JHA_HeaderImage_Blog_v2.png

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. 

Read More

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

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.

Read More

Topics: Financial Services Industry, Commercial Lending, 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.

Read More

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

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.

Read More

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

Small Businesses … Big Opportunities

Posted by Susan Griffin

May 31, 2018 8:23:15 AM

 

Small to midsize businesses (SMBs) have finally caught the attention of financial institutions (FIs), which now realize that serving this market provides an opportunity to generate untapped revenue. There are 30.2 million small businesses, which represents 99.9% of all businesses in the U.S; and according to the SBA’s Office of Advocacy, they employ 47.5% of the U.S. workforce.

Read More

Topics: Credit Unions, small business, banking, financial institution

Mobile Banking Trends Continuing to Rise

Posted by Hannah Day

May 16, 2018 11:00:00 AM

It’s no secret; mobile banking is a requirement for financial institutions (FIs) today. In 2017, we noticed a few key trends that set the stage for where we are today. These trends are; enhanced customer experience via the mobile device, new authentication methods, and big data.

Read More

Topics: Customer Experience, Mobile Banking, Credit Unions, big data, banking, technology, user experience

FinTech vs. BigTech and What Community FIs Should Know

Posted by Jennifer Geis

May 2, 2018 11:00:00 AM

Fintechs emerge

There’s always been a lot of competition in the banking business. Big banks, community banks, credit unions and eventually online-only banks compete for market share, investor dollars, and  consumer trust. Back in the early 2000s, the notion of focused Fintechs emerged. PayPal was one of the first true Fintech firms. It received its first wave of funding in 1998 and later launched a mobile payment platform specifically for Palm Pilots and PDAs (personal digital assistants). Remember those? In addition to PayPal, other early Fintech players included Mint and Square. Mint created a personal finance management dashboard in 2006 and Square launched a mobile point-of-sale terminal in 2009.

Read More

Topics: Credit Unions, fintech, banking, financial institution, API, bigtech

Banking on Budget: Why You Should Integrate a Personal Finance Management Tool

Posted by Molly Mantei

Apr 25, 2018 11:00:00 AM

Dear Financial Institutions,

How would you react if I walked into your bank or credit union and said, “I’d like to create a budget and track my spending in your online banking and mobile app. Can you help me get started?” Would you smile as you showed me where to access your personal finance management (PFM) tool, or would you dab at your beads of sweat as you explained that you don’t offer anything like that?

Read More

Topics: Customer Experience, Mobile Banking, Online Bill Pay, Credit Unions, digital survival, banking, financial institution

M Is for Machine Learning -  Not Magic

Posted by Patty Moore

Jul 5, 2017 11:30:00 AM

Several of my colleagues and I recently had an opportunity to visit the Microsoft campus in Redmond, WA to meet with their data scientists and SQL Server 2016/ SQL Server R Services experts. Our objective was to collaborate on the machine learning models we are developing for our Advanced Reporting for Credit Unions™ (ARCU) business intelligence solution.

While machine learning algorithms have been around for quite some time, our team is looking to productize and operationalize predictive models for 240+ Jack Henry/Symitar customers. Predictive analytics is an area of data science that is getting more and more attention.

Why? Companies have accumulated a breadth and depth of available data and they want to maximize their investment by generating predicted outcomes that will help them make better decisions and take faster action.

Read More

Topics: Credit Unions, Tomorrow's Technology

3 Ways Credit Unions Can Make Their MBL Troubles All but Disappear

Posted by Jonathan Patrick

Dec 7, 2016 11:30:00 AM

Some credit unions didn’t get the news they wanted regarding recent changes by the National Credit Union Association (NCUA) to the Member Business Lending (MBL) regulations. The announcement included the removal of the requirement for personal guarantees from business loan borrowers. What the announcement didn’t include, to the chagrin of some credit unions, was the removal of the so-called “MBL cap.” If you aren’t familiar with this part of the regulation, Section 723.16(a) states “The aggregate limit on a credit union's net member business loan balances is the lesser of 1.75 times the credit union's net worth or 12.25% of the credit union's total assets.”

Read More

Topics: Regulatory Compliance, Credit Unions

Subscribe to Email Updates

Untitled Document Untitled Document

Recent Posts