Aug 1 – Below is a statement from Treasury Secretary Jacob Lew on the nomination of Sarah Bloom Raskin for deputy secretary.
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October 4 – Federal Reserve Governor Sarah Bloom Raskin spoke on the subject of foreclosures at the Maryland State Bar Association Advanced Real Property Institute. Her presentation, on the legal opportunities and challenges in crafting a foreclosure response. “Legal Opportunities and Challenges in Crafting a Foreclosure Response,” follows.
September 26 – Governor Sarah Bloom Raskin of the Federal Reserve addressed the University of Maryland Smith School of Business in Washington, D.C. Her speech focused on monetary policy and job creation.
April 30 – The Conference of State Bank Supervisors applauds President Obama’s nomination of Sarah Bloom Raskin, Commissioner of the Maryland Office of Financial Regulation, to the Federal Reserve Board of Governors. Commissioner Raskin will bring the important pragmatism of a regulator who understands that our economy needs a diverse financial system with local providers and decision makers and a regulatory system that supports those needs.
August 18 – The Federal Reserve Bank of Minneapolis has officially launched the Center for Indian Country Development (CICD). The CICD’s mission is to help self-governing communities of American Indians in the United States attain their economic development goals. It will build off the Minneapolis Fed’s 25-year history of working in Indian Country, which is rooted in the Federal Reserve System’s legislative responsibilities to understand and promote economic growth.
August 14 – Everest Group has released two reports featuring the firm’s new Ability | Performance | Experience (APEX) Matrix. The APEX Matrix provides an enterprise-centric assessment of companies’ customer-facing digital functionalities and their resultant business impact.
July 2 – Retail banks (including thrifts and credit unions) in the U.S. will spend nearly $16.6 billion on hardware, software, services, and internal IT staff in order to develop and implement digital transformation initiatives in 2015. And this spending on digital transformation will grow at a compound annual growth rate (CAGR) of 10.4% into 2019, according to recent IDC Financial Insights spending models.
March 12 – Cadence Bank, based in Houston, Texas, has announced enhancements to its digital platforms, including a more intuitive online and mobile banking platform and an improved website experience.
By Tom Bennett and Sarah Beth Morton
Community banks play a critical role in the success of the markets they serve with locally focused, tailored banking solutions and renowned personalized service. But despite their advantages over big box banks, many are finding it increasingly difficult to drive profit growth for several reasons. Demand for loans is tight and price negotiation is generally required. Costs are growing due to continued expenses associated with compliance and regulatory affairs. Additionally, more and more investment is needed in technology, for issues ranging from cyber security to staying relevant with digital offerings. (more…)
January 9 – IDC Financial Insights has announced the availability of a new IDC MarketScape report, Worldwide Core Banking Solutions 2015 Vendor Assessment of Regional Providers for North American Banks (Doc #FI253357), which provides valuable guidance when examining existing core banking solutions and/or planning for future investment opportunities.