Independent Banker

JULY 31, 2022

Illustration by miakievy/iStock. The Social Bankers, a collective of community bank marketers, offers inspiration, information and professional development advice to community bankers focused on marketing and social media. We asked them for their need-to-know social tips. By Julie Kendrick. While so many things about banking have changed in recent years, social media continues to grow in its impact on prospects, customers and employees.

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social media Trends Community Groups 224

SWBC's LenderHub

AUGUST 4, 2022

While there has been discussion for months about the possibility of recession late this year or early next, until early July, this was far from certain. However, recent higher inflation data and monetary policy action has made the probability of recession exceed 90%. The only questions now are when it will start, how long it will last, and how severe it will be.

Policies 78

Policies Data Lending 78

Accenture

AUGUST 3, 2022

Muscle memory is the enemy of innovation. When it comes to transformations, process optimization is often under-valued by auto and equipment finance organizations as they implement a modern core or move their data and applications to the cloud. Adam Little and I think that’s a mistake. You must let go of old habits and challenge…. The post How old habits are the 4-letter word in your growth progress appeared first on Accenture Banking Blog.

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Innovation Data System 507

Payments Dive

AUGUST 2, 2022

American Express cited data indicating nearly two-thirds of small and mid-sized business owners expect increases in their cross-border spending over the next six months.

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Tools Payments Data 456

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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.

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Perficient

AUGUST 1, 2022

Salesforce has launched a cloud-based service for the sale and creation of non-fungible tokens (NFTs). The first version of NFT Cloud was released in a limited pilot in mid-June at the Salesforce Connections conference in Chicago. Later this year, anticipated to be in October, Salesforce will make the product available to the public. This product represents Salesforce’s initial entry into blockchain technology.

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Accenture

AUGUST 2, 2022

Flat economic growth and rising competition are forcing banks in growth markets to step up investment in digital technologies. They’re eager to improve efficiency, enhance the user experience and create new business opportunities. But many banks are wary of committing themselves to an extensive digital transformation of their businesses. They view such large-scale change as….

Marketing 491

Marketing User Experience Technology Digital Banking 491

Payments Dive

AUGUST 5, 2022

Amid macroeconomic pressures, FIS, PayPal, MoneyGram and Shift4 all appointed new CFOs this week. The trend may also mean they’re paying more for them.

Company 455

Company Trends Payments 455

Abrigo

AUGUST 1, 2022

Best practices for assessing models and managing risk Sound model development, implementation, use, and validation is especially important as CECL models debut. . Would you like other articles like this in your inbox? Takeaway 1 Models are relied upon to answer financial reporting and decision-making questions, including CECL reporting and budgeting.

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Risk Management Management Regulation Analysis 195

South State Correspondent

AUGUST 3, 2022

Fed Pushes Back on Thoughts of a Dovish Pivot. Yesterday, a pair of Fed officials firmly pushed back on the notion that Fed Chair Powell’s comments after last week’s 75bps rate hike represented something of a pivot to a more dovish Fed in upcoming meetings. San Francisco Fed President Mary Daly and Chicago Fed President Charles Evans both reiterated that the Fed was still a long way from achieving the tightening in financial conditions deemed necessary to wrestle inflation back to its 2% target.

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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

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Accenture

AUGUST 1, 2022

I believe the “human connection” of middle market banks has always set them apart. This focus isn’t just about how banks treat their customers. It’s also about how they treat their employees—and how that translates into a positive employee experience that makes a bank a great place to work. The power of human connections at…. The post How banks commit to being great places to work appeared first on Accenture Banking Blog.

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Marketing 285

Payments Dive

AUGUST 2, 2022

Block acquired Afterpay for what was ultimately $13.9 billion in stock, but a string of fintechs writing down valuations in the face of economic pressures raises the possibility Block will be forced to do the same.

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Fintech 418

Abrigo

JULY 31, 2022

Using the OCC Interest Rate Risk stats for asset/liability management models Financial institutions can use statistics in the OCC Interest Rate Risk Reports to gauge whether their bank is an outlier on the risk scale. You might also like this webinar, "Banking in a rising-rate environment." WATCH . Takeaway 1 Comparing the OCC's latest Interest Rate Risk Report and the one from 2019 provides a valuable look at interest rate risk variables. .

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Report Survey Comparison Regulation 195

South State Correspondent

AUGUST 1, 2022

In wrestling, there are hundreds of thousands of moves to learn. You will fail if you try to learn them all early in your wrestling career. Moves come with experience. Concepts come first. To start, what is essential is conditioning and learning about angles. Defending your angles and using angles to attack. When it comes to future success in data management in banking, the same rules apply.

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Data Tools Management Analytics 195

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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.

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Independent Banker

JULY 31, 2022

Artist Gardner Cole Miller, left, and SouthState Bank’s Shretta Godbolt turn bank-donated T-shirts into an original woven placemat. After a recent merger, SouthState Bank had hundreds of unused T-shirts featuring its old logo. Rather than send them to the landfill, it donated them to a community textile arts project that continues to inspire others.

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Community Community Bank Resources Course 156

Payments Dive

AUGUST 3, 2022

Healthcare and peer-to-peer payments also rose during the quarter over last year, the clearing house that runs the national automated system said.

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Payments National System 397

CFPB Monitor

AUGUST 3, 2022

On July 29, 2022, the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) issued a notification letter (the “joint letter”) to “remind” auto lenders and leasing companies of the protections provided to servicemembers and their dependents under the Servicemembers Civil Relief Act (SCRA). The joint letter provides a very basic overview and reminder of the vehicle repossession protections, early vehicle lease termination rights, and interest rate cap available to eligib

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Company Tools Report Data 148

South State Correspondent

JULY 31, 2022

Last week the Federal Reserve raised the Fed Funds rate by another 75 basis points – that was no surprise to the market. However, in Powell’s unscripted remarks at the press conference, he stated that interest rates have reached a “neutral level.” The market reacted to those words with equities and bonds both rallying. We believe that some market participants misinterpreted Powells’ comments, and banks should be ready for an environment where short-term rates are higher for longer – as in yea

Policies 195

Policies Community Bank Marketing Community 195

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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

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Independent Banker

JULY 31, 2022

Photo by Chris Williams. The people behind a community bank make it what it is. Our relationships with our customers begin and end with us, so it’s our obligation to ensure our employees embrace our values and care about the community. To do that, we need to draw in team members who are not only seeking nine-to-five jobs but also are striving to become community continuators.

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Community Community Bank US Meeting 153

Payments Dive

AUGUST 4, 2022

More brands have entered the cryptocurrency and NFT markets despite signs of declining consumer interest.

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cryptocurrency Branding Payments Marketing 397

CFPB Monitor

AUGUST 3, 2022

On July 28, the U.S. House Committee on Financial Services passed H.R. 4277, the Overdraft Protection Act. Introduced by Congresswoman Carolyn B. Maloney (D-NY), the bill would prohibit financial institutions from engaging in unfair or deceptive acts or practices in connection with overdraft coverage. Specifically, the bill would require financial institutions that offer overdraft coverage for accounts to disclose: (i) the specific amount of overdraft coverage fees; (ii) that the consumer’s tra

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Policies Meeting Industry Examples 148

South State Correspondent

AUGUST 1, 2022

July Jobs and ISMs Headline Releases this Week. There once was a time when Minneapolis Fed President Neel Kashkari was easily the most dovish member of the FOMC. The fact he was on the Sunday news shows yesterday reiterating the hawkish case is just another sign of how intent the Fed is in getting inflation to decline in the months ahead. Kashkari said the Fed will do what it has to in order to get inflation back to their 2% target which remains quite a distance off.

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Minneapolis Report Marketing Meeting 195

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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.

Analysis

Jack Henry

JULY 30, 2022

Risk – the possibility that something undesirable will occur – is always around us. And we make decisions based around risk every day, from the moment we take our first step, ride our first bike, drive our first car, or buy our first home. These types of risks are usually common and easily understood. As such, we have health insurance in case we get sick or injured, wear helmets on our bikes, wear seatbelts in our cars, and install alarm systems in our homes, all to reduce the risks around us.

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Security US Compliance Management 148

Payments Dive

AUGUST 5, 2022

The two card companies took action against an advertising entity tangled up in a California lawsuit against the pornography website, which the plaintiff alleges illicitly posted images of her when she was a teenager.

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California Cards Company 369

CFPB Monitor

AUGUST 1, 2022

Last week, the CFPB published additional frequently asked questions on Regulation F , its debt collection rule. The new FAQs address third-party communications, electronic communications, and unusual or inconvenient time and place provisions. Prohibitions on Third-Party Communications. The FAQs address the following questions: What is the Debt Collection Rule’s general prohibition on third-party communications?

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Meeting Regulation Payments 148

Independent Banker

JULY 31, 2022

Illustration by Sesame/iStock. The workplace is in constant flux, business goals are growing and employee preferences are evolving. Aligning these factors is critical to a community bank’s success, and a great way to start doing that is by ensuring your professional development programs support your strategic goals. Yes, it’s essential to satisfy annual training requirements but, as one CEO recently remarked, we need to grow our own community bank leaders.

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Training Resources Community Bank Leadership 140

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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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