TOPIC: Commercial Accounts

Nonbank Financial Institutions - NBFIs

SVP at a bank ($3.3BUSA)

Looking to see what others do relative to banking independent loan/finance companies that provide lending services to customers of the independent finance customer. Lately, our bank has been opening several accounts for independent lending companies that provide lending services to help individuals purchase residential real estate for investment purposes or for the real estate to be rehabbed and "flipped." According to FinCEN guidance, these type of companies are considered to be an NBFI and are required to have an AML program in place.

Our question is, what are other banks doing? Are you asking and requiring these types of customers to provide evidence that they have an AML program in place?

If anyone has an opinion or comments, please share...

    5 Things Banks Should Know about Email Marketing

    According to a 2017 Econsultancy report (from thefinancialbrand.com, "10 Essential Email Marketing Insights for Banks & Credit Unions"), marketers rate email as a tactic that has one of the highest returns on investment. This can be true when email marketing is done right. But when done wrong, the consequences can be bad (and even ugly!).

    LISTEN: To learn how businesses can successfully leverage email marketing, listen to this podcast from Bankers Healthcare Group listed at the bottom.

    DOWNLOAD: We’ve also summarized the five biggest takeaways from the episode in the attached doc.

      Is This Partnership a Right Fit? More than 50 Banks Found Out Firsthand.

      In January, 56 community banks from 20 states joined Bankers Healthcare Group for a behind-the-curtain experience at our Informational Regional Seminar in Nashville, Tenn.

      Our 75 attendees heard from BHG’s Founder/Chairman/CEO Al Crawford and c-suite leadership team in finance, credit, underwriting, compliance, marketing, sales, and analytics. This was a great opportunity for them to learn about our business model, commercial medical loan program and financial strength, and uncover new revenue opportunities for their banks.

      We had a great mix of prospective customers and current customers from some of BHG’s 940 bank partners, which gave everyone a chance to network and learn. Prospective customers love to hear about the experiences of current customers, while current customers appreciate the business and product updates, as well as the opportunity to connect with key BHG contacts.

      Our seminars are a great way to get to know BHG—and we hold them throughout the year, across the country. If you’d like to attend an upcoming seminar, please email bhgbanks@bhg-inc.com or call 877-731-6562 to get the details!

      About BHG: Bankers Healthcare Group (BHG) is the leading provider of financial solutions for licensed healthcare professionals. The company originates, underwrites and funds medical and professional loans before selling them to local banks nationwide.

      To date, BHG has underwritten nearly $15 billion in commercial loan requests with an average size of $100,000, providing a network of more than 940 U.S. community banks a source for premium loans, portfolio diversification, and competitive yields without overhead costs traditionally associated with this quality borrower. Banks purchase BHG loans through a secure, online system that allows for daily sale and delivery of loans. This has been a highly effective channel for a bank to quickly approve and purchase loans according to their underwriting standards. BHG’s 2018 sales distribution has averaged $4 million per day and new loans are posted daily.

      Pinnacle Financial Partners, Inc., and its subsidiary Pinnacle Bank hold a 49% total interest in BHG.

        How Segmentation and Technology will transform AML - Join us February 6

        February 06 at 12:30 PM - 01:30 PM EST
        Learning from Fraud Detection: Segmenting AML to Fight Financial Crime
        ACAMS Webinar Rebroadcast

        Register now: https://verafin.com/event/learning-from-fraud-detection-segmenting-aml-to-fight-financial-crime/?src=cbanc

        Join Jim Richards and Brendan Brothers as they discuss what makes segmentation such an effective method for fighting fraud, and ask how proven fraud-detection approaches can be applied to transform the AML industry.

        In this insightful session, these industry experts discuss the limitations of current one-size-fits-all AML approaches and technologies; examine how segmentation improves fraud detection and how these lessons can be applied to strengthen anti-money laundering efforts; and analyze the advantages of innovative technologies and customer segmentation in enhancing AML.

        Register now: https://verafin.com/event/learning-from-fraud-detection-segmenting-aml-to-fight-financial-crime/?src=cbanc

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          Customer Agreement - Smart Pay Express

          VP at a bank ($436MUSA)

          We will begin to offer our commercial customers a service where we (our vendor) provides a customized hosted webpage so that our customer can collect one time or recurring payments from their customers online. Our vendor calls this Smart Pay Express. I am looking for anyone who is willing to share a copy of their customer agreement for this type of service. Thank you.

            How Verafin Uses Artificial Intelligence to Improve AML and Fraud Efforts. Join us on Jan 30.

            January 30 at 12:30 PM - 01:30 PM EST
            Register now: https://verafin.com/event/how-verafin-uses-artificial-intelligence-to-improve-aml-and-fraud-efforts/?src=cbanc

            Artificial Intelligence (AI) techniques continue to evolve rapidly, becoming an evermore important tool in your team’s money laundering and fraudulent activity detection efforts.

            Verafin’s FRAMLx solution includes an extensive library of analytical agents that use a combination of advanced AI and machine learning techniques to identify risk and intelligently segment customers, improving your team’s ability to perform effective and efficient ongoing customer due diligence.

            Join us for this product overview to learn how:

            • Verafin’s analytical agents apply the latest advances in AI to the analysis of a wide array of evidence to increase or decrease the degree of suspicion associated with a customer’s activity.
            • Innovative AI allows Verafin to risk-rate activity based on dozens of factors, more effectively isolating truly risky activity, while greatly reducing the time your team wastes on false alerts.
            • Verafin’s Cloud network utilizes an unprecedented amount of anonymized data to help its analytical agents more effectively identify fraudulent activity.

            Register now: https://verafin.com/event/how-verafin-uses-artificial-intelligence-to-improve-aml-and-fraud-efforts/?src=cbanc

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              Educational Seminar in Nashville, 2019

              See why more than 925 of your peers have purchased loans from Bankers Healthcare Group, at the upcoming Nashville Info Seminar.

              • Engaging seminar - Hear from the Founder/CEO and the c-suite leadership team in finance, credit, regulatory, marketing, sales and analytics.
              • Understand the 5 convenient, hassle-free methods to purchase loans.
              • Discover additional revenue opportunities for your bank:
                • Consumer loans to licensed medical and other professionals
                • Patient lending – connecting community banks to hospitals and surgery centers
              • Network with key BHG personnel and other community banks from around the US.

              Email us at bhgbanks@bhg-inc.com or call 866-461-5069 to find out the details!

              "The BHG Info Seminar was an excellent experience. We are new to BHG, having just purchased our first loan last month. It’s was a valuable experience to have the company’s staff answer your questions and talk to other banks who have experience with BHG. I was able to learn how they manage their portfolio and loan terms. The event was first-class, all the way. I came away very impressed with BHG." – Minnesota Bank President

              About BHG: Bankers Healthcare Group (BHG) is a well-established, direct lender that has a commercial loan program specifically tailored to the business needs of licensed healthcare and other professionals. BHG has provided over $4 billion of these originated, underwritten and funded loans to 925+ community banks throughout the US since 2001.

                Commercial Construction - Permanent phase

                Manager at a bank ($88MUSA)

                Most of our construction loans are construction/perm financing. We did a commercial construction only loan. Now, we are getting to the permanent finance phase. What is the best way to do this? Do you usually do a change in terms agreement? A whole new loan? A modification to the mortgage? I'm in a debate with our President about the best way to handle this. Any input from those who have experience would be helpful. His main concern is not losing our first lien position on the mortgage. Thanks for any advice you share!

                  Using Big Data Intelligence for Big Gains in Fighting Crime

                  Part 1 in a Special Series on The New Future of Fighting Crime
                  How your Institution Can Leverage Data and Technology in the Cloud for Fraud Detection, AML and High-Risk Customer Management
                  November 07 at 12:30 PM - 01:30 PM EST

                  Institutions are facing increased pressure to mitigate the risk of fraud and money laundering, and stay compliant. But as workload and costs increase, false positives can overwhelm already strained resources, so there is significant risk in relying on manual processes or rules-based monitoring systems.

                  To effectively fight crime, investigators need to leverage vast amounts of data from numerous sources in their analysis. Verafin imports and analyzes an immense data set from multiple sources, including core data, ancillary data, open-source and third-party data, and consortium data. In fact, before Verafin it would have been unthinkable to analyze that much data. By applying cross-institutional analysis and machine learning technology to analyze a billion transactions every week, our approach reduces false positives and increases the quality of your alerts.

                  Join us to learn how Verafin’s Big Data Intelligence approach keeps you ahead of fraud trends and regulatory changes, provides higher-quality, targeted alerts, and gives you a complete view of activity, including crimes that span multiple institutions.

                  Highlights of this presentation will include how Verafin’s Big Data Approach helps you fight crime by:

                  • Providing a complete picture of activity in a single system ensuring greater visibility of potential risks, while saving you valuable time and money.
                  • Leveraging cloud technology and cross-institutional analysis to proactively detect and mitigate risk, reduce costs, and protect your customers and institution.
                  • Integrating and analyzing multiple data sources to improve alert quality, such as peer profiling, high-risk customer labeling, payee confidence, and geolocation data.
                  • Applying Machine Learning to learn from labeled data, further improving detection and monitoring capabilities.
                  • Partnering with you to develop solutions to real-world problems with targeted, expert-driven models for Fraud Detection, AML Transaction Monitoring and High-Risk Customer Management.

                  Register now: https://verafin.com/event/using-big-data-intelligence-big-gains-fighting-crime/?src=CBANC

                  Register for more upcoming events in the series:

                  PART 2: Visual Storytelling to See the Full Picture, Faster – Nov. 21

                  https://verafin.com/event/visual-storytelling-see-full-picture-activity-faster/?src=CBANC

                  PART 3: Collaborative Investigations: Connecting the Dots to Stop Crime – Dec. 5

                  https://verafin.com/event/collaborative-investigations-connecting-dots-stop-crime/?src=CBANC

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