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

Gaviti

AUGUST 27, 2024

A vendor solution that was built ahead of time to accommodate a wide range of industries and business transactions should be easily scalable to accommodate your growing business needs. Customers can also use it to view past invoices and payment history and make credit requests from one centralized place. Scalability.

DSO 92

DSO Credit and Collections Deductions Payment Portals 92

tillful

FEBRUARY 28, 2023

Like most business credit scores, the SBSS helps lenders and service providers understand the level of credit risk that businesses present. However, unlike most, FICO pulls financial data from the other major credit bureaus—collecting both personal and business credit history data under their business credit score.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Bankruptcy 98

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

TreviPay

MARCH 16, 2023

Crucially, TreviPay takes on the entire credit risk and becomes an extension of the manufacturers A/R teams making the process run smoothly. The retailers have been granted an average credit line of $32,000. With TreviPay, the entire A/R process was outsourced from invoicing, dispute processing, through to collections.

Credit and Collections 52

Credit and Collections Invoice Disputes Credit Application Credit Risk 52

tillful

JANUARY 11, 2023

From the amount of credit that suppliers will extend you to your ability to secure loans in general (as well as the interest rates you will pay on said loans), your business credit score can have a big impact on your financing efforts. Why is your business credit score a deciding factor for so many different financial transactions?

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit and Collections Small Businesses 52

Abrigo

NOVEMBER 22, 2021

Reg B, which implements one of two federal fair lending laws (the other is the Fair Housing Act), describes requirements for accepting credit applications. In addition, Reg B bars creditors from making statements that would discourage credit applicants on any of the bases listed above. Credit Risk Management.

Credit and Collections 78

Credit and Collections Debt Collections Credit Unions Electronic Funds Transfer 78

Abrigo

SEPTEMBER 14, 2022

What banks need to know as the CFPB gets closer to its final rule Banks, credit unions, and other creditors may be required to collect more data for each application under a new rule. You might also like this webinar: "Fortify Your Loan Policy to Effectively Manage Credit Risk." Credit Risk Management.

Credit and Collections 78

Credit and Collections Credit Unions CECL Credit Risk 78

Gaviti

MARCH 11, 2025

In the realm of B2B transactions, it’s easy to assume that securing a sale signifies the culmination of your efforts. Without proper credit assessments and checks, businesses expose themselves to significant financial risks, including cash flow disruptions and potential bad debts.

Credit Risk 52

Credit Risk Credit Scoring Credit and Collections Credit Application 52

Your Virtual Credit Manager

DECEMBER 17, 2024

As a general rule, the greater the potential value of the customer the greater the credit risk you will be willing to assume. Customer value and credit risk combined with past due severity will then inform your collection strategy. For more about credit risk analysis, check out The ABC’s of Credit Evaluations.

Credit and Collections 130

Credit and Collections Bankruptcy Credit Risk Default 130

Abrigo

DECEMBER 31, 2024

The major priorities and challenges in lending and credit risk in the year ahead Abrigo asked bank and credit union clients and members of our Advisory Services group to identify the trends and challenges that are top of mind.

Credit Risk 88

Credit Risk Credit Unions Credit and Collections Small Businesses 88

CreditStrong for Business

NOVEMBER 8, 2024

When a credit bureau receives a new trade reference about your company, it may add an account (also called a tradeline , payment experience, or trade experience) to your business credit report. New lenders or suppliers might also review a trade reference letter when you fill out a credit application.

Credit Scoring 40

Credit Scoring Credit Reporting Agencies Credit Application Credit Risk 40