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'Lately there has been much fanfare around wearables. From Google Glass to smartwatches, there has been no shortage of press releases, articles and hype surrounding these devices. I must say that I personally find all of this stuff amazingly cool, and love trying out new things. I am also super excited about the Moto 360 smartwatch and will likely pick one up when it launches.
'Before I was ever a community banker, I was a cadet at the Virginia Military Institute and an officer in the U.S. Army. One of the core principles instilled in me during my military training was the importance of never giving up ground—of always looking for opportunities to take ground from the enemy. Well, in […].
'428 Reasons Digitally Engaged Customers Matter Hint: Each reason is a percent If an average 428 percent increase in fee income is small potatoes to your bank, you can skip this article and my breakout session at next month’s ABA Marketing and Retail Conference. I won’t be offended. After all, the other breakout [.
'Author: Danny Payne, DanPayne@jackhenry.com. The community banks and credit unions have always been fighting “the good fight” for customers/members. Providing a viable online and mobile solution has been the recent focus for most FIs fighting to compete. These banks and credit unions are competing against the Chases and Bank of Americas of the world.
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.
'If information is the new currency, why don’t we treat it as such? For decades banks built layers of dual control checks and balances for staff that handle the Benjamins. We have paid couriers millions to move bags of greenbacks between branches. Yet now that information has supplanted the almighty dollar as the critical factor for achieving a competitive advantage, we apparently could care less as we watch this new digital currency fall from the back of the armored truck and blow down the info
'My firm will occasionally provide feedback on correspondence to our clients'' regulators. Today we did just that. Our advice: don''t come off as combative. Since hitting send on that e-mail, I reflected on how a half Italian, half Irish firebrand like myself became so melancholy. Truth is, I haven''t. I thought about what we should have said to the regulator, versus the sweet words I was encouraging our client to use.
'My firm will occasionally provide feedback on correspondence to our clients'' regulators. Today we did just that. Our advice: don''t come off as combative. Since hitting send on that e-mail, I reflected on how a half Italian, half Irish firebrand like myself became so melancholy. Truth is, I haven''t. I thought about what we should have said to the regulator, versus the sweet words I was encouraging our client to use.
'Our humanity, as individuals and as consumers, continues to fascinate me, particularly as it relates to our irrationality. My dad would drive miles out of his way to save 2 cents per gallon of gas, just for the principle of it (whatever that principle was!). Behavioral economists, of course, have been onto this for years. For some accessible perspectives on the subject, try one of the following: Thinking, Fast and Slow, Kahneman, 2011.
'Whether it is Bank of Queensland with their Hipster Branch launch, Citi’s famedApple-Store Branches, NAB’s Crowd concept, Unicredit “Branch of the Future” in Italy and Bulgaria, PNC’s Tellerless Branches, smaller regional players likeSouth Shore Bank and ConestogaBankWerx, or the launch of Video-Interactive Teller’s for TEB, Ion Bank, Banca Popolare and others, we seem to be hearing about new ‘Branches of the Future’ constantly. […].
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'Author: Clarke Farmer, CFarmer@ProfitStars.com. My family recently vacationed in the mountains. The highlight of the trip was our hike to the summit of Wheeler Peak near Taos, NM. As you know, a stroll up to 13,161 feet can become quite dangerous in July if one lingers too long to enjoy the view. It didn’t seem to matter how prepared we were for the hazards of the journey, I still couldn’t get my wife and kids down that mountain fast enough when the afternoon storms started brewing.
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.
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'Bankers and Credit Union executives and Board members, be careful when limiting your choices for your next leaders. Because you might get what you asked for. What traits and experience do you think equates to success? ~ Jeff YouTube link in case you can''t view on your device. https://www.youtube.com/watch?v=weOl8ceXHzg.
'Innovation is global. This isn’t too revolutionary of an idea, neither is it new nor original. Yet, increasingly, conversations with banks, especially in the US, reveal that many institutions aren’t looking too far outside of their market, let alone their vertical, industry, or country, for inspiration on how to innovate. In effect, this is giving an outsized impression by bankers of innovation in banking.
'The expansion of social media in the workplace and for personal use has made it vital for financial institutions to include a specific social media policy within its policies and procedures. In the past it was easier to manage social media use by restricting access to sites on company systems, but smart phones and the acceptance of using social media in marketing communications has changed the landscape.
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.
'Musts for launching digital banking services Hint: Be a marketer This is the second of three sneak peeks at some of the points I’ll cover in my presentation at next month’s ABA Marketing and Retail Conference. Note that I said “some of the points.” For the whole shebang, I hope you’ll join [.
'Author: Barbara Vega, BVega@profitstars.com. The advent of the Check 21 Act in 2004 spawned the growth and popularity of remote deposit capture. Initial offerings existed with branch capture, then the expansion to large and medium commercial customers. Remote deposit use has grown quite rapidly. Roughly 62 percent of banks in the United States offered merchant remote deposit in 2009 and nearly 90 percent have adopted the technology today.
'Safaricom, the mobile money market leader with M-Pesa with 19 million customers has partnerships with 30 banks and 160 financial institutions as per their 2014 annual report that notes The new (API) platform (launched in January 2014) helped streamline operations for businesses that disburse staff salaries through M-PESA, as well as those that receive payments through M-PESA and need to move cash to their bank accounts on a regular basis. .
'Bank Investment Consultant magazine recently published the results of a bank/credit union investment sales benchmarking report from Kehrer Bielan Research and Consulting. The report, as cited in the article , (via @CUInsight) stated credit union investment revenues equated to $360 per million in share deposits, and that number was 21% greater than in banks, implying bank reps achieve $298 per million in deposits.
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'(Part 2 of a 3 in a series). The best organizations are encouraging and rewarding their customers for helping them to build their brands. In essence, the ecstatic (not merely satisfied) customers are becoming unofficial employees and very official brand ambassadors for the companies. How can you create that dynamic at your organization? Here are 3 suggestions: Generate & maintain enthusiasm – this doesn’t only go for your employees.
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'Social Media is no longer a person nor is it a department. In a time where branches are closing and many banks are moving to become more centralized, social media is decentralizing. This year’s ABA conference in Florida holds an opportunity for bank marketers to to realize the impact of a growing movement of creating enterprise-wide social strategy.
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.
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'While a colleague and I sat patiently waiting for our flight, we were discussing an upcoming strategic planning session with a client. He asked what I thought were their chances of success. I thought their future was bright, but pointed to a couple of headwinds working against them. One of them was the law of large numbers. The law of large numbers in banking requires ever more asset generation as the bank becomes larger to sustain growth.
'Part 1 of 3 in a series. Isn’t marketing about colors, and paper, and design? Perhaps. But it has to be much more than that now. That’s why your organization’s marketing executives and employees need to be smarter, innovative, and strategic. If all you have is a marketing person that either can’t do or is unwilling to do much more than design pretty flyers (and Heaven help you if you’re still taping things to doors and walls,) then it’s time to get someone that has the required skills to bring
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