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Real Face Time: Conferences Deliver What Devices Can’t

Posted by Susan Griffin

Sep 22, 2017 11:30:00 AM

In our busy digital world, we often forget the importance of being in a live setting and networking with others from the financial services community. In fact, the benefit you get from attending industry conferences might be just what you need to discover new ways to motivate your business and promote growth in your financial institution.

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Topics: Commercial Lending

Surviving the 'Wheel of Death' – 5 Critical Steps for Crafting a Data Integration Strategy

Posted by Gary Lewis

Sep 8, 2017 11:00:00 AM

Earlier this year, one of the smartest bankers I know suddenly reached the end of his rope. In an attempt to bring order to the chaos of managing data silos within his financial institution, he drew a schematic of all the systems that, at one point or another, tied into his core. The end result was so confusing that he named it “the wheel of death.” 

While admittedly comical, this story sheds light on one of the most significant and serious questions financial institutions face today. How can lenders leverage data in a meaningful way to create efficiencies, influence revenue, and enhance customer service? There is a strong sense in lending that financial institutions have access to all the data they need, they just need a strategy to mine it. But the key to access is effective data integration.

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Topics: Commercial Lending

The Next Wave of Fintech: Software as a Strategy

Posted by Patrick True

Aug 25, 2017 11:00:00 AM

Industry observers estimate that there have been as many as 4,000 fintech start-ups since 2010 in the U.S. and the UK alone. These companies reside in all sectors of financial technology, from lending to payments and beyond. This surge in development has generated a lot of excitement in both the retail and the commercial space. It has also triggered a new wave of discussions in the area of vendor management practices, where regulators are starting to focus their attention. No doubt, your financial institution has considered utilizing new third party software for many different functions in the past two to three years. But the market is now evolving beyond software.

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Topics: Commercial Lending

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

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

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

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

Healthcare Lending… Thinking Beyond the Doctor’s Office

Posted by Scott Brown

Jun 16, 2017 11:00:00 AM

As financial institutions look for ways to expand their commercial lending portfolios and attract valuable relationships, there are many opportunities out there for consideration. Possibly none add more value across multiple channels than healthcare banking. The healthcare industry is a $2 trillion market that represents 18% of our GDP and is growing. Banking opportunities abound. Healthcare relationships bring in core deposits, have a strong need for treasury management services, are typically sound credit risks, and drive wealth management opportunities.

Attracting healthcare relationships starts with having a viable healthcare loan platform. Just what is healthcare lending, though? 

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Topics: Commercial Lending

Digital Marketing Trends: A Primer for Financial Brands

Posted by Chelsea Fisher

Jun 2, 2017 11:00:00 AM

As a marketer working in the financial sector, I know as well as you that our approach to marketing must be nimble if it’s going to keep up with product innovations, disruptive technologies, and the ever-changing demands of customers. It’s a daily battle to stay current!

That’s why I recently attended a marketing conference heavily focused on digital marketing. The event brought together some of the sharpest, most creative minds in the business to provide inspiration and practical advice. It was information too good not to share.

So, here are my takeaways from the conference, a primer on the latest digital marketing trends, fully applicable to the financial space.

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Topics: Commercial Lending

The Bank – Business Disconnect ... What is Your Application Process Saying to Borrowers?

Posted by Corey Jaeger

May 19, 2017 11:00:00 AM

In today’s highly-connected, technological landscape, you probably think your financial institution is already providing everything that small business owners are looking for. Right? I mean, when you consider the incredible innovations in recent years, there can’t possibly still be gaps.

Well, the data is telling us otherwise.

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Topics: Commercial Lending

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