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. FICO Admin. Tue, 02/18/2020 - 14:57. by David Binder.

CECL 52

CECL Credit and Collections Credit Risk Default 52

Abrigo

MARCH 17, 2022

The Stress Test Scenarios for Big Banks Are Useful for Smaller Institutions' Own Tests Banking regulators recently released the 2022 scenarios for upcoming stress tests by the biggest banks. But small banks and credit unions can benefit from the stress test scenarios, too. What's in the 2022 stress test scenarios.

Credit Unions 78

Credit Unions CECL Credit Risk 78

FICO Blog

APRIL 28, 2023

Credit Risk and FICO Score Trends? credit risk and FICO® Score trends. At the same time, increasing adoption of recent innovations in credit scoring solutions should benefit consumers, leading to greater consumer empowerment opportunities and credit access.

Credit Risk 52

Credit Risk Credit and Collections Credit Scoring Debt Collections 52

FICO Blog

DECEMBER 12, 2022

Reflections 2022: The Power of Patents and the People Behind Them. In 2022, FICO was granted 11 new U.S. Mon, 12/12/2022 - 16:00. As 2022 draws to a close I am reflecting on what has been a very challenging year for the world at large. 2022 marked the comeback of in-person events, in a big way! software patents.

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Transactions 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. million previously “unscorable” consumer files.

Credit Scoring 52

Credit Scoring Debt Collections Credit and Collections Medical Billing 52

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. asokolowski. by Jim Patterson. expand_less Back To Top.

Credit and Collections 52

Credit and Collections Debt Collections Default Credit Risk 52

Abrigo

OCTOBER 10, 2023

Last year's 2022 Loan Review Survey by Abrigo found these four common challenges in effective loan review. In addition to providing a more  efficient credit risk review , a loan review solution can provide other analytics to support staffing requests. Loan review issues include staffing challenges and training.

Credit Unions 78

Credit Unions Credit Risk CECL 78

Abrigo

OCTOBER 10, 2023

Last year's 2022 Loan Review Survey by Abrigo found these four common challenges in effective loan review. In addition to providing a more  efficient credit risk review , a loan review solution can provide other analytics to support staffing requests. Loan review issues include staffing challenges and training.

Credit Unions 78

Credit Unions Credit Risk CECL 78

FICO Blog

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 2 (2022). Building portfolio risk resilience into customer acquisition. Thu, 12/08/2022 - 16:00. FICO® Scores, often an important contributor to underwriting risk management strategies, are designed to provide valuable risk rank-ordering through all economic cycles.

Default 52

Default CECL Credit Risk 52

Abrigo

APRIL 24, 2023

Construction loans grow, delinquencies flatten in 2023 Construction lending projections look positive according to S&P data from 2022 and 2023. banks stayed roughly flat in the fourth quarter of 2022, while total construction loan balances continued to rise. How can your institution prepare to grow its construction portfolio?

Credit Risk 78

Credit Risk Default 78

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.

Credit and Collections 52

Credit and Collections Default Credit Risk Transactions 52

Your Virtual Credit Manager

OCTOBER 15, 2024

” That comes after a 61 percent increase over the same period from 2022 to 2023. To learn more about implementing a strategic collections process, join David Schmidt on October 16, 2024, at 1:30 PM EDT for a webinar on the subject Webinar Registration Do you need help assessing your customers’ credit risks?

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Chapter 11 Bad Debt Accounts Receivable (AR) Chapter 7 130

FICO Blog

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models.

Credit and Collections 52

Credit and Collections Default Credit Risk 52

Abrigo

APRIL 25, 2024

Takeaway 3 With lower interest rates nowhere in sight, lenders need to monitor and adjust lending and underwriting strategies based on their own institution’s credit risk profile. Behind these two drivers is higher core inflation, which impacts SMB costs and margins while removing discretionary spending from the consumer.

Small Businesses 88

Small Businesses Credit Unions Credit Risk CECL 88

Abrigo

APRIL 22, 2024

trillion between 2019 and 2022. Lending processes at many banks and credit unions impair their growth efforts. A 2022 report by industry research firm Datos , formerly Aite-Novarica, said lenders have limited levels of automation in a market that requires scale, speed, and loan application volume for success.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

Abrigo

JUNE 29, 2022

Takeaway 2 Surging commodity prices have been expected to drive agricultural sector receipts higher in 2022. . Either way, ag lenders and producers will have much to monitor in the ag sector outlook heading into the second half of 2022. billion in 2022. and eggs could increase by 25% in 2022. billion in nominal dollars.

Credit Risk 78

Credit Risk Credit and Collections Small Businesses 78

Abrigo

MAY 19, 2023

You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems. Read more for specific objectives every loan review system should meet.

Credit Risk 78

Credit Risk Credit Unions Credit and Collections Small Businesses 78

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." well, I have others.”

Credit Risk 78

Credit Risk Credit and Collections CECL 78

Abrigo

MAY 22, 2024

trillion between 2019 and 2022. Lending processes at many banks and credit unions impair their growth efforts. A 2022 report by industry research firm Datos , formerly Aite-Novarica, said lenders have limited levels of automation in a market that requires scale, speed, and loan application volume for success.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

Abrigo

DECEMBER 2, 2021

Takeaway 1 Some financial institutions have a budget surplus this time of year, and these funds can be spent now to help growth in 2022. Takeaway 2 Excess budget funds can also be used to help mitigate risk in areas such as the BSA department or loan review. Streamline and systematize loan review for 2022. Asset/Liability.

Credit Unions 78

Credit Unions Credit Risk CECL Transactions 78

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.

Credit Unions 78

Credit Unions CECL Credit Risk Credit and Collections 78

Abrigo

MAY 18, 2023

You might also like this webinar, "Return to basics: Asking the right credit risk questions." How broad a field does loan review need to plow to unearth potential credit risks and assess overall credit quality? Scope in loan reviewing What is the scope of an adequate loan review?

Credit Risk 78

Credit Risk Credit and Collections Default Credit Scoring 78

Abrigo

APRIL 7, 2023

You might also like this whitepaper: "2022 Loan Review Benchmark Survey Results." Making a case for greater efficiency Loan review automation eliminates manual processes, saving time and reducing human error. Here's what to say when presenting a case for software at your institution.

Credit Risk 78

Credit Risk CECL 78

Abrigo

JULY 25, 2022

decline in farm income in 2022, but that drop could be even larger if supply chain disruptions worsen because of Russia’s war on Ukraine. “As farm sector appears to be well positioned financially for the remainder of 2022, thanks to the strength of farm incomes from the past two years, he said. and eggs could increase by 25% in 2022.

Credit Risk 78

Credit Risk Credit Unions Small Businesses 78

Abrigo

APRIL 21, 2023

Focus loan reviews on risk in the portfolio Continuous loan review monitoring helps banks and credit unions ensure credit review systems support safe and sound lending. You might also like this webinar, "Return to basics: Asking the right credit risk questions."

Credit Unions 78

Credit Unions Credit Risk Small Businesses 78

Abrigo

MAY 19, 2023

You might also like this webinar, "Return to basics: Asking the right credit risk questions." Introduction A few good men and women In previous articles, we have explored the objectives of a loan review and credit risk review system in general.

Credit Risk 78

Credit Risk Credit Unions Revenue Recognition Default 78

Abrigo

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . The new requirements become effective on April 1, 2022, but compliance is not required until May 1, 2022.

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Cybersecurity CECL Law Firms Credit Risk 78

Abrigo

MAY 30, 2023

Takeaway 2 Reporting tiers and their deadlines are based on the number of covered transactions to small businesses that a lender originated in 2022 and 2023. In fact, a company or organization must have originated at least 100 covered credit transactions in 2022 and 100 in 2023 to fall under the rule’s requirements at all (i.e.,

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Abrigo

JANUARY 25, 2022

That has top bank and credit union leaders looking to continue the advances in digitalization that have helped them through the pandemic. Indeed, 35% of CEOs say investing in digitalization is their top business opportunity in 2022, according to the Independent Banker’s annual Community Bank CEO Outlook survey. Asset/Liability.

Credit Unions 78

Credit Unions CECL Credit Risk Transactions 78

Your Virtual Credit Manager

FEBRUARY 28, 2023

It will reduce your Accounts Receivable (AR) balance and the associated elevated credit risk inherent in a larger AR. Getting customers to pay now rather than later reduces the risk of a default down the road. It will contribute to you realizing accelerated cash inflows, which will be critically important during a recession.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

JANUARY 3, 2023

Do not match unapplied credits with open deductions and debits unless there is documentation to relate them or you will be in violation of escheatment laws. Refresh the credit risk ratings and credit limits of customers that have not been updated within the past two years. Does You AR Portfolio Need Spring Cleaning?

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AR Automation Collector Credit and Collections Bad Debt 130

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. Takeaway 3 Banking intelligence that's purpose-built for banks and credit unions combines analytics and intuititve dashboards.

Credit Unions 78

Credit Unions CECL Credit Risk Dashboards 78

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. Many times even if your business is in a high-risk category, you may still be able to qualify for funding as long as you meet the other criteria.

Credit Scoring 52

Credit Scoring Credit and Collections Insurance Companies Credit Risk 52

Abrigo

DECEMBER 17, 2021

Financial institutions should strive to master these three elements to build a solid foundation for successful fintech partnerships in 2022 and beyond. . Lending & Credit Risk. Portfolio Risk & CECL. Lending & Credit Risk. Credit Risk Management. Lending & Credit Risk.

Credit Unions 78

Credit Unions Credit Risk CECL 78

Abrigo

FEBRUARY 7, 2023

In its 2022 Commercial Real Estate Lending update , the OCC advised that staff members who manage real estate and construction lending risk should report to the credit department of a bank rather than to the real estate department. Read the whitepaper, "Red flags and warning signs of contractor failure."

Credit Risk 78

Credit Risk Credit Unions Default Transactions 78

Abrigo

FEBRUARY 23, 2022

After the success community banks and credit unions had helping businesses in their local communities with lending during the pandemic , financial institutions continue to turn to small business loans as a source of portfolio growth. Lending & Credit Risk. Lending & Credit Risk. Lending & Credit Risk.

Small Businesses 78

Small Businesses Credit Unions Credit Risk CECL 78

Your Virtual Credit Manager

AUGUST 11, 2024

Commercial bankruptcies have been surging since mid-2022. To continue reading and learn six financial markers that suggest a customer’s business is headed in the wrong direction, you must be a paid subscriber to Your Virtual Credit Manager. Subscribe now Do you need help assessing customer credit risks?

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100