FICO Blog

JANUARY 18, 2023

Top 5 Debt Collection Posts of 2022: Crisis and Opportunity. As more people enter the collections queue due to rising costs and economic wobbles, our collections experts share their tips for early collections, digital approaches and more. Here are the top five posts from 2022 on debt collection trends.

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Debt Collections Credit and Collections Collector Transactions 52

Chaser

JANUARY 9, 2024

Late payments are a widespread challenge in the business world, affecting 87% of businesses globally (Chaser, 2022). billion in collected payments in 2023 - the landscape of credit management is evolving. billion in collected payments in 2023 - the landscape of credit management is evolving.

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Credit and Collections Credit Management 64

SAP Credit Management

JANUARY 30, 2023

– SAP TechEd 2022 provided you the newest updates on SAP Integration Suite. In this blog post, I will give you an overview about: Newest Innovations of SAP Integration Suite Recordings for SAP Integration Suite at SAP TechEd 2022 Q&As for SAP Integration Suite at SAP TechEd 2022 1. fine granular access policies, etc.

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SAP Credit Management

FEBRUARY 10, 2023

In this blog post, you can find the latest collection of new capabilities in SAP S/4HANA Cloud, public edition, and SAP S/4HANA Cloud, private edition, in the area of Environment, Health, and Safety (EHS). Thanks for reading this blog post. Stay tuned!

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Lendio

DECEMBER 2, 2022

A number of experts are predicting more consumer spending for holiday 2022 and Deloitte’s State of the US consumer: September 2022 found that consumers are both spending more money and expressing less concern over day-to-day expenses. A business credit card or business line of credit are great assets to have in your cash flow toolbox.

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Abrigo

DECEMBER 23, 2022

Blog posts to help your asset/liability management (ALM) staff strategize for the future These ALM posts were the most popular in 2022. Navigating a rising-rate environment, leveraging core deposit strategies, and pricing loans effectively were top of mind for asset/liability management (ALM) staff in 2022. For rookies and experts.

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CECL Credit Unions Credit and Collections Credit Risk 78

SAP Credit Management

FEBRUARY 1, 2023

Hello Community, You have would read comprehensive blog and videos showcased by ENKHZUL SUKHBAYAR and John Luu on the 2022 Top 5 product updates from SAP Build Process Automation. Microsoft 365 Microsoft 365 Cloud SDK package is a collection of activities allowing you to create automation on Office objects in Microsoft Cloud.

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FICO Blog

FEBRUARY 21, 2023

Another full year is in the books As 2022 came to a close, the economic environment in the United States is teetering on the edge of a recession. Inflation is easing as funding rates have risen to 15-year highs, but the technology sector is beginning to lay off employees in masses – through 2022 low levels of unemployment kept the U.S.

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Credit and Collections Credit Card Companies Credit Risk 52

FICO Blog

FEBRUARY 21, 2023

Home Blog FICO Canada Bankcard Industry Benchmarking Trends: Q4 2022 Update Ready for a recession? To curb inflation, Bank of Canada embarked on a series of interest rate hikes in 2022, and most recently in January 2023, bringing the overnight rate to 4.5% The utilization rate on credit cards was suppressed in 2020 and 2021.

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Credit Card Payments Credit and Collections Transactions 52

Abrigo

APRIL 22, 2024

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S. trillion between 2019 and 2022.

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Credit Unions Small Businesses Credit and Collections Credit Risk 97

SAP Credit Management

JANUARY 25, 2023

The system then collects all dependent InfoObjects automatically and shows a list of all artefacts which will be created and deployed in Data Builder and Business Builder during import. or higher via Shell or Remote Conversion.

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Abrigo

FEBRUARY 25, 2022

What to watch for in 2022 Expect these eight BSA /AML regulatory topics to see changes in 2022 and start preparing now to help your institution s tay up to date. Eight topics that could see change in 2022. You might also like this webinar on BSA/AML regulatory hot topics. What to Watch.

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Credit Unions Credit and Collections Cybersecurity 78

Chaser

OCTOBER 10, 2023

By 2022, Chaser's late payment report revealed that this number had jumped to 87%, affecting nearly 9 in 10 businesses. In light of the ongoing problem, Chaser set an ambitious target, to get $5 billion USD collected for businesses in 2023 to help combat the issue of late payments.

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Credit and Collections 69

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."

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Credit Risk Credit Unions Dashboards CECL 88

FICO Blog

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 4 (2022). Building portfolio risk resilience into Collections & Recovery. Fri, 06/03/2022 - 12:24. Thu, 12/08/2022 - 16:00. Early-stage collections strategies offer a wide range of choices around contact channel as well as timing, tone, and intensity (i.e.,

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Credit and Collections Debt Collections Default Credit Risk 52

FICO Blog

FEBRUARY 7, 2023

Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. BNPL in Credit Reports: How Could This Data Impact FICO Scores?

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Credit Scoring Debt Collections Credit and Collections Medical Billing 52

SAP Credit Management

JANUARY 8, 2023

The CVI Cockpit collects all important activities per phase. You should collect usage data for a longer period of time (at least one year) to get really reliable results for not productively used code. Release information note for product version SAP Fiori for SAP S/4HANA 2022 can be found on SAP Note 3226678. Run CVI Cockpit.

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Abrigo

MAY 22, 2024

Recent stats and dynamics of the small business lending market Understanding the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S. trillion between 2019 and 2022.

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Credit Unions Small Businesses Credit and Collections Credit Risk 78

MNS Credit Management Group

MAY 28, 2022

The Debt collections business is primed for even greater transformation in 2022, which should come as no surprise. Keep track of these items if you’re a developing collecting company to strengthen your operations, increase productivity, and improve client satisfaction. What is the Operating system for Debt Collection?

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Debt Collections Collector Credit and Collections Bad Debt 52

FICO Blog

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 3 (2022). Thu, 05/12/2022 - 07:46. Thu, 12/08/2022 - 16:00. Impressively, the Federal Reserve reported Q1 2022 delinquency rates on all consumer loans of 1.63% , one of the lowest marks in the 35+ years it has been tracked. Saxon Shirley. by Jim Patterson.

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Default Credit and Collections Credit Risk Transactions 52

FICO Blog

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 1 (2022). This four-part series looks at embedding portfolio risk resilience into decisions across the credit lifecycle through targeted application of the FICO ® Resilience Index. Thu, 12/08/2022 - 16:00. Enhanced portfolio credit risk management loss forecasting accuracy.

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CECL Credit and Collections Credit Risk Default 52

FICO Blog

JANUARY 3, 2023

Agile Collections Strategies Can Protect Loyalty in Tough Times. As economic victims swell the collections queue, do you have the tools you need to differentiate them and apply the correct treatments to different cohorts? Wed, 12/28/2022 - 10:15. Intuitive And Smart Collections Strategies to Offer Customer Safeguards.

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Debt Collections Credit and Collections Default 52

CreditStrong for Business

SEPTEMBER 4, 2024

Fixing your credit might seem complicated, but it’s actually a simple process. Not to mention, working with a credit repair company can be expensive. Don’t drop hundreds of dollars on credit repair if you don’t have to. Recent credit score statistics show that 54% of people never check their credit.

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Credit Scoring Credit and Collections Credit Reporting Agencies Credit Application 52

CreditStrong for Business

AUGUST 30, 2024

Solid revenues, profitability, good credit scores, and length of time in business are all driving forces behind what minimizes the credit risk for a lender. According to the Federal Reserve’s 2022 Small Business Credit Survey the businesses that are most likely to get financing are in the manufacturing industry.

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Credit Scoring Credit and Collections Insurance Companies Credit Risk 52

Due

APRIL 24, 2023

The versatility of credit cards in terms of acceptance and rewards makes them a preferred payment method for millions. After all, credit cards were introduced to ease up your payments and, thereby, your lifestyle, right? However, nobody wants to be an unfortunate victim of a credit card scam. billion through fraud.

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Your Virtual Credit Manager

JANUARY 31, 2023

Some of the reasons for paying slow are more serious than others, but they all impact your cash flow and your collection efforts. There are several keys to effective past due collections and they start with your order-to-cash process. Do that and you eliminate a lot of potential collection issues.

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Credit and Collections Past Due Invoices Bankruptcy Order to Cash 246

Your Virtual Credit Manager

APRIL 9, 2024

In such a time of easy money, receivables management becomes less critical and credit policies tend toward laxity. Now that interest rates are higher, it is time for companies to reset their credit policies in order to adjust to the current interest rate environment. Where Are Interest Rates Headed?

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Credit and Collections Accounts Receivable (AR) Credit Card Payments Default 130

Your Virtual Credit Manager

JANUARY 3, 2023

Over time, AR Ledgers unfortunately tend to collect “Clutter.” Clutter can also cause new orders to be placed on a credit hold when it otherwise would have been automatically released. Share How to Clean Up Your AR Ledger Launch a collection program to collect all past due invoices at least 15 days late.

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FICO Blog

JANUARY 11, 2023

Top 5 Decision Management Posts of 2022: AI and Digital Jane. Wed, 05/25/2022 - 03:43. The promise of AI and FICO Platform dominated the top posts of 2022 in the Decision Management category. The promise of AI and FICO Platform dominated the top posts of 2022 in the Decision Management category. Saxon Shirley.

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Credit and Collections Default Credit Risk Transactions 52

lsq

OCTOBER 25, 2022

25, 2022) – Heading into the fourth quarter of 2022, LSQ , a leading provider of working capital management and finance solutions, is riding a wave of momentum and growth from a record first nine months of the year. ORLANDO, Fla. Diversity, Equity, and Inclusion Partnerships. Customer and Network Growth.

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Credit and Collections DSO Credit Management Transactions 52

Emagia

MARCH 15, 2024

Managing credit risk for B2B customers is critical for seamless order to cash (OTC) and working capital cycles. Businesses that follow traditional reactive strategies in OTC processes may find it difficult to collect at-risk future invoices, likely leading to large invoices going delinquent.

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Credit Risk Default Credit Management Credit and Collections 52

Emagia

MARCH 15, 2024

Managing credit risk for B2B customers is critical for seamless order to cash (OTC) and working capital cycles. Businesses that follow traditional reactive strategies in OTC processes may find it difficult to collect at-risk future invoices, likely leading to large invoices going delinquent.

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Credit Risk Default Credit Management Credit and Collections 52

Abrigo

APRIL 12, 2023

Building a strong credit review process A critical element of monitoring is an organization’s credit risk rating system. This blog will examine credit review in more detail. You might also like this whitepaper: "2022 Loan Review Benchmark Survey Results."

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Credit Risk Credit and Collections CECL 78

FICO Blog

DECEMBER 13, 2022

Digital Collections: 7 Things That Can Make You More Successful. Digital collections isn't a new concept, but it has taken on additional relevance in the current economic environment. Tue, 12/13/2022 - 10:40. This story of digital collections starts with Steve Jobs. Here are some tips for success. FICO Admin.

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Debt Collections Credit and Collections 52

Abrigo

MARCH 31, 2023

NCUA expectations for credit unions post-CECL adoption The NCUA's focus on risk, especially credit risk, has implications for credit unions instituting CECL this quarter. Takeaway 2 Credit unions may still have questions about regulatory expectations for CECL after adopting the new standard.

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Credit Unions CECL Credit Risk Credit and Collections 78

FICO Blog

JANUARY 24, 2023

FICO’s latest market report of UK card trends suggests that consumers managed their credit card debt to keep lines of credit open for the festive season as spend increased month on month. percent higher than October 2022 at £755 The percentage of consumer payments to balance dropped by 2.8 percent Year-on-year there were 14.8

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Credit and Collections 52

Abrigo

MAY 30, 2023

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. Takeaway 3 The earliest deadline requires financial institutions to begin collecting data Oct.

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