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

Improving Your Institution’s Readiness and Your Next IT Exam Results with One Simple Strategy

Posted by Eric Flick

Sep 28, 2016 10:15:00 AM

Sounds too good to be true, doesn’t it? I promise, this isn’t one of those teaser or click-bait headlines just to draw you to something not really related to the topic. And, for those that know me, know that I deplore that strategy. In the case of this article, the title seemed very appropriate, both from a descriptive standpoint, and in an effort to entice both IT managers and executives to check out this simple strategy.

Ladies and gentlemen, I give you two words that could change your life: progressive testing. That is not intended to sound over dramatic, but for many of us, it is a dramatic shift in the way we approach our annual business continuity and disaster recovery testing.

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Topics: Cybersecurity, Business Continuity

Data Integration Key to Successful CECL Compliance Strategy

Posted by Patrick True

Sep 23, 2016 3:00:00 PM

Now that FASB Topic 326 - Financial Instruments – Credit Losses has been released, the real work begins. Financial institutions are beginning to perform due diligence internally and with vendors. Regulators are beginning to review the FASB standard to determine how they will address future reviews. Third-party vendors from core providers to specialty enterprise risk management firms are also fine tuning their services. A review of the new accounting standard will quickly lead us all to one key element necessary for success – data integration.

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Topics: Commercial Lending

The Right Inputs

Posted by Bryan McCarty

Sep 21, 2016 10:00:00 AM

When you’re a product manager building a platform that involves a mix of enterprise B2B and also B2BC products, the number of opinions you receive – whether you want them or not – can be overwhelming.

We don’t always hear directly from end-users, but we do hear from the businesses, or clients, who purchase our products. Often, clients present us with a smattering of feature requests that represent a portion of their end-users’ pain points. These requests also include their own ideas and features they see from competitors. The ideas coming from clients is only a portion of the forces at play. Product managers also face internal pressure from sales, operations and engineering. It’s the job of the product manager to assess all these inputs and find the greatest good.

With a continuous funnel of opinions, how do product teams ensure they appropriately prioritize what’s next to work on and not simply react to the latest, or loudest, request?

I believe product teams creating the most impact do so by understanding the right inputs. These teams not only ship successful products, they create new waves of innovation that leave other product teams grasping to catch on.

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Topics: Information Technology, Customer Experience

Do You Need a Professional Brand?

Posted by Shane Purnell

Sep 14, 2016 10:30:00 AM

Remember 10 years ago when only narcissists and celebrities searched their names on the Internet? Wow! Have times changed. Now over 56% of people Google themselves (Search Engine Land) and 60% of employers say they do social media searches on potential employees (PR NewsWire).

More and more, who we are online is equated with who we are in real life. Even if you’re a great person, people are making assumptions about you and your professional abilities based on what they’re seeing and reading about you. The scary part is, it’s happening before they ever meet you.

So how do we make sure we put our best professional foot forward in this digital world to ensure we’re seen the way we want to be seen? To me, the answer seems obvious. We need to intentionally and unapologetically create professional brands for ourselves. I realize, however, not everyone sees the merit of this idea, so I asked for help making my case.

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Topics: Marketing

Partner with Alternative Lenders … Why Would I Want to Do That?

Posted by Mark Messick

Sep 9, 2016 1:00:00 PM

Much has been made of the competition between financial institutions and alternative, non-regulated lenders for small business loans. A short-sighted view assumes that all of these alternative lenders are the same. In reality, while certain groups tend to look and market similarly, very few of them in the grand scheme actually do the same things. Unfortunately, that fact has been lost because the overwhelming amount of information over the last couple of years has been about “online alternative lenders.” That very narrow focus has provided a disservice to community-based lenders that would like to be able to help their clients but are struggling to balance being helpful versus seeing their customer gouged by higher-priced alternatives. And while many of the “Johnny-come-latelies” are out to disrupt the market and pick the pockets of FIs, there are many others who want to complement what FIs do.

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Topics: Commercial Lending

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