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Management & Operations

How Verified Is Your Data?

April 19 — A new report from Accenture, New York, finds that many banks have not verified the validity and accuracy of their data. Banks have always held a large volume of confidential data and increasingly adding data from external, unstructured sources, and according to Banking Technology Vision 2018, 94 percent of bankers are confident in the integrity of their data sources, but 11 percent trust the reliability of their data but don’t verify it, 16 percent try to validate their data but aren’t sure of the quality of said validation, and 24 percent who do validate recognize more could be done to ensure quality.

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Digital Personal Banking Is Growing, but Business Banking Lags Behind

April 17 — According to the 2018 State of Digital Sales in Banking Report — published by Avoka, a Denver, Colo., and London-based provider of customer acquisitions in banking — nearly 50 percent of the worlds’ banks have entered the “Digital Promised Land,” with 69 percent of products in the personal banking sector now being applied for online.

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Loan Growth a Top Priority for Community Banks in 2018

April 16 — In 2018, financial institutions can expect to focus on expanding loan portfolios, with community banks especially keen on generating commercial loans and credit unions working to generate consumer loans. These findings come courtesy of the Cornerstone Advisor’s What’s Going on in Banking report (sponsored by Baker Hill), which states that one in five institutions will add a new or replacement loan origination system this year.

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Banks Need to Get Their Arms Around Their Paper Problem

By Chris Strammiello

Banks and other financial services firms are document-intensive businesses, and that will likely never change. The volume of financial reports, statements, loans, etc. is growing, and no matter how much we strive to be a “paperless nirvana,” our industry may never fully get there.

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Beware the Dreaded ‘Deconversion Fee’

Letter to the Editor

By Mark Field

Making sure that you have the best technology solutions in place for your community bank is tough enough. Making a change in order to save money or obtain better service should be an option open to every bank. For this reason, you want to make sure you never accept a vendor contract that imposes a large “deconversion fee” on your bank.

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