We have all been there. A board reporting deadline looms and you are waiting on “Jacob” to provide his quarterly charge-off numbers. You are down to the wire and send him a quick email asking for an update. Within seconds, you receive an “out of office” message stating he will be gone through the end of the week. WHAT? [Continue]
It has been a slog for the industry to get to this point, and while the credits are appreciated, the environment was still better in the 1990s when many banks paid no premiums at all. But given how much things have changed in the last 25 years, the post-crisis premium structure seems appropriate. [Continue]
President Donald Trump’s ongoing trade war with China is taking its own toll on the ag industry. But it has come at a time of unprecedented weather events, and the phenomena are a one-two punch. [Continue]
In “Bull by the Horns,” former FDIC Chair Sheila Bair notes morale at the agency increased dramatically under her leadership during the financial crisis, with it even being recognized as a “best place to work.” [Continue]
Can regulators reduce the regulatory burden for bankers without hurting industry safety and soundness or weakening consumer protections? Two FDIC chairs — one former, one current — shared comments that addressed that question during recent forums in Minneapolis. [Continue]
Chatbots and digital assistants are everywhere. Start typing questions in a chatbox on a website, and there’s a good chance you’re not conversing with a living, breathing human. The truth is chatbots save companies money. But why are so many of them “female?” [Continue]
Amazon has totally transformed the retail landscape, including the supply chain and expectations of customers who want things immediately. Bankers trying to differentiate in a crowded marketplace are increasingly committing themselves to a service standard that clears the Amazon baseline. [Continue]
Was anyone surprised when the Fed announced August 5 it would create a real-time payment and settlement service? The Fed has been the backstop clearing house for payments for more than a century; the evolution of those payments to digital is no reason for the Fed to back away from the crucial work of facilitating payments and settlement. [Continue]
Technology should provide advantages to every user — bank employees, advisors and clients. Technology is flexible, which enables the incorporation of traditional options like paper quarterly reports. It can enhance the relationship with an advisor but is unlikely to completely replace it, and that’s where Sawtooth comes in. [Continue]
Hopefully this peace time will continue. However, in case it does not last, it is wise to consider steps that can be taken now to avoid (or at least mitigate) financial stress, which could lead to the need to sell your institution or take on partners. [Continue]