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Be a FinTech Contributor

Posted by Danny Payne

Jul 19, 2018 11:00:00 AM

I truly enjoy industry publications, posts (like this one), and participating in financial technology conferences. I actually wrote a “Strategically Speaking” post titled, The Value in FinTech Conferences, about the true value of participating in, and not just attending industry events. It’s great to sit out in the crowd, listen, learn, absorb, and move on. Isn’t that what most of us do? We get excited, agree with the points the speaker or panel are making, and go back to do the same thing we always did. 

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Topics: Financial Services Industry, Credit Unions, fintech, banking, financial institution

Consider a GPS for Your Commercial Loan Portfolio

Posted by Patrick True

Jul 13, 2018 10:15:00 AM

 

Anyone who has spent time travelling or hiking sometime over the last ten years has witnessed an impressive increase in the use of global positioning systems (GPS). These devices and phone apps have become invaluable to folks who spend a lot of time moving from one place to another. The concept of GPS has also worked its way into other automated systems.

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Topics: Relationship Management, Commercial Lending, Customer Experience, fintech, banking, technology, user experience

Big Business in Small-Dollars

Posted by Mark Messick

Jul 11, 2018 11:00:00 AM

 

Perhaps you saw the bulletin issued recently by the OCC encouraging financial institutions to make small-dollar, short-term, consumer loans.  I did and for me it points to a big hole in the traditional lending net that needs to be mended (and not by credit card offers).  While our topic today doesn’t deal with consumer lending outright, the bulletin reminded me of three great reasons why today’s financial institutions should consider offering small-dollar loans to businesses.

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Topics: Financial Services Industry, Loan Pricing, Small Business Market, Credit Unions, small business, banking, financial institution, loans, consumer

The Impact of the New Reg CC Indemnity on RDC Services

Posted by Kevin Moland

Jul 3, 2018 11:00:00 AM

 

As of July 1, Reg CC will provide a new indemnity designed to protect financial institutions (FIs) that receive malicious duplicate presentment of paper items previously deposited at another bank or credit union via remote deposit capture (RDC). If your FI is the initial recipient of an item deposited via traditional commercial RDC or consumer mobile RDC (mRDC), should that same paper item later be presented for deposit at another FI, and should that FI sustain a loss due to the item already being paid, you must make the other FI whole, including reimbursement of reasonable expenses for collection.

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Topics: Mobile Banking, Regulatory Compliance, Credit Unions, banking, RDC

Mobile Services--Not Just for Borrowers Anymore

Posted by Patrick True

Jun 29, 2018 12:02:00 PM

Commercial lending officers have witnessed mobile banking changing the landscape of general banking services in the last five years. In a recent study, CitiBank estimated a 25% increase in use of mobile banking during 2017. Each year, more clients request greater access to both informational and transactional services through their phones and tablets.

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Topics: Relationship Management, Commercial Lending, Customer Experience, Mobile Banking, fintech, banking, technology, user experience

Three Ways Financial Services Leaders Can Improve Talent Management

Posted by Strategically Speaking

Jun 27, 2018 11:00:00 AM

Talent management is one of the most important elements in driving a healthy financial services industry.  Because banking is no longer viewed as one of the most “attractive” industries, financial service organizations are now competing both inside and outside of the industry when recruiting employees.

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Topics: Financial Services Industry, talent acquisition, banking, financial institution

Are You Ignoring Your Core?

Posted by Pete Major

Jun 20, 2018 11:00:00 AM

 

All systems require some type of regular investment (time, money, sweat, and maybe even some tears) and this is particularly true for your core system. Whether you use a service bureau or you have an in-house system, it’s easy to think that once you convert to a new system your job is done. But with any system, it’s important that you stay up to date. Things are changing at a dizzying pace in this industry and your financial institution (FI) needs to stay at the forefront. Here are some tips and tricks to help you stay current with your core.

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Topics: Information Security, Risk Mitigation, Cybersecurity, software, banking, financial institution, technology, Core

The Six Primary Benefits of Digital Lending Platforms

Posted by Patrick True

Jun 15, 2018 1:30:00 PM

No one knows the exact date the digital lending movement began. One thing everyone can agree on is that its roots date back to the dot-com era of the late 1990s – starting with mortgage lending and moving toward consumer lending. In the more recent, post-recession years, the movement has been advancing into small business and commercial lending.

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Topics: Relationship Management, Commercial Lending, Customer Experience, Mobile Banking, fintech, banking, technology, user experience

CECL: Not all models are created equal…

Posted by Brad Dahlman

Jun 13, 2018 11:30:00 AM

A lot has been written about the new Current Expected Credit Loss (CECL) changes which will affect FIs in the coming years. This is one of the largest changes to FI financial reporting and credit risk management in decades and certainly warrants ongoing conversations.

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Topics: Risk Mitigation, Credit Unions, Risk Management, CECL, banking

Lending at the (New) Speed of Business

Posted by Patrick True

Jun 1, 2018 1:30:00 PM

 The length of time it takes for a financial institution to render a credit decision will vary widely across organizations as well as loan types. While small working capital obligations and unsecured debt may take only a day or two, commercial real estate and SBA loans can take several weeks for a decision and over a month to close.

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Topics: Relationship Management, Commercial Lending, Customer Experience, Mobile Banking, fintech, banking, technology, user experience

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