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The Partnership Series – Volume Three: Fintechs, Big Data, and Third-Party Risk Management

Posted by Guest Author

Fri, Feb 07, 2020 @ 08:30 AM

As discussed in previous posts in this series, the degree of collaboration within a financial institution’s technology partnerships will play a significant role in determining future success.

While there are advantages to partnering with fintechs and other third-party vendors, increasing the number of these relationships comes with its own set of strategic, tactical, and regulatory challenges.

How do you overcome third-party vetting challenges and scale your vendor risk management program to accommodate more dynamic partnerships?

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Topics: Commercial Lending, Fintech, Data and Analytics

Liquidity Concerns on the Horizon?

Posted by Brandon Baker

Wed, Nov 13, 2019 @ 10:01 AM

My seven year-old son wanted a really scary costume for Halloween this year. Naturally, I suggested one of the scariest things I could think of: a liquidity crisis! Can you imagine the terrified looks on the faces of the other children when they saw all the red numbers indicating that funding sources weren’t going to meet the funding needs? Oh, the horror!

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Topics: Data Management, Risk/Fraud, Data and Analytics

Exploring the Natural Evolution of Commercial Lines of Credit

Posted by Paul McCulloch

Fri, Sep 06, 2019 @ 11:00 AM

The commercial line of credit is evolving, for two reasons. First, because it’s time. Second, because it can. The current expansion of the U.S. economy has now become the longest in our history. As we move further into the economic cycle and a period of slower growth, it will become necessary for financial institutions to more closely monitor the condition of their business clients as well as their primary sources of repayment. Fortunately, this is coming at a time when the evolution of financial technology and data analysis has opened the door to affordable and efficient methods of doing just that. This opportunity has begun to be realized as big data organizations start merging their technology with commercial loan monitoring systems.

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Topics: Commercial Lending, Risk/Fraud, Data and Analytics

Data Protection Regulation and the Impact on Vendor Management

Posted by Jenny Roland-Vlach | Compliance Analyst, Advanced | CISM

Wed, Jul 31, 2019 @ 11:00 AM

General Data Protection Regulation (GDPR)

The General Data Protection Regulation (GDPR) has been an intimidating new reality for numerous organizations. And for good reason. For many organizations, GDPR represents an entire shift in privacy culture. For financial institutions (FIs) who process the personal data of data subjects residing in the European Union (EU), GDPR pushes them beyond what was already required by the Gramm-Leach-Bliley Act (GLBA). Much more is now required in how data is obtained, stored and processed, and even destroyed.

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Topics: Compliance, Community Banks, Data and Analytics

Innovation on Tap at FinovateSpring 2019

Posted by Nicole Harper

Wed, Jun 19, 2019 @ 11:01 AM

Innovation on Tap

Tapping the Fintech Community at FinovateSpring 2019

The city by the bay welcomed FinovateSpring in May at San Francisco’s Hilton Union Square. Innovation was on tap with 60 fintech demos, presentations from industry thought-leaders, strategy roundtables, and more. The Finovate conference series continues to be where you can see the future of fintech first.

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Topics: Fintech, Future Ready, Data and Analytics

Why Backup is a Critical Part of Your Cybersecurity Strategy

Posted by Eric Flick

Wed, Jun 05, 2019 @ 11:05 AM

It is often overlooked, but it is important to note that backup is a critical part of your cybersecurity strategy. What does backup have to do with your cybersecurity strategy? Backup is a back-office process. Cybersecurity is a frontline approach.

Although there are several frontline and defensive-minded approaches that are more critical than backup, backup is often overlooked. It’s an important part of your multi-layered approach to cyber readiness.

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Topics: Cybersecurity, Community Banks, Data and Analytics

The Final Four – Developing Your Winning Strategy for New Technology

Posted by Matt Meehan

Wed, Mar 20, 2019 @ 11:00 AM

Reaching the Final Four requires both teamwork and effort. As John Wooden famously stated, “It’s not how big you are, it’s how big you play.” Community-based financial institutions can certainly relate to that sentiment. The fact is, playing big often translates into leveraging the technology of third-party vendors to help ensure your success and to bring the latest technology to your game without having to develop it internally.

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Topics: Commercial Lending, FI Operations, Data and Analytics

Tools of the Trade Series, Part Four - Creating Efficiencies Throughout the Life of the Lending Relationship

Posted by Patrick True

Fri, Mar 08, 2019 @ 07:00 AM

In part three, we discussed how technological innovations have changed the landscape of loan origination in recent years. That, in fact, has been where most tech investment in commercial lending seems to have been directed. But loan origination is just the beginning. So much more can be done to create efficiencies throughout the life of each lending relationship. As in the case of loan origination, these efficiencies will streamline the efforts of both borrowers and lenders and create a richer experience.

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Topics: Commercial Lending, Fintech, Digital and Community Banking, Digital, Community Banks, FI Operations, Data and Analytics

5 Ways to Get the Most Out of Your Data

Posted by Strategically Speaking

Wed, Feb 27, 2019 @ 11:00 AM

 

Data is indispensable. With it, you can make informed decisions to increase customer retention, employee satisfaction, and revenue. Without it, you’re risking your profitability, your performance, and in some cases, your credibility with customers, staff, and board.

But just having data isn’t enough. You need to know how to get the most out of it. Because if you’re still performing manual report processes or cobbling together data from various sources within a spiderweb of spreadsheets, you’re missing out on a significant amount of those key data points. And your leaders can’t make informed decisions because they’re only getting a portion of what they need … and the information they are getting, they’re getting too slowly.

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Topics: Credit Unions, Financial Institution, Community Banks, Data and Analytics

Data Analytics: What's the Hype About?

Posted by Jennifer Geis

Tue, Feb 05, 2019 @ 11:00 AM

 

There is no doubt that we live in a world full of data, and it’s multiplying at astounding rates. With the advent of the internet and our love affair with social media, the amount of data is increasing like never before. It is shocking if you stop to think about how much data is being created every minute of each day. From streaming videos, social media posts, online searches, emails and texts, to banking and payment transactions, the examples go on and on.

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Topics: Data Management, Community Banks, FI Operations, Risk/Fraud, Data and Analytics

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