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Apply Now - Commercial Lending in the 21st Century

Posted by Gary Lewis

Aug 26, 2016 3:00:00 PM

Is your Commercial Lending process outdated? Is it easy for commercial borrowers to conduct business with you? Are you providing products in the manner your borrowers desire? Think about these questions for just a moment and ask yourself…..am I doing all I can to be the best commercial lender in my market? 

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Topics: Commercial Lending

The FinTech My Children Will Inherit

Posted by Danny Payne

Aug 24, 2016 10:00:00 AM

 

If we compare the advances it has made over the last 30 years, fintech has come a long way. My life’s story has seen the shift from the days of waiting in a long teller’s line after work to being able to transfers large sums of money in half a minute from the comfort of my home. Looking back, I often think to myself, “How will fintech evolve over the next 30 years? What will be the fintech that my children will inherit compared to all the technology that I grew up alongside?” To have an idea of where we’re going, we have to take a look from which we came.

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Topics: Financial Services Industry, Customer Experience

Are Intelligent Assistants Smart Enough Yet?

Posted by Deborah Matthews Phillips

Aug 17, 2016 10:00:00 AM

Twenty-three years ago, my 7 year old daughter was given a homework assignment to write about something she would like to invent. I was so proud of her idea – she called it “Speak it and see it.” The concept was a simple speech recognition tool where a user could dictate into a microphone and the words would appear on the computer. The fact that she received only a “B” demonstrates how far-fetched this idea must have seemed at the time.

Fast forward to 2016. There is an exciting evolution at the intersection of natural language processing, artificial intelligence and connected devices. Intelligent personal assistants like Amazon’s Alexa®, Apple’s Siri®, Microsoft’s Cortana®, VIV, Hound and Google Assistant promise to change the way we manage our lives. Gartner explains, “An autonomous agent becomes the main user interface. Instead of interacting with menus, forms and buttons on a smartphone, the user speaks to an app, which is really an intelligent agent. These intelligent agents may be associated with an individual app or act across multiple apps.”

Intriguing for sure, but are they the next big thing?

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Topics: Customer Experience, Mobile Banking

What Your Loan Pipeline Is Telling You

Posted by Maury Green

Aug 12, 2016 3:00:00 PM

Now that the recession of 2008 is a distant memory, financial institutions (FIs) are actively making both residential and commercial real estate loans. They’re taking good care of their consumer customers, and commercial lending is definitely on the comeback trail. With so much activity, FIs are anxious to analyze all the new loan opportunities in their pipelines, quickly discard the ones they don’t want, and efficiently figure out what their pipelines are really saying to them.

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Topics: Commercial Lending

Using Information to Effectively Engage With Clients

Posted by Brad Dahlman

Aug 10, 2016 10:00:00 AM

How often do you go to your favorite restaurant or shop at your favorite store?

I personally visit Costco every week to pick up items for my family of five. This gives Costco 52 opportunities per year to “engage with me” at their store, for roughly 45 minutes each week. Now turning to banking; how many times a year do you engage with your clients?

In a recent FDIC report titled “Brick and Mortar Banking Remains Prevalent in an Increasingly Virtual World” and Brett King’s article “What the FDIC study on bank branches misses and it’s a massive hole”, there is a healthy discussion of this topic – how many times do clients visit your branch? 

While this key stat isn’t available for US banks, I was drawn to one chart from a UK bank. Spare Bank has tracked visits per year and from 1995 to 2016 the results are staggering – branch visits dropped from 24.5 visits per year to 1.3 visits per year. Put simply, clients visit their bank or credit union once or twice a year and their favorite store weekly!

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Topics: Relationship Management, Profitability Management

Living Core Philosophies, Not Just Meaningless Platitudes

Posted by Pete Major

Aug 3, 2016 10:00:00 AM

Have you made a big mistake lately that would have been easy to simply sweep under the rug? Are your employees jumping up and down to volunteer to stay up all night to get that project completed? What makes employees go the extra mile and make the right choices in tough situations? It’s the culture you create by living your company’s core philosophies. Where your company’s purpose states “why” the organization exists, your core philosophy directs “how” employees do their work. I’d like to introduce you to how we do things here at JHA.

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Topics: Financial Services Industry, Customer Experience

How Your Bank Can Stand Out On Social Media

Posted by Chelsea Fisher

Jul 29, 2016 3:00:00 PM

With over 1.65 billion users logging into Facebook every month and 1.09 billion daily users – it’s clear that social media has become an integral part of the marketing mix. Even the most conservative of financial institutions are coming around to the idea that they too can benefit from being social.

With so many FIs jumping into the game, it’s increasingly critical to have a strategy. Here are a few key moves for banks wanting to stand out on social media.

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Topics: Commercial Lending

Rewards Apart

Posted by Jonathan Patrick

Jul 27, 2016 10:00:00 AM

Service Isn’t the Panacea, Value Matters as Well

Ask just about any financial institution how they are different and you will inevitably be told it is through “WOW service.” Service is the most commonly quoted differentiator, because many banks and credit unions believe there is little room left to differentiate through products and services. While the people factor certainly plays a huge role, standing apart from the pack these days means creating real value.

It is important to understand the credit union philosophy in order to grasp why they are driven to provide real value to their members. The difference can be seen in how they define people that do business with them and as a “member”, you essentially own the credit union.

Traditionally the value offered for being an owner has come in the form of better-than-market interest rates. However, lately credit unions have been looking to extend that value by increasing the types of rewards programs they offer.

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Topics: Customer Experience

How Information Technology Helps Create Credit ACE’s Within Your Institution

Posted by Patrick True

Jul 20, 2016 10:54:08 AM

Years ago, I introduced the Credit ACE acronym to describe a credit officer’s skill in managing a commercial lending portfolio. To be an ACE means to Anticipate potential future events and actions, to Communicate effectively with your clients and to Enforce legal agreements appropriately. Since the acronym was first used, advances in information technology have widely enhanced those capabilities. By working with financial technology vendors, financial institutions across the US are beginning to aggregate their financial data in order to see more clearly into each business relationship. From on-line applications and underwriting through documentation, collateral management and compliance, these institutions are beginning to benefit from seamless delivery of data from one system to the next. This will pay further dividends in the near future as institutions develop their strategies to comply with new regulatory standards associated with FASB guidance regarding current expected credit losses (CECL).

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Topics: Loan Pricing, Lending

6 Steps for Faster Underwriting

Posted by Kristin Zell

Jul 15, 2016 2:25:00 PM

Let’s face it – getting a commercial loan from application to close takes a lot of steps….a LOT. Of course most of them cannot be eliminated without taking on too much risk and displeasing the regulators. But like most processes, there is plenty of room for improvement in underwriting. With some thoughtful changes, you can easily eliminate redundancy, time gaps, and confusion in the underwriting process to make your lending more efficient and your borrowers happier in the process! Here are six steps you can take to accelerate your underwriting process:

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Topics: Commercial Lending

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