Remove 2026 Remove Credit and Collections Remove Credit Risk
article thumbnail

3 Electronic signature benefits for banks and credit unions

Abrigo

E-signature capabilities benefit both customers and staff Banks and credit unions that leverage electronic signature capabilities reap the benefits of a more efficient lending process. Takeaway 1 Optimize the signature collection process. Better communication, data collection, and storage offer opportunities for efficiency gains.

article thumbnail

The CFPB section 1071 effective date

Abrigo

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.

article thumbnail

Unlocking the Value of Data in Embedded Finance

Biz2X

The embedded finance market is set to exceed $7 trillion by 2026. The Rise of Embedded Finance Traditional small business lending models rarely provide a comprehensive view of a businesss ability to repay a loan, especially for new or small businesses without established credit histories. But disadvantages do exist.