Perficient

NOVEMBER 27, 2023

In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. Build a reliable risk management strategy using accurate estimations and predictions. This blog was co-authored by Carl Aridas and Joel Thimsen.

Industry 221

Industry Regulation Compliance Data 221

Abrigo

DECEMBER 18, 2023

Stress testing, monitoring are essential Financial institutions should challenge assumptions about CRE risk while also watching for red flags as they manage the CRE portfolio. Bankers should examine warning signs and shore up defenses for existing income-producing CRE loans as part of commercial property loan risk management.

Risk Management 221

Risk Management Management Lending Capital 221

Abrigo

SEPTEMBER 20, 2023

Regulators take risk seriously, and knowing just how much risk your institution can take while remaining compliant is essential. Despite their size, this Miami credit union still took on giant risks that, according to FinCEN, exposed the United States financial system to significant opportunities for money laundering and terrorist financing.

Compliance 150

Compliance Regulation Miami Fraud 150

PYMNTS

SEPTEMBER 13, 2020

Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported. In a joint statement Friday (Sept. In a joint statement Friday (Sept.

cryptocurrency 363

cryptocurrency Regulation Policies Conference 363

Abrigo

OCTOBER 17, 2023

Why change management is vital for banks and credit unions Regulators promote change management to manage risk, but banks and credit unions can also achieve important benefits when they manage change. This article describes recent comments by financial regulators about managing change.

Management 195

Management Lending Risk Management Strategy 195

Abrigo

MAY 20, 2022

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. Takeaway 1 Aside from meeting examiner expectations, proper model risk management can protect your institution from unnecessary risk. . FDIC Update.

Risk Management 195

Risk Management Management FDIC Meeting 195

Abrigo

AUGUST 1, 2022

Best practices for assessing models and managing risk Sound model development, implementation, use, and validation is especially important as CECL models debut. . Takeaway 2 Even small banks or credit unions not regulated by the Federal Reserve are required to address control risks from models. MRM and model validation regulations.

Risk Management 195

Risk Management Management Regulation Analysis 195

Abrigo

OCTOBER 28, 2022

Managing loan workouts and modifications Tips for preparing your bank or credit union to handle an increased volume of problem loans while ensuring prudent credit risk management. Takeaway 2 Meanwhile, banks and credit unions will likely see a beefed-up regulatory emphasis on credit risk management practices, especially tied to CRE. .

Management 195

Management Risk Management Policies Lending 195

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." So how can banks help customers keep up in uncertain markets?

Risk Management 195

Risk Management Management Policies Lending 195

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam.

Regulation 195

Regulation Fraud Compliance Lending 195

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. These technologies are also used to better target marketing in retail and customize trade recommendations in wealth management. Risk Management. Credit Decisions. Textual analysis. Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam.

Regulation 195

Regulation Fraud Compliance Trends 195

PYMNTS

DECEMBER 28, 2020

But in doing so, it will now face more scrutiny from regulators, Bloomberg reported. Guy Hirsch , managing director for the U.S. Regulation will be more of an issue for crypto companies the bigger and more ubiquitous they become, Bloomberg reported. In January, by contrast, it sat at just $7,200.

Regulation 250

Regulation Report Bitcoin cryptocurrency 250

PYMNTS

JULY 19, 2020

Equity crowdfunding program Equifund CFP is launching a Regulation Crowfunding offering to help cannabis tech company Drop Delivery raise money for its all-in-one delivery system for cannabis products, according to a press release. All of it, the release stated, will aid businesses in growing customer bases and becoming establish.

System 218

System Capital Payments Regulation 218

Abrigo

JUNE 7, 2021

Risks ALM Addresses Will Affect Performance and Strategy Asset/liability management models and processes address credit risk, liquidity risk, and interest rate risk. . Good asset/liability management, he says, “is knowing how much risk do we take.” It’s about how to make decisions inside the bank to manage risk. lines of credit.

Management 195

Management Risk Management Capital Regulation 195

Perficient

NOVEMBER 30, 2022

Our Payments Practice recently had the opportunity to represent Perficient at the 2022 Real-time Payments & Fraud Management Summit held in New York City. . The conference was attended by several Financial Institutions, Service Providers, Fintechs, and Industry Regulators. Industry demand and use cases are maturing. .

Fraud 275

Fraud Management Payments New York City 275

Cisco

NOVEMBER 1, 2022

In 2017, New York Department of Financial Services (NYDFS) passed cybersecurity regulation 23 NYCRR 500, requiring all financial services companies to implement multi-factor authentication (MFA). According to the NYDFS cybersecurity regulations, there are common MFA violations that have occurred across financial service organizations.

Regulation 124

Regulation Security System New York 124

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

PYMNTS

JANUARY 12, 2020

Wells Fargo is striving to revamp its approach to technology to ensure systems stay online, satisfy regulators and block cybercriminals, the Wall Street Journal (WSJ) reported on Saturday (Jan. He said repairing problems pointed out by regulators is his “first priority.”

System 147

System Regulation Resources Meeting 147

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

Compliance 221

Compliance New York Regulation Analysis 221

PYMNTS

OCTOBER 11, 2018

Mitek Systems , the financial technology provider to banks, is pushing back from a takeover offer from Elliott Management , the hedge fund and ASG Technologies , the software company. Reuters noted that last year ASG received an investment from Evergreen Coast Capital, the private equity arm of activist hedge fund Elliott Management.

System 108

System Technology Management Montana 108

PYMNTS

JULY 17, 2020

Chinese regulators have seized control of nine financial institutions (FIs) alleging they violated rules and jeopardized the country’s financial system. Only through a regulator takeover can the problems be forcibly dealt with through administrative measures.”.

Regulation 151

Regulation Security Regional System 151

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

Perficient

OCTOBER 27, 2022

In addition, the regulators are trying to keep as many resolution options as possible open for the FDIC to resolve a firm in a way that minimizes the long-term risk to the Deposit Insurance Fund (DIF). The required long-term debt could be imposed not only on Category I but also on Category II and III bank organizations.

Capital 275

Capital Regulation FDIC Regional 275

PYMNTS

AUGUST 6, 2020

CONA already has an existing Hyperledger Fabric system developed in conjunction with SAP that allows bottlers to share data. “A The goal of the new project is to bring external suppliers, such as the manufacturers of cans and bottles, onto the system. Some of that was due to social-distancing regulations in China.

Management 219

Management blockchain America cryptocurrency 219

PYMNTS

JANUARY 26, 2021

Add “lobby and visitor management” to the list of tech industries that have seen a spike in demand as companies contend with an ever-changing list of COVID-19-era requirements needed to safely and swiftly move people and packages in and out of their businesses. Are we being compliant with government regulations? Mashiyev recalled.

Management 291

Management Company US Compliance 291

Bobsguide

FEBRUARY 17, 2020

Large banks are struggling to develop money management apps to rival challengers, according to Mark O’Keefe, Payments Systems Regulator (PSR) panel member and founding director at Optima Consultancy. “There's a lot of talk, and I think this is probably a theme that you see from.

Management 166

Management Regulation System Payments 166

PYMNTS

MARCH 17, 2019

The People’s Bank of China (PBOC) announced that it is planning to steadily develop a system of rules to regulate financial technology (FinTech) in the country. A lot of companies are not [there] in terms of their business plan, in terms of their risk management process, in terms of their overall management,” he said. “A

Regulation 192

Regulation Fintech Phoenix Risk Management 192

PYMNTS

DECEMBER 9, 2020

And new regulations are taking root or are on the horizon to help protect consumers, their data and how that data might be used. But Joe Bloemendaal , digital strategist with Mitek Systems , told PYMNTS in a recent interview that companies can prepare for regulatory changes in ways that build trust and even lead to new revenue streams.

Regulation 234

Regulation Security Data Course 234

Abrigo

MAY 30, 2019

An institution needs a system that will adapt and withstand the changes associated with growth. Consider your regulator’s feedback. Did he or she say it’s time to automate and/or move toward a more robust system? Regulators often know when it’s “time” and they may expect to see improvements by your next exam. Whitepaper.

System 150

System Software Regulation Report 150

Abrigo

APRIL 15, 2022

ALM & Measuring Liquidity Risk at Banks and Credit Unions Regulatory agencies expect financial institutions to manage liquidity risk using processes and systems commensurate with the complexity, risk profile, and scope of operations. ALM 101: Introduction to Asset/Liability Management. This is the fourth post in a series.

Management 195

Management Meeting Risk Management Operations 195

PYMNTS

DECEMBER 16, 2019

NPCI, the payment regulator governed by the Reserve Bank of India (RBI), launched real-time payments in 2016. First, UPI is an interbank transfer system. … Second, it is a real-time system. The system in India was quickly and widely adopted, and jumped from 100,000 monthly transactions three years ago to 1.15

Google 144

Google System Payments Study 144

Abrigo

DECEMBER 22, 2023

Takeaway 2 The top lending and credit blog posts focused on the benefits of banking technology, interest rate management, and developing risk ratings. They’ve also focused on managing interest rate risk in a rising rate environment. You might also like this resource, Abrigo's "2022 Loan Review Benchmark Survey Results."

Lending 221

Lending Risk Management Community Management 221

Abrigo

NOVEMBER 15, 2019

Many of the objectives of a credit risk review system support business goals. Regulators consider an effective loan review system vital for financial institutions’ efforts to meet safety and soundness standards. Objectives of effective credit risk review systems. Identify problem loans early. learn more.

System 150

System Lending Compliance Risk Management 150

PYMNTS

NOVEMBER 16, 2020

The European Central Bank (ECB) has plans to independently investigate an incident that affected its TARGET2 real-time gross settlement system on Oct. 23 this year, which resulted in a near 10-hour outage, according to a press release.

System 217

System Payments Operations Software 217

Bobsguide

FEBRUARY 28, 2018

bobsguide takes a look at the plethora of geopolitical, regulatory, customer, operational and market risk challenges facing asset managers in 2018. MiFID II, the General Data Protection Regulation (GDPR) and the Common Reporting. Whether it is a large and cumbersome regulatory environment (e.g.

Management 104

Management System Regulation Operations 104

Independent Banker

JUNE 30, 2022

We have forward indicators that the Fed will raise interest rates four to six times over the next year,” says Gary Lewis, managing director of lending and deposit solutions for Jack Henry & Associates. It also makes a good impression on regulators. Regulators are fearful of banker complacency,” he observes.

Management 103

Management Community Bank Community Regulation 103