Perficient

FEBRUARY 2, 2023

In 2023, we expect to see this response exaggerated and heightened. One example of this effort, which we expect to see more of in 2023, is biometric payments. In 2023, we anticipate that more and more vendors will hop on the Instagram Shopping train. Here are some of the biggest payment trends we’re forecasting for the new year.

Industry 471

Industry Trends social media Payments 471

Perficient

FEBRUARY 22, 2023

In the banking industry, RPA is being used to automate a wide range of processes, from loan origination and account opening to back-office processes, such as compliance and accounting.

Trends 474

Trends North Carolina Customer Experience Charlotte 474

Perficient

SEPTEMBER 11, 2023

Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations. This month, the Federal Deposit Insurance Corporation (FDIC) launches it new Banker Engagement Site (BES) through FDIC connect.

Compliance 221

Compliance FDIC Tools Leadership 221

Abrigo

FEBRUARY 10, 2023

Keep leadership informed on AML/CFT trends to ensure a strong culture of compliance at your financial institution. Now that FinCEN is tasked with developing a federal beneficial ownership registry, financial institutions can expect more rulemaking around BOI in 2023. Takeaway 2 The registry is intended to reduce loopholes in the U.S.

Fraud 195

Fraud Training Regulation Compliance 195

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. He passed away in January 2023. The Worst Day of the Year Award – goes to May 1, 2023, when First Republic Bank failed. What a year.

Fintech 190

Fintech Community Regional Technology 190

Perficient

AUGUST 16, 2023

On Monday, July 31, 2023, all four branches of Heartland Tri-State Bank were reopened as Dream First Bank branches. The FDIC’s Division of Liquidation then brokered a deal for Dream First Bank, a National Association of Syracuse, Kansas, to take over the branches of Heartland Tri-State Bank.

United States 221

United States Kansas FDIC Risk Management 221

South State Correspondent

JANUARY 4, 2023

A potential economic slowdown, slower rate rises, an inverted yield curve, and deposit stress likely make 2023 a trying year compared to 2022. In the past, you have seen us rank customer relevance and total experience as a top priority for banks – not in 2023. Financial pressure will be greater, and bank margins will be higher.

Community Bank 195

Community Bank Capital Marketing Lending 195

Abrigo

NOVEMBER 9, 2022

Financial institutions work to meet Q1 2023 CECL deadline A CECL implementation survey by Abrigo found progress by financial instittuions is mixed ahead of the upcoming deadline. . In many cases, financial institutions adopting CECL for the 2023 deadline are tracking ahead of where SEC registrants were as they faced a 2020 deadline.

Survey 195

Survey Software Resources Meeting 195

CFPB Monitor

APRIL 12, 2023

In the March 2023 issue of Consumer Compliance Supervisory Highlights , the FDIC discusses consumer compliance issues identified by its examiners during supervisory activities conducted in 2022 involving referral arrangements, trigger leads, servicemember protections, and fair lending compliance. Compliance Issues.

Compliance 78

Compliance FDIC Lending Trends 78

Perficient

OCTOBER 30, 2024

As part of the regulatory process, FinCEN may consider how financial institutions are currently using innovative approaches to compliance such as machine learning and AI, and the potential benefits and risks of specifying standards for those technologies.

Regulation 221

Regulation FDIC Compliance Innovation 221

South State Correspondent

OCTOBER 26, 2023

The discussions were healthier, more compliance-focused, and with little expectations that banks were going to offer crypto to their customers any time soon. Regulators will want more compliance bodies, more compliance/risk technology, or both out of almost every BaaS bank.

Conference 221

Conference Las Vegas Fraud Data 221

Perficient

FEBRUARY 2, 2024

Our Expertise Perficient launched its Risk and Regulatory CoE in October 2023 to proactively address compliance issues. The public comment period closes on November 30, 2023, and agencies are finalizing the development of the guidance, to be published in the Federal Register.

Compliance 221

Compliance Software Trends Strategy 221

Perficient

DECEMBER 21, 2023

A Brief Overview Initially slated for comments by November 30, 2023, the proposed rule mandates specific financial institutions to issue and maintain a minimum amount of outstanding long-term debt (LTD), including: Large depository institution-holding companies U.S. Email: Send your comments to regulationshelpdesk@gsa.gov.

DC 221

DC FDIC Washington Compliance 221

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. Impacted institutions are subject to significant fines relative to the level of non-compliance identified by the regulators.

Compliance 221

Compliance New York Regulation Analysis 221

American Banker

AUGUST 8, 2024

s focus on implementing stricter control over brokered deposits is misguided, a former chairman on the agency writes, and misses the real lessons of 2023's bank failures. The Federal Deposit Insurance Corp.'s

FDIC 78

FDIC Community Bank Community Compliance 78

Perficient

DECEMBER 29, 2023

In conjunction with the Amended Restoration Plan, the FDIC Board increased deposit insurance assessment rates by 2 basis points for all insured depository institutions, effective in the first quarterly assessment period of 2023. As of June 30, 2023, the DIF balance stood at $117B. percent as of June 30, 2023.

FDIC 221

FDIC Leadership Compliance US 221

Perficient

NOVEMBER 6, 2024

SEC The Securities and Exchange Commission (SEC) issued a proposed rule in July 2023 to address conflicts of interest associated with broker-dealers’ and investment advisers’ use of predictive data analytics (“PDA”) and similar technologies, including AI.

Regulation 221

Regulation Compliance Analytics Policies 221

CFPB Monitor

JULY 24, 2023

In an unusual move, Laura Akahoshi, former Rabobank (the “Bank”) Chief Compliance Officer (“CCO”), filed on July 6, 2023 an opposition to the Office of the Comptroller of the Currency’s (“OCC”) dismissal of its own administrative enforcement proceeding against her. Akahoshi filed her petition in the U.S.

Compliance 78

Compliance 78

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

BankInovation

DECEMBER 26, 2023

Following are the editors’ favorite AI features of 2023: […] From AI-driven credit decisioning to implementation and generative AI, FI executives shared how the technology is changing the industry.

Industry 77

Industry Technology Compliance 77

Banking Exchange

JANUARY 16, 2023

Chief risk officers say they are seeing cybersecurity risks everywhere, new survey shows Risk Management Feature3 Feature Cyberfraud/ID Theft Compliance/Regulatory Operational Risk Security

Risk Management 139

Risk Management Compliance Survey Security 139

Cisco

APRIL 2, 2024

Record-Breaking Security Vulnerabilities in 2023 According to data from Statista , the amount of vulnerabilities recorded in 2023 hit a record number with 29,000 new vulnerabilities reported. This is… Read more on Cisco Blogs

Compliance 62

Compliance Security Data Report 62

Jeff For Banks

DECEMBER 10, 2023

As a point of reference, the S&P US BMI Bank Total Return Index for the five years ended December 7, 2023 was 23.32%. It had $447 million of assets and $121 million of equity at September 30, 2023. For the third quarter 2023, net interest margin was 4.10%, ROA was 1.42%, and ROE was 14.95%.

Fresno 98

Fresno North Carolina Raleigh FDIC 98

Abrigo

MAY 30, 2023

DOWNLOAD Takeaway 1 The effective date of the CFPB's new rule based on Section 1071 of the Dodd-Frank Act is June 28, 2023. But compliance deadlines are tiered. Takeaway 2 Reporting tiers and their deadlines are based on the number of covered transactions to small businesses that a lender originated in 2022 and 2023.

Compliance 195

Compliance Lending Data Regulation 195

Banking Exchange

JANUARY 16, 2023

Merchants & Marine Bank and City National Bank have launched separate initiatives to support small businesses and local communities Community Banking Feature3 Feature Small Business Customers People Consumer Compliance

Community Bank 136

Community Bank Community Compliance National 136

Perficient

JANUARY 16, 2024

Background On October 19 th , 2023, the Office of the Comptroller of the Currency (OCC) published an article highlighting new enforcement actions and clarifying explicit rules regarding misconduct, particularly as it relates to financial abuse by senior-level management.

Compliance 221

Compliance Guidelines Policies Risk Management 221

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

Perficient

NOVEMBER 1, 2024

The following year, in December 2023, the US Treasury Department issued an RFI that sought input to inform its development of a national financial inclusion strategy; that RFI included questions related to the use of technologies such as AI in the provision of consumer financial services.

Regulation 221

Regulation US Community National 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.

Report 52

Report Risk Management Compliance Innovation 52

Abrigo

DECEMBER 22, 2023

The most-read lending & credit blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023.

Lending 221

Lending Risk Management Community Management 221

PYMNTS

OCTOBER 16, 2019

The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated. And yet, per that same study, 30 percent rate at least one of their AML components as being either “not at all” or only “somewhat” effective.

Compliance 123

Compliance Fraud Study Digital Banking 123

Abrigo

NOVEMBER 13, 2024

The latest data from Abrigo shows that even with a 350-basis-point increase in interest rates, the average DSCR for privately held businesses was 5.75x in 2023, nearly unchanged from 5.73x in 2019. See Abrigo Loan Origination Benchmarks for real-time data. Leverage actually decreased, showing that companies are not overextending themselves.

Lending 195

Lending Meeting Data Risk Management 195

Perficient

DECEMBER 28, 2023

The term “junk fee” has appeared in no fewer than 10 press releases in 2023 alone, signaling a broader concern for the CFPB. Starting in June 2023, the CFPB released several other press releases further criticizing practices they deemed inappropriate. Unexpected fees for a product or service.

Compliance 221

Compliance Regional Industry Leadership 221

Perficient

OCTOBER 1, 2024

Just before Christmas in 2023, December 23, 2023, to be precise, the Federal Deposit Insurance Corporation (“FDIC”) Board of Directors gave a Christmas gift that was the equivalent of coal in their stocking.

FDIC 251

FDIC User Experience Mobile Meeting 251

PYMNTS

AUGUST 14, 2019

We have received the data localization compliance system audit report from WhatsApp, which shall be reviewed in the next few weeks,” a Mumbai-based representative for NCPI said, according to Bloomberg. India’s digital payments market is expected to hit $1 trillion by 2023, according to a report by Credit Suisse Group AG.

Compliance 100

Compliance National Payments Trends 100

Perficient

NOVEMBER 27, 2023

According to The Forrester Wave : Process Intelligence Software, Q3 2023 report , “Customer-obsessed companies are adapting how they work internally to deliver shorter turnaround times at higher quality and/or lower cost. This has challenged many organizations to better optimize and intelligently automate business processes and experiences.

Industry 221

Industry Regulation Compliance Data 221