Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

New York 221

New York Compliance Regulation Analysis 221

Perficient

JANUARY 30, 2024

Every voice within our organization holds significance, none more so than Carolyn Lee , a Project Manager (PM) in our Financial Services business unit and a leader in Perficient’s Risk and Regulatory Center of Excellence (CoE). Perficient promises to challenge, champion , and celebrate our people.

Innovation 221

Innovation Risk Management Meeting Management 221

Abrigo

APRIL 25, 2024

Data in this report is current as of Q2 2023 and is representative of market trends and conditions at the time of publication. The negative correlation of funded business loans to the Fed funds rate is a staggering 86% as businesses weigh their needs for capital against expensive debt and lenders aim to limit risk.

Lending 221

Lending Trends Capital Strategy 221

South State Correspondent

JANUARY 30, 2023

Rising funding costs and decreasing liquidity at community banks are causing managers to change pricing methodology for new credits. We estimate that 25% to 50% of community banks have a policy requiring minimum yield or credit spreads for new commercial loans. The drop in liquidity ratios is expected to accelerate through 2023.

Community Bank 195

Community Bank Community Strategy Management 195

Abrigo

SEPTEMBER 11, 2023

Takeaway 2 AI can lead to more accurate and consistent outputs or predictions, better risk management, and improved customer experiences. billion in business value from artificial intelligence and machine learning efforts in 2023 as it leverages its 500 petabytes of data across 300 use cases in production.

Risk Management 195

Risk Management Data Technology Fintech 195

South State Correspondent

APRIL 23, 2023

The root cause of Silicon Valley Bank’s (SVB) failure is poor risk management – plain and simple. Bankers need to understand and manage their business on the fair value of assets and liabilities instead of managing their business on net interest margin and the amortized historical cost of assets and liabilities.

Management 195

Management Security Risk Management social media 195

South State Correspondent

FEBRUARY 27, 2022

ARC enables community banks to take advantage of a flat yield curve, differentiate the bank from market competitors, provide a higher level of service to better customers, and instill more relationship business – all of this leads to more loans and more profitable customers. Current Risk in Term Lending. Why ARC Makes Sense.

Lending 195

Lending Community Bank Community Meeting 195

FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! Intrepid payments professional that I am, my thoughts are still lingering on what a great event FICO World 2022 was, the amazing fraud insights we shared, and how excited I already am for FICO World 2023. Find out more and register to attend FICO World 2023.

Fraud 52

Fraud Analytics Trends Innovation 52

Abrigo

JULY 25, 2022

Takeaway 2 Ag sector receipts are expected to increase, but so are input costs, so loan demand could pick up by 2023. . Farmers expect worse in 2023. Farmers are indeed anticipating worse conditions in 2023. Takeaway 3 Ag lenders can take steps now to prepare for stronger ag loan demand so they can meet needs efficiently.

Lending 195

Lending Kansas City Kansas Resources 195

Abrigo

NOVEMBER 17, 2023

While some of the recent trending fraud schemes are not new, they have been transformed to prey on communities already dealing with unprecedented times. According to PWC , rising prices can have substantial implications on fraud risks. The downturn in the economy has undoubtedly affected fraud statistics as well.

Fraud 195

Fraud Training Trends Compliance 195

Jeff For Banks

MARCH 21, 2024

No one will forget the inflation that followed in 2021 to 2023, started first by supply chain issues, but then fueled by the Fed’s purchases and the obscene amount of cash handed out by the federal government. It was not until May 11, 2023, that the US national emergency was lifted, but sadly, the free cash handouts continue.

Marketing 148

Marketing Policies Report Atlanta 148

Gonzobanker

JULY 10, 2020

Forty-five percent expect it to be 2023 and beyond. Community-based institutions have unique circumstances (and personal viewpoints) that impact how they see the world in the future and what planning will look like for them. Risk Management. Be hyper-sensitive to your community. Getting Back to Work.

Risk Management 88

Risk Management Capital Strategy social media 88

Abrigo

FEBRUARY 14, 2023

The primary purpose of reporting the information is to: Provide tracking of small business credits to enforce fair lending laws and Enable creditors to identify and support the business needs of small businesses owned by women and other minorities within the community. The final rule is expected by March 31, 2023.

Data 195

Data Lending Compliance Resources 195

FICO

FEBRUARY 21, 2023

Expectations from Visa are that the GDP will turn negative once again in Q1 and Q2 of 2023 leading The National Bureau of Economic Research to declare a recession. There is a myriad of articles and community posts to help consumers understand the impact of taking on new debt, increasing revolving debt load or missing payments.

Trends 52

Trends Industry US Cards 52

Independent Banker

OCTOBER 1, 2022

But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. By Katie Kuehner-Hebert. Data privacy and security is a hot topic and is only getting hotter. Bob Hickok.

Data 91

Data How To Community Bank California 91

Jeff For Banks

NOVEMBER 3, 2023

Financial Markets & Economic Update - Fourth Quarter 2023 Summer Update On this warm October day, I am staring at my Bloomberg screen, still heartbroken over the Phillies Phailure. Interest rates are all elevated, with the 2-year Treasury yield at 5.01% and the 10-year at 4.85%, which is up by over 100 basis points since June 30, 2023.

Marketing 87

Marketing Community Bank Policies Community 87

Abrigo

DECEMBER 28, 2023

Top banking risk management papers and infographics Abrigo experts' insights on deposit pricing, stress testing, loan review, and CECL were popular with banking risk professionals. You might also like this webinar, "Unraveling risk rating: Making sense of your best early warning tool." Here are the top resources.

Resources 221

Resources Risk Management eBook Strategy 221

Independent Banker

MAY 24, 2016

This leaves federal crop insurance support as a key risk-management tool. However, the farm community already is being forced to defend even this scaled-back safety net. It’s a crucial risk-management tool” for 1.7 million farms and the community banks that lend to them each growing season, Scanlan points out.

Community Bank 70

Community Bank Kansas City Community Iowa 70

Jeff For Banks

DECEMBER 8, 2022

The downside to all of the rate hikes is that we face a high risk of recession in 2023. In 2023, we will be there. Recession probability is now very high for 2023 and will get higher if the Fed continues to increase rates. Dorothy has been with Penn Community Bank and its predecessor since November, 2004.

Marketing 78

Marketing Policies Philadelphia Community Bank 78

Abrigo

APRIL 22, 2024

Small business lending is also a prominent line of business for many financial institutions, especially those driven by a mission to help their communities thrive. The Fed’s latest Small Business Credit Survey , conducted in 2023 and released in 2024, found that nearly 60% of employer firms had sought financing in the previous 12 months.

Lending 243

Lending St. Louis Community Marketing 243

Abrigo

DECEMBER 22, 2023

The most-read portfolio risk blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. You might also like this webinar, "Unraveling risk rating: Making sense of your best early warning tool."

Risk Management 221

Risk Management Regulation Management Lending 221

Jeff For Banks

JUNE 2, 2023

//Jeff Marsico remarks to the 2023 New Jersey Bankers' Association Annual Convention: May 19, 2023// Four decades ago, the prolonged savings-and-loan crisis devastated the industry. Although community banks did not lend to sub-prime borrowers in any meaningful way, did we participate? trillion failed.

FDIC 78

FDIC Community Bank Regulation Lending 78

Jeff For Banks

MARCH 5, 2022

Investors have seen this movie before and are fearful of recession in 2023 or 2024. in 2023, which is back to the lower equilibrium growth rate of just over 2%. Can the Fed carefully engineer the slowing of growth without risking recession? Dorothy has been with Penn Community Bank and its predecessor since November, 2004.

Marketing 78

Marketing Policies Community Bank Community 78

Gonzobanker

DECEMBER 14, 2023

Not the financial industry’s “Troublemakers ” – those regional and community banks, credit unions and supporting fintech entrepreneurs who continue to engage customers and communities and find niches that keep the grassroots of our country’s financial system alive and kicking. What a year. We are in awe. Seriously in awe.

Fintech 195

Fintech Community Regional Technology 195

South State Correspondent

JANUARY 30, 2024

For perspective, 2023 and what we expect for 2024 can be characterized as keeping up with revenue. The 2023 median fell so that bank IT spending made up 11.4% Of these three categories, we find that community banks usually do not allocate enough of their IT budget towards innovation. and 11.1%, with a median of 8.1%

Capital 195

Capital Operations Customer Experience Comparison 195

Abrigo

FEBRUARY 8, 2024

consumers lost billions of dollars due to fraud during 2023. consumers lost more than $7 billion during the first three quarters of 2023, up 5% compared to the same period in 2022. Effective fraud risk management includes detection and fraud monitoring that should consider customer or member history and behavior.

Fraud 195

Fraud Resources social media Software 195

Abrigo

MARCH 17, 2022

However, community financial institutions can incorporate the new scenarios for their own stress tests to help determine how their capital levels will fare in severe economic situations. Prudent stress testing as a risk management tool helps the enterprise see where the potential pitfalls are in their plans.

Capital 195

Capital Regulation Risk Management Community 195

Abrigo

FEBRUARY 6, 2024

Takeaway 2 Community banks may face challenges seeking reimbursement for breach of warranty claims filed with other FIs. which lost $135 million to check fraud in 2023 through Sept ember 30. You might also like this on-demand webinar explaining how fraudsters use checks to their advantage.

Fraud 221

Fraud Training Trends Regional 221

Social Assurance

APRIL 13, 2021

Don’t you remember when you were building your business case for implementing mobile deposit, and your Chief Risk Management Officer almost fell off her chair with the sheer thought of the amount of fraud that was going to occur? By 2023, the aggregate potential cost savings for banks from AI applications is estimated at $447B.

Branding 15

Branding Fraud Arizona Data 15

South State Correspondent

MARCH 15, 2023

While we wrote about the root cause of the failure of Silicon Valley Bank (SVB) HERE , the lessons of the current banking crisis go beyond interest rate risk management. While interest rate risk caused the most significant impact on value, several other factors contributed to the terminality of each bank that was closed.

social media 195

social media FDIC Branding Management 195

Abrigo

JULY 28, 2021

Takeaway 1 The 2023 deadline for CECL implementation is coming, and many SEC filers have said they would have started earlier. . Before a community financial institution settles on a methodology, it’s likely the CECL committee will have significant discussions related to methodology selection. Start Now’. Haven't adopted CECL yet?

Resources 195

Resources San Antonio Data Regulation 195

Abrigo

SEPTEMBER 14, 2022

The CFPB plans to issue a final rule implementing Section 1071 small-business reporting requirements by the end of March 2023, according to court filing. 2) To enable communities, governmental entities, and creditors to identify business and community development needs and opportunities of women-owned, minority-owned, and small businesses.

Lending 195

Lending Data Regulation Community 195

FICO

JANUARY 5, 2023

Four 2023 U.S. Open banking, BNPL, cybersecurity and AI will all be under the microscope for regulators and policymakers, but not all areas will see major action in 2023. Thu, 01/05/2023 - 15:45. For those in the financial services industry, 2023 will be the year when U.S. FICO Admin. Tue, 07/02/2019 - 02:45.

Policies 52

Policies Company Regulation Risk Management 52

CFPB Monitor

JULY 5, 2022

The target date for implementing this process is January 1, 2023. The GAO conducted the performance audit from January 2021 to June 2022.

Lending 78

Lending Report Policies Handbook 78