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Articles by Jerry Norton
Funds at your disposal: Digital lending making inroads into traditional lending
The penetration of the internet of things and devices such as smartphones has brought in many advancements. This has made economic activities available at the touch of a button. Among the various sectors, the digital world has evolved the way traditional banking processes are being carried out. A growing number of businesses and individuals are filling applications online for taking loans rather than getting into the lengthy lending process.
Extending the bank: Key drivers, technologies and steps
What does it mean to extend the bank? Traditionally, banks have manufactured, distributed and managed all of their own products and services. The concept of extend describes how this traditional model is changing as the value chain becomes unbundled, the bank ecosystem expands, and other parties become involved in these activities either in collaboration or competition with the bank.
ATMs can become thing of past
The first bank to introduce ATM was Barclays in UK some five decades back. In last 50 years, the Retail Banking industry across the globe embraced it as must to have cash dispensing outlet with more than 3 million ATMs operating as of date. Because cash remains a crucial part of most people’s day-to-day lives even today, ATMs are considered to be the most convenient form of Retail banking where the banks allow customers to withdraw cash 24x7 from their account by just swiping a plastic card.
Why the financial industry needs to change tack and focus on the basics
IT spending is at an all time high; continuing to grow at a rapid rate, it’s estimated that $103 billion will be dished out in 2019. This may seem like a good thing, more spend on security automatically means better security, right? Unfortunately, this is not always the case, as while spend goes up, so too does the number of data breaches and compromised data records. The correlation would suggest the increased spending isn’t working, or rather what it’s being spent on isn’t either.
Are Open Consortia the Answer to Corporate Banking APIs?
Banks struggle to balance two imperatives: to open their systems to external partners and clients via application programming interfaces (APIs) and to control the user interaction. In order to maintain the direct and captive relationship with their corporate clients, banks are building their own API-based catalogs with high walls separating them from other institutions.
Ben You Did It Again
$100 Ben, You Did It Again! One of my favorite American historical personalities is Ben Franklin, born 1706 and died 1790. Yes, Ben is known as a leader for liberty, a politician, an inventor, scientist, businessman, philanthropist and, generally, a genius in his day. He is also the only American founding father to sign all three documents related to the freeing of America from England. He was involved with the signing and drafting of the Declaration of Independence and the Constitution.
How to calculate the Customer Lifetime Value of an Asset Management client?
Some Fintech startups are betting on the growing Assets Under Management (AUM) of millennials. Among them, you will find robo-advisors, micro-saving applications and trading platforms for self-directed investors. This idea is obviously seductive. However, we could ask ourselves what is the real value of a millennial with an upside potential? As the Customer Acquisition Cost (CAC) of robo-advisors is generally considered to be between $200 and $400, we expect a CLV above this threshold.
Future Trends Moving Wholesale Banking Forward
Expanding roles in wholesale banking have created a push for improvements in service of large-scale corporate customers. From the current states of function, wholesale banking will undergo a restructuring of product developments, a new approach to customer interaction and the employment of digitized practices to increase efficiency. Trends predicted for wholesale banking include a new approach to addressing customer needs so that services will work in accordance with businesses’ goals.
15 years to rediscuss the gentlemen’s agreement on 24 free cash withdrawals
By Rik Coeckelbergs Dear journalists, dear Test Aankoop, dear politicians, Last weeks there were 2 news items worth discussing: Belfius has its API marketplace made public.
Importance of Conducting Independent Assessment For An Enterprise Risk Management Function
The saying goes, “If it ain’t broke, don’t fix it.” However, in the culture of today’s business market, the saying should be adapted to say, “If the existing risk management program is working, still see if there are areas for improvement with an independent assessment.” The reason is that enterprise risk management (ERM) programs are structured plans designed to be consistently organized and responsive to the risks facing an organization.
Turnovers key in Ponte Vedra’s win over Bishop Kenny
Ponte Vedra took advantage of several Bishop Kenny turnovers last Friday, Sept. 28, to beat the Crusaders, 16-13, in a conference contest on the road. But the Sharks made things difficult for themselves, losing the ball on three fumbles as well. Ponte Vedra’s first fumble came seven plays into the team’s opening drive when quarterback Jack Murrah lost the ball on a keeper. No harm resulted as Bishop Kenny went three-and-out.
Sharks dominate in 34-14 win over Westside
The visiting Wolverines of Westside were no match for the Sharks last Friday as Ponte Vedra finished on top 34-14. Held at the Shark Tank, the Sept. 14 game was more lopsided than the final score would indicate with Ponte Vedra completely controlling play for the first three quarters. In the first half alone, the Sharks’ offense ran 42 plays covering 116 yards, compared to 15 plays for just nine yards by Westside.
Ponte Vedra defeats Nease 24-13 in the Battle of the Bridge
The rivalry between the Ponte Vedra Sharks and the Nease Panthers remains as keen today as it was eight years ago when the very first Battle of the Bridge took place. This is despite the fact that the result has been the same every year: The Sharks take home the trophy. Last Friday night at the Shark Tank, Ponte Vedra did just that again, beating the Panthers 24-13. But the story of this game is not about its outcome, or that the Sharks have never lost to the Panthers.
Crowley traded from Steelers to Redskins
Lucas Crowley awoke to a nontraditional wake-up call in his hotel room in Pittsburgh last week: A staff member from the Steelers was on the other line, informing him that he had been traded to the Washington Redskins. “It’s definitely strange,” said the former Nease standout about the transaction. “It’s better than being cut.” Crowley, a center, was traded from the Steelers to the Redskins in exchange for cornerback Dashaun Phillips.
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