eNews
May 1, 2018
 

The Virginia Banking eNewsletter is a monthly supplement to Virginia Banking magazine, intended to help you stay on top of industry knowledge via current trends data and insights.

From the VBA
Beginning on May 11, 2018, all banks, savings associations and credit unions will be subject to the new beneficial ownership rule under the Bank Secrecy Act, intended to assist the government and law enforcement in the ongoing fight against money laundering and the financing of terrorism. VBA has compiled a list of resources on this issue, including a new article addressing some of the challenges of the new rule and positing some possible solutions.
PWCampbell, serving banks for 108 years!
PWCampbell
Since 1910 PWCampbell has been widely known and respected in the financial services industry as a fourth generation, family-owned retail services and design/build firm. We offer a full range of quality facility planning, demographic research, creative retail branding, merchandising, digital marketing, interior design, furniture coordination, architectural and construction services. PWCampbell’s turnkey process provides the expertise to develop and implement engaging, impactful and scalable solutions for every sized project, on time and within budget.
Read more here
Advertisement
 
Computer Services Inc
FHLBank Atlanta
Advisors vs. Brokers
DENTON REALTY COMPANY
Webster’s dictionary notes the distinction…Advisors (aka: consultants) are subject matter experts who provide professional services. Brokers sell property for others. We do both. At Denton Realty Company we understand the myriad of financial, property management, regulatory, relationship and creditors’ rights complexities and we advise accordingly. The strategies we develop protect collateral value and solve complicated problems.
Click here to learn more
Advertisement
 
Industry News & Trends
Learn how a bank marketer is using her blog to celebrate women in banking, sharing stories of their struggles and accomplishments and giving them a place to connect with each other. In other women in banking news, the nominations period is now open for American Banker's annual 25 Most Powerful Women in Banking, 25 Women to Watch and Top Teams lists. Consider nominating women and teams of outstanding achievement at your organization.
The question of how the U.S. financial industry would be reshaped by the end of credit unions’ tax exemption usually gets lost in the well-rehearsed back-and-forth between banks and credit unions over the fairness of the existing system. (American Banker)
From chatbots that answer questions about personal accounts and bill payments, to dashboards that display individualized account information and advice on how to better manage money, personalized offerings have become the norm in the financial services space. (PYMNTS.com)
Mobile banking use is growing fast, and as mobile banking customers use it more frequently, they are able to move on more quickly to other life activities. That’s a finding from Citi’s 2018 Mobile Banking Study and it’s an insight shared by Alice Milligan — chief digital client experience officer in the U.S. consumer bank group at Citi — in a special episode of the ABA Banking Journal Podcast last week. (ABA Banking Journal)
Consumer confidence rose in April, bouncing back from March’s decline. Currently, the Index stands at 128.7 for April, versus 127.0 in March. The percentage of those surveyed who agreed business conditions were "good" declined slightly; however, those who agreed business conditions were "bad" also went down, declining from 13.3 to 11.3 percent. These results suggest that more people are moderately optimistic about the short-term outlook. (Conference Board)
Many financial marketers only see consumers through a limited generational lens. But if everyone uses the same basic demographic model, no one will have a competitive advantage. To grow and retain more relationships than your competitors, you'll need to use behavioral segmentation and personalize every aspect of your customer experience — starting with marketing. (The Financial Brand)