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.

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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 […].

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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

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Kansas City Kansas Conference Security 186

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.

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Fraud Trends US Millennials 98

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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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Jeff For Banks

MAY 9, 2015

"What gets measured, gets managed." Why did we need Peter Drucker to point this out? Educators are forever carping about standardized tests because they are spending a lot of time on teaching kids to improve their test scores. Baseball players are measured on batting average, on base and slugging percentages. So they are spending significant energy to improve them.

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Strategy Taxes Lending Report 96

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.

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Cards 216

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.

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Report Study Industry Lending 94

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

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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.

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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.

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Cards 89

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.

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Innovation Digital Banking Survey Exercises 81

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

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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.

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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.

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System Payments Industry Mobile 162

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

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ABA Community Banking

MAY 16, 2015

Risk-tech investment to zoom, and bad guys go “a-whaling” Risk Management Blogs Making Sense of it All Cyberfraud/ID Theft.

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Risk Management Management 77

Banking 2020

MAY 27, 2015

Nearly 60 percent of smartphone owners have used their device to bank online, according to new data collected by the Pew Research Center. Small-business owners can leverage on-the-go banking or cloud-based accounting systems that can be accessed on a mobile device to gain operational efficiencies and lower overhead costs, but the need to keep financial information secure is as critical as ever.

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Mobile Security Software System 79

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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.

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Community Bank Community Analysis Management 207

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

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Company Management National Exercises 92

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

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Conference Apple Bitcoin Maine 159

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.

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Mobile Meeting Innovation Management 81

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

Javelin Strategy & Research

MAY 7, 2015

I always circle the spring Finovate show on my calendar because it offers insight into the future of fintech. Inevitably, two questions get asked: First, which of these companies should be on the radar for bankers, investors, and consumers? Second – and this is my favorite part of the hobnobbing and side bets – which one of the startups will exhaust their oxygen and cash first?

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Trends San Jose User Experience System 64

Banking 2020

MAY 21, 2015

Banks and credit unions alike often find themselves wondering how they can further connect with their local communities. In this FI Highlight, Christopher McGill, president and CEO of East River Bank in Philadelphia, discusses how his bank’s marketing initiatives are helping to drive community engagement. In a few sentences, can you tell us a bit more about East River Bank?

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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.

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CFPB Monitor

MAY 12, 2015

Barbara S. Mishkin. In a complaint filed yesterday in a California federal court, the CFPB alleges that two related companies offering a biweekly mortgage payment program and their individual owner engaged in deceptive telemarketing acts or practices that violated the Telemarketing Sales Rule and abusive and deceptive acts or practices that violated the Consumer Financial Protection Act.

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Company Payments California Online 89

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