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Generative AI and the new loan review process The evolution of banking and riskmanagement over the past few decades has been nothing short of remarkable. Generative AI in credit riskmanagement is the latest step forward , offering a transformative approach to loan review. Data security is also a major concern.
Meeting investment accounting and reporting requirements The right technology tools can help institutions manage investment accounting compliance and risk exposure across various investment types. Investment accounting compliance not only minimizes operational risks but also reduces regulatory scrutiny.
As rates stay high, concerns about credit risk and borrower health are top of mind for bank and credit union leaders, especially as it relates to lending to small businesses. However, recent data from Abrigo shows that privately held companies across the U.S. are displaying their financial resilience. Nearly all U.S.
Connect with an expert Common fraud schemes Check fraud Check fraud is one of the most concerning fraud trends for community banks in 2025. These could be held in a local branch lobby, community center, or place of worship. 880,418 c omplaints were registered, with potential losses exceeding $12.5
This eBook explains the features of a Business Lending Platform that community banks should make their top priorities when evaluating any business lending software.
FinCrime fighters aren’t just checking boxes for compliance. At Abrigo, we’ve always focused on helping financial institutions thrive—not just for their own benefit but for the sake of the communities they serve. Making a difference in communities Banking is more than just numbers and transactions. It’s about relationships.
Community financial institutions have the expertise and local ties to support small businesses, but outdated processes and risk-averse approaches often slow down their loan decisioning. M anaging, not avoiding, small business lending A common reason banks hesitate to expand small business lending is the fear of risk.
This article is the first in a two-part series on top concerns and growth strategies of community banks. Regulatory compliance. Riskmanagement. These are all phrases that resonate with community bankers. Regulatory Compliance. Community bankers are not keeping these concerns to themselves.
Our recognition as the #3 community bank in the state by GOBankingRates in 2025 reflects our commitment to Growing, Together with the communities we serve. To stay ahead, we must blend our community roots with cutting-edge innovation. Example: During an audit, Copilot could compile all compliance emails from Outlook in minutes.
In September, the Office of the Comptroller of the Currency (OCC) published final guidelines designed to “strengthen the governance and riskmanagement practices of large financial institutions.” While the final guidance clearly applies to larger financial institutions, community banks should still take note.
Automation fosters efficiency, accuracy, and the support that community businesses need. It can automatically access credit scores and run loan details and borrower information against the financial institutions riskmanagement policies. Greater efficiency Less time on data entry means more focus on strategic lending decisions.
This is where Q factors become essential, offering a way to adjust for future uncertainties, management's insights, and external factors such as regulatory changes or local economic shifts. Properly applied, Q factors allow financial institutions to make their risk assessments more forward-looking and comprehensive.
Navigating interest rate management in today's environment As regulators focus on interest rate riskmanagement, read about what financial institutions can do to be ready for a rate drop. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for effective riskmanagement and compliance."
Community banks certainly want to remain conservative with risks and follow regulations. But shareholders also expect profitability and growth, while keeping costs, especially those related to regulatory compliance, down. The regulatory compliance aspect is critical, CEIS notes.
Financial crimes riskmanagement software company Quantifind and Oracle Financial Services have teamed up to improve anti-money laundering (AML) compliance and to add intelligence and automation properties directly into the compliance workflows, according to a release.
Many communities of people with disabilities are very close-knit and if your site is recognized as accessible, this ends up being a competitive advantage. It helps in other crucial areas of your organization, such as search engine optimization (SEO) and legal riskmanagement. Accessibility Belongs in the Design Phase.
How can community financial institutions thrive in 2021? Community banks provide unique and important banking services for their customers, but they also face significant obstacles. Takeaway 1 Community banks play an important role in the economy and their communities, but they face significant obstacles.
Share these reports on AML activities to inform directors Reporting to the board on AML and fraud compliance is an essential obligation. You might also be interested in this AML/CFT risk assessment checklist. Why regular reports matter Board reporting on AML compliance activities BSA Officers have a lot of responsibilities.
Wells Fargo, weeks after it was hit with a rare enforcement action from the Federal Reserve, is overhauling its riskmanagement processes and announced internally that four top riskmanagement executives would be retiring. All are retiring in April, May or June. However, the FI can still lend and take deposits.
Navigating credit quality, compliance, and technology integration The ThinkBIG conference hosted by Abrigo fosters networking and professional development for bankers. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for riskmanagement and compliance."
For most consumers who have a checking account, savings account and maybe a mortgage, the regulations placed on their community bank isn’t given a second thought. Two recent surveys addressing the community banking landscape have pointed to increasing regulations as the primary cause of stress for these institutions.
As one of the country's generation of young bank CEOs, and one whose professional background is in riskmanagement and regulatory compliance, Clayton Legear shares his unique outlook in the latest episode of the ABA Banking Journal Podcast.
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. Takeaway 2 The top lending and credit blog posts focused on the benefits of banking technology, interest rate management, and developing risk ratings.
These DFS500 amendments signal a crucial shift in the regulatory landscape, emphasizing the imperative for robust governance, riskmanagement, and compliance frameworks across the financial industry. Impacted institutions are subject to significant fines relative to the level of non-compliance identified by the regulators.
The NYSDFS Part 500 amendments signal a crucial shift in the financial services regulatory landscape and underscore the importance of robust governance, riskmanagement, and compliance frameworks. Impacted institutions are subject to significant fines relative to the level of non-compliance identified by the regulators.
According to CB Insight , community bankers felt Q3 was a light one in terms of regulatory compliance. However, the Q3 2014 Banking Compliance Index (BCI), shows otherwise. For most community banks, this is difficult to address, especially if regulatory changes continue to increase. Very few universities in the U.S.
Anticipating what’s new for your community bank’s next field examination. This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. Be aware of existing or emerging risk concerns. By Karen Hoffman.
ADEC Innovations, a global sustainable practice and compliance firm, is partnering with London-based Libryo , a legal tech software as a service (SaaS) company, to help brands understand compliance requirements, ADEC said in a press release on Tuesday (Aug. The software will track chemical use and managecompliance.
Thankfully for bank and credit union executives, lenders, riskmanagers, and Bank Secrecy Act (BSA) Officers, banking podcasts and podcasts for credit unions are plentiful, and options are growing. Other podcasts might be internationally based and of little interest to community financial institutions or credit unions based in the U.S.
Independent Banker ’s annual Community Bank CEO Outlook survey reveals how community bank leaders plan to leverage today’s deposit-laden banking environment to grow this year. Janet Silveria, Community Bank of Santa Maria. So, what’s at the top of community bank leaders’ to-do lists? What changes will 2022 bring?
And yet, sometimes community banks, opt to stick to their lending knitting, forfeiting the potential to earn non-interest revenue and cementing their ties with both individual and corporate customers. The community banking model is based on customer relationships and the allocation of capital and extending loans.
Takeaway 3 Updates on interest rate forecasting and best practices for managing CRE risk were among the most-read blogs. Abrigo's most popular riskmanagement blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators. Which credit areas need routine "maintenance"?
In a survey of community banks and credit unions at the 2016 Sageworks RiskManagement Summit, 42 percent of respondents said Commercial Real Estate, or CRE, lending was their primary focus for loan portfolio growth. Learn more about the Sageworks Credit RiskManagement Solution.
6 Steps t o mitigate fraud risk tied to new products Your AML and fraud teams' input is key when it comes to offering new bank products. These tips can help ensure compliance while improving your offerings. This step sets the foundation for effectiv e riskmanagement by understanding the unique challenges associated with the product.
Manage the impact of interest rate cuts at your institution These five tips from Abrigo expert Dave Koch will help banks and credit unions prepare for a rate drop. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for effective riskmanagement and compliance."
Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech in banking and finance. What is regtech?
Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech for banks to enhance their processes. What is regtech?
What an opportunity for a non-audit, non-compliance, non-IT, and non-credit blogger to write about it! As community FIs, regulators force us to throw enough money down a black hole without us volunteering to do so. But managingrisk across organizational silos is highly fragmented in FIs. It''s not worth the money.
Amid the global coronavirus pandemic—and a massive response by policymakers—how can community banks best meet customer and employee needs while managing their balance sheets and loan portfolios? The post Podcast: A Community Bank Coronavirus Playbook appeared first on ABA Banking Journal.
Directors overseeing a bank’s operations are important partners in supervisory efforts, the FDIC noted in the article (“A Community Bank Director’s Guide to Corporate Governance: 21st Century Reflections on the FDIC Pocket Guide for Directors.”). Riskmanagement culture What exactly is a riskmanagement culture?
In the paper, the OCC defined responsible innovation as: The use of new or improved financial products, services, and processes to meet the evolving needs of consumers, businesses, and communities in a manner that is consistent with sound riskmanagement and is aligned with the bank’s overall business strategy.
Community banks must continue to stay focused on regulatory discussions and remain nimble to respond to proposals and address requirements quickly and accurately. The FDIC issued guidance about the consumer compliancerisks associated with assessing NSF arising from the re-presentment of the same unpaid transaction. Quick Stat.
ProfitStars , the Jack Henry & Associates division that provides riskmanagement solutions for financial institutions, announced its latest fraud tool on Wednesday (Sept. “Our iPay ESM solution delivers sophisticated fraud analytics, eases compliance and provides powerful reporting capabilities to financial institutions.
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