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The Biggest Misconception of Real-Time Payments

Posted by Jennifer Geis

Aug 16, 2017 12:57:13 PM

A recent metamorphosis of the payments industry began with same day ACH (automated clearing house). ACH is basically the rails that connect banks and credit unions in the United States and allow payments to move between various accounts. Beginning last September, 2016, NACHA (National Automated Clearing House Association) adopted a rule to provide a new, “ubiquitous” capability for moving ACH payments faster. The rule was planned to occur in a three phased approach. Phase one, required a mandate for the ability to receive and process same day credits, and introduced additional processing windows for settlement times. Phase two, which is scheduled to go into effect September 15, 2017, required a mandate for the ability to receive and process same day debits – in addition to credits. And lastly, phase three, planned for March 2018, will make same day ACH funds sent before a specific cut-off window available to the payee by end of business on the same day.

Just as same-day ACH seems to be picking up steam and appears to solve the answer to all payment problems, we discover it’s not fast enough. We need faster – we need instant – we need real-time! The mobile-first, digital minded, technology hungry end consumer is doing everything else faster, therefore the way they pay is no exception.

Enter real-time payments.

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Topics: Payments

Loan Origination is No Longer Enough

Posted by Mark Messick

Aug 11, 2017 11:00:00 AM

The world of commercial loan origination is changing rapidly. A by-product of billions of dollars in worldwide technological investment since 2010 is the creation of better lending platforms for community-centered financial institutions.

In the beginning, lenders might have been satisfied with a simple loan origination system (LOS), but by 2017 it’s clear that a basic LOS no longer allows you to be competitive. Today’s world requires systems that talk to each other with ease. It requires strong tools to manage workflows and pipelines while helping generate increased loan volume.

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Topics: Commercial Lending

Help Me Out: 4 Ideas for Leveraging Help Documentation

Posted by Katie Bennett

Aug 2, 2017 12:00:00 PM

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Topics: Financial Services Industry, Customer Experience

Top 5 Commercial Lending Posts of 2017

Posted by Strategically Speaking

Jul 28, 2017 11:00:00 AM

As summer draws to a close, many of us are grabbing a last reprieve from the office grind to unwind, recharge, and perhaps even catch up on our reading. If you like to seek out new ideas in your downtime, then consider this short list of the most popular commercial lending blog posts from Strategically Thinking so far in 2017.

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Topics: Commercial Lending

Summer Recap: The Top 5 Strategically Speaking Posts So Far!

Posted by Strategically Speaking

Jul 26, 2017 11:50:00 AM

It's a hot one this year. Cool down with a recap of the top Strategically Speaking posts of the summer.

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Topics: Financial Services Industry

Research: What We Don’t Know WILL Hurt Us!

Posted by Susan Griffin

Jul 19, 2017 11:30:00 AM

“Research is creating new knowledge.” Neil Armstrong

I’m sure Neil Armstrong’s confidence level was high when he stepped out of his spacecraft onto the moon. He knew how much research was done at NASA to put him there. And more importantly, to get him home safely. 

Although it’s not rocket science, the research we do at Jack Henry & Associates (JHA) is just as important to us. We depend on research to better understand the needs of financial institutions (FIs) as well as the customers they serve. With this knowledge, our associates are able to build strategies that define and accentuate the design of our products and services.

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Topics: Financial Services Industry, Tomorrow's Technology

The Evolution of Small Business Lending – Online and Mobile

Posted by Patrick True

Jul 14, 2017 11:00:00 AM

 

The dynamics of small business lending have been changing rapidly over the past ten years. Born initially from the fintech lender movement, small business owners are now turning to online loan origination processes in greater numbers. Why? Having forged their expectations as consumers of personal loan and mortgage solutions in the early 2000s, these consumers-turned-business-owners now demand those same efficiencies in the enterprise arena.

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Topics: Commercial Lending

6 Questions to Consider When Performing a Data Conversion

Posted by Jason Mayhall

Jul 12, 2017 11:45:00 AM

Much like buying a house, your choice of an Enterprise Content Management System and conversion of legacy data is a huge decision that could lead to your dream home or a money pit. Let’s use a house hunting analogy to help illustrate the things you must consider when performing a data conversion into a new ECM solution.

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Topics: Data Management

M Is for Machine Learning -  Not Magic

Posted by Patty Moore

Jul 5, 2017 11:30:00 AM

Several of my colleagues and I recently had an opportunity to visit the Microsoft campus in Redmond, WA to meet with their data scientists and SQL Server 2016/ SQL Server R Services experts. Our objective was to collaborate on the machine learning models we are developing for our Advanced Reporting for Credit Unions™ (ARCU) business intelligence solution.

While machine learning algorithms have been around for quite some time, our team is looking to productize and operationalize predictive models for 240+ Jack Henry/Symitar customers. Predictive analytics is an area of data science that is getting more and more attention.

Why? Companies have accumulated a breadth and depth of available data and they want to maximize their investment by generating predicted outcomes that will help them make better decisions and take faster action.

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Topics: Credit Unions, Tomorrow's Technology

Is This the Age of De Novos?

Posted by Shelba Murphy

Jun 30, 2017 4:45:00 PM

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de no·vo
/dā ˈnōvō, di ˈnōvō/
Starting from the beginning; anew.
“De novo” is the industry term recognizing the formation of a new financial institution, typically a bank.

Between 2010 and end of 2015, only two new banks opened their doors in the US. Since that time, however, an increase in de novo activity has appeared; with two new openings and seven pending approvals.

There are no doubt several reasons for this shift. One reason could be that the failure rate of banks during the recession is fading into history, and the economy is gradually getting back on its feet. Also, the FDIC has lifted some of the regulatory burden on these institutions. For example, in 2009, a regulation (FIL-50-2009) was created that mandated heighted examination procedures to continue for seven years after a bank’s approval. In 2016, this rule was rescinded and the period has been reduced to three years.

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Topics: Financial Services Industry

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