There has been a hole in the American financial regulatory system with its light- to no-touch regulatory environment for large nonbank financial institutions. A March proposal by a panel of regulators that nonbanks should be regulated only by their activities in business sectors could make that hole yet bigger. [Continue]
“One of the most important features is people who flex to their team,” says Jessica Nollett, discussing effective leadership. Nollett, vice president, business banking team lead at the Overland Park, Kan., office of Clayton, Mo.-headquartered Enterprise Bank & Trust, feels strongly that leadership is about authenticity, pragmatism and helping team members discover their individual strengths, which will enhance the group as a whole. [Continue]
It used to be that the banking regulatory community gave you a pass on having a formalized and documented ERM program within your organization, but the tide, as they say, has turned. [Continue]
Chris Rentner, director of digital lending for Velocity Solutions, LLC and founder and former CEO of Akouba, remembers a time when digital lending for banks seemed like a pipe dream. “If I look back at 2015 when the company [Akouba] wasn’t really even being promoted, everyone was telling us that we were crazy,” he said. “Digital lending at banks? No, OnDeck and Kabbage are going to do that.” [Continue]
People have long talked about the demise of banking. And in the last decade, talk has ramped up on the decline of print media. Of course these industries are changing, and it is likely these industries will move to a fewer number of larger players. But these industries are not going away. In the right niches, banks and newspapers remain important providers of essential services. [Continue]
In the future, it is predicted that bankers with the best understanding of behaviors and emotions will create a new landscape for personal banking. Understanding that delicate interface where electronic machine-banking meets the customer’s need for authoritative human interaction will lead to a new chapter in relational banking. It will be light on human touch [Continue]
As fintech opportunities evolve, staying on top of the latest trends, offerings and regulations requires keeping a finger on the pulse of the industry – or perhaps an ear tuned to the right podcast. [Continue]
The idea that only The Clearing House should provide real time payments and that competition from the Federal Reserve banks or others would hinder progress is wrong and inconsistent with over 100 years of experience. If we are to use history as a guide, evidence shows that having the Federal Reserve banks operating within the payments system has tremendously benefited the public. [Continue]
Patterns of behavior, including how a customer feels — their emotional state when they are interacting with banking professionals — is valuable information in creating successful transactions and relationships. If bankers know the behavior of a group inside of its customer base in data-analytical terms, and know how their customers feel when they are interacting with their financial selves, it makes it easier to offer products and services that the customer may not know exist. [Continue]
Some people may think that being a leader is an easy task and it’s not. They only focus on the outside, perceived benefits of leaders such as the big titles, having people reporting to them, making the big decisions for the companies they lead, and usually having a high salary. [Continue]