South State Correspondent
DECEMBER 21, 2015
To understand the point of this article, you are going to have to go out and purchase the two t-shirts in the picture. Both have the following selling points: “100% cotton,” “Ribbed crew neck,” and, get this for clarity – “short sleeves.” The one on the right will set you back about $3.16 and can be purchased at Target, JC Penny’s or wherever fine underwear is sold.
Accenture
DECEMBER 8, 2015
Pricing and rewards points are the top two incentives for consumers to increase their use of mobile payments according to our 2015 North America Consumer Digital Payments Survey. But incentives like these do not guarantee lasting customer loyalty for payment. Read more.
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Abrigo
DECEMBER 31, 2015
A favorite principle that financial advisors like to discuss is “compounding”: How saving a little now can help magnify your returns down the road as the interest or the investment gains multiply. This concept of compounding is appealing. After all, who doesn’t like to get back more than they put into something? Undoubtedly, many accounting firms providing periodic reviews of their marketing budgets seek ways to get more out of what they are investing in marketing.
Celent Banking
DECEMBER 17, 2015
A story on Finextra this week caught my eye. It’s a survey carried out by YouGuv on behalf of ACI Worldwide, with these headline stats. Of 2000 UK adults, the survey found that: 88% have no intention of switching bank accounts within the next 12 months. 82% never use mobile payment services such as PayM or PingIT during an average month, 59% never use mobile banking within this same time frame.
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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.
Finer Points
DECEMBER 18, 2015
Some might be surprised to learn that I’ve encountered circumstances so unbelievable I’ve been left speechless (hard to believe, I know), but last Thursday was one of those times. After years of meeting with the Financial Accounting Standards Board (FASB) to raise concerns about the harmful impact of its proposed accounting reforms on community banks, […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
South State Correspondent
DECEMBER 7, 2015
A couple months ago USAA rolled out their “Financial Readiness Score” and it represents a simple, but brilliant innovation that will have a major impact on customer profitability and engagement. The product taps into the “quantified self” movement, the same concept behind Fitbit and others, and is starting to get common in banking. While credit scores are common, this “readiness” score is an interactive framework that leads customers down a path in order to get them more prepared for the future
Accenture
DECEMBER 14, 2015
In my previous post about cyber risk, we talked about the pervasiveness of cyber risk. We recognized that most businesses will not be able to entirely prevent a breach—and should instead focus on resiliency, or “bounce-back-ability” in the face of. Read more.
Abrigo
DECEMBER 28, 2015
Let's assume, for the purpose of this article, that you are operating a successful valuation or accounting firm. Or, perhaps you're an M&A professional or business broker, but no matter the nature of your work, you have a cash flow positive, successful organization. Yet your work valuing businesses and advising owners has made you painfully aware that competition is always around the corner.
Celent Banking
DECEMBER 29, 2015
In previous blog posts regarding fintech in Latin America my position was, and remains, that one of the reasons for being behind is that it lacks of a “Silicon Valley” equivalent. Efforts to create a fintech ecosystem, as Finnovista is doing, become a good alternative to overcome the absence of a geographical pocket of innovation. Particularly consider the market fragmentation of Latin America comprised by 19 countries, some of which have 3M inhabitants to Brazil having +200M.
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Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment
Jack Henry
DECEMBER 9, 2015
Author: Jason Mayhall, JMayhall@profitstars.com. Wouldn’t it be frustrating if you went on vacation and had to take two weeks off just to arrive at your destination? Or if you had to wait two months to get the latest news from your favorite sports team? What about the childhood frustration of missing the airing of Rudolph the Red-Nosed Reindeer , knowing that you had to wait until next Christmas to watch it?
Insights on Business
DECEMBER 3, 2015
For years, the primary sources of information about customers for banks – indeed, for most industries – were databases of structured data that fit neatly into rows and columns. Think transactions, account opening and closings, different kinds of accounts (checking, savings, investment) and the amounts therein. It was easy to discern the who and the what within this structure.
South State Correspondent
DECEMBER 8, 2015
Last week we wrote a piece that the biggest threat facing banks is complacency around our traditional processes. Disruption threatens our industry at every turn and even within our industry there is a growing divide between large banks and community banks. Today, we highlight one such area as it an example of our point nicely and highlights the many problems that banks need to overcome in order to create a better process.
CFPB Monitor
DECEMBER 17, 2015
Matthew Smith and Richard J. Andreano, Jr. The CFPB’s Deputy Assistant Director for origination recently warned mortgage lenders of the four main examination priorities for 2016—loan originator compensation plans, the ability-to-repay rule, the TILA-RESPA Integrated Disclosures (TRID) rule , and marketing service agreements. Speaking at the California MBA Legal Issues Conference, Calvin Hagins indicated that CFPB examiners will spend a substantial amount of time evaluating loan compensation sche
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Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.
Abrigo
DECEMBER 23, 2015
By Adam Blitz, Principal and Consultant at GetBlitzed Solutions CPA’s can be invaluable. However, CPA’s often dive into accounting work that only meets the compliance requirements. It’s common knowledge that clients need tax returns or financial statements completed and submitted in a timely manner. It’s also well known that the information derived from these resources can be crucial in strengthening a client’s ability to reach their goals.
Independent Banker
DECEMBER 28, 2015
Highlighting some agency supervisory priorities for the upcoming year. By Tim Cook. The Office of the Comptroller of the Currency published its supervisory priority objectives for midsize and community banks for 2016. The document provides a general guidance of not only the supervisory priorities of the OCC but also a likely consensus of supervisory trends of other federal regulatory agencies.
Jack Henry
DECEMBER 23, 2015
Pat True, RTrue@profitstars.com. There is a formula which lights the path of every extraordinary performer, whether in the field of sports, sales or any other walk of life. It has to do with the old adage of being a “student of the game.” Today, when we hear that term, we think of individuals who have risen to the top in their field. A current example would be Peyton Manning.
Insights on Business
DECEMBER 10, 2015
Steamer Lane, which is named after the steam powered boats that motored past it in the 1930’s, serves as the epicenter of Santa Cruz surfing with its cool blue water from the Pacific. Standing at the beachfront of Steamer Lane, Karthik, an adroit surfer gazes the ocean for signs of high tide. The waves ebb as time flows and he starts to realize that the sun and the moon failed to proffer high tide churning gravity that day leaving him disappointed.
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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
South State Correspondent
DECEMBER 1, 2015
A couple of weeks ago we discussed how quantitative banks can win more loan business by going after the two ends of the credit spectrum(usually Grade 2 and Grade 5 loans) that most community banks misprice ( HERE ). In that article, we show how banks that utilize a credit model have a distinct advantage against banks that don’t leverage a model particularly vulnerable in losing high-quality (Grade 2-type) borrowers.
CFPB Monitor
DECEMBER 21, 2015
Barbara S. Mishkin. The CFPB has announced annual adjustments to two asset-size exemption thresholds. First, the CFPB is making no change to the asset-size exemption threshold under HMDA/Regulation C which is currently set at $44 million. Banks, savings associations, and credit unions with assets at or below $44 million as of December 31, 2015 will continue to be exempt from collecting HMDA data in 2016.
ZootBlog
DECEMBER 14, 2015
As we approach the New Year, industry analysts and financial experts are rushing to publish their predictions for 2016. Before fixing our gaze entirely on the future, let’s review the trends that dramatically affected the financial industry in the past calendar year. Learning how to harness big data and make it useful, complying with EMV, and understanding the impact of mobile wallets and disruptive competitors were just a few that made headlines.
Independent Banker
DECEMBER 28, 2015
Outsized regulation shapes the business climate and decisions. By Denise Logeland. Far more than any other issue, regulatory compliance is the biggest challenge community bankers experienced in 2015, with 43 percent naming it as such in ICBA’s State of the Community Banking Industry survey. Similarly, the largest share of community bank executives whom ICBA surveyed, 43 percent, have pegged their compliance spending at 5 to 10 percent of their annual revenues.
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.
Jack Henry
DECEMBER 16, 2015
Author: Jennie Ebbing, JEbbing@jackhenry.com. I don’t know about you, but I go on auto-pilot when I’m in a place that I visit regularly. A good example is my local grocery store. I go there with a list of things that I need, and I usually know just where to find them. Sure, the store is showing its age, and maybe the bakery doesn’t offer much, but it’s my store!
Insights on Business
DECEMBER 22, 2015
This past Thursday The Linux Foundation, IBM and several major Banks and Tech firms made an exciting Blockchain announcement. The Open Ledger Project , as it is known, will be looked back on as a pivotal moment in time. The most important driver behind this initiative is making Blockchain real for business … developing the technology as fast and securely as possible to allow industry to realize the huge potential that Blockchain and shared ledger technology can have.
South State Correspondent
DECEMBER 9, 2015
If there is one thing we can all improve on its customer service. While the industry as a whole continues to show top ranking for satisfaction among all customers, the dispersion within the industry is getting wider. According to Gallup polls, the banking industry ranks near the top of all businesses in the country for customer satisfaction along with pharmacies.
CFPB Monitor
DECEMBER 17, 2015
John L. Culhane, Jr. Earlier this week, the CFPB released its sixth annual report on college credit card agreements, together with a new toolkit for schools to use when considering potential co-sponsorships of financial accounts, such as prepaid or checking accounts. The CFPB also announced that it sent warning letters to 17 schools regarding their compliance with the CARD Act requirement to publicly disclose their credit card marketing agreements.
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.
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