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The Dodd Frank Wall Street Reform and Consumer Protection Act is a transformative piece of legislation passed in 2010; it’s a game changer for the financial services industry. That leaves you with the big question, what to do now? This article addresses the current state of the regulation, what you can expect to see in July with the release of a new disclosure, and how you can prepare your institution for the inevitable changes this legislation will bring.
What could your institution learn from the “bad” banks, those that have taken tumultuous tumbles into failure over the past several years? The answer may be: plenty. Many institutions that failed had directors who did not fulfill their real obligations. This article offers seven distinct rules for anyone who is sitting, or aspires to sit, on an institution’s board of directors.
Social media is now a fact of life. For financial institutions, ignoring it is like bypassing Internet banking because of the risk. The best defense is to approach social networking slowly and strategically, and make sure that you have written policies in place to support your entry into this expanding cyber world.
The Six Principles of Financial Transactions - Purpose, People, Performance, Payment, Protection, and Prospects - can be used to assess a complete customer relationship consisting of one or more transactions across multiple lines of business. How can you apply these principles to help your financial institution reach its goals?
In today’s mobile society, self-service channels bring convenience and anytime access to increasing numbers of consumers. But, these online channels also attract the attention of something more sinister — criminal groups who develop new ways to commit fraud. What can you do to effectively protect your consumers and your institution from harm?
Leading up to the game-changing financial crisis in 2009, community banks dramatically increased participation in commercial real estate (CRE) secured lending, and regulators have taken notice. They now are strongly encouraging banks with high concentrations of CRE to implement a little preventative medicine of their own – in the form of monthly stress testing and portfolio testing.
Although traditional risk rating models worked 30-years ago, they don’t provide the insight needed to succeed in the financial services world today. Models are beginning to change, bringing new transparency to loan portfolios and enabling institutions to make better lending decisions. There are a few emerging trends driving this risk rating evolution.
If you think of bill pay only as table stakes in an increasingly self-service world, you’re missing out on a big opportunity. Growing your bill pay adoption is one of the best, most cost-effective ways to retain your customers and members.
The next evolution of self-service delivery is P2P payments, the ability to transfer funds between one person’s account to another person’s account. It seems like a small thing, but it brings a big opportunity to financial institutions, ranging from fee income to enhanced consumer loyalty. What should you consider when adding this option to your Internet or mobile banking offering?
We’re in the midst of a societal shift, where people – of almost every generation – are choosing self-service channels as the primary way they interact with companies, including financial institutions. What do you need to consider as you build or expand your self-service strategy?