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Susan Griffin

Susan is Strategic Initiatives Analyst with Jack Henry & Associates’ (JHA) Strategic Initiatives Group (SIG) covering banking core systems and lending. She joined JHA in 2003 with over 15 years of experience in the financial technology industry. SIG provides an independent perspective of the banking and payments industry to JHA management. Susan’s experience in the banking industry has focused on banking core systems, retail delivery products for branch automation, as well as lending solutions for financial institutions. Prior to working in the financial systems industry, Susan spent 13 years directly working for banks in retail bank branch services, consumer lending, and commercial lending.

Recent Posts

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

Why Banks Should Care More about Small-to-Midsize Businesses

Posted by Susan Griffin

Jun 30, 2017 10:00:00 AM

 

The small-to-midsize business (SMB) lending market has grown considerably over the past year, and many industry analysts believe this trend will continue through 2018. A growth rate of over 18% is predicted! So where is the potential growth coming from and why does it matter?

SMB Optimism and Loan Growth

The predicted growth in the SMB market is most likely due to the optimism experienced by small businesses following the presidential election. The National Federation of Independent Businesses has measured SMB optimism at historically high levels over the past six months.

That optimism is also reflected in the statistics we see from surveys of middle market and large market businesses. It is hoped that easements in credit standards at lending institutions will continue as they have since 2011, and the economy will begin to trend upward with the passing of tax and trade reform.

If the reforms promised by the new administration come to fruition, lenders can assume that small businesses will be looking to expand. This will result in a need for capital, and trigger a large demand for loans.

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Topics: Commercial Lending

Why Financial Institutions Shouldn't Ignore Marketing Lenders

Posted by Susan Griffin

Dec 30, 2016 9:15:00 AM

The following is an excerpt from Susan Griffin’s full article.

Traditional financial institutions (FIs) such as banks and credit unions have been challenged by new entrants into the lending market from as far back as the early 1900s when finance companies, like Household Finance, introduced an alternative way for consumers to borrow money. Fast-forward a hundred years, and FIs are still faced with “disruptors” looking to serve the consumer and business markets by fundamentally changing the way borrowers seek out and apply for loans. Whether you call them “fintechs” or “marketplace lenders,” they are making their mark on traditional lending.

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Topics: Commercial Lending

The Power of (Core) Evolution

Posted by Susan Griffin

Sep 7, 2016 10:00:00 AM

Most of the banks in the U.S. market are utilizing core banking systems that were originally developed in the mid-to-late 1980’s. So it is no surprise to see a lot of mention in industry news and blogs these days regarding “core modernization” or “core transformation.” Another term that is probably more applicable is “core evolution.”

Core banking systems today are commonly being referred to as “legacy systems,” insinuating they are well past their prime and painted as irrelevant in today’s market. That’s not entirely true. In many regards, they have been transformed or modernized over time…they have evolved.

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Topics: Financial Services Industry

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