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Higher Rates = Happy Days?

Posted by Bill Kirsten

Feb 8, 2017 11:30:00 AM

"Happy days are here again
The skies above are clear again
So let’s sing a song of cheer again
Happy days are here again"

(From FDR’s theme song for the 1932 presidential campaign)

The Federal Reserve increased interest rates … finally! Market rates are rising too. And more are to come, so they say. Let the good times roll!

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Topics: Payments, Risk Mitigation

Urgent Advice: Leverage Payments to Win Digitally-Dependent Customers - Part 2

Posted by Deborah Matthews Phillips

Feb 1, 2017 11:30:00 AM

If you recall last week’s blog post, the impact of this digital dependency has been indelible on our industry. For at least half of consumers, technology is a key factor in selecting their financial institution. More than half say mobile banking will change the way they bank in the future. But how will this impact your financial institution moving forward?

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Topics: Mobile Banking

CECL Requirements…Our Modern-Day Y2K?

Posted by Gary Lewis

Jan 27, 2017 11:00:00 AM

Flash back to the late 90s when Y2K was all the rage. I remember the panic that transcended virtually all segments of the software market. Will our interest calculate correctly? How will we track maturities? Will the coffee maker work? The sky was falling! Whoever thought that having a two-digit data field representing the calendar year would be such a big deal? Well, it was a big deal. Or at least it appeared to be at the time.

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Topics: Commercial Lending

Urgent Advice: Leverage Payments to Win Digitally-Dependent Customers - Part 1

Posted by Deborah Matthews Phillips

Jan 25, 2017 11:32:54 AM

An ice breaker question at a meeting I recently attended read, “What technology innovation has made the most impact on your life?” Not surprisingly, a large majority of people held up their smartphone. Even though it was only ten years ago when Apple unleashed the iPhone, in the fast-paced world of technology, ten years feels like a lifetime. Most of us can’t imagine what our existence would be like without it.

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Topics: Mobile Banking

The Value in FinTech Conferences

Posted by Danny Payne

Jan 18, 2017 11:15:00 AM

At most FinTech companies, banks, and credit unions, the start of a new year means planning for conferences. And for some odd reason, there seem to be two groups of people when it comes to conferences and trade shows. It’s a love/hate relationship – you either fall on the side of seeing all the good in conferences or you think they’re complete wastes of time and resources.

I for one fall into the “love” category, and I’ve been this way since I started working in FinTech almost 15 years ago. The company I worked for was a small startup and we just started selling payments in the utilities marketplace. I was a new account rep and it was my first tradeshow. It was magical! I stood in a booth; people came up to me and asked questions about my product; and I talked to them about it. In 10 minutes I could present the value proposition and product differentiation, show a demo, and set a follow-up meeting. It was like speed dating for sales … and I loved it.

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Topics: Financial Services Industry, Customer Experience

The Five Most Meaningful Impacts of Lending Efficiency

Posted by Patrick True

Jan 13, 2017 1:00:00 PM

Since 2010, competition for commercial loans has increased significantly. More lenders have been chasing a limited number of loans during a slow growth environment. Alternative lenders of every shape and size have crowded the space, especially for small-dollar loans. More importantly, technology has shifted, resulting in greater pressure to meet the client online and to speed up loan approvals and turnaround times. Loans that previously would have taken two to three weeks from application through funding now take only a few days, or less. It reminds me of something Bill Gates once said - 

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Topics: Commercial Lending

Do You Make These PowerPoint Mistakes in Your Presentations?

Posted by Shane Purnell

Jan 11, 2017 11:15:00 AM

If you took a speech class before Microsoft® PowerPoint existed, you likely know what a “visual aid” is. Before PowerPoint, a visual aid was a drawing on a flip chart or a product you held. What made visual aids effective was you had to decide what to say about them and how to use them in your presentation before you presented.

Today, slide decks have replaced visual aids. Unfortunately, many presenters think step one of a presentation is to fire up PowerPoint and start creating slides. They don’t think about how they’ll use them or how they’ll impact the audience. Instead of using PowerPoint to create visual aids, they write their whole presentation in it.

If you want to create a great presentation, don’t start in PowerPoint. Starting in PowerPoint encourages two common presentation mistakes.

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Topics: Financial Services Industry

The New Reality of Incident Response Plans

Posted by Jennifer Roland-Vlach

Jan 4, 2017 11:15:00 AM

You may have noticed 2016 was quite the busy year for IT regulatory compliance. OK, that’s probably a bit of an understatement.

Last year saw the release of Appendix E on Mobile Financial Services, the new InTrex exam format, the updated Information Security Handbook, and the promise of more to come in 2017. With this plethora of information being directed at financial institutions (FIs), I wanted to take this opportunity to highlight one particular factor that is already coming under examiner scrutiny-incident response. I have written about incident response a couple of times in the past. In fact, in my previous blog I provided some best practice items for FIs to consider in their Incident Response Plans. But with increasing attention on this subject, I think it is necessary we re-visit a couple of established incident response standards and acknowledge a new best practice.

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Topics: Risk Mitigation, Data Management

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

People, Process, Product: What if “the Profit” Paid a Visit to Your Bank?

Posted by Clarke Farmer

Dec 28, 2016 11:30:00 AM

One of my favorite TV shows is CNBC’s The Profit. In the show, Marcus Lemonis (aka “the Profit”) invests and partners with small businesses that typically need dramatic changes to their business model in order to improve performance and profitability.

The Profit’s method focuses on three primary elements: people, process, and product. It is quite entertaining. The people he gets involved with are usually even more interesting than the business challenges faced in each project. I suspect that any banker who has seen the show can nod their head and chuckle in agreement that many of their commercial loan customers fit a similar profile.

That said, do you wonder what the Profit would say if he paid a visit to a community bank? We may never know, but here are a few thoughts specific to the commercial lending side of the shop.

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Topics: Financial Services Industry, Lending

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