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Bank wire fraud – How social engineering and technology perpetrate fraud losses

Abrigo

Bank wire fraud is growing and becoming more complex. Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Bank wire fraud Introduction Bank Wire fraud has long plagued the financial industry. Here are a few simple things you, as a financial crime professional, can do to slow it down.

Fraud 195
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How Your Bank Business Model Impacts Performance

South State Correspondent

The good news is that strategy matters and your team’s time and effort in refining your strategy should pay off. That answer depends on the strategy your bank is pursuing and the underlying business model your bank chooses to leverage. Bank A focuses on optimizing, while Bank B focuses on transforming.

Strategy 195
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3 Rules to Getting Your Deposit Promotion Right

South State Correspondent

In our industry, many banks need to put more thought into the science and strategy of deposit promotions. This is, unfortunately, occurring as the number of deposit promotions is approaching a near-term high, and banks are throwing away money like an untargeted ad campaign. The same is true for deposit marketing.

Strategy 195
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The top lending & credit risk blogs of the year

Abrigo

download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023. Takeaway 2 The top lending and credit blog posts focused on the benefits of banking technology, interest rate management, and developing risk ratings.

Lending 221
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Coming Rate Hike Should Nudge Bankers to Focus on Deposit Management Strategy

Abrigo

Higher Fed Rates Ahead: Plan Now to Manage Impact on Deposits The Fed's signal of higher interest rates reiterates the importance of financial institution ALM and deposit management strategies, policies, and programs. . Takeaway 2 If the market trends downward for long, banks and credit unions could actually see another increase in deposits.

Strategy 195
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How to Mitigate Ag Lending Risks

Abrigo

If that trend continues, operating costs will begin outpacing revenue for many farms, and demand for ag financing will grow for community financial institutions. While these trends are especially daunting for farmers, it also puts small ag banks at significant risk if economic trends continue. Pay strategies.

Lending 150
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15 Twitter accounts every bank executive should follow

Abrigo

The ABA has a new report out on how banks are using social media, and much of the report focuses on using Twitter, Facebook, LinkedIn and the like to boost customer service, make connections in the community and recruit staff. His recent research reports have covered SMB lending, alternative lenders and automating commercial lending.