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Banking

5 Critical Considerations When Choosing a New Lending Platform

I read a recent poll that showed 1 in 5 banks are currently considering   switching out their Loan Origination and/or Servicing Systems.  This is welcome news as I have seen a majority of banks  still using antiquated systems, including COBOL based systems, making it very challenging and  extremely time consuming …

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Why my bank is leaving money on the table?

Married Baby Boomer (Male) Seeks More Intimate Relationship With Bank I saw a documentary on TV the other day about BMW making Mini’s. The production line had 26 basic models but then each car coming off the line was slightly different, according to the specific customer order – 3 door, …

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The Future of Retail Banking as seen by Millennials

There is a lot of thinking going into what the expectations of the millennials will be and a lot of industries are trying to predict what they should “look like” to attract the next generation of customers. We decided to do some research and innovation on the topic and invited …

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Why banks need to be more social

More and more banks are getting to be social, but there’s still a long way to go. It’s interesting that I’ve noticed a number of banks investing heavily in social media over the past five years, but not in countries you would expect.  Turkey, India, China, Brazil and Poland come …

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Social lending is not so social

Many markets are being ‘disrupted’ by peer-to-peer (P2P) connectivity and new open marketplaces.  Think Uber for taxis and Airbnb for hotels.  These are the new marketplaces for personal transport and accommodation.   Some say that P2P lending is the new marketplace for financial credit.  From mortgages to trade finance to personal …

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How to Config Pricing Conditions – SAP Banking Services

Hi All, Conditions are assigned to a condition group/s. To change a condition, you need to therefore edit the condition group itself. When changing a condition, only certain attributes can be changed such as the Description, Valid From Date, Amount, Counters, %, Min and Maximum amounts. The differentiating categories cannot …

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Impact of Active Liquidity Risk Management

How Banks Can Take the Risk Out of Liquidity Management Saving for a rainy day is top-of-mind at banking institutions around the world now that Basel III requires them to maintain enough liquid assets to operate during periods of significant stress. In effect, Basel III increases the amount of capital …

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How Can Banks Remain Competitive in the ‘Digital Age’?

The digital world and need for connectivity show no signs of slowing down, forcing banks and financial institutions to take a more proactive approach to stay relevant and meet consumer demand. As the industry continues to shift to digital, banks that adapt and integrate new technologies will gain a competitive …

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SAPPHIRE NOW Conference Highlights

Inspirational Transformations for Banking: Using innovative technology in banking takes creativity and gusto. Our presenters at this year’s SAPPHIRE NOW conference had no shortage of either, as they shared their stories of challenging convention with innovative ideas and how they stay competitive in an increasingly complex, fast-paced market. Discover ideas …

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What Makes a Bank ‘Good’ in Today’s World?

In the midst of economic change and mass technology adoption, financial institutions are entering a “reputation economy” in which their reputation and trustworthiness often matter just as much – or sometimes more than – their products and assets. To remain relevant and in good standing with the public, banks must …

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Integrity check of an SAP Account

Hello Banking Service people, Here is an interesting way of writing the program for checking the integrity of an SAP Account. The General way of Architecture is that 1. SAP BS is used for Banking Services Products 2. SAP CRM is used for Customer Master, Services, Marketing, BP and ICM. …

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Disrupt or Be Disrupted to Survive in Financial Services

Digitization has become one of the key sources of disruption occurring in the market today. Rather than becoming victims of it, banks and insurers have an opportunity to stay competitive by leading the disruption in today’s financial markets before non-traditional players take any more market share away from them. This …

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Transforming India’s Core Banking for the 21st Century

Technology enables just about everything, so tech-savvy customers expect real-time solutions from companies that put customers’ needs first. This is especially true in banking, where firms must keep pace with a digital market that constantly offers more personalized and tailored financial services than ever before. These types of consumer demands …

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The Simpler They Are

Recent divergence between size and efficiency favors the smaller and nimbler. But banks, already suffering the crushing complexity of their myriad inherited infrastructure and business practices, continue to grow most rapidly via mergers and acquisitions. Looks like diminishing returns and the using up of all the easy takeover targets are …

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The Second Big Bang About To Hit Banking?

When we hear the word “mobile” most of us think of our phones. The term has actually been applied to all sorts of innovations throughout the centuries, most notably with papyrus, when the written word became, well… portable. When words moved from being chiseled onto stone to being written onto …

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The Bigger They Are?

“Economy of scale” is a popular term in software as much as banking. “Write once, sell many” has been the mantra for business application developers since Jim McCormack and Frank Dodge first started selling fixed asset depreciation routines out of their Natick garage back in 1969. (History lesson here). But …

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Banking’s New Mantra: ‘Must Play Well With Others’

Mobile capabilities in banking aren’t just opening up new services to customers. They are also completely redefining traditional rivalries and partnerships. Because consumers demand easy and convenient transactions on any device from any location, banks have to form new alliances with a whole different breed of partner, ranging from payment …

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