What You Post Could Make You UninsurableRead the rest of this entry »
The insurance industry is beginning to explore how checking your social media posts might be used to set rates for everything from auto insurance to life.
Today, the technology isn't quite there. Give it a few years though, and you might just find that video of you doing a wheelie at 60 miles an hour will cause your premiums to go through the roof -- if you can even get insurance ...
Is 2019 the Twilight For Community Banks?Read the rest of this entry »
Technology may be sounding the death knell for community banking.
With 50% of the branches in the U.S., local and regional banks should be gobbling up new deposits. They're not. They're not even getting what might be considered a proportional share, settling for a mere 20% of deposit growth over the last three years.
Contrast that with the nearly 50% of new deposits that went to the three largest ...
Do Our Money Worries Predict Future Banking Problems?Read the rest of this entry »
Could consumer financial worries predict trouble for the banking industry?
That's the claim of Dr. Dan Geller and Haifa University's Prof. Nahum Biger. Writing in the Journal of Applied Business and Economics, they show "how money anxiety is a major factor impacting liquidity levels and interest rates in the banking system." Their study uses Using Geller's Money Anxiety Index as an important new variable in the predictive models.
Get Your Career In Shape For Banking's FutureRead the rest of this entry »
As banking institutions continue their struggle to be competitive, closing branches, merging, consolidating and eliminating jobs, how are you preparing?
"Banking careers are being disrupted every day due to the confluence of technology and competition," writes Jim Marous, co-publisher of The Financial Brand and Publisher of the Digital Banking Report.
He makes the point that the traditional path from hiring to management -- where longevity and loyalty made the difference ...
Compared to the CEO, CFO Pay Is StagnantRead the rest of this entry »
As CEO pay has steadily increased over the past five years, CFOs have seen only modest increases in compensation.
Corporate research and intelligence firm Equilar posted an analysis of CFO pay changes since 2013, finding that CFO median pay at the largest public companies grew by $600,000. CEO pay, however grew by a median $2 million.
"The chief financial officer is an extremely important cog in the machine that ...
5 Ways Banks Can Meet the Online-Only ChallengeRead the rest of this entry »
To remain competitive in the face of online-only financial services, banks need to reinvent themselves, and at a faster rate than ever, says an article on Payments Journal.
With more customers using mobile banking every day, no longer can a financial services company rely on branch visits to build relationships. Instead, they need to market themselves in a variety of ways and monitor social media to know what their customers ...
Fintech Day Marked a Milestone In Growth of NonbanksRead the rest of this entry »
Yesterday's first "Fintech Day" didn't make the morning news shows the way Talk Like a Pirate Day or National Donut Day (celebrated twice each year) do. And we aren't holding our breath that it ever will, but for those in banking and finance, it was a milestone of sorts.
In fact, it wasn't that many years ago that the word "fintech" first surfaced to describe the melding of ...
AI Is Helping Banks Better Understand and Retain WorkersRead the rest of this entry »
As challenging as it is these days to hire workers with the right combination of skills and talent, employers of all types are focusing on retaining the employees they have.
Banking is no exception, and as a competitive, service-sector industry, ensuring a good employee experience translates into the ever-important positive customer experience. To stay atop of employee sentiment, banks, like employers everywhere, regularly survey their workers. It can be a ...
Cyber Attacks On Finance Becoming More SophisticatedRead the rest of this entry »
Cyber attacks on financial companies are more sophisticated than those against other businesses, a likely consequence of the industry's better than average digital security.
An analysis by cybersecurity provider Lastline found that over a 30 day period "the proportion of malware displaying advanced behavior was 20% higher in the financial sector than elsewhere," according to an account on DarkReading.com. These behaviors use techniques to avoid both static and ...
4 Trends That Are Changing Recruiting in Wealth ManagementRead the rest of this entry »
Four trends are reshaping recruiting among financial firms, with long-term implications for the relationship between clients and their financial advisors as well as for the industry as a whole.
That's the reading from the recently released whitepaper, The Landscape of the Wealth Management Industry. Produced annually by Diamond Consultants, the paper surveys changes and trends in the financial management sector with a specific focus on what they mean for ...