South State Correspondent

AUGUST 31, 2022

Banks are full of documents. Each document contains an extensive array of data. Just keeping track of non-disclosure agreement terms is a huge task. Then there are vendor contracts, employment agreements, statements of work, loan documents, financial statements, tax returns, deposit account documents, policies, and an array of similar applications. The challenge is that most of the data in documents are “dark data” or unstructured data that is hard to find, analyze and manipulate.

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Data Training Examples Taxes 74

Accenture

SEPTEMBER 1, 2022

As promised in our last post, today we are diving deeply into why a technology integration strategy is a critical enabler for a successful fintech acquisition and for fostering (and, ideally, for accelerating) the growth of the fintech. Historically, the banking industry has been slow to modernize. This makes it challenging for most incumbent banks….

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Fintech Strategy Industry Technology 510

Payments Dive

AUGUST 31, 2022

Affluence and age significantly affect whether people choose to use cash for purchases, according to the latest Gallup poll on cash use in the U.S.

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Abrigo

AUGUST 28, 2022

Develop a credit risk rating system. Having an internally developed risk rating system is common. Here are some best practices on the creation process. You might also like this webinar, "Position yourself for high-yielding ag loan growth." WATCH . Credit risk rating. Start with the basics. For banks and credit unions, a popular tool to monitor credit risk is a standardized risk rating system, which can serve several purposes.

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System How To Lending Risk Management 195

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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.

Groups

Abrigo

AUGUST 29, 2022

E-signature capabilities benefit both customers and staff Banks and credit unions that leverage electronic signature capabilities reap the benefits of a more efficient lending process. Would you like other articles like this in your inbox? Takeaway 1 Optimize the signature collection process. Better communication, data collection, and storage offer opportunities for efficiency gains.

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Payments Dive

AUGUST 29, 2022

The nation’s biggest bank and bank trade groups stressed the risks of creating a central bank digital currency in comments to the Fed, and largely rejected the idea that a digital dollar would accomplish stated goals.

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National Groups 533

Perficient

AUGUST 30, 2022

The post-pandemic era has ignited monumental changes in the global financial realm, forcing financial services institutions into unchartered territory when it comes to digitization. Many startups and more and more legacy financial services institutions are reaping the benefits of employing an Agile methodology to digitize at scale and address the customer expectations of today.

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Meeting Examples UX Case Study 294

Accenture

AUGUST 28, 2022

Great brands aim to make an impact on the world. They use purpose to drive action. And according to a recent Accenture Song study on North American banking customers, “brand purpose” is no longer a nice-to-have factor—it’s an imperative. For banks, we define “brand purpose” as the action-oriented articulation of your mission and values, and…. The post Banking on brand purpose: Three ways to unlock ROI appeared first on Accenture Banking Blog.

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South State Correspondent

AUGUST 31, 2022

ADP Employment Change Report Reappears. It had been a ritual for years during jobs week that the ADP Employment Change Report would be released on Wednesday and provide a bit of a heads up for the Friday BLS jobs numbers. Alas, ADP began to vary wildly from BLS numbers during the pandemic and recovery, so they took it down last May to retool the methodology (with the help of Stanford Digital Economy Lab), and provide additional wage information.

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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

Community Bank

Payments Dive

SEPTEMBER 1, 2022

Visa's CFO on Wednesday brushed off any concerns about the threat of new competition from FedNow, or any other real-time payments system.

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System Payments 514

Abrigo

AUGUST 30, 2022

Expanding the commercial loan portfolio in today's market With the right strategies, banks and credit unions can expand their commercial loan portfolios successfully. You might also like this webinar on commercial lending strategy. WATCH . Takeaway 1 Commercial loans have remained strong through the pandemic despite high inflation rates and unstable conditions.

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Independent Banker

AUGUST 31, 2022

Photo by Chris Williams. In today’s intense regulatory landscape, compliance extends to every aspect of banking, so much so that no one person or team can be solely charged with managing a bank’s compliance requirements. In fact, compliance has grown to become a massive responsibility that must be part of every employee’s job. We’re looking at the need for a full culture of compliance.

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Compliance Community Leadership Industry 177

South State Correspondent

SEPTEMBER 2, 2022

Goldilocks Appears in August Jobs Report. Nonfarm payrolls increased 315 thousand while the unemployment rate rose two-tenths to 3.7%. Expectations were for 298 thousand new jobs, so the actual increase was just above expectations but trailed July’s 526 thousand new jobs. The largest gains came in healthcare, professional and business services, and retail trade.

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Report Marketing Survey Retail 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.

Lending

Payments Dive

AUGUST 30, 2022

Continued adoption of digital wallets is likely to depend on the services that providers add, said Charlotte Principato, a financial services analyst for polling firm Morning Consult.

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Charlotte 434

Abrigo

AUGUST 29, 2022

Credit risk pricing Maintaining consistency in credit risk pricing can be broken down into three important factors. You might also like this webinar on loan policy best practices. WATCH. Takeaway 1 Risk rating using multi-factor contributions is key to building a strong credit risk pricing model. Takeaway 2 Defining a standard for quality of collateral is important and its consistent application even more so.

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How To Lending Risk Management Analysis 195

Independent Banker

AUGUST 31, 2022

Photo by Chris Williams. This month’s Independent Banker focuses on budgeting issues with a special emphasis on the ICBA National Community Bank Service Awards. With that two-pronged concentration, I can’t help but consider the connection between our role of service and the impact regulation can have on our very ability to serve. Inherent to our business model is a passion to support our communities, one that allows for flexibility to meet the individual needs of our customers.

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South State Correspondent

AUGUST 29, 2022

Over the last 15 years, an ever greater percentage of community banks have embraced some form of interest rate hedging. Approximately 1,000 banks in the country use some form of hedging products to manage risk, generate fee income, or provide product offerings demanded by their customers. Most of the top 100 banks (by asset size) have robust derivative solutions.

Community Bank 195

Community Bank Community Strategy Regional 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

Cards

Payments Dive

AUGUST 31, 2022

Calls from government officials urging Visa, Mastercard and American Express to support creating a merchant category code for gun sellers are growing louder.

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Company Cards 418

Abrigo

AUGUST 28, 2022

Leveraging the efficiencies gained from lending software Banks and credit unions that leverage an integrated lending and credit platform reap the benefits of a consistent, efficient and defensible lending program. Would you like other articles like this in your inbox? Lending and Credit Software. Leveraging software to gain efficiency. Takeaway 1 Optimize profitability through loan pricing models.

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Software Lending Capital Philadelphia 195

Independent Banker

AUGUST 31, 2022

Photo by Enigma Images/iStock. By Charles Potts, ICBA. The COVID-19 pandemic placed unprecedented stress on food supply chains, with bottlenecks in farm labor, processing, transport and logistics, according to the Organization for Economic Cooperation and Development, and these challenges show no signs of letting up. Against this backdrop, agtech—the application of technology to every aspect of the food production process, from farm to table—is growing in importance to the mission of ICBA and co

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Innovation Community Bank Community Lending 144

South State Correspondent

AUGUST 29, 2022

Over the last 15 years, an ever greater percentage of community banks have embraced some form of interest rate hedging. Approximately 1,000 banks in the country use some form of hedging products to manage risk, generate fee income, or provide product offerings demanded by their customers. Most of the top 100 banks (by asset size) have robust derivative solutions.

Community Bank 195

Community Bank Community Strategy Regional 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

Payments Dive

AUGUST 30, 2022

FedNow, an effort by the Federal Reserve Banks to speed up and modernize the U.S. payments system, is expected to launch as early as next May.

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System Payments 396

Abrigo

AUGUST 28, 2022

Develop better ag lending workflows before demand picks up. A better ag lending process makes applying smoother for borrowers and can allow efficient ag loan growth without adding a lot of staff. You might also like this webinar, "Position yourself for high-yielding ag loan growth." WATCH . Takeaway 1 Now is the time to plant the seeds for harvesting growth in the ag loan portfolio by creating a better ag lending process.

Lending 195

Lending System Analysis Data 195

CFPB Monitor

SEPTEMBER 1, 2022

The Federal Trade Commission has entered into a consent order with Credit Karma, LLC to settle the FTC’s claims that Credit Karma engaged in deceptive acts and practices in violation of Section 5 of the FTC Act by making false or misleading claims that consumers were pre-approved for certain credit products. The order requires Credit Karma to pay $3 million to the FTC, which sum “may be deposited into a fund administered by the Commission or its designee to be used for relief, including consume

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Training Analysis Study Survey 148

South State Correspondent

AUGUST 29, 2022

Markets Still Adjusting to Jackson Hole. Treasury yields continue to adjust from the tough talk at Jackson Hole last Friday, and that adjustment is mostly in the form of higher yields. The 2yr note overnight briefly hit 3.48% which eclipsed the 3.43% high set back in mid-June. That’s the highest 2yr yield since 2007 and reflects the market’s appreciation of the higher-for-longer message that Fed Chair Powell left with investors.

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Marketing Policies Survey Data 195

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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

Community Bank