Mar 14, 2018 11:08:43 AM
Mar 9, 2018 1:40:00 PM
Throughout 2017, the ProfitStars Lending Solutions team used the "S-curve graphic" to demonstrate the function of each system component. The S-curve followed the borrower’s journey through the lending process. While our competitors were building end-to-end functionality, our systems were designed to cover the full scope of small business lending, which went beyond end-to-end to include post-funding collateral management, portfolio management, renewals, and more.
Mar 7, 2018 11:00:00 AM
In my previous post, “The Four Elements of a Successful Presentation Opening,” I suggested that there are six ways to open a presentation: a story, a show of hands, a visual or prop, an outrageous or provocative statement, a rhetorical question, or a quote. While I believe that a story is the best way to open a presentation, if you don’t open with a story, you should at least have a few stories within your presentation.
Feb 28, 2018 11:00:00 AM
CECL (Current Expected Credit Loss) is a fundamental change to how banks and credit unions will determine their loan loss reserve requirements. This change requires FIs to reserve for loans upon inception and adjust reserves monthly based on performance data coming from their loan systems and economic data coming from a forecast of various q-factors. This fundamental change will occur over the next several years.
Feb 23, 2018 1:30:00 PM
The term end-to-end has been used by software vendors and bankers in recent years to describe loan origination systems. I heard this term no less than 30 times during a recent banking conference. I hereby announce today that the term is dead, or at least should be.
Feb 21, 2018 12:30:00 PM
Shortly after Christmas, I made my semi-annual pilgrimage to the AT&T store to pick up a new phone. As an early adopter of the original iPhone®, I’ve stayed with iOS devices over the years, but I know other manufacturers are producing amazing phones of their own. (This article is not about iPhones, it’s about the technological evolution of user authentication and what that means for financial services. If you’re not an iPhone user, this article is still for you!)
Feb 14, 2018 11:00:00 AM
One of the biggest trends in our industry these days is big data. Everything is in the data – it’s right there! Can you see it?
If you are like most community banks, the answer is no. The data you have is powerful. Most businesses would kill to have that kind of access to their client’s information, history, decisions, and behaviors. It’s not for lack of information that your financial institution (FI) may struggle with regulatory compliance issues surrounding AML and fraud compliance. It’s for lack of correlation of that information.
Feb 9, 2018 1:30:00 PM
According to a recent study by the
Feb 7, 2018 11:00:00 AM
While commercial and industrial loan volume has increased annually during the past five years, the rate of increase has continued to decline. That trend is likely to reverse in 2018. Five specific factors are in play that will cause a more robust increase during the year.
Feb 2, 2018 11:00:00 AM
Trend (think: skinny jeans)
noun: a general direction in which something is developing or changing
Fad (think: bell-bottoms)
noun: an intense and widely shared enthusiasm for something, especially one that is short-lived; a craze
A new year brings a fresh outlook for the year ahead, both personally and professionally. It’s a great time for reflection and for taking inventory on what to keep and what to toss away. Before I started writing this post I hit the Internet over lunch to see what’s trending in fashion to get ideas for my holiday gift card shopping spree. As I munched on my Yakisoba, I nearly lost my noodles. Here’s what some fashionistas think I should be wearing this year: