Abrigo

MAY 30, 2023

1, 2024, and report for the first time by June 1, 2025. CFPB intends the data collected by lenders on each small business credit application to shed light on potential disparate treatment in loan terms, especially related to minority-owned small business applicants, including women-owned small businesses.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Biz2X

FEBRUARY 27, 2024

Section 1071 of the Dodd-Frank Act amended the Equal Credit Opportunity Act (ECOA), directing financial institutions to compile, maintain, and submit specific data on credit applications and lending decisions for women-owned, minority-owned, and small businesses, with the goal of fostering transparency, accountability, and fair lending practices.

Credit and Collections 52

Credit and Collections Credit Unions Small Businesses Credit Application 52

Emagia

MAY 1, 2024

As we approach 2025, this evaluation period will give way to broader adoption as more companies embrace the technology. A third interesting use focuses on more sophisticated credit applications and collections processes. If an action triggers a credit hold, it can help to find ways to get payouts faster.

Order to Cash 52

Order to Cash Cash Forecasting Credit and Collections Shared Service Center 52

Gaviti

OCTOBER 30, 2023

By 2025, Gartner predicts that more than 80% of new job opportunities in finance will be in roles other than traditional accounting and financial planning and analysis (FP&A). Its cash application enables automated payment matching that precisely allocates payments to invoices and achieves accuracy levels of 100%.

Days Sales Outstanding 75

Days Sales Outstanding Invoice Collections Credit and Collections DSO 75

Gaviti

FEBRUARY 18, 2024

billion by 2025 in the U.S. The evolution of digital technology and its application for various automated and data-driven technologies, including skip tracing, asset tracing and credit reporting, has helped them become more successful at collecting debt. In addition, it includes: Credit Monitoring and Management.

Debt Collections 52

Debt Collections Credit and Collections Days Sales Outstanding Invoice to Cash 52

Biz2X

NOVEMBER 20, 2023

Understanding CFPB 1071 CFPB 1071 amends the Equal Credit Opportunity Act (ECOA) to mandate data collection and reporting concerning business credit applications to the CFPB. Those with a minimum of 500 loans annually are required to start on April 1, 2025.

Credit and Collections 52

Credit and Collections Transactions Small Businesses Credit Application 52

Biz2X

NOVEMBER 20, 2023

Understanding CFPB 1071 CFPB 1071 amends the Equal Credit Opportunity Act (ECOA) to mandate data collection and reporting concerning business credit applications to the CFPB. Those with a minimum of 500 loans annually are required to start on April 1, 2025.

Credit and Collections 52

Credit and Collections Transactions Small Businesses Credit Application 52