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. Explore our Risk and Regulatory service offerings page to discover how Perficient can fortify your business against regulatory challenges today!

Compliance 221

Compliance New York Regulation Analysis 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. asokolowski. Fri, 06/03/2022 - 12:24. by Darryl Knopp. expand_less Back To Top. Darryl Knopp.

Report 52

Report Risk Management Compliance Analytics 52

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

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. Watch this webinar, "Understanding audit and regulatory expectations for CECL."

FDIC 195

FDIC Regulation Strategy Data 195

FICO

SEPTEMBER 30, 2022

Meet Our 2023 FICO Decisions Awards Judges. FICO has announced its panel of independent judges for the 2023 FICO® Decisions Awards , which honor businesses achieving outstanding results using analytics and decision management technology to grow their business, manage risk and reduce costs. Saxon Shirley.

Meeting 52

Meeting Analytics Management Strategy 52

Perficient

JANUARY 3, 2024

However, as remote work has become the new norm, the Securities Exchange Commission (SEC) has provided its approval to revise Rule 3110, easing the requirements for brokers choosing to work from home. The SEC approved FINRA’s revisions to Rule 3110 in November 2023, with the effective date yet to be announced.

Compliance 221

Compliance Risk Management Regulation Industry 221

BankInovation

SEPTEMBER 20, 2023

1 risk management concern, according to a poll taken Monday during a risk-management session at the Sibos 2023 event this week. “Our Our ability to succeed in payments over the long haul is fundamentally rooted in this concept of embracing uncertainty while managing risk,” […]

Risk Management 69

Risk Management Management Payments Security 69

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. Buy-Now-Pay-Later Will Win on Customer Experience but Needs Enhanced Security.

Fraud 52

Fraud Payments South Carolina Compliance 52

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 195

Lending Trends Capital Strategy 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

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

Abrigo

JANUARY 27, 2020

Strengthen credit risk by improving underwriting. NCUA examiners will place emphasis on the credit union’s loan underwriting standards and procedures as credit risk management is a fundamental part of the supervisory process. Examiners will be working with credit union management to discuss plans to implement CECL.

Risk Management 195

Risk Management Regulation Management Report 195

South State Correspondent

JANUARY 30, 2023

The drop in liquidity ratios is expected to accelerate through 2023. We expect this ratio to continue to increase through 2023 as the Fed drains liquidity and the impact of previous rate increases works through the banking system. The net non-core funding dependence ratio is shown in the graph below.

Community Bank 195

Community Bank Community Strategy Management 195

Abrigo

SEPTEMBER 22, 2021

CECL disclosure requirements for 2023 filers and others New disclosures are required under CECL in some cases. PCD Disclosures Some disclosures are the same, but disclosures tied to PCD accounting and AFS debt securities are changing under CECL. Here’s how they’re changing for financial institutions. Stay updated on all things CECL.

Security 195

Security Examples National Report 195

FICO

MAY 19, 2023

Prosper also proactively mitigates credit risk and meets the increasing credit demand for creditworthy customers based on their monthly updated FICO® Scores. As of March 2023, Prosper has effectively managed credit limit changes for over 25,000 customers, with over 70 percent of them receiving credit limit increases.

United States 52

United States Lending social media Tools 52

Abrigo

FEBRUARY 14, 2023

The types of transactions excluded from the rule are trade credit, public utilities credit, securities credit, and incidental credit. Factoring, leases, consumer-designated credit used for business purposes, and credit secured by certain investment properties are also excluded transactions included in the proposed rule.

Data 195

Data Lending Compliance Resources 195

Abrigo

NOVEMBER 17, 2023

billion to fraud in 2022, a 44% increase over the prior year and a trend that has continued into 2023. Institutions must invest not only in advanced security measures and skilled personnel but also in client education and community engagement to combat fraud effectively. That equates to $35 billion annually.

Fraud 195

Fraud Training Trends Compliance 195

Abrigo

MARCH 31, 2023

NCUA expectations for credit unions post-CECL adoption The NCUA's focus on risk, especially credit risk, has implications for credit unions instituting CECL this quarter. The National Credit Union Administration (NCUA) emphasized interest rate, liquidity, and credit risk as the main areas for concern in its 2023 letter.

Risk Management 195

Risk Management Policies Capital Maine 195

BankUnderground

MARCH 6, 2024

Overall, UK corporate bond issuers appear broadly resilient to higher financing costs, but risks are higher for riskier borrowers particularly if the macroeconomic outlook and funding conditions were to deteriorate. What is refinancing risk? a) The total UK PNFC bonds shown in this chart excludes non-rated and withdrawn bonds.

Policies 71

Policies Lending Data Marketing 71

PYMNTS

MARCH 22, 2018

In fact, some estimate that the industry will become a $43 billion market by 2023 – and Sift Science is not the only player. In a very short time, Simility has come to be recognized as a thought leader in fraud and risk management,” said CEO and co-founder Rahul Pangam. For example, Palo Alto-based Simility received $17.5

Fraud 108

Fraud Atlanta Capital Big Data 108

PYMNTS

OCTOBER 16, 2019

A majority of FIs plan to invest more in financial crime compliance than fraud risk management, though 43 percent reported no integration between fraud and financial risk compliance. However, more than half (51 percent) characterized their AML risk assessment, specifically, as “very” or “completely” effective.

Compliance 123

Compliance Fraud Study Digital Banking 123

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. Data privacy and security is a hot topic and is only getting hotter. By Katie Kuehner-Hebert. Bob Hickok.

Data 91

Data How To Community Bank California 91

FICO

JUNE 15, 2023

Wed, 03/08/2023 - 22:14 jessica shortt by TJ Horan Vice President, Product Management expand_less Back to top Thu, 06/15/2023 - 15:05 As someone who has made a career in the payments industry, I feel a little weird making this bold statement: it has become too easy to send money to other people. Is Sending Money Too Simple?

Fraud 52

Fraud South Carolina Survey Management 52

FICO

MAY 10, 2023

ChatGPT says orchestration is “important in software because it helps manage complex systems made up of multiple components or services that need to work together to achieve a desired outcome.” This is especially true for fraud and risk management as schemes become more complex.

Fraud 52

Fraud Management Customer Experience Analysis 52

FICO

JULY 30, 2019

Data sharing for these purposes should be non-competitive: fraud is everybody’s problem, but still relies on a common definition of what data to share, where to securely host the data, how regularly it should be updated and what mechanisms are available to access the consortium data.

Fraud 52

Fraud How To Analytics Analysis 52

Abrigo

FEBRUARY 8, 2024

consumers lost billions of dollars due to fraud during 2023. Takeaway 2 Client fraud education at financial institutions should include takeaways that explain how to protect themselves from phishing and tips for staying secure online. billion was lost to fraud through social media between January 2021 and June 2023.

Fraud 195

Fraud Resources social media Software 195

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. And quite frankly, I did not know there were so many tranches to mortgage-backed securities. trillion failed. Let those numbers sink in a bit.

FDIC 78

FDIC Community Bank Regulation Lending 78

Abrigo

APRIL 22, 2024

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. When a small business owner can upload supporting documents securely anytime from anywhere, the bank or credit union spends less time chasing documents.

Lending 243

Lending St. Louis Community Marketing 243

Gonzobanker

JANUARY 4, 2023

Risk plan – Operational risk management is a company-wide discipline that has become the focus of regulators, boards, and the “C” level. They will have some piece of it, though, such as reviewing outsourced disaster recovery and information security plans. digital banking). We’ll opt for the former. Christian Lange.

Technology 78

Technology System Software Groups 78

Abrigo

DECEMBER 22, 2023

The most popular financial crime blogs in 2023 Check fraud, the SAFER Banking Act, and BSA exam topics were among Abrigo's top blogs on AML/CFT and fraud this year. Abrigo, a leading technology provider of software solutions for financial institutions, published more than 30 risk management articles on its industry-focused blog in 2023.

Fraud 221

Fraud Training Compliance Trends 221

Gonzobanker

DECEMBER 14, 2023

While Huntington is down like most bank stocks, the pain hasn’t been as severe, and Huntington doubled down on local markets in 2023 by consolidating business units. Importantly, Huntington has continued to focus on digital investments and its strong legacy of product management to remain a progressive regional bank. What a year.

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% Usually, a bank spends about 8% of its revenue on IT. Last year and this year, most of the net change resulted from revenue changes, and the percentage spent has been consistent.

Capital 195

Capital Operations Customer Experience Comparison 195

Abrigo

JULY 7, 2022

With thousands of banks and credit unions pushing to implement the current expected credit loss, or CECL, accounting standard by the 2023 deadline, auditor and regulatory expectations are top of mind. Dyer said a majority if not almost all of his firm’s clients are doing multiple economic scenarios, particularly for secured portfolios. “I

Regulation 195

Regulation Management Video Data 195

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

MARCH 12, 2021

Board updates are vital for CECL 2023 adopters. CECL updates for directors are critical for financial institutions transitioning to the current expected credit loss (CECL) standard in 2023. It's also beneficial for helping management secure buy-in from key operations involved in the transition. Portfolio Risk & CECL.

Resources 195

Resources Management Capital Meeting 195

Abrigo

JUNE 15, 2023

national security and the integrity of the U.S. DOWNLOAD Risk factors Red flags for money laundering through real estate In February 2022, FinCEN issued an Advance Notice of Proposed Rulemaking (ANPRM) for certain persons involved in real estate transactions to collect, report, and retain information. financial system.”

Training 195

Training Regulation Compliance System 195

American Banker

MAY 29, 2023

(..)

Regulation 41

Regulation Risk Management Policies Data 41