Accenture
AUGUST 15, 2022
Is it fair to describe the workplace culture at the typical bank today as a competitive disadvantage? That depends on each bank’s particular situation. But Accenture’s cross-industry research, discussed earlier in this blog series, has found that the workplace culture at many banks suffers by comparison to many other organizations. This is a significant drawback….
South State Correspondent
AUGUST 15, 2022
The reality is that banks don’t think from the customer’s perspective enough. The customer experience is horrible for many bank processes. Bankers often think from the bank’s perspective or from the regulator’s perspective. Not understanding your customer can lead to a brand and products misaligned with the customer’s needs resulting in an erosion of a bank’s competitive position.
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South State Correspondent
AUGUST 17, 2022
Global Inflation Worries have Treasuries under Pressure. While a China-led global slowdown led to higher Treasury prices on Monday, today it’s higher UK inflation that has Treasury yields heading higher. In a reminder that inflation is not only a domestic story but a global one, UK inflation accelerated to the highest level in 40 years with their CPI increasing 10.1% YoY in July.
BankInovation
AUGUST 17, 2022
FIs weighing the automation of any processes must decide whether to create the new technology in-house or acquire it. But a mix of the two options may be the best course of action, Vince Bezemer, senior vice president of strategic business development at engagement banking platform Backbase, told Bank Automation News. “To really be in […].
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Payments Dive
AUGUST 19, 2022
The federal government’s new real-time payments system should be ready for use by the middle of next year, Fed Governor Michelle Bowman said in a speech this week.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
AUGUST 17, 2022
The drive for sustainability will force banks to radically change their relationships with many of their key corporate customers. They’ll need to gain a deeper understanding of their customers’ businesses and develop greater insight into the workings of their supply chains. Furthermore, they’ll have to shift from being mainly sources of finance to instead becoming….
Abrigo
AUGUST 19, 2022
Joint s tatement emphasizes understanding a customer’s risk profile for BSA/AML An individualized, risk-based CDD approach is best when it comes to creating your BSA program protocols. You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." WATCH . Takeaway 1 Regulators recently reminded financial institutions to have risk-based customer due diligence ( CDD ).
Payments Dive
AUGUST 18, 2022
With PayPal’s former CFO on board, the retail behemoth is assessing its prospects in the payments arena near and far.
South State Correspondent
AUGUST 19, 2022
LEI Close to Signaling Coming Recession. The somewhat bullish take on the July FOMC minutes from Wednesday was reversed yesterday when a couple Fed officials reiterated the need for continued aggressive rate hiking. That has put pressure on Treasuries this morning with the 10yr note flirting with 3.0%. St. Louis Fed President James Bullard continued in his role as lead hawk on the Fed with a call for a 75bps hike next month and expressed the desire to get to 4% by year-end.
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Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.
Gonzobanker
AUGUST 17, 2022
Most fintech companies are fine, but they’ve stopped blowing off econ class for mimosa brunches. The energy and uncertainty of youth are headed back to school. Especially in fintech, which had the roughest semester last spring. First, there was the drama leading up to the breakup with the rich hottie. Then, bad grades came in right as summer party season kicked off, mom and dad took away the car and credit card, and the Venmo transfers came to a screeching halt.
CFPB Monitor
AUGUST 19, 2022
It is my pleasure to introduce to our blog readers the newest member of our growing Consumer Financial Services Group: Abigail Pressler. Abigail is one of the leading lawyers in the country who focus their practice on compliance with the laws that pertain to consumer debt collection. Abigail counsels creditors, third-party debt collectors and debt buyers with respect to the vast array of federal and state laws that cover consumer debt collection.
Payments Dive
AUGUST 17, 2022
Of 10 top executives leading the company last year, only three remain, including CEO Jason Gardner, who last week said he plans to exit that role and become executive chairman.
South State Correspondent
AUGUST 16, 2022
China Weakness Has Treasury Prices Higher. A trio of reports out of China overnight suggest the second largest global economy has hit another soft patch and that has risk assets on the back foot this morning with Treasuries in the green. Retail sales, industrial production and investment all slowed in July and the jobless rate for the 16-24yr old cohort hit a record high of 19.9%.
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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.
BankUnderground
AUGUST 18, 2022
Iryna Kaminska and Haroon Mumtaz. Since 2009, when policy rates reached their effective lower bound, quantitative easing (QE) has become an important instrument of central bank monetary policy. It is aimed to work via long-term yields. The literature confirms that QE helped lower long-term yields. But the yields have two components – expectations and term premia – and open questions remain: does QE reduce yields via expected rates or term premia ?
CFPB Monitor
AUGUST 17, 2022
Earlier this year, the CFPB and the FTC filed an amicus brief in an appeal to the Second Circuit, arguing that the Court should reject the District Court’s “unduly narrow” interpretation of the FCRA requirement that consumer reporting agencies (CRAs) follow reasonable procedures to assure accuracy of information included in consumer reports. The CFPB and FTC argue that the FCRA does not distinguish between “legal” and “factual” inaccuracies, and thus CRAs may be held liable for failing to mainta
Payments Dive
AUGUST 15, 2022
After rolling out the bio-authentication and payment technology to a handful of stores earlier this year, the grocery chain will add it to 65 locations in California.
South State Correspondent
AUGUST 15, 2022
Competition is intense, and every bank is looking for a competitive advantage. Better products, faster service, or insightful advice can translate into additional loans, better credit spreads, or extra fee income. Sometimes just a graphics tool can help a banker win more loan business. At SouthState, our commercial lending teams use an online proposal generator, and we make that same app available to any community bank.
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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.
BankUnderground
AUGUST 16, 2022
Giovanni Covi, James Brookes and Charumathi Raja. Climate transition will undoubtedly expose UK banks to new risks and opportunities. Hence, we quantify the UK banking sector’s share of total assets allocated towards climate policy relevant sectors (CPRS). Using The Global Network data set mapping the network of UK banks’ loan and security exposures, we find that the UK banking system’s direct CPRS exposures amount up to 6.1% of total assets, or 45.7% of non-financial corporate (NFC) expos
ATM Marketplace
AUGUST 19, 2022
Banks and credit unions must provide the value customers and prospects are looking for, along with digital messaging that's right for the store.
Payments Dive
AUGUST 15, 2022
The banking-as-a-service company wants to expand its reach as it spins off from the Central Bank of Kansas City.
South State Correspondent
AUGUST 15, 2022
The reality is that banks don’t think from the customer’s perspective enough. The customer experience is horrible for many bank processes. Bankers often think from the bank’s perspective or from the regulator’s perspective. Not understanding your customer can lead to a brand and products misaligned with the customer’s needs resulting in an erosion of a bank’s competitive position.
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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.
TheGuardian
AUGUST 16, 2022
Rates have gone up six consecutive times, yet very few savers are benefiting, researchers find Millions of people are being short-changed on savings rates, with banks and building societies failing to pass on this month’s 0.5 percentage point interest rate rise, research has claimed. Continue reading.
ATM Marketplace
AUGUST 17, 2022
Nearly any industry one can imagine offers opportunities to incorporate cards that can be swiped or otherwise read. The process of incorporating card-based applications can be made even more convenient with an on-demand card dispenser.
Payments Dive
AUGUST 19, 2022
Point-of-sale, payroll, accounts payable and accounts receivable startups are leading the way in funding for payments startups, according to PitchBook.
South State Correspondent
AUGUST 15, 2022
Competition is intense, and every bank is looking for a competitive advantage. Better products, faster service, or insightful advice can translate into additional loans, better credit spreads, or extra fee income. Sometimes just a graphics tool can help a banker win more loan business. At SouthState, our commercial lending teams use an online proposal generator, and we make that same app available to any community bank.
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In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.
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