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AI Regulations for Financial Services: CFPB

Perficient

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.

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Generative AI in credit risk management: A game changer for loan review

Abrigo

As financial institutions deal with growing portfolios, evolving regulations, and a shifting workforce, maintaining consistency in credit risk assessment is more difficult than ever. Data security is also a major concern. Addressing bankers worries about utilizing AI-powered tools, Kirby reassures, Yes, its secure.

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7 Steps to Define a Data Governance Structure for a Mid-Sized Bank (Without Losing Your Mind)

Perficient

Establish a single source of truth Create a glossary that doesn’t read like a legal document Accept that these definitions will change more often than a teenager’s social media profile It’s not perfect, but it’s governance, not a philosophical treatise on the nature of reality. So very, very wrong.

Data 221
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Data Governance in Banking and Financial Services – Importance, Tools and the Future.

Perficient

Lets talk about data governance in banking and financial services, one area I have loved working in and in various areas of it … where data isn’t just data, numbers aren’t just numbers … They’re sacred artifacts that need to be protected, documented, and, of course, regulated within an inch of their lives.

Tools 221
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Regulators Line Up For Trade Finance Modernization

PYMNTS

Today, some documents are still sent the old-fashioned way," explained Tsafrir Attar , vice president of Digitization at Surecomp. Sometimes, they're still sending documents using snail mail.". Trade finance players, including corporates, banks and regulators, are finally ready to embrace modernization and technology.

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Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Perficient

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Applications include analysis of regulations, news flow, earnings reports, consumer complaints, analyst ratings changes, and legal documents. Cybersecurity.

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Cannabis lending for financial institutions: Opportunities, risks, and best practices

Abrigo

Federal regulations under the Controlled Substances Act (CSA) still classify marijuana as a Schedule I substance, along with heroin and methamphetamine. CRBs frequently face difficulties securing loans or even maintaining a bank account, leaving them to manage their cash businesses outside of traditional financial institutions.

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