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Stand Pat and Starve. Diversify and Thrive.

Posted by Mark Messick

Nov 16, 2016 11:15:00 AM

Because of the recent scrutiny over commercial real estate concentrations and lower-than-expected yields, financial institutions (FIs) have been searching for ways to grow loans and raise profitability. Unfortunately, aside from consumer and commercial and industrial (C&I) lending, lenders don’t see a lot of options. In fact, with the onset of poor performance in the consumer loan space, many FIs have chosen to make business lending a priority. And then a slowdown in the economy, uncertainty about our next president, and competition for the better credits led business lending volumes to fall for the first time in six years according to the Wall Street Journal.

So what’s the response?

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Topics: Lending

Ubiquity Is Key!

Posted by Al Suosso

Nov 9, 2016 11:00:00 AM

Truly effective customer relationship management (CRM) can only be accomplished if it is adopted on an enterprise-wide basis. Achieving an exceptional adoption rate has been a continuing challenge for financial institutions (FIs) of all sizes. One of the biggest challenges has been the lack of access to CRM tools within the applications that are used on a day to day basis by associates in varying departments within the FI.

To do their job efficiently, tellers must remain largely focused on the teller processing application presented on their desktop. Quickly handling routine and more complex transactions for customers is their primary role; however, a teller has a unique opportunity to provide customers with much more than a good transaction experience.

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Topics: Relationship Management, Customer Experience

Helping Create Small Businesses that Thrive...Advice from a Sales Manager

Posted by Clarke Farmer

Nov 4, 2016 2:30:00 PM

Business owners are a vital part of our society. They fuel economic growth in our communities by innovating, creating jobs, and finding new avenues to solve problems. They are the virtual backbone of the U.S. economic machine. Your role as a financial institution and lender is more than to determine which loans provide the most value for your clients. Entrepreneurs often rely on their community financial institutions for guidance, expertise, and support when looking for working capital.

However, according to a 2012 survey by JD Power and Associates on U.S. Small Business Banking Satisfaction, small businesses feel they are underserved. That’s not good for bankers or businesses. Add to that, the small business sector is growing rapidly.

So, how you can you satisfy this growing segment? In short, by helping small businesses thrive. Here are five key strategies for doing so:

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Topics: Commercial Lending

Healthcare Law – An Introduction for Financial Institutions

Posted by Robert Hudecek

Nov 2, 2016 11:00:00 AM

The healthcare industry, like any profession, is not without its own set of acronyms and laws. In truth, healthcare has often followed the financial sector closely in regards to privacy law and regulations, albeit several years in arrears. With the introduction of the Affordable Care Act, the gap is quickly closing and may bring your institution along for the ride.

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Topics: Financial Services Industry

Are You Pitching the Right Remote Deposit Products to Small Businesses?

Posted by Kevin Moland

Oct 26, 2016 10:30:00 AM

In the decade since Check21 legislation became the law of the land, the proliferation of remote deposit capture solutions has been staggering. As far back as a year ago, U.S. financial institutions had deployed more than one million desktop scanners to their commercial customers. What was revolutionary in 2005 was a commodity by 2015. It’s a rarity now to find an FI with commercial clients that doesn’t offer RDC.

But that doesn’t mean the remote deposit market isn’t changing. Thanks to the advent of Mobile Remote Deposit Capture (mRDC), electronic deposits have become a mainstream service for consumers, too, with more than one-third of U.S. bank account users having deposited a check via a mobile device.

And now the battleground for RDC services has moved to the amorphous space between consumers and full-grown commercial clients, the mystical land where small businesses live. This shift presents a challenge to treasury management sales staff when they pitch RDC products to existing clients or prospects.

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Topics: Financial Services Industry, Mobile Banking

Four Keys to a Superior Online Lending Experience

Posted by Kristin Zell

Oct 21, 2016 1:00:00 PM

Let’s be honest. The digital world makes everyone’s lives easier – your customers, your employees, and yourself. So why does your commercial lending division neglect to take that crucial next step into the digital world? Is it fear of losing the personal touch? Online lending isn’t meant to replace the relationships that you have worked so hard to create. The goal is actually to improve your business relationships by marrying the digital and the personal. As an added bonus, operational efficiency at your institution is vastly improved.

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Topics: Commercial Lending

D Is for Data Is for Decision

Posted by Patty Moore

Oct 19, 2016 11:00:00 AM

Big data, small data, data mining, data analytics, data science … there are numerous buzz words surrounding the data topic and it’s hard to keep up.

Do I care about the terminology? Not really. For business people like me, the focus remains better data means better decisions. Better decisions can result in increased growth and revenue, as well as improved efficiency. Better decisions can lead to higher savings rates, lower loan rates, and expanded services. Better decisions help financial institutions gain a competitive advantage at a time when their customers have less loyalty, comparison shop online, and have voluminous options for financial services.

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Topics: Financial Services Industry, Data Management

Security in the Financial Services Industry

Posted by Stephen Gilmour

Oct 12, 2016 10:15:00 AM

Have you heard of Sutton’s Law?

It’s the principle of focusing on the obvious answer to a problem. You might recognize it better from its source, the convicted bank robber Willie Sutton, who is alleged to have answered, “Because that’s where the money is,” when asked why he robbed banks. In his autobiography, Sutton says that while he probably would have said it if asked, he actually robbed banks because he enjoyed it, loved it even. Well, that’s where the money still is – in financial institutions – and it stands to reason that the attackers targeting them enjoy what they do and find it profitable. The methods used by the attackers may have moved on, with cybercrimes rising at an alarming rate, but the end result is the same: financial loss. So what is security in the financial services industry? More to the point, how do you know if you’re being effective with your approach to security?

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Topics: Information Security, Cybersecurity

5 Key Drivers of Website Traffic

Posted by Chelsea Fisher

Oct 7, 2016 1:30:00 PM

 

Let’s talk numbers for just a moment. According to Google, 71% of financial shoppers use search at least twice in their decision-making process (Google ZMOT). In addition, 50% of consumers report searching exclusively online for financial products (Filene). This little thing we call the internet has transformed the way we research and buy, and that includes financial services.

So it comes as no surprise that ensuring a high volume of qualified visitors to your website is now a primary goal for your financial institution’s marketing plan. But how do you go about getting people to discover and return to your site?

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Topics: Commercial Lending

Identifying Gaps in your Cyber Resilience Strategy

Posted by Jackie Marshall

Oct 5, 2016 10:30:00 AM

According to the 11th Annual Global information Security Survey conducted by PWC and CSO, 84% of CEOs, 82% of CIOs and 78% of CISOs are confident in their organization’s formal cybersecurity program. However, the number of organizations reporting losses of more than $10 million per incident is up 75% since 2012. Why do these C-level members believe their cybersecurity programs are doing more than an adequate job? Perhaps it’s because their organizations are most likely spending more of their annual budget on cybersecurity defenses and applying more internal resources to manage cybersecurity controls.

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Topics: Information Security, Cybersecurity

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