July 3, 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
The VBA tracks a variety of topics and trends in our ever-changing industry. This research allows us to provide our members with the most relevant information through our conferences, products and services, and bank visits. The VBA Key Solutions focus on industry trends and the resources the VBA provides its members in areas such as emerging technologies; risk management and compliance; talent recruitment, retention and development; and the new beneficial ownership rule.
PWCampbell, serving banks for 108 years!
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.
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Computer Services Inc
FHLBank Atlanta
Advisors vs. Brokers
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.
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Industry News & Trends
The latest edition of "Richmond Fed at a Glance" includes features on educational attainment and small business, as well as news and a profile of Richmond Fed’s new First Vice President, Becky Bareford.
With unemployment down to 4.1 percent — a level that historically equates to full employment — and wages beginning to rise, banks are finding that they need to compete at a higher level to recruit and retain the best talent. (ABA Banking Journal)
In the latest American Bankers Association Washington Update, ABA President and CEO Rob Nichols celebrates the enactment of S. 2155 as a turning point, but cautions bankers not to take the pedal off the metal, noting the importance of engaging in the rulemaking process to ensure the law is implemented as intended.
For banks ramping up their focus on small businesses, it can be difficult to assess exactly who the small business customer is. In the fourth quarter of 2016, the number of entrepreneurs who started their own businesses hit a four-year high and economists have calculated that 94 percent of all jobs created between 2005 and 2015 were some form of "alternative," impermanent opportunities. (PYMNTS.com)
In today's social media intensive, 24-hour news cycle world, political, economic and social issues are all directly impacting bank operations and reputations like never before. So what is the difference between a reputational hit that ends up being just a blip, and one that becomes an extinction level event for your bank? (American Banker)
According to Adobe’s 2017 Digital Marketing Study, the proportion of financial services companies that viewed themselves as advanced in terms of digital maturity nearly tripled from 7 percent in 2016 to 19 percent last year. That’s a huge improvement, but there’s still work to do. (The Financial Brand)
The ATM-busting technique used by thieves, known as jackpotting, has been around for almost a decade—widespread in Europe, Latin America and Asia—and is now becoming increasingly common in the U.S. (Bloomberg)