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How community banks can win the battle for deposits

Joseph Lowe
Posted by Joseph Lowe

Across the country, community banks are facing an increasingly relevant problem: Large banks are winning the battle for deposits. From 2013 to 2017, total deposits fell at banks with $1 billion or less in assets by 7.5 percent as total deposits at banks with $1 billion more in assets increased…...

Economic forecasting for CECL: Still plenty of questions among institutions

Amanda Rousseau
Posted by Amanda Rousseau

Economic forecasting is a major facet and discussion point of the quickly approaching current expected credit loss (CECL) model. Financial institutions will not only have to report incurred losses on their books, but they will also need to project their loss estimates over the entire life of the loan at…...

Think twice before using spreadsheets for these tasks

Kylee Wooten
Posted by Kylee Wooten

Financial institutions, small and large, touch numerous data sources every day, which can present problems when each data source speaks a different language, preventing different systems – or even departments – from obtaining the same data. Exacerbating this problem of inconsistent data, many community banks and credit unions are still…...

What do borrowers want?

Joseph Lowe
Posted by Joseph Lowe

There’s no shortage of information available on banking best practices, but these articles tend to leave banks and credit unions wondering what exactly accountholders’ expectations are and what specific processes can be improved to meet them. One clear trend may serve as a guiding light for financial institutions hoping to…...

CECL paralysis: How to avoid common implementation hurdles

Amanda Rousseau
Posted by Amanda Rousseau

Financial institutions across the U.S. are grappling with the many changes that will be required to implement the current expected credit loss, or CECL, model. With the extensive amount of time, resources and staff required to successfully transition from the incurred loss model, even getting started can be daunting. During…...

Sageworks’ LeCorgne shines at BAI Beacon

Mary Ellen Biery
Posted by Mary Ellen Biery

Financial institutions can profitably reclaim their small business lending market by using technology to add speed and efficiency to the lending process, Sageworks Vice President of Banking Neill LeCorgne told banking industry leaders during the BAI Beacon Conference in Orlando, Fla., recently. LeCorgne, the former president and director of a…...

The pros of loan spreading software

Joseph Lowe
Posted by Joseph Lowe

Discovering insights from data can be the difference between a defensible loan portfolio and a vulnerable one for financial institutions. Yet, community banks and credit unions that cannot afford dedicated data entry specialists must rely on time-strapped lenders, credit analysts, or loan administrators to complete data entry during loan spreading,…...

How to increase cybersecurity awareness at your institution

Kylee Wooten
Posted by Kylee Wooten

October may be National Cybersecurity Awareness month, but the emphasis put on safeguarding customers’ digital data should be a top priority no matter the time of year. In 2017, nearly half of the population had their data exposed after the Equifax breach. By the mid-point of 2018, there were already…...

Survey: Most banks are collecting, analyzing CECL data

Mary Ellen Biery
Posted by Mary Ellen Biery
data for bankers

Community bankers in the throes of implementing the current expected credit loss model, or CECL, are generally collecting and analyzing data at this point in the process, according to a new survey on banks' CECL status. Learn more about navigating the CECL transition. Request More Information » In the 2018…...

Two ways your financial institution should focus on customer service

Joseph Lowe
Posted by Joseph Lowe
mobile-borrowers-online-checking-account

The last time you received poor customer service from a business, what did you do after? If you’re like most people, you probably expressed your thoughts to your peers. In fact, 58 percent of people inform friends and family about a negative customer experience according to a Salesforce report. It…...