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Fintech: Friend or Foe to Banks?
Wednesday, March 29, 2017 (651 reads)

Fins are back in style. Not the Cadillac fins from the 1950s – we’re talking about financial technology, better known as fintech. According to Fintech Weekly (yes, there is a publication and website devoted to the sector) fintech aims to provide financial services by making use of software and modern technology.
And the traditional financial industry is taking note – a recent panel of the New York Society of Security Analysts was devoted to fintech.

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A Whirlwind of Activity on Behalf of New York’s Community Banks
Wednesday, March 29, 2017 (249 reads)

In the past year, the Independent Bankers Association of New York State (IBANYS) continued our efforts on behalf of New York’s local community banks, and I’m pleased to report we have had significant success across the board. Last year, and now the beginning of 2017, have been jam-packed with challenges.

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New Year Brings Big Changes in Washington, Albany
Wednesday, March 29, 2017 (233 reads)

New York community banks will operate in a new environment in 2017 and the immediate future. The winds of change have swept through Washington, D.C. and, to a lesser extent, through Albany in terms of the legislative and regulatory arenas.

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Managing Credit Risk in 2017
Wednesday, March 29, 2017 (363 reads)

2017 is upon us. Improving economy. Rising interest rate environment. Stable net loan losses back to 2006 levels. New administration focused on reducing regulatory burden. Based on our experience of conducting loan reviews for over 30 years, here is what you can do to ensure credit concerns do not inordinately impact your financial institution going forward.

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PCSB Bank Continues Growth with Stock Offering
Wednesday, March 29, 2017 (1060 reads)

Fresh off an acquisition, a rebranding and a new corporate headquarters, PCSB Bank will look to continue its growth by converting from a mutual bank to a public company and offering at least 20.1 million shares of stock for sale.

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New DFS Cybersecurity Requirements for New York State: What You Need to Know
Wednesday, March 29, 2017 (300 reads)

The state of New York late last year adopted a set of compliance requirements for businesses and organizations that report to the Department of Financial Services (DFS). The regulation, known officially as 23 NYCRR 500, will affect a wide array of industries, from banking and insurance to mortgage brokers. Although it went into effect as of March 1, the regulation is allowing affected organizations a transitional period of 180 days (i.e., until Sept. 1) to achieve the first round of compliance.

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New Approach to Bank Governance Needed
Wednesday, March 29, 2017 (231 reads)

In recent years, bank boards of directors have been approaching a tipping point in governance: regulators are pushing them further into overseeing strategy transformation, conduct and culture; and regulatory and other pressures challenge existing business models and the structures and operations that support them. Important obligations related to risk and regulatory reform continue to be heaped on top of long-standing board responsibilities, such as regulatory compliance.

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Strong Customer Loyalty Could Be a Sign of Weakness, Not Strength
Wednesday, March 29, 2017 (197 reads)

It’s one of the first lessons you learn in business school: Loyal customers are the best customers. They love your brand, wouldn’t dream of switching banks and have been with you for years. Focus on loyalty and you’re sure to beat the competition, right?

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What Top-Performing Business Developers Know Best Practices from Commercial Banking’s Elite
Wednesday, March 29, 2017 (168 reads)

As commercial banking industry’s profit margins near retail grocery business, demand for performance at all levels of an organization becomes critical. It is vital to understand what best performers do and how they do it, and to apply that knowledge within your team. Below is a collection of the best practices from some of the best business developers in our business. This know-how can be easily applied in other industries.

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Workforce Transformation 3 Essential Ideas to Help Solve The Bank Talent Crisis
Wednesday, March 29, 2017 (258 reads)

The banking industry is experiencing a double tsunami of disruption – on one side by a radically changing banking environment, and on the other by the need to attract, engage and retain the right talent to anticipate and address these disruptive changes.

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