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10/16/2018

On a Roll: High-Performing Banks Forecast Frequently

How will your board react when they see your end-of-year numbers? Pleasantly surprised? Shocked? Neither reaction should occur if you regularly prepare a rolling forecast. A rolling forecast, according to the Corporate Finance Institute (CFI), is a type of financial model that predicts the future performance of a business over a continuous period, based on…

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10/15/2018

Amazon Insurance & The Consumerization of Payments

Last month, Mr. Bezos officially entered India’s insurance market. The rumors swirled all summer, especially after Amazon’s acquisition of PillPack, an online pharmacy that’s giving brick-and mortar-operations a run for their money If Amazon could eventually master the payment processing complexities of the medical industry, why couldn’t they consider the insurance market? Some insurance experts…

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10/15/2018

Trust, But Verify: System and Organization Controls (SOC) Reports

What is a SOC report and why do service providers pay to have one completed? Financial institutions (FIs) are regulated by the Federal Financial Institutions Examination Council (FFIEC). The FFIEC is composed of five banking regulators responsible for establishing consistent guidelines and uniform practices and principals for FIs. Simply stated, the FFIEC wants to ensure…

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09/24/2018

Social Media Policies: Four Steps to Effectiveness

  Note: Nothing in this post is legal advice and should not be construed as such. As of March 2018, there are more than 3 billion social media users worldwide. It’s a certainty that at least some of those users work for your organization. These users, and all your employees, need to know the rules…

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09/20/2018

Plugging Into Charities Can Drive Market Awareness

Most financial institutions are used to donation requests throughout the year from a large number of diverse and well-meaning charitable causes. Many contribute to a large number of these causes (which is not necessarily a negative thing). However, savvy financial institutions should look for some type of return on their charitable donations investment. This will…

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09/12/2018

How Commercial Banks can Stop Leaving Money on the Table

How much money are commercial banks leaving on the table? The answer may shock you. The disconnect between the product and sales teams at most banks can cost a bank more than 50 percent of its potential sales for treasury management products. Skeptical? Let’s use Remote Capture as an example. Remote capture penetration varies wildly across banks….

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09/12/2018

Why Integrated Receivables Solutions Are Vital To Sustaining Your Bank’s Lockbox Franchise

Today, you will be hard-pressed to find an industry analyst that isn’t proclaiming that Electronic Invoice Presentment and Payment (EIPP) adoption is growing in the United States. Or that checks represent a (slowly) declining percentage of business-to-business payments. For the most part, would-be affected parties didn’t put much stock in these predictions. There are many…

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