Your Virtual Credit Manager

JANUARY 3, 2023

Clear from your AR ledger as many of the clutter transactions as possible. Match as many unapplied payments and unapplied credit memos to open invoices, deductions, and debit memos as possible. Refresh the credit risk ratings and credit limits of customers that have not been updated within the past two years.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

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. billion from $515.3

Credit Unions 78

Credit Unions Credit Risk CECL Transactions 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. Despite the seemingly long runway to prepare, it's not too early to get a handle on the new requirements and how they will affect a bank or credit union.

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. keep me informed.

Credit Unions 78

Credit Unions CECL Credit Risk Transactions 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

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

Abrigo

FEBRUARY 23, 2022

Is growing the small business loan portfolio on your bank or credit union’s agenda? A recent survey by Abrigo found that 87 percent of banks surveyed are working to win more small business loans in 2022. Lending & Credit Risk. Lending & Credit Risk. Portfolio Risk & CECL. Learn More.

Small Businesses 78

Small Businesses Credit Unions Credit Risk CECL 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

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

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

JANUARY 19, 2022

The unusual circumstances make effective loan pricing more imperative than ever for banks and credit unions. Excess liquidity is persisting into 2022, affecting balance sheets and capital and squeezing net interest margins further as banks and credit unions deploy more assets in the lower-margin investment portfolio or in plain cash.

Credit Unions 78

Credit Unions Credit Risk CECL Transactions 78

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

Abrigo

DECEMBER 27, 2022

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. You might also like this resource: "BSA/AML Risk Assessment Checklist." Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Lending & Credit Risk.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit and Collections 78

Abrigo

MARCH 15, 2022

Not surprisingly, then, digital/online account opening solutions for consumers and digital account opening solutions for commercial or small business firms are among the top types of new systems banks are looking to select or replace in 2022, according to Cornerstone Advisors. Lending & Credit Risk. Learn More. Learn More.

Credit Unions 78

Credit Unions Credit Risk Small Businesses Transactions 78

Abrigo

AUGUST 22, 2022

billion in fraudulent transactions, a staggering 47% of which were check fraud. One would think as technology improves so would the safeguarding features around monetary transactions. Cybercriminals, Fraudsters, and the Dark Web – What to Watch for in 2022. Lending & Credit Risk. Portfolio Risk & CECL.

Cybersecurity 78

Cybersecurity CECL Transactions Credit Risk 78

Abrigo

DECEMBER 20, 2021

T he CBOT enforcement action states that the bank failed to report hundreds of suspicious transactions to FinCEN even after the bank became aware that specific customer s were involved in criminal investigations. If you know you have questionable activity in your transaction monitoring, slow down and report. Learn More.

CECL 78

CECL Transactions Credit Risk 78

Serrala

AUGUST 29, 2022

The below will guide you through a few easy steps to identify if your credit landscape is due an upgrade. Credit Risk Management Software for Effective Credit Control Proactive credit risk management is a must to support a healthy business strategy.

Credit and Collections 52

Credit and Collections Credit Risk Dashboards Credit Scoring 52

Emagia

OCTOBER 31, 2022

Spreadsheets and then ERPs were the beginning of digital adoption in finance, which digitalized the manual recording and processing of finance and accounting transactions. A study by Deloitte foresees how automation and blockchain , among others, can transform finance transactions touch-less and self-serving.

Bad Debt 59

Bad Debt Credit and Collections Credit Management DSO 59

Due

JANUARY 3, 2023

There are a number of elements that make up your credit report, including personal information, your credit account history , and your credit inquiries. Credit bureaus receive this information from your lenders and creditors. FICO® Scores are used to determine whether you are a good credit risk for future lenders.

Credit Scoring 119

Credit Scoring Bankruptcy Credit and Collections Credit Reporting Agencies 119

Credisense

JUNE 19, 2022

These changes have impacted lending from mortgage applications, refinancing and other forms of consumer credit. To add to the reduction in demand, Centrix’s Keith McLaughlin stated in a Newstalk ZB interview , that it was not only higher risk borrowers affected by the changes to the legislation.

Credit Scoring 40

Credit Scoring Credit and Collections Credit Risk Transactions 40

Biz2X

AUGUST 7, 2022

Especially, how to price loan products for small businesses so as not to crush demand (which is strong due to recession) but also adequately account for the risk that may be entering the economy due to a weaker economic environment. Upcoming Federal Reserve Policy in 2022. Determining Credit Risk for Business Borrowers.

Credit Scoring 40

Credit Scoring Credit and Collections Credit Risk Credit Unions 40

Know-It Global

JANUARY 24, 2023

Know-it helps businesses make sense of their sales ledger, better know their customers and automate the credit control process end-to-end. This helps businesses mitigate credit risk, reduce debtor days and boost cashflow with ease. Trend five: The rise of PaaS Retaining customers is something every business must focus on.

Credit Risk 52

Credit Risk Credit Management Transactions 52

Know-It Global

JANUARY 19, 2023

Know-it helps businesses make sense of their sales ledger, better know their customers and automate the credit control process end-to-end. This helps businesses mitigate credit risk, reduce debtor days and boost cashflow with ease. Trend five: The rise of PaaS Retaining customers is something every business must focus on.

Credit Risk 52

Credit Risk Credit Management Transactions 52

FICO Blog

JANUARY 9, 2023

They’re also sound business practice and a solid pathway for dealing with customers – irrespective of where business is being transacted. Plenty still have siloed data across marketing, credit risk, customer management, fraud, compliance, and collections operations. Source: fca.org. Structure of Consumer Duty. Peter Lemon.

Credit and Collections 52

Credit and Collections Debt Collections Credit Risk Transactions 52

Know-It Global

JANUARY 24, 2023

Know-it helps businesses make sense of their sales ledger, better know their customers and automate the credit control process end-to-end. This helps businesses mitigate credit risk, reduce debtor days and boost cashflow with ease.” “Fintech’s are known for their disruptive innovations, and 2023 will be no exception.

Credit Risk 52

Credit Risk Credit Management Transactions 52

Abrigo

JUNE 15, 2023

The subjective nature of real estate pricing makes for easily manipulated transactions that run through financial institutions. Credit: Brian Koppel, Reel to Real Filming Locations blog According to a Global Financial Integrity (GFI) study , an estimated $2.3 billion was laundered between 2015 and 2020 through the U.S.

Credit Unions 78

Credit Unions Credit and Collections Transactions CECL 78

Abrigo

FEBRUARY 26, 2025

Banks & credit unions recognize the importance of new deposits After years of consistent deposit growth, financial institutions have faced a shift recently, with deposits declining since 2022. Build stronger relationships by recommending deposit products based on customer transaction behaviors.

Credit Unions 78

Credit Unions Small Businesses Transactions Credit Risk 78