Perficient

JULY 12, 2023

Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. The new federal risk guidance for banks does not remove the need for sound risk management. Introduction It’s not you. It’s the guidance. The complete 60+ page guidance is available to readers here.

Management 221

Management Risk Management Regulation Compliance 221

Abrigo

FEBRUARY 10, 2023

Keep leadership informed on AML/CFT trends to ensure a strong culture of compliance at your financial institution. Now that FinCEN is tasked with developing a federal beneficial ownership registry, financial institutions can expect more rulemaking around BOI in 2023. Takeaway 2 The registry is intended to reduce loopholes in the U.S.

Fraud 195

Fraud Training Regulation Compliance 195

Perficient

AUGUST 16, 2023

On Monday, July 31, 2023, all four branches of Heartland Tri-State Bank were reopened as Dream First Bank branches. To speak to a Perficient consultant about RCSA or any of Perficient’s risk management and regulatory capabilities, click here. billion in deposits), the failure still poses lessons for bank executives.

United States 221

United States Kansas FDIC Risk Management 221

Perficient

FEBRUARY 15, 2024

The announcement of significant amendments to the DFS500 regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector. Impacted institutions are subject to significant fines relative to the level of non-compliance identified by the regulators.

Compliance 221

Compliance New York Regulation Analysis 221

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

South State Correspondent

JANUARY 4, 2023

A potential economic slowdown, slower rate rises, an inverted yield curve, and deposit stress likely make 2023 a trying year compared to 2022. In the past, you have seen us rank customer relevance and total experience as a top priority for banks – not in 2023. Financial pressure will be greater, and bank margins will be higher.

Community Bank 195

Community Bank Capital Training Lending 195

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. The discussions were healthier, more compliance-focused, and with little expectations that banks were going to offer crypto to their customers any time soon.

Conference 221

Conference Las Vegas Fraud Case Study 221

Abrigo

NOVEMBER 9, 2022

Financial institutions work to meet Q1 2023 CECL deadline A CECL implementation survey by Abrigo found progress by financial instittuions is mixed ahead of the upcoming deadline. . In many cases, financial institutions adopting CECL for the 2023 deadline are tracking ahead of where SEC registrants were as they faced a 2020 deadline.

Survey 195

Survey Software Resources Meeting 195

Abrigo

DECEMBER 22, 2023

The most-read lending & credit 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. 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.

Lending 221

Lending Risk Management Community Management 221

Abrigo

MARCH 21, 2023

You might also like this video on managing interest rate risk. Takeaway 3 Diving deeper into depositor pricing and evaluating loan pricing to ensure compensation for the risk are among strategies to manage interest rate risk. 4.75% over the course of 2022 and 2023. 4.75% over the course of 2022 and 2023. billion – a 39.7%

Risk Management 195

Risk Management Management Strategy Lending 195

Banking Exchange

JANUARY 16, 2023

Chief risk officers say they are seeing cybersecurity risks everywhere, new survey shows Risk Management Feature3 Feature Cyberfraud/ID Theft Compliance/Regulatory Operational Risk Security

Risk Management 139

Risk Management Compliance Survey Security 139

Cisco

APRIL 2, 2024

Record-Breaking Security Vulnerabilities in 2023 According to data from Statista , the amount of vulnerabilities recorded in 2023 hit a record number with 29,000 new vulnerabilities reported. This is… Read more on Cisco Blogs

Compliance 62

Compliance Security Data Report 62

Jeff For Banks

DECEMBER 10, 2023

As a point of reference, the S&P US BMI Bank Total Return Index for the five years ended December 7, 2023 was 23.32%. It had $447 million of assets and $121 million of equity at September 30, 2023. For the third quarter 2023, net interest margin was 4.10%, ROA was 1.42%, and ROE was 14.95%. Congratulations!

Fresno 107

Fresno North Carolina Raleigh FDIC 107

Abrigo

OCTOBER 14, 2022

Fortify your credit risk management framework How to prepare your organization for scrutiny of its credit risk management practices during your next exam or review. . You might also like this whitepaper, "Stress Testing: Managing Capital Levels and Credit Risk." Cultivate talent. keep me informed. Know your limits.

Risk Management 195

Risk Management Management Policies Lending 195

Perficient

NOVEMBER 27, 2023

According to The Forrester Wave : Process Intelligence Software, Q3 2023 report , “Customer-obsessed companies are adapting how they work internally to deliver shorter turnaround times at higher quality and/or lower cost. Build a reliable risk management strategy using accurate estimations and predictions.

Industry 221

Industry Regulation Compliance Data 221

Abrigo

MAY 30, 2023

DOWNLOAD Takeaway 1 The effective date of the CFPB's new rule based on Section 1071 of the Dodd-Frank Act is June 28, 2023. But compliance deadlines are tiered. Takeaway 2 Reporting tiers and their deadlines are based on the number of covered transactions to small businesses that a lender originated in 2022 and 2023.

Compliance 195

Compliance Lending Data Regulation 195

Perficient

NOVEMBER 22, 2023

However, in October 2023, loan payments resumed, presenting new financial challenges. While the temporary pause was beneficial, it left numerous individuals still grappling with the task of managing their additional financial obligations. In the second quarter of 2023, the average credit card balance soared to a 15-year peak.

United States 221

United States Cards US Operations 221

FICO

NOVEMBER 21, 2022

FICO Ranks Top 5 in the 2023 Chartis RiskTech100® Report. FICO awarded first place in six categories on risk and compliance technology in the 2023 Chartis RiskTech100 ® Report, including Innovation for the sixth year in a row. Innovation – AI and Decision Management Platform (*New category win for FICO). asokolowski.

Report 52

Report Risk Management Compliance Analytics 52

Bobsguide

MAY 30, 2022

To better help asset managers of European funds be prepared for the upcoming compliance requirements and regulatory disclosure obligations under the Sustainable Finance Disclosure Regulation (SFDR), global Fintech leader Broadridge Financial Solutions has launched a new Environmental, Social and Governance (ESG) reporting solution.

Management 147

Management Report Regulation Data 147

FICO

JUNE 27, 2023

As a consequence of these increases in transactions and spend, the average active credit card balance for both March and April 2023, is 8.2 percent compared to February 2023; the percentage of accounts missing one credit card payment was up 22.8 percent higher than last year. In March, spend was down 6.1 percent and 9.4

Cards 52

Cards Trends Management Data 52

Abrigo

JANUARY 24, 2024

FDIC list The state of acquisitions in a rising rate environment According to the FDIC, there were 44 banks on the problem bank list in the third quarter of 2023, and the agency expects that number to continue to climb in 2024. Can your systems perform the critical day 2 accounting for accretion and amortization?

FDIC 195

FDIC Regulation Strategy Data 195

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 221

Training Compliance Fraud Policies 221

Perficient

JANUARY 3, 2024

Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations. This shift also led to technological advancements enabling firms to closely monitor broker activity to ensure full compliance at all times. Reduction in inspection frequency from annually to every three years.

Compliance 221

Compliance Risk Management Regulation Industry 221

Banking Exchange

JANUARY 6, 2023

Regulators have started 2023 with warnings surrounding investment in crypto for banks Risk Management Feature Feature3 Blockchain Bitcoin Cryptocurrency Digital Compliance Compliance/Regulatory.

Regulation 78

Regulation Risk Management Compliance Bitcoin 78

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 195

Training Compliance Fraud Policies 195

Alex Jimenez

NOVEMBER 4, 2023

Regulation and Compliance: Not one of the more exciting topics, but there seems to be a growing emphasis on FinTech regulation and compliance, particularly around industry stability and consumer protection. A version of this post was published on LinkedIn, November 1, 2023. The application of AI was highlighted many times.

Conference 84

Conference Meeting Trends Fintech 84

PYMNTS

OCTOBER 16, 2019

The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated. And yet, per that same study, 30 percent rate at least one of their AML components as being either “not at all” or only “somewhat” effective.

Compliance 123

Compliance Fraud Study Digital Banking 123

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). I joined Perficient through the Management Consulting business unit and started with FS a year ago.

Innovation 221

Innovation Risk Management Meeting Management 221

FICO

DECEMBER 20, 2022

5 Ways Digital Payments Will Change FIs and Fraud in 2023. Vice President, Product Management. As I look back on 2022, I’m reluctant to lean too far into predictions for 2023. But I’ll still weigh in with prognostications for 2023. FICO Admin. Tue, 07/02/2019 - 02:45. by TJ Horan. expand_less Back To Top.

Fraud 52

Fraud Payments South Carolina Compliance 52

BankInovation

JANUARY 18, 2024

Discover Financial Services invested in its integrated digital banking model, risk management, analytics and compliance initiatives in 2023 and expects to continue those efforts this year.

Digital Banking 64

Digital Banking Analytics Risk Management Compliance 64

Abrigo

OCTOBER 19, 2023

G2 is the world’s largest and most trusted tech marketplace where users can discover, review, and manage software. Over 2,500 community financial institutions currently rely on Abrigo’s software to help maintain compliance requirements, automate important processes, and drive data-based decision-making. “It

Software 221

Software Lending Resources Community 221

Perficient

NOVEMBER 10, 2023

This being the first blog post in a series of blogs by Perficient’s Financial Services Risk Management and Regulatory Capabilities Center of Excellence (CoE), we will be investigating the deposit structures of non-client banks over time. In the first quarter of 2023, these balances plunged over 40% due to reported U.S.

Risk Management 221

Risk Management United States FDIC Compliance 221

CFPB Monitor

JUNE 26, 2023

On June 16, 2023, Michael J. Hsu, Acting Comptroller of the Currency delivered remarks to the American Bankers Association Risk and Compliance Conference in San Antonio, Texas. In his remarks, Hsu discussed both the benefits and risks of artificial intelligence (“AI”) and tokenization. Continue Reading

San Antonio 78

San Antonio Texas Conference Compliance 78

Abrigo

JANUARY 30, 2024

REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.

Conference 195

Conference Arizona Phoenix Fraud 195

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. But fear not, compliance-conscious compadres.

Compliance 109

Compliance FDIC Strategy Fintech 109

Abrigo

MAY 24, 2023

Download now Takeaway 1 Under current federal law, banks and credit unions face federal prosecution and penalties if they provide services to legal marijuana-related businesses. Takeaway 2 Considering the urgent need for a legislative solution, the SAFE Banking Act of 2023 could bridge the gap between state and federal marijuana laws.

Lending 195

Lending Fraud Operations Ohio 195

Perficient

MARCH 17, 2023

It also highlighted how blockchain supports Supply Management by supporting parties while conducting transactions with each other through improved security, contract compliance, and cost reduction. Supporting large, cross-industry Supply Chain firms, he has a PMP certification and is a Six Sigma Green Belt project manager.

blockchain 275

blockchain Management Data Security 275