South State Correspondent

OCTOBER 29, 2015

It has been said that community banks are not doing enough to differentiate themselves and are not properly segmenting their markets.

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Community Bank Branding Community Marketing 290

Abrigo

OCTOBER 22, 2015

Banks and credit unions rely on their borrowers for updated information, which they in turn use to make accurate credit decisions. Financial statements, tax returns, collateral appraisals, rent rolls, loan agreements, economic data, credit reports, images, etc. all factor into credit decisions, making document and data management a big deal for bankers.

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Data Software Security Taxes 195

Celent Banking

OCTOBER 19, 2015

Singapore hosted Sibos this year, and judging by the reported 8,000 attendees, transaction banking is alive and well. That also means there were 8,000 different experiences, impressions and takeaways. Here are mine: Banks are fully aware of the threat of posed by technology and are beginning to act on it. Two technology vendors I spoke to said that every single bank they met with asked about blockchain, an extraordinary change from six months ago when it was only beginning to be seriously discus

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Accenture

OCTOBER 19, 2015

At last week’s panel session hosted by Accenture at Sibos 2015, six experts from different perspectives and regions shared their thoughts on real-time payments. Let’s start with the UK which is the gold standard for real-time payments. The emphasis on. Read more.

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Finer Points

OCTOBER 6, 2015

In an era of seemingly perpetual political gridlock, it’s important to pause on occasion to consider why we community bankers put so much effort into political advocacy. From our continuous and relentless regulatory relief efforts to our persistent support for fair and equitable oversight of credit unions and the Farm Credit System, community bankers certainly […].

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South State Correspondent

OCTOBER 7, 2015

Fresh off the 2015 ABA Marketing and Retail conference in Denver, we have a very long Evernote page of ideas, inspirations, thoughts and tactics. While we will highlight a few of the many banks from the conference that are making a difference in the coming weeks, today we wanted to do a quick recap of some of the trends and overarching lessons in case you were not able to make it.

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Abrigo

OCTOBER 30, 2015

With the recession fading into the more distant past, banks – in particular, community banks – have seen several years of loan growth. Banks, according to Comptroller of the Currency Thomas Curry, are starting to reach for additional growth by lending to less creditworthy borrowers, a move that increases risk to the institution. Speaking last week to the Exchequer Club , Curry said, “It’s the point in the cycle where we customarily see an easing of loan underwriting standards , as banks drop or

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Celent Banking

OCTOBER 12, 2015

This week I’m in Singapore, which provides a beautiful backdrop for Sibos 2015, the annual conference that brings together thousands of business leaders, decision makers and topic experts from a range of financial institutions, market infrastructures, multinational corporations and technology partners. This year’s conference theme is connect, debate and collaborate and takes place at a time of increasing headwinds from a slowing global economy, higher compliance costs, increasingly global corpor

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Accenture

OCTOBER 7, 2015

Change is non-negotiable for retail banks to thrive in the digital banking era. But meaningful change cannot happen without leaders who are willing to change too. This is especially true for the agile bank—a disruptive retail bank that is customer. Read more.

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Digital Banking Leadership How To Retail 163

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Analysis

Finer Points

OCTOBER 26, 2015

Congress is an intentionally deliberative body. It was structured by our founders to ensure collective participation in shaping government policy, and sometimes that allows certain factions to disrupt the legislative process purely for their own self-interest. Such is the case with the retail industry sidelining the debate over data security by resuscitating tired and largely […].

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Security Retail Data Policies 138

Jack Henry

OCTOBER 28, 2015

Author: Travis Smith, TrSmith@jackhenry.com.

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South State Correspondent

OCTOBER 21, 2015

Yesterday was the first anniversary of Apple Pay while the past 60 days saw the release of Android Pay and Samsung Pay. The strategic question comes up – which do you do if any? Before you answer that question ask yourself this one – how long do you want to be in business? Wait. Before you fire us off an angry email, we are not being flippant. It is important to understand your investment horizon, as if your bank plans on selling in the next five years, then why go through the cost and hassle of

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Abrigo

OCTOBER 28, 2015

A significant amount of planning is typically involved before most major events. For example, D-day, the most comprehensive invasion to ever take place, was planned and scheduled with extreme detail months before its execution on June 6, 1944. Likewise, accountants each year experience a tax season that requires detailed planning and precise execution.

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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.

Lending

Celent Banking

OCTOBER 23, 2015

We’re smack in the middle of conference season and the team has been traveling all over the world. We’ve been busy with Sibos and BAI (unfortunately held at exactly the same time), AFP , and next week, Money20/20. In only its fourth year this new conference had to move to a new venue so that it could avoid running afoul of the fire marshal. Given the excitement around the payments ecosystem, we think it will be an exhausting whirlwind of a week.

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Accenture

OCTOBER 26, 2015

Every industry is scrambling to capture Millennial mindshare, and retail banking is no exception. Consider the sheer numbers and earning power of 18 to 34 year olds. Millennials now officially outnumber Generation Xers in the US labor force, according to. Read more.

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CFPB Monitor

OCTOBER 20, 2015

Richard J. Andreano, Jr. In remarks yesterday at the Mortgage Bankers Association’s annual convention, CFPB Director Richard Cordray stated that the CFPB may need to look more closely at vendors of software and other tools used by lenders to comply with the TILA-RESPA Integrated Disclosure (TRID) rule which became effective on October 3. Director Cordray stated that he was “disturbed” by reports that such vendors were creating obstacles for lenders attempting to comply with the

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Jack Henry

OCTOBER 9, 2015

Author: Pat True, RTrue@profitstars.com.

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Lending 98

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Operations

South State Correspondent

OCTOBER 6, 2015

There was a time when the average community bank customer was the same age as the adult general population. Over time, due to the urbanization of America, immigration and lack of targeted marketing, this has changed. Now, the average community bank customer is more than 5 years older than the general population and increasing in age at a faster rate.

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Abrigo

OCTOBER 23, 2015

Some financial institutions consider stress testing the loan portfolio as one more regulatory issue to address, but that view is short-sighted, according to John P. Behringer, McGladrey’s national leader for credit risk services. Portfolio stress tests can provide a number of benefits beyond compliance with regulatory expectations, Behringer said recently at the 2015 Risk Management Summit hosted by Sageworks.

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Capital Analysis Examples Risk Management 150

Celent Banking

OCTOBER 21, 2015

Our friends at PaymentsUK have released their latest forecasts , the ever excellent UK Payments Market 2015. Whilst we don’t have a copy of the full report (hint, hint…), the press release does give us some interesting insights. For example, payments will hit 44 billion transactions a year by 2024. This is a net growth of 3.4 billion, which hides significant and continued declines in both cash and cheque usage (53% to 33%, and 1.1% to 0.4% respectively).

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Payments Examples Mobile Cards 153

Accenture

OCTOBER 21, 2015

Banks hoping to build a strong, reliable Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) approach should focus on a number of strategies and actions—including developing an efficient operating model. In our view, a good operating model is essential to. Read more.

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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

Cards

CFPB Monitor

OCTOBER 8, 2015

Richard J. Andreano, Jr. The residential mortgage settlement service industry has been asking the CFPB for guidance on the legality of marketing service agreements (MSAs) under RESPA. When questioned on the issue last week at a House Financial Services Committee hearing , Director Cordray indicated that the CFPB would issue guidance. One week later the CFPB has now issued non-binding guidance in the form of Bulletin 2015-05.

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Gonzobanker

OCTOBER 14, 2015

News flash! Customer experience should be best in class at most businesses in America this year. According to a 2010 Forrester study, 80% of companies would like to use it as a form of differentiation. If all of those five-year plans were developed and executed, then customer experience would only be noticed in the 20% that didn’t focus on it. I just got off the phone with my cell phone company, got a robo response from my bank and am fighting with an airline right now so I don’t think that prop

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South State Correspondent

OCTOBER 26, 2015

Let’s be honest, banks currently struggle turning themselves into sales organization. We know we can improve. The good news is that most bankers really care about the customer and strive to do the best by them. However, when it comes to understanding the sales process, there is much to be desired. Part of the issue is training bankers not to be sales people, but to be true financial advisors.

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Training 235

Abrigo

OCTOBER 21, 2015

The Federal Reserve announced it will hold a special information session later this month for accountants, consultants, auditors and others to learn more about the FASB’s forthcoming current expected credit loss model , or CECL. Steve Merriett, the Fed’s Chief Accountant, will lead the webinar discussion on Oct. 30 from 1 p.m. to 2:30 p.m. ET, the Fed said in an email notice.

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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