Perficient

DECEMBER 18, 2023

In the fast-paced realm of finance, the significance of regulatory risk and compliance management practices cannot be overstated. This blog post delves into the pivotal role these practices play in ensuring the stability and success of financial institutions and banks. By adopting a proactive stance and leveraging technological advancements, financial entities can navigate the regulatory landscape with greater resilience and efficacy.

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Regulation Compliance Exercises Guidelines 473

Accenture

DECEMBER 20, 2023

With 2023 in the rearview mirror, we can look back on the year with 20/20 clarity. This year saw banks confronting multiple risks, some foreseeable and others less so. If the year has taught us anything, it’s that banks can do more to guard against the risk they can predict, and risk they may not… The post Five steps to banking cyber resilience appeared first on Accenture Banking Blog.

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US Cyber Security Management Security 195

The Financial Brand

DECEMBER 18, 2023

This article How One Community Bank Drove $135 Million in Deposits in 90 Days appeared first on The Financial Brand. A new software platform promised to streamline account opening. But upskilled team members are what made it work. This article How One Community Bank Drove $135 Million in Deposits in 90 Days appeared first on The Financial Brand.

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Community Bank Community Branding Software 17

The Financial Brand

DECEMBER 18, 2023

This article Trends 2024: How Fintechs are Balancing Growth with Compliance Risk appeared first on The Financial Brand. Almost two-thirds of fintechs paid more than $250,000 in compliance penalties in 2023. Are fines increasingly the cost of growth? This article Trends 2024: How Fintechs are Balancing Growth with Compliance Risk appeared first on The Financial Brand.

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Compliance Trends Fintech Branding 33

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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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American Banker

DECEMBER 18, 2023

The top five community banks averaged a return on average assets of 7.14% as of June 30, 2023.

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Community Bank Community 36

The Financial Brand

DECEMBER 18, 2023

This article The Future of Retail Banking: A Look Into the Crystal Ball appeared first on The Financial Brand. Trends emerge for banks to reinvent customer lifetime value, personalization, digital platform thinking and reimagined experiences. This article The Future of Retail Banking: A Look Into the Crystal Ball appeared first on The Financial Brand.

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Retail Trends Branding Banking Trends 42

American Banker

DECEMBER 19, 2023

Allegations of lending discrimination against Navy Federal Credit Union, while as yet unproven, suggest that the rationale for giving credit unions substantial advantages over banks needs to be rethought.

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Lending Compliance Regulation 75

American Banker

DECEMBER 20, 2023

Meritrust Credit Union in Wichita is giving $400 to each of its 370 employees to start or grow a rainy day fund.

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Wichita Kansas 87

Payments Dive

DECEMBER 22, 2023

The Electronic Payments Coalition is “fully funded” for the continuing fight over the proposed Credit Card Competition Act next year, said the organization’s executive chairman.

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Cards Payments 433

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Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

Community Bank

Perficient

DECEMBER 19, 2023

In today’s competitive landscape, prioritizing customer experience is essential for success, making it crucial for organizations to choose the right professional services partner to help them deliver exceptional experiences that meet customer expectations. This strategic partnership not only requires a firm with technical design expertise but also one that has an understanding of the evolving forces shaping the future of customer experience.

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Report Customer Experience Innovation Strategy 251

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. You might also like this resource, Abrigo's "2022 Loan Review Benchmark Survey Results." 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.

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Lending Risk Management Community Management 221

CFPB Monitor

DECEMBER 20, 2023

Colorado and New York are not waiting for the Fair Credit Reporting Act rulemaking to eliminate creditor use of medical debt announced by the CFPB in September 2023. As we previously blogged , in the past two years, Equifax, Experian, and TransUnion have made significant changes with respect to medical debt collections by removing unpaid medical collections under $500 from consumer credit reports, removing paid medical collections from credit reports, and extending the time period before unpaid

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Colorado Report New York Regulation 148

Payments Dive

DECEMBER 20, 2023

This primer fills in the gaps on how digital wallets work, what companies compete to provide such payment tools and what to expect from them in the future.

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Tools Payments Company 464

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Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

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Perficient

DECEMBER 22, 2023

This blog was co-authored by: Ashley Simmons In conversations with financial services executives, Perficient consultants consistently delve into the application and usage of artificial intelligence (AI) within the industry. A pivotal aspect of this conversation revolves around the regulatory perspective toward AI. To help shed light on this matter, Perficient’s Financial Services Risk and Regulatory Center of Excellence (CoE) researched the topic extensively and discovered that the Office of th

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Risk Management Compliance Fraud Operations 221

Abrigo

DECEMBER 22, 2023

The most-read portfolio risk 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. You might also like this webinar, "Unraveling risk rating: Making sense of your best early warning tool." Watch NOW Takeaway 1 Portfolio risk and accounting professionals often keep up to date on industry trends by reading Abrigo's blog.

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Risk Management Regulation Management Lending 221

CFPB Monitor

DECEMBER 20, 2023

On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule , otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor vehicle dealers. The final rule, which is effective on July 30, 2024, prohibits certain misrepresentations in the financing process, sets disclosure requirements on dealers’ advertising and sales communications, mandates that dealers obtain consumers’ express, informed cons

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Retail 146

Payments Dive

DECEMBER 19, 2023

Beating back fraud can feel “a bit like a vicious circle,” as the industry improves its capabilities and fraudsters pivot, said Tina Eide, an executive vice president focused on fraud at the card issuer.

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Fraud Trends Cards Industry 431

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Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

Cards

Perficient

DECEMBER 21, 2023

Earlier this year, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Fed), and the Federal Deposit Insurance Corporation (FDIC) unveiled a proposed rule that would reshape the landscape for certain financial institutions. In this article, we delve into the latest developments around the extended comment period, providing stakeholders an increased opportunity to share their insights.

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DC FDIC Washington Compliance 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. You might also like this infographic on the true costs of fraud at financial institutions. Download now Takeaway 1 AML/CFT and fraud professionals often keep up to date on industry trends by reading Abrigo's blog.

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Fraud Training Compliance Trends 221

CFPB Monitor

DECEMBER 19, 2023

Bills have been introduced in the U.S. House of Representatives ( H.R. 4198 ) and the U.S. Senate ( S. 3502 ) to amend the Fair Credit Reporting Act (FCRA) to curtail the practice of trigger leads with mortgage loans. The practice is controversial for both consumers and mortgage industry participants.

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Report Industry 144

Payments Dive

DECEMBER 21, 2023

Google’s settlement with attorneys general this week includes a lengthy list of changes the tech titan must make in its approach to in-app payments.

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Payments Google 448

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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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Perficient

DECEMBER 19, 2023

In the dynamic realm of investment management, maintaining a competitive edge is paramount. Our client, a dynamic, independent investment management and strategic advisory firm, recognized the rising significance of Environmental, Social, and Governance (ESG) metrics in shaping investment decisions and reporting. ESG became a cornerstone in our client’s investor relations strategy.

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Report Analysis Data Meeting 221

Abrigo

DECEMBER 18, 2023

Stress testing, monitoring are essential Financial institutions should challenge assumptions about CRE risk while also watching for red flags as they manage the CRE portfolio. You might also like this webinar on credit department housekeeping. WATCH Takeaway 1 Banks and credit unions are critical sources of capital for businesses in their communities, so how institutions assess CRE credits matters.

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Risk Management Management Lending Capital 221

BankUnderground

DECEMBER 21, 2023

Rebecca Freeman As another year draws to an end and the blog prepares for some downtime over the festive period, we wanted to take a look back at the blog in 2023. In case you missed any of our posts the first time round, the five most viewed posts for the year were: How house prices respond to interest rates depends on where they are in the country Why lower house prices could lead to higher mortgage rates Bomadland: How the Bank of Mum and Dad helps kids buy homes ‘There is all the difference

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Management Marketing Policies 133

Payments Dive

DECEMBER 20, 2023

The Minneapolis-based lender flagged a CFPB probe into prepaid card use last year. The OCC added a separate penalty Tuesday.

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Minneapolis Cards 397

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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se

Community Bank