Abrigo

JANUARY 14, 2021

How Institutions Can Avoid Fraud Surprises in the Next Round of the PPP BSA and fraud professionals saw a spike in PPP fraud during the first two rounds of funding. How can they be better prepared to prevent fraud in this next round? Stopping PPP Fraud in New Round of Funding. PPP Fraud Spikes.

Fraud 195

Fraud Compliance Community Trends 195

Abrigo

JUNE 28, 2023

Share these reports on AML activities to inform directors Reporting to the board on AML and fraud compliance is an essential obligation. Takeaway 3 Recommended reports on AML and fraud metrics for the board include those on high-risk customers and trends on types of fraud and suspicious activity seen.

Compliance 195

Compliance Fraud Report Trends 195

Abrigo

DECEMBER 5, 2023

BSA training and experience must be extensive to meet regulatory expectations of a BSA Officer being competent and able to execute all duties effectively. Financial services experience: Practical experience in the banking or financial sector, especially in compliance, risk management, or auditing roles, is invaluable for a BSA Officer.

Training 221

Training Compliance Regulation Software 221

Abrigo

MAY 15, 2020

Key Takeaways Like other federal relief programs, the PPP has become subject to fraud. The first federal charges of PPP loan fraud have been made – and they're unlikely to be the last. From 9/11 to Hurricane Sandy, and now, during COVID-19, federal relief funds aimed to help people rebuild after a disaster becomes subject to fraud.

Lending 195

Lending Rhode Island Fraud Los Angeles 195

PYMNTS

APRIL 8, 2020

As the nation’s traditional financial institutions struggle to cope, alternative lending platforms and other B2B FinTechs are exploring how to put their own technologies to good use. Small businesses, meanwhile, can use the platform to apply online as fewer physical bank branches are available. Funding Circle. Wolters Kluwer.

Lending 245

Lending Fintech America Technology 245

Abrigo

JANUARY 30, 2024

Speakers at Abrigo’s ThinkBIG conference will: Spotlight current challenges facing banking professionals Provide industry best practices to drive growth and manage risk Offer advice on regulatory compliance. The Fighting Financial Crime track will focus on BSA compliance, anti-money-laundering (AML), and fraud detection topics.

Conference 195

Conference Arizona Phoenix Fraud 195

Abrigo

DECEMBER 14, 2023

Learn how to tap your data to generate management insights. The following steps can help narrow it down and focus your goals: Send out a simple, future-oriented survey to the board and executive management (read on for sample questions) to determine strengths, weaknesses, opportunities, and threats to your financial institution.

Lending 221

Lending Risk Management Meeting Survey 221

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

Conference 195

Conference Payments Fraud Data 195

Abrigo

SEPTEMBER 7, 2023

Adapt to a dynamic banking environment with real-time lending & credit data Lender dashboards and reports showing the lending pipeline, pricing trends, emerging risks, workflow bottlenecks, etc. Ironically, data for making lending and credit decisions for the financial institution can also be one of the toughest assets to harness.

Report 195

Report Lending Trends Data 195

Abrigo

JUNE 18, 2020

Key Takeaways The Paycheck Protection Program (PPP) has been a critical foothold for community financial institutions seeking to obtain and diversify business lending relationships. PPP opens the door for new business lending relationships. Reimagining branches post-pandemic to support business lending. learn more.

Lending 195

Lending Strategy Resources Community 195

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

Abrigo

DECEMBER 2, 2021

Using information from the core deposit study, bank or credit union management better understands depositor behavior and has critical information to develop pricing strategies and manage funding costs. You can also incorporate the results into the asset/liability management model and develop stress testing scenarios down the road.

Conference 195

Conference San Antonio Lending Fraud 195

Abrigo

FEBRUARY 8, 2022

Consumers are looking for speed without the hassle of mounds of paperwork and lengthy approval processes, whether with deposit or lending accounts. A qualified and experienced BSA/AML compliance officer must be designated to manage the AML program. Periodic BSA training must be given to all employees of the NBFI. BSA Training.

Compliance 195

Compliance Training Regulation Fraud 195

Abrigo

DECEMBER 30, 2019

This is a must-have risk management concept. Enforcement actions can lead to cease and desist of any mergers or acquisitions, new branches, and in some cases no lending or other growth avenues. Are you proactively monitoring the Dark Web to better protect against fraud? Avoid Conflicts of Interest Between Profits and Compliance.

Training 195

Training Compliance Leadership Fraud 195

Abrigo

NOVEMBER 21, 2019

Key Takeaways Now is a good time to plan 2020 BSA/AML training and efforts to educate clients and colleagues about BSA and fraud red flags. In fact, continuing education or training is one of the pillars for any BSA/AML compliance program. It's also a good time to enhance your institution's BSA/AML risk assessment.

Compliance 195

Compliance Training Fraud US 195

Abrigo

MAY 20, 2020

Manage PPP loans through forgiveness. Fraud Prevention. Fraud Trends. Fraud Prevention. Fraud Trends. SBA Lending. Bad Actors Emerge in PPP Lending – More Expected as Forgiveness Guidance Emerges. BSA Training. learn more. Recommendations. Financial Cybersecurity. Learn More. Learn More.

Fraud 195

Fraud Trends Lending Training 195

Abrigo

AUGUST 18, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Be aware of emerging fraud schemes. Any time there is a large-scale , global issue, you can expect to see a rise in fraud, and COVID-19 is no different.

Fraud 195

Fraud Trends Compliance Technology 195

Gonzobanker

MAY 4, 2022

Think digital currencies, embedded finance, BaaS, buy now pay later, gen 3 core systems, artificial intelligence and machine learning… How many of these would have been on any FI’s training curriculum even two years ago? The only thing worse than training your employees and having them leave, is not training them and having them stay.

Training 144

Training Survey System Data 144

Abrigo

MAY 5, 2022

Thankfully for bank and credit union executives, lenders, risk managers, and Bank Secrecy Act (BSA) Officers, banking podcasts and podcasts for credit unions are plentiful, and options are growing. Lending & Credit Risk. BSA Training. Fraud Prevention. Lending & Credit Risk. keep me informed. Whitepaper.

Community 195

Community Lending Maine Resources 195

Abrigo

NOVEMBER 15, 2019

Key Takeaways Effective credit risk review promotes lending agility. Effective credit risk review promotes lending agility. However, many community financial institutions derive a significant portion of income from lending. Furthermore, lending is a major source of risk for most banks and credit unions. Fraud Prevention.

System 150

System Lending Compliance Risk Management 150

CFPB Monitor

APRIL 1, 2021

fraud detection and financial crime monitoring). Augmenting risk management and control practices. The agencies observe that the potential risks associated with using AI are not unique to AI, such as creating operational vulnerabilities and consumer protection risks (fair lending, UDAAP, privacy). Fair lending.

Risk Management 78

Risk Management Training Lending FDIC 78

FICO

FEBRUARY 28, 2018

But how can it best be used to fight application fraud? It was not much before Deep Blue, in 1992, that FICO pioneered the use of artificial intelligence and machine learning to fight credit card fraud. Fraud losses on US credit cards were reduced by over 70% since the introduction of FICO’s real-time anti-fraud analytics.

Fraud 69

Fraud Analytics Regulation Examples 69

Independent Banker

MAY 31, 2022

Fraud and cyber attacks are on the rise, and at great expense to the industry. Here are some ideas for strengthening fraud defenses. Fraud and cybercrimes continue to increase, causing challenges for community banks. Fraud-fighting recommendations. Illustration by Cnythzl/iStock. By William Atkinson.

Community Bank 134

Community Bank Community Fraud Texas 134

Gonzobanker

JULY 13, 2023

Supervised machine learning is when a model is trained to predict outcomes from a dataset. With their focus on consumer lending, credit unions are especially interested in this technology. Bankers just need to determine which AI applications will help their institutions continue to grow while managing risk.

Technology 78

Technology Software social media Fraud 78

Abrigo

DECEMBER 7, 2021

Inherent risk is any activity or factor posed to the financial institution, notwithstanding applying any management or risk mitigation tools. After adjusting the inherent risk for the institution’s risk management controls, residual risk represents the bank or credit union’s current risk. Fraud Prevention. Fraud Trends.

How To 195

How To Fraud Analysis Compliance 195

South State Correspondent

OCTOBER 4, 2023

You will also end up cannibalizing existing balances, training customers to be rate-sensitive, and training employees, and you will be forced to spend more to keep those customers from walking out the door. Maybe technology and maybe fraud, but other than that, it is hard to duplicate that success rate. Marketing can.

Marketing 195

Marketing Taxes Training Management 195

Abrigo

JULY 16, 2021

Training: Ensure that front line and BSA staff understand the Priorities and typologies and red flags of each. BSA Training. BSA Training. Lending & Credit Risk. Hidden Costs of Managing Multiple Vendors. Understand what your risk is and what you are looking for. BSA Rules and Regulation. Learn More.

Community 195

Community Regulation Training Policies 195

PYMNTS

APRIL 25, 2016

Visa is determined to make EMV faster, Starbucks wants to make getting that cuppa joe faster, too, and is crushing it with mobile order ahead and the CFPB might be moving closer to having a fast exodus of the payday lending business once its rules drop. Overall, year over year, online fraud attacks have spiked 215 percent.

Lending 100

Lending Mobile Cards Fraud 100

Abrigo

APRIL 7, 2022

Takeaway 3 Short-term benefits are alluring, but a merger or acquisition is a long-term investment that requires careful management. When two financial institutions come together, the AML and fraud compliance functions will need to be consolidated. Does your staff have the bandwidth to manage a bigger or more complex organization?

Compliance 195

Compliance Policies Fraud Analysis 195

Abrigo

SEPTEMBER 5, 2019

When a community financial institution spends a lot of money on technology, the last thing management wants is to be disappointed. Financial institutions aren’t always good at creating and sticking to a business case for their technology investments, noted Martin, a management consultant who specializes in digital transformations with banks.

Software 150

Software Resources Training Community 150

PYMNTS

MAY 16, 2016

The alternative lending market is showing signs of defeat against traditional bank loans, and SMEs are strengthening their demands for more than the typical solutions currently offered by traditional FIs. In B2B payments, that means changes in how businesses access, protect and ultimately make their money. 65% of U.K. 65% of U.K.

Fintech 108

Fintech Lending Fraud Cards 108

PYMNTS

OCTOBER 10, 2019

As the October Digital Identity Tracker explores, the small business (SMB) lending and financial services industries have begun to dip their toes into more sophisticated identity validation tools. Yet, as small business financial management company Nav told PYMNTS in the Tracker, KBA still reigns supreme.

Strategy 124

Strategy Lending Knowledge Base Tools 124

Abrigo

JULY 12, 2021

The report shines a light on corruption, tax fraud, drug trafficking, and labor trafficking as being linked to environmental crime. BSA Training. Lending & Credit Risk. Hidden Costs of Managing Multiple Vendors. It looks to be a busy upcoming year ahead. Gain confidence in your BSA program. Learn more. Learn More.

Training 195

Training Policies United States Report 195

Gonzobanker

JANUARY 11, 2024

Tomorrow’s Smarter Bank leaders will cultivate managed chaos, inspire creative thinking and encourage results-driven action. And to be clear, “teams” will not be just groups of managers. Employee accountability to managers is usually clear. “The only thing that ever sat its way to success is a hen.”

Leadership 78

Leadership Management Examples Groups 78

FICO

APRIL 28, 2020

Our winners have innovated in lending, supply chain optimization, customer management, debt collection, fraud and financial inclusion. Vodafone UK , has transformed its customer onboarding experience using decision management technology in the cloud, enabling it to offer 24x7 support for all its channels.

Analytics 52

Analytics Fraud Management Innovation 52

Abrigo

JUNE 30, 2020

The coronavirus and work-from-home mandates have brought new challenges to an already stressful job held by banking professionals – whether they are BSA/AML professionals, lenders handling Paycheck Protection Program loans, or asset/liability managers. BSA Training. BSA Training. BSA Training. BSA Software. Learn More.

Meeting 195

Meeting Training Conference Software 195

Gonzobanker

OCTOBER 31, 2018

For years, banks have focused on deposits for driving low cost funds to support commercial lending, but in today’s banking landscape, deposits are making a resurgence as the priority. Branch managers need to be thinking about what they are really losing by not training and educating the workforce. What is a credit score?

Training 84

Training Fraud Management Tools 84