Abrigo

JUNE 5, 2023

Banking reports to inform risk management and strategy These reports on capital, growth, and liquidity help financial institutions spot warning signs. They help manage and shape strategy in volatile economic and industry conditions.

Report 195

Report Risk Management Capital Data 195

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. One recent example of a response to the proliferation was the inclusion of a long-fought anti-money laundering (AML) provision within the recently passed defense spending bill in the U.S. “So Complex Compliance.

Fraud 270

Fraud Compliance cryptocurrency Security 270

PYMNTS

JUNE 5, 2020

Financial Institutions (FIs) that adopt open banking allow third parties like FinTechs to integrate with their application programming interfaces (APIs) to provide personalized financial management and payment apps that draw on bank customers’ data. The federal entity is charged with monitoring the U.S.

Security 174

Security Fintech Data Fraud 174

Insights on Business

JULY 30, 2019

An example is the IBM Workspace Analyzer for the Enterprise solution. Organizations that wait to adapt to these capabilities however may find themselves lagging in competitive capabilities and regulatory compliance. Explore these ideas in more depth in the IBM white paper A new era of technology-enabled financial risk management.

Risk Management 70

Risk Management Analytics Technology Management 70

Insights on Business

FEBRUARY 27, 2018

A common assumption in risk and compliance is that financial institutions typically have to spend more to meet their regulatory obligations. They demonstrated their new approach to achieving compliance through technology at IBM RegTech Europe in London. “Meaning, [regtech] is a teammate.

Compliance 98

Compliance Risk Management Management Regulation 98

South State Correspondent

JUNE 20, 2024

In addition to assembling the team, the product manager needs to take responsibility for the continued training around the problems, the environment, and related solutions. A great example is how the new Section 1071 rule that requires data collection and management impacts every small business credit product a bank has.

Management 195

Management Training Strategy Compliance 195

PYMNTS

APRIL 18, 2017

Banks and financial institutions spend billions of dollars to ensure they are meeting compliance requirements and properly managing risks. It’s satisfying key regulatory requirements, but at the end of the day it’s not providing the insight around managing your risks that it should.”.

Compliance 111

Compliance Data Austin Management 111

Perficient

MARCH 3, 2021

Taking a cloud or multicloud approach has many benefits like reducing vendor lock-in, greater agility, scalability, network performance improvement, improved risk management, and more. But a multicloud environment can create silos and expose a need to manage all that data. For example: Cloud adoption. API management.

Data 309

Data Exercises Management Risk Management 309

Abrigo

MAY 10, 2021

While a financial institution often primarily focuses on securing software to originate business loans, a commercial LOS provides scalability when it offers integrated solutions on one platform to manage all stages of the life of the loan. Lending & Credit Risk. The LOS can also automatically generate annual loan reviews.

System 195

System Lending Analysis Software 195

Abrigo

JULY 25, 2023

How offering FedNow instant payments affects fraud & AML/CFT compliance What financial crime staff can do to prepare fraud and AML functions for implementing the FedNow Service for instant payments. Would you like other articles on fraud and AML/CFT compliance in your inbox? How the institution wants to use FedNow.

Fraud 195

Fraud Payments Security Resources 195

CFPB Monitor

MARCH 9, 2020

On March 5, 2020, the OCC issued a revised set of FAQs designed to supplement OCC Bulletin 2013-29 (Third-Party Relationships: Risk Management Guidance) issued on October 30, 2013. The OCC appears to place risk management responsibilities upon banks for such activities conducted by third-party data aggregators.

Risk Management 78

Risk Management Data Management Compliance 78

PYMNTS

DECEMBER 9, 2020

Developing a quick, seamless and secure onboarding process for financial institutions (FIs), lending startups and other financial services providers has long posed its trials. V-CIP’s biggest advantage is the elimination of risks associated with secure transmission and storage of documents.

Video 175

Video Capital Lending Security 175

Abrigo

AUGUST 8, 2021

Being able to change course allows financial institutions to avoid issues – for example, by moving away from loans with a certain type of risk (whether that’s interest, credit, or liquidity). An effective credit risk review system assesses “the adequacy of and adherence to internal credit policies and loan administration procedures.”

System 195

System Lending Policies Regulation 195

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. The increase is not only due to the projected rise in problem banks but also in response to three significant bank failures in 2023.

FDIC 195

FDIC Regulation Strategy Data 195

CFPB Monitor

AUGUST 31, 2021

The Guide discusses a series of topics to be considered by a community bank when conducting due diligence on a fintech company and provides potential sources of information and illustrative examples for each topic. Legal and regulatory compliance. Risk management policies, processes, and controls.

Community Bank 78

Community Bank Community Fintech Company 78

PYMNTS

JULY 19, 2018

The need is there for a comprehensive approach for risk management, which in turn means that both FinTechs and FIs need a strong, consistent strategy and roadmap from the very start of collaborations. Thus, risk management must evaluate compatibility not just of tech platforms in place, but must also take a cue from strategic goals.

Fintech 107

Fintech Risk Management Big Data Management 107

Independent Banker

OCTOBER 1, 2022

For example, some might exclude the payment in a ransomware attack. Steps such as multi-factor authentication have proven to be highly effective and are viewed as minimum security features for banks seeking cyber insurance. System configuration: Securely configure systems and services. Not every policy is going to be the same.

Montana 152

Montana Policies Resources FDIC 152

PYMNTS

OCTOBER 30, 2019

Where the rubber hits the road — in terms of executing those ideas — is when the plans to switch to an instant payments paradigm are taken to those enforcing compliance and risk, she said, and when firms start taking a real look at how they can get instant payments up and running as an option safely and securely. .

Payments 104

Payments Risk Management Security Fraud 104

Abrigo

FEBRUARY 25, 2022

Codified risk-based approach The AMLA codified the risk-based approach for the first time, and a thorough risk assessment is necessary to justify businesses to your regulators. ?As House of Representatives advanced the Secure and Fair Enforcement (SAFE) Banking Act to the Senate for the sixth time. This month, the U.S.

Regulation 195

Regulation Policies Compliance Washington 195

Abrigo

SEPTEMBER 22, 2021

PCD Disclosures Some disclosures are the same, but disclosures tied to PCD accounting and AFS debt securities are changing under CECL. For example, a financial institution might include a comment in its disclosures that says, in effect, “We might be considering unemployment” as an economic factor. Learn more. Learn more. Learn more.

Security 195

Security Examples National Report 195

Abrigo

MAY 8, 2024

Seeing generative AI use cases can help bankers, risk managers, and financial crime professionals better understand it. They can more easily consider how to harness genAI's power to enhance their operations, compliance, risk management, and member or customer experience.

Examples 222

Examples Fraud Resources Risk Management 222

PYMNTS

SEPTEMBER 13, 2018

As FinTechs step into the cross-border payments and foreign exchange (FX) management space, there are more solutions available than ever before for corporates seeking to gain speed and security in payments – and manage risk along the way.

Payments 100

Payments Risk Management blockchain Management 100

Cisco

OCTOBER 4, 2022

In June 2021, following large cyber attacks on the United States and the resulting Executive order on Cyber security, the FFIEC released the largest update in guidance in over a decade to help financial auditors assess financial institutions. Common AIO Risk Management Topics. Data governance and data management.

Operations 118

Operations Software Risk Management Management 118

PYMNTS

FEBRUARY 28, 2020

Credit unions possess vast troves of personal information such as credit card data and Social Security numbers that could devastate members if leaked. At least two local CUs — First Choice Federal Credit Union and Inspired Federal Credit Union — even filed class-action lawsuits against Wawa for not adhering to best security practices.

Data 131

Data California Security Pennsylvania 131

Abrigo

DECEMBER 5, 2016

Demand for effective cyber risk management is so strong that the AICPA is developing common criteria for CPAs to use as they help clients evaluate their programs and efforts. I know a lot of people do not take security awareness seriously, but for Sageworks, the No. Develop a security awareness program.

Cyber Security 150

Cyber Security Security Software Meeting 150

Independent Banker

OCTOBER 14, 2014

In fact, the FFIEC even released guidance in December 2013 on social media, entitled “Social Media: Consumer Compliance Risk Management Guidance.” These are examples of great tweets/retweets from this year by customers or employees of banks. It is no wonder banks are joining in. Following the tweets. Free ice cream alert!

social media 88

social media Risk Management Compliance Community Bank 88

PYMNTS

AUGUST 10, 2017

From user interface technology to security and risk management, the only constant in the financial space is that nothing stays the same for long. For example, we were the first in the Middle East region in 2006 to close the loop by sending back a text alert to the remitter that the beneficiary had collected the money.

How To 136

How To Risk Management Technology US 136

Insights on Business

JUNE 18, 2018

Some important financial technologies are changing the way the world is doing business and that change is now reaching the securities industry. Judith Pinto , Managing Director, Promontory Financial Group will host the Transform Your Risk and Compliance Programs with Cognitive Solutions and RegTech session.

Conference 70

Conference Fintech blockchain Compliance 70

PYMNTS

SEPTEMBER 26, 2019

The future, and what Brighterion has focused its development on, Jha said, is building and leveraging AI solutions that can respond dynamically to risk factors as they unfold, without necessarily inserting a host of additional stumble steps that slow down the customer’s front-end security.

Fraud 158

Fraud System Tools Data 158

FICO

SEPTEMBER 18, 2020

For the second year running, FICO has been named as category leader in the recently published Chartis ‘Cyber Risk Quantification Solutions 2020: Market Update and Vendor Landscape’ report. As the report shows, the market for Cyber Risk Quantification Solutions (CRQ) continues to show rapid growth.

Cyber Security 52

Cyber Security Risk Management Analytics Data 52

PYMNTS

OCTOBER 10, 2018

But just as it was a disruptive force when it emerged in the mid-19th century, today the wire has secured a bit of attention as players like SWIFT move to promote faster, more efficient cross-border transfers. The wire transfer, made popular by Western Union more than 150 years ago, may not seem to be the most innovative rail.

Fraud 116

Fraud Compliance Innovation Payments 116

PYMNTS

MARCH 29, 2019

However, they do not have the bandwidth, or maybe even the desire, to hire and maintain a compliance department in-house, nor do they relish the idea of keeping gigabytes of sensitive information on their servers. All manner of data must be verified, ranging from valid licenses and insurance to criminal histories and bank accounts.

Handbook 171

Handbook Compliance Online Data 171

Jack Henry

JULY 2, 2014

The stakes of this game are rising, however, because of increased sophistication of cyber-attacks, regulatory scrutiny around how banks are managing IT environments, and the growing number of governing entities with their fingers in the compliance pie.

Cyber Security 102

Cyber Security Compliance Security FDIC 102

Independent Banker

SEPTEMBER 25, 2014

Saving money by conducting inside risk management and compliance reviews. As a group, community banks spend substantial funds hiring outside consultants to help with various management functions, and a substantial share of dollars are spent to help oversee their risk management and compliance activities.

Community Bank 70

Community Bank Compliance Risk Management Community 70

PYMNTS

JUNE 10, 2016

. “What we’re seeing is that [FIs] are putting in place a more rigorous process to make sure suppliers that are onboarded also have very strict and rigorous risk management protocols in place,” Cotter said. Whereas, for a lot of FIs, risk management has definitely become a board-level issue.”

Management 100

Management Risk Management Software Analytics 100

Abrigo

AUGUST 22, 2022

You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." Mobile depositing of checks, for example, has actually made check fraud easier. Eventually, the employee sends back secure financial information, allowing the criminal to forge a business check or process a wire transfer.

Fraud 195

Fraud Trends Survey Technology 195

FICO

DECEMBER 23, 2020

We predict that regulators will continue to emphasize financial crimes compliance by looking to close the gaps in existing frameworks and regulations. So will high-risk products/services such as correspondent banking and trade finance transactions. A number of proposed bills are also with law makers on Capitol Hill.”.

Compliance 52

Compliance Regulation Data Risk Management 52