Banks

Putting ‘Service’ Back into Service Industry: The Importance of Relationship-based Banking

Putting ‘Service’ Back into Service Industry: The Importance of Relationship-based Banking

BBC Easy automates the C & I loan financial reporting process by securely extracting financial data from customer accounting systems to help banks calculate the amount of a Borrowing Bank Certificate (a document used in asset-based loan transactions) based on the customer’s current financials and the bank’s lending parameters.

Finagraph Partners with Relationship Banking Academy

Finagraph Partners with Relationship Banking Academy

Finagraph, a provider of best-in-class automated financial intelligence tools and data verification to financial institutions, announced today the company has forged a partnership with the renowned Relationship Banking Academy (RBA) to educate tomorrow’s bankers on key financial technology tools to aid in forging long-lasting client relationships. Kyle Enger, CEO of RBA, is an esteemed expert in the field of relationship banking who regularly teaches at top business schools including the Pacific Coast Banking School, Graduate School of Banking at Colorado and Graduate School of Banking at LSU.

Finagraph is Changing the Way Banks and Institutional Investors Interact with Businesses

Finagraph is Changing the Way Banks and Institutional Investors Interact with Businesses

Financial technology provider BBC Easy announced today that the company has formally rebranded under the new name Finagraph and is expanding the vision for its core product. The company announced its new website will be located at http://www.finagraph.com. This shift is in line with the expanded goals for Finagraph’s innovative, proprietary software—which connects businesses, their bankers, or investors securely through the cloud—to include a host of financial intelligence tools that allow for on-the-spot review of a company’s complete financial health.

3 Things Banks Have to Do Right Now to Stop Losing Customers

3 Things Banks Have to Do Right Now to Stop Losing Customers

Bank customers seem chronically unhappy with their financial institutions, particularly on such hot-button issues as big bank bailouts and high service fees.

More and more, financial consumers are voting with their feet and moving on from banks they believe underperform on customer service. A July study from cg42, a Wilton, Conn., management consultancy says that customers will pull out $92 billion in deposits from U.S. banks in the next year due to increasing dissatisfaction.

Cloud Helps Credit Unions, Community Banks Go Mano-a-Mano with Big Banks

Cloud Helps Credit Unions, Community Banks Go Mano-a-Mano with Big Banks

Cloud-based lending solutions can deliver improved transparency and customer experience in the lending process to help small institutions grow their lending business.

The popularity of credit unions continues to increase - with credit card loans, mortgages and deposit accounts increasing more rapidly than those at commercial banks. Credit union membership hit 93 million in 2012, according to the Credit Union National Association. 

Is the Community Bank in Danger?

Is the Community Bank in Danger?

In 2012 alone, 2,267 bank branches shut their doors in the U.S. In the face of record-low interest rates and changing customer preferences for online banking, banks, particularly smaller ones, are at a crossroads. While many want to reduce operating costs, customer demands for increased online and mobile access is a costly prospect for many small- to mid-sized banks. 

7 Ways Automation Improves the Lending Process

7 Ways Automation Improves the Lending Process

In today’s competitive C&I lending market, banks are looking for ways to offer services more quickly and cheaply as well as improve their profit margins. By using automation tools, banks can improve business process efficiencies and offer more loans and better customer service to small businesses in need of capital. Financial institutions are increasingly turning to customer-facing software programs to automate the lending process. If a small business owner has ever used popular apps like Xpense Tracker or Evernote, the same intuitive interfaces are now available specifically for commercial accounts.