Articles

How Long is too Long?

July 26, 2017 - 3 min read

No one knows better than a bank that time is money. The longer a customer can commit their funds, the better the rate a bank will pay on their deposit. The same applies to technology contracts. The longer your bank is willing to commit to your vendor, the better the rate and/or discount your bank…

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Trends in Technology: We All Have Standards, Right?

June 27, 2017 - 3 min read

Each one of us has our own set of standards, what we understand to be acceptable and what isn’t acceptable. Standards define a minimally acceptable behavior. Standards define how we live our lives. If we don’t live up to personal standards, then we must answer to ourselves and possibly to others. Standards certainly apply to…

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Big Brother Actually is Watching

June 7, 2017 - 4 min read

Big brother is watching…and it isn’t a bad thing. In fact, it is a very good thing, one that has the potential to strengthen the entire financial services industry. In February, the Office of the Inspector General released “Technology Service Provider Contracts with FDIC-Supervised Institutions.” This report summarized 48 servicing contracts at 19 financial institutions….

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The Cost of Saying Good-Bye

May 16, 2017 - 4 min read

Two years ago, I was asked to review data processing contracts for a small bank to determine departure costs as part of a potential acquisition. We have a very active Investment Banking Division that provides assistance to banks looking to acquire and banks looking to be acquired. In either case from time-to-time, I am asked…

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Contracts – It’s All About the Fine Print!

April 26, 2017 - 4 min read

I have a recurring nightmare that I will come back in my next life to practice contract law. I do not have a law degree, so hopefully that will minimize the chances. However, reviewing contracts is a significant part of my everyday duties, whether managing a core vendor evaluation or renewing a contract with an…

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Trends in Technology: Fintech – Be Current and Cognizant

April 5, 2017 - 3 min read

This blog concludes the Trends in Technology series on fintech, although I do plan on returning to the subject whenever I encounter a fintech subject that I think should be expanded upon. Each day, I invest approximately one hour reviewing email and other resources on fintech. It is possible that in the coming weeks something…

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Trends in Technology: Fintech-Mobile Payments and Selfies. What?

March 6, 2017 - 3 min read

Card fraud has been a vexing problem for all institutions. Recent fintech developments may begin to reduce that by increasing the authentication of the payee. One very intriguing method of authentication for card purchases is “selfie pay.” It is exactly as it sounds. A picture of the payee’s face is taken at time of purchase…

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Trends in Technology: Fintech – A Lump of Coal

December 14, 2016 - 4 min read

As you are well aware on December 2, 2016, the Office of the Comptroller of the Currency (OCC) announced that it would consider issuing special purpose charters to fintech companies. There have been plenty of articles written on the potential impact of extending charters to fintech companies. Many of these articles have been dire. But…

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Omni-Channels: The Effects of New Technologies on Bank and Branch Profitability

November 15, 2016 - 1 min read

With the introduction and expansion of fintech through mobile apps, internet services, and digital banking, customers are demanding more convenient ways to accomplish their banking needs. Customers are no longer solely dependent upon the personal services provided at traditional bank branches. Jeff Morris, Managing Director and Principal of Austin’s Financial Management Division, and Steve Heckard,…

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Trends in Technology: Fintech – Time for a Quick Update

November 1, 2016 - 4 min read

Fintech is fluid, ever changing, ever advancing. Advancement in technology in general is commonplace, but for fintech it is on fire with new product announcements being made each week. Some of these new products will actually make their way to the market. Some will be nothing more than a good idea that failed to launch,…

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Hey Siri/Contana/Alexa, Pay My Mortgage!

September 20, 2016 - 3 min read

Voice recognition technology has advanced significantly in the past few years. It is nearly ubiquitous now. Most smartphones have voice recognition ‘built in.’ Even my car can recognize simple spoken commands which makes entering addresses in the navigation unit much, much easier. How soon will it be before my mobile banking app can do the…

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How to Improve Relationships with Technology Vendors

June 14, 2016 - 2 min read

In my recent blog entries and in a magazine article published in Western Banker (September/October 2015), “Managing Technology Service Provider Relationships” (view below), I have discussed how to improve relationships with technology vendors. In nearly every vendor evaluation engagement, I see the cause for dissatisfaction with the vendor rooted in the relationship, not the technology….

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