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I had a few wake up calls in my years of working in financial services, and a couple of key ones gave me an insight into the mentality of major financial firms that have stayed pretty true ever since. The first was working with a major bank on a process re-engineering project.
Y Combinator’s Winter 2016 Demo Days just wrapped up, with 159 startups taking the stage and making their play for funding. Just under 10% of the companies — 15 to be exact — were fintech-related. This is about average for a YC incubator class, with the 26% from Summer 2015 being an Read More.
We always like to look back and see where underwriting and credit accuracy can be improved. Recently, we looked at almost 5,000 commercial real estate (CRE) loans from across the country that was underwritten in 2012. We looked at the property level cash flow projections to include revenue, expenses and net operating income (NOI) and then compared that to what has actually happened over the last 3 years.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
A self-service revolution is sweeping retail banking. But who are the real winners—banks or customers? This new level of banking self-service is a reality thanks to digital technologies. Self-service channels including online and mobile banking options, interactive screens and remote. Read more.
It’s something ICBA and the community banking industry say all the time: community banks are the nation’s leading small-business lenders. And the numbers back it up. While community banks make up less than 20 percent of the banking system’s assets, they dole out more than half of its small-business loans. Still, some small businesses continue […].
It’s something ICBA and the community banking industry say all the time: community banks are the nation’s leading small-business lenders. And the numbers back it up. While community banks make up less than 20 percent of the banking system’s assets, they dole out more than half of its small-business loans. Still, some small businesses continue […].
There are a number of hotbeds for innovation in finance – London, Singapore, Tel Aviv, Silicon Valley – may all spring to mind to begin with … but what about Berlin and Munich? Yes, Berlin is showing some interesting true colours with three standout start-ups: Fidor, NUMBER26 and solaris.
Millennials hate credit — but a new service called Lenny is out to change that. Lenny is meant for mobile (of course) and launched today in California. It will reach Texas, Florida and New York in the next 10 to 12 months, according to the company, which claims that, in less than three Read More.
Michelle Evans, digital consumer manager for Euromonitor International, examines the impact social media platforms have on commerce, specifically in the Asia-Pacific region.
We are in agreement with the ICBA that FASB’s proposed current expected credit loss (CECL) model would place tremendous costs and regulatory burdens on community banks. We also agree that CECL, as proposed, will increase reserves and negatively impact many community banks’ ability to lend and support economic growth through lending. However, it does not appear that the current proposal will be modified for banks under $10B in assets.
AI adoption is reshaping sales and marketing. But is it delivering real results? We surveyed 1,000+ GTM professionals to find out. The data is clear: AI users report 47% higher productivity and an average of 12 hours saved per week. But leaders say mainstream AI tools still fall short on accuracy and business impact. Download the full report today to see how AI is being used — and where go-to-market professionals think there are gaps and opportunities.
Banks are relying more and more upon Big Data and analytics to transform their distribution and marketing strategies. In our research into how high-performing companies (those that deliver above-average business performance on a consistent basis) approach analytics, we found that. Read more.
In today’s banking environment, there is strong pressure for banks and credit unions to grow the portfolio profitably. With more competition, institutions are lending in new areas, adjusting underwriting standards and seeking to grow via mergers and acquisitions. Despite the pressure, banks and credit unions must remain diligent across departments to ensure policies and procedures are in place – and followed – by everyone.
ValueWeb: How FinTech firms are using bitcoin blockchain and mobile technologies to create the Internet of Value After months of writing and editing, I’m delighted to say that my new book ValueWeb is now available.
Payments startup Movo wants to convert every mobile device into a card-issuing bank. Bank Innovation has learned that the Palo Alto, Calif.-based company raised a seed round of $700,000 on Jan. 31 and plans to launch next quarter. The Movo platform will use prepaid funds to issue payment tokens called Movo Cash Read More.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Lahary Ravuri, group manager of product marketing and strategy for Adobe Systems, examines how FIs can use mobile to improve their client interactions and build loyalty.
The number one reason that banks struggle to grow their commercial business is their relationship managers don’t have enough time. Credit memos, compliance, administration and a whole host of other tasks take up the day leaving very little time to bundle a steady pipeline of profitable accounts. However, next to streamlining your calling officer’s day, the next largest impediment to prospecting is the lack of knowledge.
According to UK Cabinet Office figures there are in the region of 5.4 million small and medium-sized enterprises (SMEs) in the UK. They represent approximately 60% of employment and roughly 50% of total private business turnover. Their banking business is. Read more.
A recent survey by Sageworks found that U.S. bankers expect to lend more to businesses in 2016, and as they expand their commercial lending, some financial institutions may seek to better manage their loan portfolios and lending-related risks using loan portfolio management software. Sageworks has a new guide for evaluating loan portfolio software to help banks and credit unions as they weigh various options.
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.
Flying back from Oslo after the SWIFT Nordics Conference, I was reflecting on the blockchain discussion we had. I chaired the discussion which was titled: “Blockchain: from hype to real world applications” and was joined by Vytautas Karalevicius from Spectro Finance, Lasse Meholm of Nordea and Colin Kwan from Magnr.
This week, we have a group of startups united in their mutual conviction that 20-and-younger-somethings need not leave their financial situation to the vicissitudes of an indifferent fate. Starting from the macro and moving to the micro, today’s list takes us on a journey beginning with the plight of the genius-quant, Read More.
Square announced Wednesday as part of its first earnings report as a public company that it had received over 350,000 preorders for the company's new EMV-enabled contactless reader.
There are a handful of banks in this nation that really know their small business or commercial customer. They say they are about service and they actually walk the walk. They deliver superior service compared to the competition and they put the customer in the middle of everything they do.
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.
Last month I sat down with my family to go through our wish list in searching for a new home. We listed the usual criteria such as location (proximity to school), size (add more space for a study room or. Read more.
Like most marketplaces, accounting firms look to the most successful firms to identify ways that they can grow. Another reason accountants look to more developed firms is to discover, “Are we heading in the right direction? Are we putting resources where they need to be put?” Observing the practices and benchmarks of successful firms within the industry can create a sense of confidence and vision for partners.
I’ve been illustrating my frustration with incumbent banks for some time, saying that they lack technology leadership. Almost a third of my new book talks about the biggest challenge for banks to respond to Fintech, Big Data, Cloud, Blockchain and all those other issues is to have leadership.
At one point in every taxi-driver’s vocational life, there is a moment when a particularly ungrateful fare makes the driver pine for payday, and ask why me? as they calmly circumnavigate the passenger’s quotidian woes. Today, Uber and Green Dot Corporation (NYSE: GDOT) announced a new version of GoBank mobile checking account Read More.
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
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