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.

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New York Compliance Regulation Analysis 221

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Risk Management. AI may be used to augment risk management and control practices. The challenge is to ensure that the software being developed is not coded with biases. Textual analysis.

Regulation 309

Regulation Industry Risk Management Analysis 309

Insights on Business

JANUARY 3, 2019

But while mobile devices give us great power and convenience, they also create new security and privacy challenges. Cybersecurity risk is at or near the top of every list of concerns for these institutions. Simultaneously, regulators and auditors are issuing new cybersecurity regulations and guidelines.

Risk Management 128

Risk Management Management Regulation Guidelines 128

PYMNTS

OCTOBER 9, 2020

A government report found that airplanes have a number of digital technologies that might become susceptible to hackers and says American regulators have not put sufficient methods in place to contend with the risk, Bloomberg reported. The Government Accountability Office (GAO) noted in a report Friday (Oct.

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Report System Regulation Technology 348

South State Correspondent

MAY 7, 2024

On April 26, 2024, Republic First Bank (DBA Republic Bank) was seized by state regulators and the long running bank drama came to an end. This first bank failure in 2024 is reported to cost the Deposit Insurance Fund $667mm. In the last reporting period, the bank’s NCL-to-loans and NPA-to-asset ratios compared better to peers.

Risk Management 195

Risk Management Security Management Groups 195

PYMNTS

MARCH 26, 2018

Wells Fargo, weeks after it was hit with a rare enforcement action from the Federal Reserve, is overhauling its risk management processes and announced internally that four top risk management executives would be retiring. The corporate risk group now has more power to stop or modify business activities, noted the report.

Risk Management 100

Risk Management Management Compliance Groups 100

Perficient

AUGUST 16, 2023

A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday.

United States 221

United States Kansas FDIC Risk Management 221

Celent Banking

DECEMBER 13, 2016

But the slew of banking regulatory requirements for third party risk management is proving to be complex, all-consuming and expensive for both institutions and the third parties involved. In a nutshell, institutions are liable for risk events of their third and extended parties and ecosystems. " www.fdic.gov.

Risk Management 100

Risk Management Management Exercises FDIC 100

Abrigo

JULY 27, 2023

Of course, banks and credit unions are highly regulated industries, and this is increasing. They must not only comply with regulations aimed at protecting the safety of the FI but also those protecting the customers/members. Regtech in banking can be used in a variety of ways to enhance monitoring, reporting, and compliance.

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Of course, banks and credit unions are highly regulated industries, and this is increasing. They must not only comply with regulations aimed at protecting the safety of the FI but also those protecting the customers/members. Regtech in banking can be used in a variety of ways to enhance monitoring, reporting, and compliance.

Technology 195

Technology Fraud Compliance Regulation 195

South State Correspondent

APRIL 23, 2023

Analysts, regulators, legislators, and bankers have been attributing the root cause of SVB’s failure in the past month. Some blame the dilution of the Dodd-Frank provisions, others the lack of oversight by regulators, and others still blame social media for exacerbating the deposit run.

Management 195

Management Security Risk Management social media 195

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. Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations. Contact us today!

Compliance 221

Compliance Risk Management Regulation Industry 221

PYMNTS

JUNE 30, 2019

The Strategic Execution and Operations office, which is led by Derek Flowers, is said to be made of multiple teams, Seeking Alpha reported. In addition, Smith, as well as DuBose, will report to Mandy Norton, who is the chief risk officer. The executive would reportedly begin on September 3 and report to Norton.

Regulation 122

Regulation Risk Management America Operations 122

Insights on Business

JULY 30, 2019

stress tests.” – Basel Committee on Banking Supervision (BCBS) report, December 2017. The Basel Committee on Banking Supervision (BCBS) released a 2017 report noting that a key issue for banks is the lack of “systems needed to efficiently aggregate data from across the banking group for use in stress tests.”Advanced

Risk Management 70

Risk Management Analytics Technology Management 70

PYMNTS

JANUARY 26, 2021

Signal is exploring the idea of adding cryptocurrency payments into its messaging app by integrating MobileCoin , a cryptocurrency supported by the Stellar blockchain, Platformer reported. MobileCoin complements the privacy-focused app in that it is “more resistant to surveillance,” according to a 2017 Wired report.

blockchain 244

blockchain Guidelines cryptocurrency Marketing 244

PYMNTS

MAY 29, 2019

Reports in Reuters on Tuesday (May 28) said UBS expects its regulatory costs to remain high in the years ahead after a decade of more stringent regulations leading to heavier, more costly burdens on banks. UBS shed light this week on a persistent challenge in the traditional financial services industry.

Regulation 108

Regulation Compliance Capital Resources 108

PYMNTS

JUNE 30, 2019

The Strategic Execution and Operations office, which is led by Derek Flowers, is said to be made of multiple teams, Seeking Alpha reported. In addition, Smith, as well as DuBose, will report to Mandy Norton, who is the chief risk officer. The executive would reportedly begin on September 3 and report to Norton.

Regulation 100

Regulation Risk Management America Operations 100

Abrigo

JANUARY 24, 2024

These failures were primarily brought on by liquidity concerns around bank stability from severely decreased values of bank security portfolios and inadequate equity to absorb the hit. Outsourcing some or all of the ALM model or getting help with monthly ALM reporting can ease the burden.

FDIC 195

FDIC Regulation Strategy Data 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. DOWNLOAD Takeaway 1 With generative AI technology improving by the day, the question is not if the banking industry will utilize it, but when.

Risk Management 195

Risk Management Data Technology Fintech 195

Cisco

JULY 12, 2022

This leads to many generations of installed technology sets with diverse hardware and software systems, all that need to be tracked and managed, secured, and audited. Regular external examination is a necessary challenge to ensure hygiene of these systems are maintained amidst a backdrop of increasing cyber risk. In the U.S.

Regulation 71

Regulation FDIC System Software 71

South State Correspondent

APRIL 10, 2023

Nonetheless, with the recent collapse of sizeable regional banks, regulators, investors, analysts, accountants, and bankers are now scrutinizing the fair value of banks’ securities and loan portfolios. Fair Value of Loans The fair value of securities has made recent headlines with a focus on regulators, legislators, and bankers.

Community Bank 195

Community Bank Community Security Capital 195

PYMNTS

MARCH 29, 2019

Federal Bank in India has partnered with blockchain payments company Ripple to facilitate cross-border payments, according to reports. Powered by blockchain-enabled solution, the Ripple platform ensures cross-border transactions much safer and secured. ”. A central bank has to be on top to create regulations.

blockchain 241

blockchain Payments cryptocurrency Regulation 241

PYMNTS

JANUARY 28, 2019

Corporates aren’t prepared to tackle the headwinds of market risks, according to two separate reports released last week. FTI Consulting released its inaugural Resilience Barometer report during the World Economic Forum held in Davos, Switzerland last week.

Management 145

Management Risk Management Survey Security 145

Perficient

AUGUST 3, 2023

Highly regulated industries, such as the financial services industry, are especially interested in generative AI’s capabilities surrounding how it can support ever-transient regulatory and data governance demands.

Industry 83

Industry Risk Management Customer Experience Fraud 83

Abrigo

NOVEMBER 17, 2023

The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? This , of course , doesn’t include fraud losses that were not filed due to the victim's embarrassment or lack of knowledge on how to report. Measuring the cost of fraud losses.

Fraud 195

Fraud Training Trends Compliance 195

Abrigo

NOVEMBER 9, 2020

Sound loan administration software or systems will generate accurate, timely information in a secure environment. They will incorporate capabilities to address needs that can generally be grouped into three questions: Does the loan administration software or system capture or generate accurate, timely information in a secure environment?

System 195

System Lending Software Risk Management 195

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . Takeaway 1 A system for ongoing, independent credit risk review will not look the same from institution to institution. 7 Objectives of credit risk review.

System 195

System Lending Policies Regulation 195

Abrigo

JANUARY 27, 2020

The National Credit Union Administration (NCUA) has been working on their share of goal setting, as they have released their 2020 supervisory priorities for credit unions, regulation updates, and the agency’s modernization programs. “We Bolster BSA/AML through due diligence and reporting. BSA Rules and Regulation. Learn More.

Risk Management 195

Risk Management Regulation Management Report 195

PYMNTS

FEBRUARY 15, 2018

As was widely reported this past week, seven of them are trying to do so. He said that in his own state of Washington, state regulators have been looking at those issues for some time to determine the possibility of some sort of reciprocity or sharing of information. “It That comes as Open Banking bowed in Europe last month.

Washington 101

Washington Regulation Conference Fintech 101

CFPB Monitor

SEPTEMBER 8, 2022

Noting that BaaS is not an issue limited to large banks, he commented that banks and fintechs, “in an effort to provide a ‘seamless’ customer experience, are teaming up in ways that make it more difficult for customers, and regulators, and the industry to distinguish between where the bank stops and the tech firm starts.”.

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Fintech Risk Management Conference Lending 146

NCR

MARCH 1, 2016

As a result of the recession and market volatility, there has been a concerted effort in recent years throughout the banking industry to focus on a holistic approach to an institution’s overall risk management in order to achieve and sustain stability. Compliance Risk – The banking industry is highly regulated.

Risk Management 40

Risk Management Management Operations Meeting 40

PYMNTS

JULY 22, 2016

It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., Investors seem confident in the industry’s startups and their ability to provide adequate risk management and underwriting for their loans; VCs provided more than $11.5 ezyCollect.

Lending 100

Lending Regulation Big Data Risk Management 100

Abrigo

FEBRUARY 14, 2023

The regulation, expected to be finalized in weeks, outranked BSA/AML rules, beneficial ownership requirements, and current expected credit loss (CECL) obligations. What’s the purpose of reporting new data on small business loan applications? The "what," "who" and "why" Common questions about the 1071 rule What is the 1071 rule?

Data 195

Data Lending Compliance Resources 195

Celent Banking

JANUARY 19, 2016

Many large financial institutions spent in excess of $25 million on rolling out failed enterprise risk management frameworks during the 2000’s. Well for many obvious reasons, the most notable of which has been the large scale failure of institutions to manage their risks and the well-editorialized consequences of those failures.

Risk Management 100

Risk Management Management Regulation Policies 100

Abrigo

NOVEMBER 16, 2016

Bank regulators for many quarters have expressed concern about easing underwriting standards in commercial real estate lending, especially as examiners have noticed increased concentrations of CRE loans in financial institutions’ portfolios. 17 at 2 p.m.

Lending 150

Lending Survey Risk Management Regulation 150

PYMNTS

JUNE 18, 2020

legislators that digital currencies should have stricter supervision, CoinDesk reported. This raises the necessity of increased regulation of digital money,” he said, per the outlet. Meanwhile, an official at a publicly traded software firm told U.S.

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Bitcoin blockchain Payments Risk Management 141

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. Automated risk management solutions can be helpful in theory.

Compliance 191

Compliance Risk Management Training Analysis 191