If your bank has ever been through a core vendor change, you know converting is an intensive process that requires countless hours and numerous resources. But, when contract renewal rolls around, you should still ask yourself, “am I happy with my core banking provider?”
Arguments for greater transparency in legal entity ownership have been stacking up for some time. In 2014, the G20 issued its High-Level Principles on Beneficial Ownership Transparency, a pact amongst member countries to improve such transparency and recognize its importance in protecting the global financial system.
If you’re like most bankers, you still get confused when it comes to model risk management. Why are examiners asking my bank to validate a model? What guidance should my bank follow? And what are the board’s responsibilities?
Community financial institutions focus on the future by planning, forecasting, considering customer delivery preferences and assessing risks before they occur. Good thing … America is in the midst of the 2016 election cycle, and your institution should be planning now for possible exposure to a risk that’s lesser known and not often discussed—political risk.
Your customers want transactions completed quickly and securely. That’s why the influx of digital payment options has many consumers looking for the next fastest alternative. And while they don’t always care how it works—you should. Here’s why.
Engaging the millennial generation is a challenge and necessity for all businesses—especially those in the financial industry. Millennials are about to reach their peak earning years. Plus, they’re reaching some of life’s biggest moments, like home ownership and parenting.
Commercial customers are increasingly using technology to more effectively and efficiently manage their money and process payments. And by leveraging treasury management products and cash management solutions, those customers can save time and reduce employment expenses associated with managing the financial aspects of their businesses.
From Apple Pay to Walmart Pay, alternative payment options have flooded the financial industry. But not all options are created alike.
“Like a gentle breeze, culture may be hard to see, but you can feel it.”
That’s William C. Dudley, president and CEO of the Federal Reserve Bank of New York, encapsulating the difficult task of entrenching cultural values within banks.
In today’s financial industry, banks face shrinking margins and customers have a myriad of options for financial services. Financial institutions looking to find the key to growth and continued success must take new approaches and look beyond offering traditional bank services.