South State Correspondent
JANUARY 25, 2016
If you are a bank that believes delivering superior service is a function of being friendly and knowing your customers, then likely your bank lacks a strategic advantage. To truly deliver differntiating customer service, you not only have to find customers that care about banking and their financial future, but your bankers need to care more about your customer’s future than they do.
Finer Points
JANUARY 6, 2016
Welcome to 2016, community bankers! We had a prolific year of advocacy in 2015, and I want to thank all of you for doing your part. ICBA is again primed and ready to hit the ground running in Washington on a number of fronts. But we can’t forget that diligence alone will not ensure another […].
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Accenture
JANUARY 19, 2016
Innovation and the digital revolution are helping bring needed services to people who have previously not had access to banks. In a report developed with Care International UK, Accenture estimates that the market for those who are un- or under-banked. Read more.
Abrigo
JANUARY 29, 2016
Financial institutions that structure and optimize pricing for loans are able to make sure they are adequately compensated for the risk they are taking. Instead of pricing loans based on a “gut feel” or a request to match or beat competitors’ rates, institutions that utilize loan-pricing models incorporate a more methodical approach. Benefits of loan pricing This methodical approach can help ensure the best loan and terms are matched to the borrower so that the financial institution makes the sa
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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.
South State Correspondent
JANUARY 21, 2016
If you want to change the face of your bank, one of the fastest ways to do it is by changing the compensation structure.
Insights on Business
JANUARY 25, 2016
What do you think will happen in 2016? Here are my top 10 payments predictions: # 1 Wallet Wars. Clarity around who will dominate the wallet market becomes cloudy. # 2 Apple loses its shine. Initial Apple Wallet momentum slows. Competition fights back with alternatives. # 3 Banks fight back. The demise of banks is greatly overstated. Banks get smart and start investing in their future. # 4 Blockchain.
Accenture
JANUARY 8, 2016
Some big themes dominate Payments today, and each is likely to endure for many years. Sibos 2015 in Singapore brought them into sharp focus – specifically: Big Data Analytics, Cyber-security, Bank & FinTech Hubs, Cryptocurrencies/Blockchain Technology, Trade Finance and APIs. Read more.
Abrigo
JANUARY 28, 2016
The following is an excerpt from the Sageworks whitepaper "Optimizing Capital: Challenges and Opportunities for Financial Institutions". Serving customers and helping them achieve their financial goals are often identified by bank and credit union executives as their organizations’ top objectives. Whether it is Wells Fargo (with $1.6 trillion in assets and thousands of employees) or tiny Oakwood State Bank in Texas (with $6.5 million and two employees), financial institutions understand the impo
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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.
CFPB Monitor
JANUARY 13, 2016
Barbara S. Mishkin. In an effort to publicize its online complaint system and bring in more complaints, the CFPB is now soliciting complaints through Internet advertising. When browsing the Internet recently, we came across the following which appeared to be a Google ad placed by the CFPB: The ad links to the “Submit a complaint” page on the CFPB’s website.
Celent Banking
JANUARY 28, 2016
The question in the title of this post has become a rather hot topic lately. Earlier this week, I was kindly invited to join the panel on “what’s hot in Fintech” at Citi’s Digital Money Symposium, and it was one of the central questions we debated as a group. My colleague Stephen Greer has also discussed Bank-Fintech relationships on these very pages, for example, see here and here.
South State Correspondent
JANUARY 4, 2016
The truth is that your bank should discuss balance sheet rebalancing every time credit spreads or rates are expected to materially change, any time the risk tolerance of the bank changes or at least once per year. 2016 just happens to coincide with the start of a rising interest rate cycle so now is the perfect time to have that conversation with your board and management team if you haven’t done so already.
Insights on Business
JANUARY 22, 2016
Digital forces are transforming industries beyond recognition. Big data, mobility, social media and cloud computing are changing the way people live, work and think – and forcing banks to develop new strategies to meet ever-shifting customer expectations. Time is of the essence. Today’s banks face fierce competition from start-ups, fin-techs and more.
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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.
Accenture
JANUARY 13, 2016
A bank’s core banking system is the underlying engine that drives and supports its key activities. It’s such an embedded and integral part of any bank that there might be a temptation to take it for granted. This would be. Read more.
Abrigo
JANUARY 27, 2016
By Jeff Borschowa Author, Freelance Writer, Speaker, Growth Specialist at Dream Practice Possible Errors Accounting is a risky business. Many accountants I know, myself included, worry about what could happen if we were to be sued. The sad reality is that accounting professionals are a target and are at risk for malpractice lawsuits. If we are conducting audit and review engagements, there is a real risk that an accountant may: • Fail to notice suspicious activity • Miss signs of fraud • Misinte
CFPB Monitor
JANUARY 7, 2016
Barbara S. Mishkin. Senator Sherrod Brown, ranking member of the Senate Banking Committee, has sent a letter to President Obama that asks the President to prioritize funding in his FY 2017 budget proposal for programs in Title XII of the Dodd-Frank Act that are intended to assist lower income borrowers. Title XII has not yet been implemented. The programs authorized by Sections 1205 and 1206 of Title XII provide federal grants and other financial support to “eligible entities” to en
Celent Banking
JANUARY 25, 2016
Only a couple years ago, as mobile banking was growing rapidly, and the conversation around development strategies was at its height, tablets played a prominent role in channel strategies at the largest and most digitally mature institutions. The consumer interest in tablets over the last year or two, however, has plateaued—even waned. Tablet is nowhere near dead, but sales have started to level off.
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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.
South State Correspondent
JANUARY 6, 2016
On Monday, we made the comment that when the Fed Funds rate goes up (and hence the Prime rate), loan quality usually improves during the short run. Some of you wanted to see proof of this, as the notion is counterintuitive as higher rates usually place strain on debt service coverage for floating rate loans. Today we present the empirical data as well as an explanation on how rates and credit risk is correlated.
Insights on Business
JANUARY 12, 2016
All companies, especially financial services firms , segment their customers to fine-tune their marketing based on unique circumstances. For example, a couple considering purchasing their first house has different needs than a couple saving for retirement. But that’s a pretty wide segment, and there can be a lot of variations within those groups. How do you go deeper into those segments to give customers more personalized service?
Accenture
JANUARY 7, 2016
These are exciting times in the banking industry. We are seeing an acceleration of innovation on many fronts, and particularly in marketing and distribution. We saw examples of this on display at the third annual Global Distribution & Marketing Innovation. Read more.
Abrigo
JANUARY 25, 2016
The following is an excerpt from the Sageworks whitepaper "How Routine Client Meetings Could Fuel a Business Valuation Practice". Routine meetings with business clients, such as those ahead of or after tax season, tend to cover housekeeping items related to preparing financial statements, tax payments or tax returns. These routine customer touches provide rich opportunities to generate new engagements that help spread the workload throughout the upcoming year.
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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
ZootBlog
JANUARY 7, 2016
Consumers’ use of technology—from mobile to wearables—is driving change across many industries as businesses adapt to how their customers want to engage with them. For some time now, financial institutions (FIs) have responded to this consumer-driven environment with innovation in business models, operations, and IT. Cloud computing, a model of computer use in which services stored on the internet are provided to users on a temporary basis, is finding its way back into financial industry convers
Celent Banking
JANUARY 19, 2016
Many large financial institutions spent in excess of $25 million on rolling out failed enterprise risk management frameworks during the 2000’s. So why try again? Well for many obvious reasons, the most notable of which has been the large scale failure of institutions to manage their risks and the well-editorialized consequences of those failures. The scale of fines for misconduct across financial services is staggering and damage to the banking industry’s reputation will be long-lasting.
South State Correspondent
JANUARY 27, 2016
Having more bankers to throw at a borrower or more assets to flaunt does not make a bank more effective. Strategy beats size every time, but bankers need to be smart how to position themselves against large banks. When it comes to loan mix, community banks need to be careful to assemble their assets with enterprise risk in mind. In particular, the increase in commercial real estate (CRE) and specifically, High Volatility Commercial Real Estate (HVCRE) is starting to be a concern.
CFPB Monitor
JANUARY 19, 2016
Steven D. Burt. On January 11, Elena Babinecz, a CFPB attorney, spoke as part of a panel relating to the revised HMDA rule at the Winter Meeting of the Consumer Financial Services Committee of the Business Law Section of the American Bar Association. Ms. Babinecz confirmed that the CFPB is engaged in a follow-up policymaking process to allow the public to provide input on privacy concerns relating to new data that those subject to HMDA’s reporting requirements are required to collect, rec
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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