Abrigo

MAY 10, 2021

Knowing these elements of an LOS and an LOS vendor is critical for senior financial institution executives either shopping for an LOS for the first time or considering an improvement to their bank or credit union’s current business lending process. Lending process management is key to timely decisions. Workflow & Analysis.

System 195

System Lending Analysis Software 195

Independent Banker

OCTOBER 31, 2021

Offering digital lending isn’t about the bells and whistles. started developing its digital lending platform about three years ago—and the bank is really glad it did. “I’m Community bankers are increasingly recognizing that the future of digital lending is here. Illustration by Out of the box/Stocksy. By Beth Mattson-Teig.

Lending 91

Lending Community Bank Community North Dakota 91

Abrigo

JULY 20, 2021

From leveraging PPP technology to building relationships, reasons for boosting SBA lending are numerous. . Takeaway 1 SBA lending can expand your product offerings to help win deals with prospects and existing business customers or members. Why SBA Lending? Would you like others articles like this in your inbox? 1 and Sept.

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

MAY 15, 2020

As the initial rush to secure PPP loans dies down, financial institutions now face a new set of questions: How do financial institutions handle misused, unforgiven loans and fraudulent loans? Stay up-to-date on the latest updates to PPP loans and guidance by visiting Abrigo's PPP Lending Resource page. Lending & Credit Risk.

Lending 195

Lending Rhode Island Fraud Los Angeles 195

Abrigo

JUNE 12, 2020

Key Takeaways The soon-to-begin Main Street Lending Program (MSLP) aims to fulfill a need for mid-sized businesses to access relief funds amid the coronavirus pandemic. If a business secured a PPP loan, it is still eligible to apply for an MSLP loan; however, MSLP loans are not forgivable. While this is a promising sign, 13.3%

Maine 195

Maine Lending Regulation Resources 195

PYMNTS

NOVEMBER 3, 2020

3), stock exchanges in Shanghai and Hong Kong have suspended the looming IPO (initial public offering) in Ant Group, citing regulatory changes in the financial services landscape — and summoning executives including controller Jack Ma to meet with Chinese regulators at the China Securities Regulatory Commission.

Lending 199

Lending Meeting Groups Regulation 199

Abrigo

NOVEMBER 9, 2020

Sound loan administration software or systems will generate accurate, timely information in a secure environment. Loan administration is a basic and yet far-reaching process of lending. Is the financial institution’s loan administration software or system prompting action to be taken where warranted and documenting that action?

System 195

System Lending Software Risk Management 195

PYMNTS

OCTOBER 30, 2020

The Federal Reserve Board has modified the terms of the Main Street Lending Program (MSLP) to make it more obtainable for smaller businesses, according to a Fed statement on Friday (Oct. Loan documents outlining the modified terms are anticipated to be available sometime next week.

Maine 133

Maine Lending Security Payments 133

Abrigo

FEBRUARY 3, 2017

Most notably, the institutions recognized that change was overdue for their business lending programs. You typically play document ping pong for days/weeks, potentially pulling in your accountant, to ensure the institution has all the documents required. Everything is so slow-moving.

Lending 150

Lending Community Bank Meeting Community 150

Abrigo

MARCH 14, 2022

Adequate loan administration software will allow an organization to access the hundreds of thousands of documents that some banks have on file. The time it takes to produce these documents is also essential to consider. Access should be easy but not at the expense of data security. Data security.

Software 195

Software System Policies Data 195

Abrigo

APRIL 30, 2020

Key Takeaways Borrowers must document how their PPP loans are used Borrowers must maintain employee and compensation levels At least 75% of the loan must be used for payroll and other permissible expenses Borrowers must have "economic need" for a PPP loan. Loan proceeds aren't documented.

Los Angeles 273

Los Angeles Lending Resources Software 273

Independent Banker

AUGUST 31, 2022

This presents an opportunity to apply advances achieved in other lending areas, especially commercial lending, to transform ag lending. Innovations like these, applied to the farming industry, can accelerate the lending process for farmers, saving them time and money. The demand is evident.

Innovation 144

Innovation Community Bank Community Lending 144

Abrigo

SEPTEMBER 5, 2023

unsecured lending is bad rather than unsecured lending should only be extended to high pass risk rated credit). 3 categories of credit exceptions I would divide exceptions into three categories: structural credit exceptions, account management exceptions, and documentation exceptions. and property tax payments.

Policies 195

Policies Lending Risk Management Examples 195

Abrigo

DECEMBER 18, 2023

Critical capital Should CRE lending be off the table? Recent headlines may lead bankers to believe that shunning commercial real estate lending is the safest path to limit or avoid credit risk, given stresses on CRE and regulatory concerns. Loan documentation will be critical in upcoming exams.

Risk Management 221

Risk Management Management Lending Capital 221

Gonzobanker

MAY 31, 2019

Financial institutions that want to play in the small business lending sandbox need to bring their digital toys. But how can community banks successfully compete with big banks and fintechs that are spending billions on their digital lending capabilities? In a recent American Banker. In a recent American Banker. Source: DeBanked ).

Lending 136

Lending Community Bank Community Data 136

Perficient

FEBRUARY 29, 2024

Banking institutions are responding by integrating advanced technologies, particularly artificial intelligence and data analytics, into their lending operations to enhance efficiency and adaptability. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

AUGUST 4, 2017

Alternative lending was the golden child among investors around 2015, but lately, the industry seems to have fallen out of favor thanks to regulatory uncertainty and questions over the viability of some business models. Alternative Lending. 3) that it secured $250 million in equity funding from a subsidiary of SoftBank Group.

Lending 109

Lending Capital Fintech Data 109

Gonzobanker

SEPTEMBER 21, 2023

Core connectivity and API providers CFM and NXTsoft merged, acquiring document workflow provider IMM and rebranding as Kinective. Alogent acquired document imaging and tracking solution provider AccuSystems. Core10 secured a Series B funding round led by Patriot Financial Partners with JAM FINTOP and the ICBA.

Fintech 103

Fintech Software Illinois Lending 103

Gonzobanker

AUGUST 17, 2022

Lending Tech With Almost Steady Grades (Even With Rough Semesters). Mortgage services provider ICE acquired mortgage services provider Black Knight bringing together the two largest providers in the space.

Fintech 195

Fintech Lending Software Compliance 195

Abrigo

DECEMBER 8, 2016

As community banks and credit unions look toward 2017, many will be focusing on small business lending for loan portfolio growth, according to a recent Sageworks poll. However, small business lending comes with some unique challenges that banks and credit unions will need to address in order to grow their business lending portfolios.

How To 150

How To Lending Community Bank Community 150

Abrigo

JULY 5, 2020

Secure online portals allowed PPP loan applicants to upload required documents, and many credit unions finalized borrower applications with electronic signatures. But historically, SBA lending and member business lending isn’t a major focus among credit unions. A significant number of those were from new members.

Technology 195

Technology Lending Capital Meeting 195

Abrigo

OCTOBER 10, 2023

Industries with high barriers to entry can pose challenges for new businesses but make well-established businesses a more secure investment. At minimum, there should be some sort of analysis of the industry in your loan approval documentation,” said Kent Kirby, Director of Advisory Services at Abrigo.

Analysis 195

Analysis Industry Risk Management Lending 195

Abrigo

OCTOBER 15, 2020

Fraudulent (or lack of) supporting documents Supporting documents are a critical part of both the application phase and forgiveness phase of PPP lending. Ensure that adequate and accurate documentation is available to show how the funds were used, including documents to support payroll and tax forms. SBA Lending.

Fraud 150

Fraud Lending Los Angeles Taxes 150

PYMNTS

JANUARY 24, 2019

Data and analytics company Ascension has suffered a data leak that exposed more than 24 million loan and mortgage documents from some of the country’s biggest banks. Unfortunately, the server wasn’t password protected, giving anyone access to the documents. It’s those documents that were exposed, Diachenko said.

Taxes 155

Taxes New York Security Data 155

PYMNTS

MAY 31, 2016

Talks are underway for beleaguered online lender Lending Club to secure financing from Citigroup to back up the loans that the former arranges, Bloomberg reported on Thursday (May 26). It could be the case that, in an effort to attract new business/investors, Lending Club might boost rates, which would hit margins.

Lending 100

Lending Online Report Groups 100

PYMNTS

FEBRUARY 28, 2019

In Wednesday’s tweets, Cryptopia said it is “securing each wallet individually” for trading resumes. According to Bloomberg , Cagney’s new company, Figure , uses blockchain technology to supply home equity lending online in as little as five days. Last year, the U.S.

Bitcoin 129

Bitcoin Lending blockchain Payments 129

PYMNTS

DECEMBER 19, 2016

Other charges stemming from the case include smuggling precious metals, illegal possession of weapons and border crossing without the proper documentation. The report noted Ezubao , which is one of the larger peer-to-peer lending platforms in China, has allegedly created fake investment projects in an effort to collect 59.8

Lending 100

Lending Fraud Regulation Online 100

Abrigo

APRIL 22, 2024

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. You might also like this guide for smarter, faster small business lending. Record new business formation and a wider gap between U.S.

Lending 243

Lending St. Louis Community Marketing 243

PYMNTS

DECEMBER 9, 2020

Developing a quick, seamless and secure onboarding process for financial institutions (FIs), lending startups and other financial services providers has long posed its trials. The process involves capturing a user’s live photo to compare alongside an official document, such as an Aadhaar card, which bears a unique, 12-digit ID number.

Video 175

Video Capital Lending Security 175

PYMNTS

MARCH 10, 2016

It’s well-documented by this point that banks and other “traditional” avenues of financing are less than chomping at the bit to offer loans to small and mid-sized businesses. Frequently, the loan process is an arduous one and can take weeks or months. Thus, they may be perceived as demonstrating more risk.

Lending 100

Lending Capital Examples Operations 100

Abrigo

OCTOBER 21, 2019

We are seeing banks moving to the cloud for a number of services ranging from core processing to lending. Whether it’s external audits, testing, or attestation, look for the vendor to provide external assurance regarding the state of their secure practices and governance. Get it in writing. Know how many parties are involved.

Risk Management 150

Risk Management Management Lending Fraud 150

Abrigo

MAY 20, 2020

FinCEN reminds financial institutions that “detecting, preventing, and reporting COVID-19 scams and illicit activity is critical to our national security.” Lending & Credit Risk. Member Business Lending. SBA Lending. Lending & Credit Risk. SBA Lending. Lending & Credit Risk. SBA Lending.

Lending 195

Lending Fraud Training Report 195

Abrigo

FEBRUARY 23, 2023

At the same time, asset-based liquidity options at some community banks have been constrained by large unrealized losses in available-for-sale securities. The best lending software for small banks, for example, is flexible enough that it can be customer-facing for only those product types the bank chooses.

Community Bank 195

Community Bank Kansas City Community Lending 195

PYMNTS

JUNE 8, 2016

Well, one can say this much for Lending Club : For whatever difficulties it seems to have keeping paperwork straight and investors on its platform at present, it sure knows how to keep things interesting in payments and commerce. Going into the news today, the struggling online lending platform doesn’t bring just one story to the cycle.

Lending 100

Lending Meeting New York Online 100

Abrigo

OCTOBER 23, 2019

We are seeing banks moving to the cloud for a number of services ranging from core processing to lending. Whether it’s external audits, testing, or attestation, look for the vendor to provide external assurance regarding the state of their secure practices and governance. Get it in writing. Know how many parties are involved.

Risk Management 150

Risk Management Management Security Lending 150

Abrigo

MAY 13, 2020

In other words, some financial institutions will finally have the proof of concept that using technology to transform their usual business-lending processes is the way to go. ‘A small- and midsize-business (SMB) lending ecosystem acquired new capabilities via their participation in PPP,” the report said. Parties within the U.S.

Lending 195

Lending Report Technology System 195

PYMNTS

MARCH 9, 2020

To provide a digital lending offering for small business clients, Metro Bank has collaborated with banking software provider ezbob. By teaming up with ezbob, we’ll be able to help our customers secure the finance they need in a matter of minutes, giving them the edge in today’s competitive market.”.

Metro 142

Metro Lending Strategy Capital 142