mobile 81

Mobile Meeting Innovation Management 81

South State Correspondent

MAY 11, 2015

Daniel Björkegren, an economist at Brown University in Providence, released research that shows that banks can predict how likely someone was to pay back a loan based on cell phone call metadata. After analyzing data from 3,000 borrowers from a bank in Haiti — the number of calls, the length, frequency and who was called, Björkegren found the bank can reduce consumer loan defaults by 43 percent.

Analytics 199

Analytics Data 199

ABA Community Banking

MAY 22, 2015

“Internet of Things” could put banks back at center stage Management Blogs UNconventional Wisdom CSuite.

Management 80

Management 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.

Community Bank