Posts Tagged ‘Banking’

In recent years, the Consumer Financial Protection Bureau (CFPB) has significantly broadened its oversight, extending beyond major banks to address concerns in various industries, such as payday loan providers, credit reporting agencies, and most recently, the medical debt collection sector. The CFPB’s Dynamic Approach The CFPB’s modus operandi often involves proactively addressing potential issues through […]

In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 billion of the total cost incurred from the failures of Silicon Valley Bank (SVB) and Signature Bank was designated for safeguarding uninsured depositors. This financial strain emphasizes the critical need for effective regulatory oversight. Immediately following the Silicon Valley […]

On May 31, the Federal Deposit Insurance Corporation (FDIC) reported to the public what many banks already knew and had been experiencing for the past year – that deposits are declining in the American banking sector. There has almost been $1.2 Trillion removed from the banking system over the past year. In addition, the recent […]

The Landscape According to Forbes Advisor: 2022 Digital Banking Survey, as of 2022, 78% of adults in the U.S. prefer to bank via a mobile app or website. That’s a whole lot of consumers, all of whom come with unique expectations, needs, and data. And those consumers desire digital experiences that are personalized and meaningful. […]

Recently, I attended the 2023 Bank Automation Summit, where one of the significant topics of discussion was how banks navigate their transition to the cloud. The “cloud” refers to a global network of servers, each with a unique function, that works in tandem to enable users to access files stored within from any approved device. […]

Recent headlines have highlighted the failure of SVB Financial Group, the parent company of Silicon Valley Bank (“SVB”). To help both current and future clients, using publicly available financial records of SVB, including the last two annual reports and every 10-Ks and 10-Q filed this decade, a team of Perficient team members from around the […]

2023 Banking Automation Trends Perficient is looking forward to bringing our unique combination of automation technical know-how, along with industry expertise in Financial Services and Payments to the Bank Automation Summit in Charlotte, North Carolina on March 2-3. The Summit brings together experts in the field, including bank executives, technology vendors, and consultants, to discuss […]

The Scene You’re a rising middle-management executive walking into your NYC office, holding a cup of coffee purchased from a street vendor. Right upon booting up your PC, a message from your largest, most demanding client pops up, stating that they want to send wires to multiple vendors – who, of course, all use different […]

While it was once expected and acceptable for lenders to enforce standardized payment due dates and policies, COVID-19 brought the impracticality and ineffectiveness of a “one-size-fits-all” approach to credit and lending to light. Two-plus years later, banks and credit unions continue to feel the pressure to transform their credit and lending operations. And for good. […]

TD Bank Group recently announced its Q4 2021 earnings were up 31% from Q4 2020, despite the challenges brought on by the COVID-19 pandemic. On its earnings call, the company elaborated that this in part was due to its dedicated, people-oriented approach to business. TD emphasized that this elevated focus on the customer experience has […]

Over the last three blog posts, we discussed the importance of data democratization in financial services. Today, we want to share a few final words. To maximize the value of data resources, they must be discoverable by those who require the information. Once a needed data source is identified, it is best to have an […]

In our last blog post, we shared a proven approach to architecting a metadata search solution. Today, we’ll share a few high-level details about a solution that Perficient built, which can allow all types of financial services companies to jump-start their data democratization programs. Perficient has developed a highly capable abstraction layer called Handshake, which […]