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The Five Keys to Designing an Ideal Software User Experience

Posted by Mark Messick

Fri, Aug 09, 2019 @ 07:30 AM

At some point during our careers, most of us have had experiences working with both good and bad software systems. While it’s sometimes difficult to pinpoint exactly what determines your satisfaction level with a system, one thing is certain: You know a good one when you use it. But what is it that separates great design from poor design? When designing software for your organization, or evaluating the purchase of a third-party system, what are the key factors to consider? In all systems, no matter what industry they are meant to serve, there are five key steps to consider during the design phase of the project.

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Topics: Commercial Lending, User Centricity

Aggressive Competition for Core Deposits

Posted by Craig Laures

Wed, Aug 07, 2019 @ 11:00 AM

From January 1, 2019 through June 30, 2019 I’ve enjoyed meeting face to face with 172 community financial institution (FI) executives and managers representing 91 FIs. These FIs are diverse with total assets ranging from $31 million to $2.15 billion, various charters and specialties. These FIs are found in the smallest communities as well as large metropolitan markets and every size community in between. We discuss, in varying levels of detail, their objectives, initiatives, and projects important to the FI’s success. While each conversation is unique, the struggle to sustainably grow deposits seems to rise to the top as one of the most pressing issues during the past six months.

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Topics: Commercial Lending, Credit Unions, Community Banks

Four Lessons We Can Learn from Online Lenders

Posted by Patrick True

Fri, Jul 26, 2019 @ 07:45 AM

Each year, the New York Federal Reserve releases a valuable survey that sheds light on the mindset of business owners and their borrowing preferences. Surveys conducted in the past three years point specifically to both the challenges and opportunities community-based lending institutions have in competing with non-chartered online lenders. Here are the key takeaways from the 2019 survey.

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Topics: Commercial Lending, Digital

Leveraging Digital Lending Technology to Create Stronger Client Relationships

Posted by Gary Lewis

Fri, Jul 12, 2019 @ 08:26 AM

While it’s relatively easy to prove that new lending technology can create operational efficiencies, you may not feel that it can make relationships stronger. In fact, some people feel exactly the opposite. Many lenders have resisted technological advancement associated with loan origination and underwriting, fearing that they will negatively impact the face-to-face experiences lenders have with clients. Most of us have been conditioned to think that technology simply produces gains in efficiency that help organizations save time and make more money. Up until this point, it has been about the ROI.

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Topics: Commercial Lending, Fintech, Digital

Best-In-Class Series, Part Four - Portfolio Management

Posted by Kristin Zell

Fri, Jun 28, 2019 @ 06:52 AM

Portfolio management should not only be about using data analytics to monitor risk, but also as a tool to fuel portfolio growth.

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Topics: Commercial Lending, FI Operations

Best-In-Class Series, Part Three - Creating Sales Champions

Posted by Richard Owens

Fri, Jun 14, 2019 @ 07:00 AM

There is an art to creating a sales culture within your organization. When done well, you create a cohesive team that transcends the efforts of individuals, where each is motivated by and through the success of the others. In the field of commercial lending, there are some unique challenges when building your team.

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Topics: Commercial Lending, FI Operations

Best-In-Class Series, Part Two - Hiring Commercial Lenders

Posted by Gary Lewis

Fri, May 31, 2019 @ 07:00 AM

Of all the challenges facing financial institutions today, competition for commercial lenders ranks among the highest. The issue has been addressed in multiple articles, most notably the 2016 Bank Director magazine study indicating that the recruitment of loan officers was the number one issue for 40% of CEOs.

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Topics: Commercial Lending, Digital, FI Operations

Best-In-Class Series, Part One - Attracting Small Business Clients

Posted by Bill Roen

Fri, May 17, 2019 @ 12:36 PM

 A common goal of every financial institution in the country is to attract and retain good clients. For many, this includes a focus on the small business community. There are more than 30 million small businesses in the United States. How do you attract them to your institution?

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Topics: Commercial Lending, Small Business, FI Operations

Building Small Business Relationships in the Digital Age

Posted by Susan Griffin

Fri, May 03, 2019 @ 09:00 AM

Next week is National Small Business Week. As we celebrate the success of small businesses in our local communities, we’re seeing the number of financial service providers increase in a market that was once only served by traditional banks and credit unions. This has created a battle for market share like we’ve never seen before. The biggest differentiator that incumbent financial institutions have always been able to claim is that their business is built on relationships. Used to be, when a customer had a need relating to finances, they knew their bank was there for them.

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Topics: Commercial Lending, Digital, FI Operations

Tools of the Trade Series, Part Six - Automating Loan Renewals for Future Growth

Posted by Patrick True

Fri, Apr 05, 2019 @ 07:00 AM

We have reached the last segment in our Tools of the Trade series, but in many ways, it is the most important. The act of renewing a loan or line of credit represents the continuation of an existing relationship. While it may not generate as much income as a new loan request, it supports an existing revenue stream and opens the door to future growth.

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Topics: Commercial Lending, Community Banks

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