04/02/2019
Explore the fundamentals and sharpen your tech savvy. Can your bank explain the ins and outs of algorithms and deep learning? Do you know your neural networks from your natural language processing? Can you spot an RPA working diligently in your office? If so, congratulations! You’re an artificial intelligence (AI) ace. For the rest of…
03/28/2019
Enhanced functionality curbs FX risk and eliminates stranded items Bangor Savings Bank, headquartered in Bangor, Maine, embodies customer experience. Founded in 1852 and driven by the motto “You Matter More”, the community bank continuously strives to create a seamless and convenient experience for the businesses and consumers it serves. Yet as a bank comprised of…
03/25/2019
It’s an all-too-familiar tale: the divide between the sales and accounting departments. Field representatives pounding the pavement to line up as many deals as they can. They’re building relationships and cultivating brand loyalty with their cash-strapped customers who have a sharp eye out for the best possible value for their dollars. The field representatives collect…
03/25/2019
Kudos to Deluxe for assembling a great roster of thought-provoking content for its Deluxe Exchange in early February. One of my KPIs for the value of such conferences is the volume of notes I’m inspired to take for future reference. I left Miami with ten pages of food for thought in my notebook—and the actual…
03/19/2019
Less than 20 percent of mid-size FIs have AI plans for 2019 Ask a banker about technology and innovation, and more than likely, you’ll hear a reference to artificial intelligence (AI). Whether it’s the promise of algorithms, the complexity of big data, or the dreaded rise of the machines, the buzz about AI makes the…
03/19/2019
Net Interest Margin (NIM) makes the world go ’round in banking. Most everyone in finance knows it measures the difference between the interest banks pay and the interest they receive. Last year, the average NIM for U.S. banks was 3.2 percent, which was up from a record low of 2.95 percent in 2014, but down…
03/18/2019
We ask a lot of our boards—sometimes more than the pay or liability risk would warrant! Fortunately, most community banks have board members who are personally engaged and invested enough to go the extra mile for your institution. To my knowledge, no one has studied this, but I expect that the higher the board’s engagement,…