Accenture
MAY 5, 2022
Before making a big investment (of both money and effort) in their journey to cloud, most banks want to know what kind of return they’ll get on that investment. Is there a solid business case for moving to cloud? I discuss the areas that see the best return on investment (ROI) from cloud with Keri…. The post 3 ways banks can get great ROI from the cloud appeared first on Accenture Banking Blog.
Abrigo
MAY 5, 2022
Podcasts for Bank & Credit Union Execs & Staff Are Plentiful; Here Are 10 Good Ones These banking podcasts discuss current events, strategic and policy issues, competition, digitalization advice, and more. And all release a new episode at least monthly. Would you like other articles like this in your inbox? Takeaway 1 An estimated 38% of Americans 12 and older listen to at least one podcast each month, .
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Independent Banker
APRIL 30, 2022
Ashley Horner (right), senior vice president and SBA loan administrator, shown with portfolio manager Melanie Elmore, says Summit Bank is on track to make $30 million in SBA loans this year. Photo: Jon Christopher Meyers. Loan providers share an infectious enthusiasm and growing optimism for one vertical’s prospects in 2022: commercial lending. Here’s how community bankers can take advantage of various sectors—including SBA lending—over the next 12 months.
Perficient
MAY 2, 2022
Last week, we introduced our blog series on insurance commerce. We discussed the need to consider all the commerce activities that take place before the customer engages in a purchase. First, You’ll Need a Strategy. There are many versions of the famous quote that says, “Strategy without execution is a dream, and execution without strategy is a nightmare,” but the intent is clear – a sound strategy is required to achieve expected results.
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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.
Payments Dive
MAY 6, 2022
In the cannabis business, federal illegality has kept many banks and payments companies on the sidelines. That's opened the door for young companies that are using the ACH network to facilitate cannabis payments in states where it’s been legalized.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
MAY 2, 2022
Confident Risk Management Begins with Sound Loan Policy A risk-based approach to loan policy can effectively improve your institution's profitability. You might also like this webinar on loan policy best practices. WATCH. Takeaway 1 Loan policy is the foundation of a risk-focused financial institution, and it requires regular updates and monitoring to be effective.
Perficient
MAY 5, 2022
While it was once expected and acceptable for lenders to enforce standardized payment due dates and policies, COVID-19 brought the impracticality and ineffectiveness of a “one-size-fits-all” approach to credit and lending to light. Two-plus years later, banks and credit unions continue to feel the pressure to transform their credit and lending operations.
Payments Dive
MAY 2, 2022
"We urge Director Rohit Chopra to update the CFPB’s outdated remittance rule and take on the high cost of international payments," the Financial Technology Association says in this op-ed piece.
South State Correspondent
MAY 4, 2022
Market Awaits FOMC Decision and Powell’s Comments. It’s not so much the 50bps rate hike we expect from the Fed this afternoon, but how Powell frames expectations for the meetings to come that will be the focus for investors. That will have to come mostly in the post-meeting press conference since we won’t see refreshed economic or rate forecasts until the June meeting.
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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
Independent Banker
APRIL 30, 2022
By Lindsay LaNore, ICBA. Karen Thomas. This year, after almost 30 years at ICBA, Karen Thomas is retiring. As the leader of our government relations and advocacy team, she has built an exceptional legacy and garnered industrywide admiration for the depth of her knowledge and her remarkable humility. As her departure approaches, we sat down to discuss her path to leadership and her advice to others.
Perficient
MAY 6, 2022
According to industry research, 73% of all people point to customer experience as an important factor in their purchasing decisions. Moreover, customers in the financial services industry are increasingly interested in using their go-to firm to cover more of their needs, rather than using multiple providers. To meet the needs of their customers, banks are creating a plethora of new products and services.
Payments Dive
MAY 4, 2022
Consumers may "not understand that funds kept in digital wallets or by payment apps may not be insured and protected to the same degree as their bank accounts,” a congressional report says.
South State Correspondent
MAY 2, 2022
Most banks think in terms of linear growth. As a result, bankers love the idea of a sales funnel – put enough prospects at the top of the funnel, and a certain number of customers will fall out the bottom. Add more resources, and you get more customers. It is easy to understand. Unfortunately, there are many problems with sales funnels, and in this article, we will show why banks should be thinking in terms of “Growth Loops” instead.
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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.
Independent Banker
APRIL 30, 2022
Illustration by Eight Hour Day. Independent Banker’s annual listing top-performing community banks of 2021 alongside interviews with some of the winners. In true community bank fashion, each has its own story to tell and its own path to success. By Molly Bennett, with contributions from William Atkinson, Ed Avis, and Colleen Morrison. What fits one does not fit all.
CFPB Monitor
MAY 5, 2022
We discuss the industries and practices that have been the subject of recent FTC enforcement focus, including: marketing, servicing, and collection practices involving small business financing such as merchant cash advances; auto add-on product sales practices; product endorsements and reviews; dark patterns; marketing practices of for-profit schools; lead generation; and COVID-related fraud.
Payments Dive
MAY 3, 2022
Buy now-pay later providers are having to pay a hefty price to keep up with surging consumer demand for their financing services, spending large sums to add new technology and more employees. As a result, their expenses are rising at a much faster rate than their revenue, meaning most of the major players are posting losses despite the BNPL mania.
South State Correspondent
MAY 2, 2022
This Week Should Provide Some Key Answers for Investors. By the time we get to the weekend, we should have a lot more information in hand in regards to both the economy, the labor market, and monetary policy. The FOMC meeting’s rate decision on Wednesday is the highlight of the week, and the question is not so much the hike itself that day but how hawkish the Fed will be which will guide investors’ expectations for hikes to come.
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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
Independent Banker
APRIL 30, 2022
Photo by Chris Williams. Focusing on the ‘whys’ helps employees see how decisions fit together in a perfect puzzle for high-performing success, and it motivates them to be contributors to that success. In community banking, we’re not ones to rest on our laurels. We’re always raising the bar for ourselves, our teams and our communities to ensure we provide the best possible services to our customers.
CFPB Monitor
MAY 4, 2022
Connecticut is the next in a growing list of states to pass comprehensive data privacy legislation. Last Friday, the Connecticut legislature passed, by large margins, Senate Bill 6 — which we are referring to as the Connecticut Data Privacy Act (CTDPA). The law now awaits the Governor’s signature. The CTDPA follows the form and content of other privacy laws passed in the prior year, including the Colorado Privacy Act (CPA), Virginia Consumer Data Protection Act (VCDPA), and Utah Privacy Act
Payments Dive
MAY 5, 2022
Sen. Dick Durbin pushed for a handful of reforms of credit card fee practices at Wednesday's Senate Judiciary Committee hearing on "excessive swipe fees," but didn't offer plans for new legislation. He also questioned Visa and Mastercard representatives about recent fee increases and took testimony from consumer advocates who slammed the hikes.
South State Correspondent
APRIL 30, 2022
Based on the futures market, the Federal Reserve is expected to raise the Fed Funds rate to 3.00% at its December 2022 meeting. The Fed will also aggressively shrink its balance sheet to tame unwanted inflation. These two Fed moves, along with the economic environment and customer behavior will impact your forecasting of your cost of funds. In this article, we analyze the industry’s cost of funding earning assets (COF) and track how community banks’ COF behaves relative to larger banks.
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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.
Independent Banker
APRIL 30, 2022
Plumas Bank CEO and delegate for ICBA’s Federal Delegate Board Andrew Ryback (right) assesses the Dixie Fire’s damage to downtown Greenville, Calif., with Donavon Beatty from Beatty Construction. Photos courtesy Plumas Bank. In the wake of the devastating Dixie Fire in northeastern California, Plumas Bank partnered with a local community foundation, forming the Dixie Fire Fund with a $50,000 bank donation.
SWBC's LenderHub
MAY 2, 2022
Last Week. It is hard to imagine anybody went home for the weekend happy. The rout in both the equity markets and the bond market continues to pick up intensity. Global inflation continues to build as the supply of just about everything needed to make the world clothed, sheltered, and fed is experiencing major problems.
Payments Dive
MAY 5, 2022
Employers with a Grubhub Corporate Account can set parameters on when workers can use the pay card or choose to give them a daily or weekly credit to use when ordering from partner restaurants on the delivery marketplace.
CFPB Monitor
MAY 3, 2022
On April 28, 2022 the New York Department of Financial Services (“NYDFS”) issued its Guidance on Use of Blockchain Analytics , a document directed to all virtual currency business entities that either have a NYDFS Bitlicense or are chartered as a limited purpose trust company under the New York Banking Law. The Guidance emphasizes “the importance of blockchain analytics to effective policies, processes, and procedures, including, for example, those relating to customer due diligence, transacti
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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se
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