An expert witness provides an impartial testimony to the court. It can help the judge and jurors understand complex and nuanced information more effectively—their expertise and testimony also lend strength to a case. Including an expert witness on your legal team to educate all of the parties involved can shed light on the various aspects of the matter.  Choosing the right expert can go a long way in terms of assisting you in obtaining a favorable outcome for your client.

Here are five essential qualities that a banking expert witness must possess to maximize the chances of success:

Experience should be at the top of the list when you begin the search for a banking expert witness to ensure you found a strong choice for a testifying role.

They must have unquestionable credentials and in-depth knowledge of the financial and regulatory issues related to your matter.  It will allow them to successfully navigate the intricacies involved in the case.

An ideal banking expert witness will have a background in the banking industry and a history of serving as an expert in many cases.

Confidence is another essential trait that a banking expert must possess to come across as credible and trustworthy in front of a judge or jury.

You should not give a court any reason to doubt your expert witness. You need a professional who can hold their ground and remain steady when cross-examined by opposing counsel.

A confident expert witness will be able to articulate their opinion concisely and present themselves as credible and reliable to those listening to their testimony.

A banking expert witness should have excellent communication skills and familiarity with industry jargon to deliver their point effectively.

More importantly, they must be able to speak without hesitation or reading pre-written notes or records--it adds more weight to their position.

A professional with relevant work experience will be able to understand the technical language and formulate their argument more cohesively. Further, it means more to those listening when an expert can say that they have dealt with very similar situations and have first-hand knowledge and experience in this type of matter.

An inexperienced witness or one that melts under pressure can cause harm by confusing a judge or jury in a way that can lessen the chances of a positive outcome for your client. The ability to find an expert with expertise, relatability, and one who can communicate effectively is important.

In complex banking transactions, the smallest details matter. Whether it’s a complex mortgage loan underwriting matter in New York or providing an opinion on a predatory mortgage loan in Chicago, experts must exercise close attention to detail.

Often, attention to detail can influence the outcome of the case and prove to be the difference between a successful or failed outcome.

Therefore, you must look for someone with years of experience in your matter, whether it be commercial lending, mortgage lending, lender liability, bank operations, or cash management. If you are dealing with a real estate related matter, if they understand the real estate industry, that is even better.

Last but certainly not least, you must ensure that your banking expert witness has unquestionable ethics and a solid reputation.

They should be able to provide objective opinions and refrain from making any favorable comments that may undermine the credibility of their statement. An expert witness is there to educate the parties involved and not as an advocate for their client.
They should uphold high moral standards and display integrity. Moreover, they must be well-groomed and professionally dressed for the court and must be able to speak with confidence.

If you’re looking for expert witness consulting services in New York, get in touch with Jason Koontz. With 20+ years of experience in the banking and financial sector, Jason brings both knowledge and a strong sense of duty to the court as a consultant and banking expert witness. To find out more details, call (646) 397 – 3835 or send an email at jasonkoontz1@gmail.com.

ALSO READ: UNDERSTANDING THE RISKS FACED BY YOUR START-UP BUSINESS
Disclaimer: This blog is for informational and educational purposes only, does not constitute professional advice. I’m not liable or responsible for any damages resulting from or related to your use of this information.

Expert witnesses are an essential and frequently essential component of many civil litigations. The credentials of an expert witness can influence the verdict of your case.

The education, professional experience, and credibility of an expert serve as a basis for acceptance of their testimony.

In this blog, we will discuss the potential impact of an expert’s credentials on a case and learn when is an expert witness required.

The educational background of an expert witness can play a significant role in establishing their credibility in the court. For example, the judgment of a professional with a degree in the area of the matter will weigh more due to proven educational record.

An expert witness with relevant experience and professional background in a similar industry can significantly improve their standing. For instance, the testimony of an expert witness with years of experience in the banking industry will hold high value in litigation involving a predatory lending or lender liability matter.

Expert witnesses with a track record of continuous professional development are deemed more credible, which can help strengthen your case. It may include obtaining certifications and attending conferences and seminars as it shows they remain updated in their field of expertise.

The career progression speaks about the knowledge and expertise of an expert witness. A professional who climbed up the ladder in their professional life is likely to have developed broad areas of expertise, which adds more substance in their opinion.

The prior testifying experience of an expert witness can also provide them an edge. A jury might consider the credibility of an opinion based on their previous history as an expert witness. An expert with a background of providing several testimonies may be regarded as more reliable.

Expert witnesses are required to provide testimony regarding matters requiring technical or specialized knowledge that is beyond the expertise of a layman.

Expert witnesses rely on the appropriate evidence and use specific methods to arrive at an opinion, which may include researching, testing, and other evaluation methods.
The conclusion that expert witnesses reach as a result of their assessment help judges and juror to understand the case better and reach a verdict.

Are you looking for expert witness consulting services in New York? Contact Jason Koontz today! With more than 20 years of experience in the banking and financial sector, Jason brings a wealth of knowledge and expertise to the court as a consultant and expert witness. For more information, give us a call at (646) 397 – 3835 or send an email at jasonkoontz1@gmail.com

ALSO READ: UNDERSTANDING THE RISKS FACED BY YOUR START-UP BUSINESS

Disclaimer: This blog is for informational and educational purposes only, does not constitute professional advice. I’m not liable or responsible for any damages resulting from or related to your use of this information.

The first step to an actionable plan is to look at start-ups success/failure rates. According to the government’s Small Business Administration (SBA) agency, about half of all new businesses fail in the first five years. About one-third make it to the ten-year mark.
These statistics are sobering, but you can significantly increase your chances of being one of the companies opened this month that make it to year ten. Start by breaking down the risk factors that can contribute to or undermine your success.

Risks can be categorized. Most types of risk a new small business venture faces can be broken down into one of these:

1. Financial
2. Legal
3. Technological
4. Market
5. Economic
6. Political

  Over 27% of companies were unable to secure start-up funding according to a survey by the National Small Business Association (NSBA). That means it is essential to develop a funding plan. This lays out how you will fund your new business and the likely financing terms.
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If you have an idea but are unsure where to start developing a business plan and obtaining financing, a small business development center can help. My personal experience as a banker leads me to believe that small business development centers are not appreciated for all of the help that they can provide to a new business owner. 

Some small business lenders may require a minimum amount of proven cash flow for you to qualify.  This might make them a poor choice for entrepreneurs who want to use loan funds to start a brand new venture.  Also, don't limit yourself to one kind of loan, consider different kinds of funding to ensure you'll have the resources you need to start or grow your business.

82% of failed businesses reported cash flow problems as a factor in closing shop. That’s according to a U.S. Bank study prepared by Jessie Hagan in 2019.

It’s not only the initial start-up funding you need to plan for. Consider the situation should the business struggle to take off. In that case, cash flow will be sluggish. Be aware that cash flow is not just incoming revenues but also outgoing cash. Common issues impacting cash flow include past-due accounts receivable, cost of inventory, wasted inventory, and meeting the payroll on time.
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Conversely, rapid success can also cause issues. If sales grow faster than accounts receivable collection, it can also lead to constricted cashflow.

Any lack of funding in place to cover these events can place the business owner’s personal assets at risk if they have personally guaranteed the debt. Unexpected or short-term cash flow needs can be mitigated by having a line of credit in place.


It is critical to have a good relationship with a banker who understands your business and its risks, and who will work with you to develop a banking relationship that meets your needs. Look for a lender with a Credit Risk Certification (CRC) designation. This demonstrates in-depth knowledge in the area of risk.
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Sometimes risks are purposely not disclosed. Concealment or intentional hiding of risks can occur when you are purchasing another business or dealing with a predatory lender. Failing to disclose internal risks that are unknown to the market or alleged instances of predatory lending can lead to litigation, which often requires the services of an unfair and abusive loan/predatory lending expert witness.

Before you open the door or make that first sale, it is vital to understand the legal risks. First and foremost, you need a thorough understanding of which business structure best matches your business ownership. Is an LLC or a corporation the right legal structure for your business?

Regulatory compliance, insurance risks, intellectual property, and workplace safety requirements are factors that you must consider. A proper understanding goes a long way to creating sustainable growth and minimizing potential events. Failure to do so could cause damage to your business and even your personal finances.

In these matters, there is no substitute for consulting a trusted professional advisor, such as an accountant or attorney.

Make sure to safeguard your growth by taking adequate steps to ensure the legal protection of your assets — especially in the start-up phase, when risks are most significant.

Ask yourself in what ways your business is different. They are your unique selling points (USPs) that will drive customers to you. A warning here — do not confuse your own enthusiasm for a product or service with market acceptance. Research your competitors to see how they are trying to improve their services. A successful business is one that can fulfill its customers’ needs first and foremost. If your services and products can’t do that, there is little chance that you will have staying power.

This technological leaping can even obliterate the need for a company’s offerings. A good example is companies like Uber and Lyft, almost drowning out the taxicab industry in major cities. The advent of freelance dashing companies means more and more suppliers are no longer choosing to employ delivery drivers.
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Nowadays every company is impacted by technology. You need to continually and proactively update your offerings to meet the needs of the market. It means you must predict future growth within your niche to stay on top and stay in business. Make sure your marketing strategy shows that you are at the forefront of offerings in your field. Maintain a reliable, consistent presence and you will be ready to take on the risks that a fast-moving economy generates.

Intrinsically tied to the viability of any company is the economic health of its geographical presence. Factors like exchange rates, government regulation and political stability (or the perception thereof) significantly impact whether your offerings can compete in a global marketplace.
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While these factors might occasionally be a hardship, they can also be a significant source of opportunity. Local, national, and foreign regulations likely impose different requirements and so it is critical to understand the rules and regulations governing your product in the market where you intend to compete for customers.

Risk is inevitable in business. A successful business owner balances acceptable risks with those that are unavoidable. When testing the viability of your business idea, do your best to envisage robust safeguards. Think defense as well as attack.

A solid core team, business-friendly government regulatory environment, and competitive research of technological advantages are significant first steps. Ensure that your organization can generate engagement in a diverse group of marketing channels while placing a high priority on prudent financial management.

A well-rounded but detailed big picture scrutiny of your potential for success can ground you in reality and ensure that your venture is ready and able to deliver on its promises.
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Business owners who feel they were the victims of predatory lending or deals in which the risks were intentionally concealed may seek redress through the courts. These cases often utilize an expert witness in abusive, unfair, and deceptive loan practices or experts with knowledge of the risks involved in that matter. An expert witness can be retained to investigate and offer opinions as to whether or not the alleged conduct was concealed or predatory lending.