Emagia

APRIL 20, 2023

Intelligent Document Processing (IDP) is a cutting-edge technology that uses AI and machine learning to automate business processes that involve documents. IDP allows corporations to extract, categorize, and validate data from documents like contracts, invoices, and forms. What is Intelligent Document Processing?

Credit and Collections 52

Credit and Collections Deductions Credit Risk 52

Your Virtual Credit Manager

OCTOBER 22, 2024

When we first think about credit risk, our minds focus on the financial status of the company in question. To manage the risk that a customer might default, companies implement credit and collection policies and procedures. Falsifying documents is another way criminals perpetrate frauds.

Past Due Invoices 130

Past Due Invoices Credit and Collections Credit Card Payments Default 130

Abrigo

JUNE 9, 2020

Financial institutions are looking for a solution to increase efficiency, decrease risk, and provide complete, defensible documentation for loan types. Document preparation solutions, like Fusion LaserPro, help financial institutions to automate data entry, save time, and reduce errors. Learn more.

Credit Unions 78

Credit Unions Credit Risk 78

Abrigo

FEBRUARY 16, 2024

Preparing your credit administration for the next cycle Financial institutions should consider these tips for maintaining an efficient credit process throughout the year. You might also like these on-demand webinars tackling common credit risk questions. Discover options for loan policy review assistance.

CECL 78

CECL Credit Risk Credit Unions 78

Abrigo

SEPTEMBER 25, 2024

Lenders receive real-time feedback on the application status of loans in E-Tran, which allows them to make quick adjustments or provide additional documentation if needed. This software collects the exact data points needed, automatically generates the required documents, and returns recommendations based on qualification.

Credit Unions 88

Credit Unions Credit Risk Credit and Collections Small Businesses 88

Abrigo

NOVEMBER 17, 2023

Loan automation and workflow efficiency take borrowers from loan requests to credit decisions without the delays, repeated data entry, and miscommunication familiar to many loan officers and credit analysts. The time savings for credit analysts speeds up the decision for borrowers, creating a better chance to win deals.

Credit Unions 88

Credit Unions CECL Credit Risk Credit and Collections 88

Your Virtual Credit Manager

OCTOBER 8, 2024

Poor Documentation If your business does not maintain complete and accurate documentation, it can significantly hinder the collection process. Collection agencies rely on supporting documents like contracts, invoices, remittance history, proof of delivery, and communication records to substantiate claims and negotiate payment.

Third Party Collections 100

Third Party Collections Credit and Collections Bankruptcy Bad Debt 100

Your Virtual Credit Manager

OCTOBER 2, 2024

A common approach is to pledge a company’s AR as collateral to secure a loan whose funds are advanced shortly after you submit the necessary documentation confirming the AR’s creation, often an invoice and bill of lading. Your Virtual Credit Manager is a reader-supported publication.

Past Due Invoices 130

Past Due Invoices Credit and Collections Deductions Accounts Receivable (AR) 130

Abrigo

FEBRUARY 9, 2015

One of the most popular tools to monitor credit risk is a standardized risk rating system. A credit risk rating system provides banks and credit unions the opportunity to grade transactions in their commercial loan portfolio by level of risk. All credit exposures should be rated.

Credit Risk 60

Credit Risk Credit Unions Transactions 60

Abrigo

JULY 20, 2024

Credit risk : In C&I lending, at least part of the collateral is intangible. The emphasis for commercial credit risk management and evaluation is cash flow, fixed charges coverage, and working capital cycles. What will need to change for solid commercial credit analysis ? Pruis said.

Credit Unions 78

Credit Unions Credit Risk Small Businesses 78

Abrigo

APRIL 22, 2024

When a small business owner can upload supporting documents securely anytime from anywhere, the bank or credit union spends less time chasing documents. Analysts can begin analyzing the borrower more quickly when financial spreads are automated and when an AI-powered decisioning engine provides a loan score in seconds.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

Pactola

DECEMBER 7, 2020

For over 30 years, the regulators have advocated, or required, an independent validation of credit risk. This leads to a rush through files and, sometimes, failure to even discuss the credits with loan officers to assure a sound evaluation of the borrower. There is a good business reason for this function if managed well.

Credit Risk 40

Credit Risk Transactions 40

Abrigo

OCTOBER 18, 2022

Construction loans are a major source of income for many financial institutions, but the complexity of these long-term projects requires many stakeholders, documents, signatures, and approvals. The software allows builders to upload documents and photos from the field, manage their finances, and track project progress all in one place.

Credit Risk 78

Credit Risk Credit Unions 78

Abrigo

SEPTEMBER 28, 2022

They are usually long-term and require a lot of documentation to be submitted to the lender by stakeholders. For example, inspectors can submit documentation on their phones or tablets from the construction site instead of returning to the office to submit it. Stay up to date on credit risk. Lending & Credit Risk.

Credit Risk 78

Credit Risk Dashboards Transactions 78

Abrigo

MARCH 13, 2024

Takeaway 2 Address early warning signs immediately so you don't risk liability that could lead to the financial institution losing the CRE loan's collateral. Takeaway 3 To triage a CRE loan in workout, first re-engage the deal team and conduct a comprehensive review of the loan documents.

Credit Unions 88

Credit Unions CECL Default Credit Risk 88

Abrigo

SEPTEMBER 29, 2022

They are usually long-term and require a lot of documentation to be submitted to the lender by stakeholders. For example, inspectors can submit documentation on their phones or tablets from the construction site instead of returning to the office to submit it. Stay up to date on credit risk. Lending & Credit Risk.

Credit Risk 78

Credit Risk Credit Unions Dashboards Transactions 78

Abrigo

NOVEMBER 13, 2023

Takeaway 3 Utilize guidance lines to streamline the approval process for customers with fluctuating credit needs Fine-tune annual review Keeping annual review simple Annual loan reviews are a critical component in monitoring the health of a credit after it is initiated. How Review of outstanding documentation exceptions.

CECL 78

CECL Credit Risk Transactions 78

Abrigo

MAY 22, 2024

When a small business owner can upload supporting documents securely anytime from anywhere, the bank or credit union spends less time chasing documents. Analysts can begin analyzing the borrower more quickly when financial spreads are automated and when an AI-powered decisioning engine provides a loan score in seconds.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

Abrigo

OCTOBER 18, 2022

The basic functionality of construction loan management software For most financial institutions, a construction draw request consists of several sets of documents including budgets, receipts, and lien releases submitted by the contractor or developer to the lending institution. Stay up to date on credit risk. keep me informed.

Credit Risk 78

Credit Risk 78

Abrigo

JANUARY 17, 2023

A lot of us used a customer portal for PPP Lending due to the mere volumes of customer loan requests and documents flowing to/from the bank and the customer. Second, as documents arrive from the customer, the system has the capability to file these documents within the system in the proper place, automatically. Whitepaper.

Credit Risk 78

Credit Risk Small Businesses 78

Abrigo

AUGUST 29, 2022

Takeaway 3 Minimize institutional risk by digitally tracking and safeguarding critical loan documentation, giving customers peace of mind. A major factor expected to drive that growth is the increased investment in electronic documents by governments and financial institutions. Any typos or other issues within the document?

Credit Unions 78

Credit Unions Credit Risk Credit and Collections 78

Your Virtual Credit Manager

NOVEMBER 14, 2023

Selling only to financially strong customers reduces the risk of bad debt loss, (and the cost of Credit and Collections activity required). Most companies, however, need incremental sales volume from higher-credit-risk customers to break even and achieve profitability. it just might help them pay you sooner!

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Abrigo

OCTOBER 10, 2023

How industry analysis can improve your credit risk management Understanding your customers' businesses leads to better loan pricing, structure, and risk management. You might also like this webinar series, "Tackling common credit risk questions during challenging times."

CECL 78

CECL Credit Risk Credit Unions Small Businesses 78

Abrigo

SEPTEMBER 5, 2023

When and how to cite credit exceptions A policy on credit exceptions can address many factors that can lead financial institutions to diverge from loan policy and miss signs of potential trouble. You might also like these on-demand webinars on tackling common credit risk questions. and property tax payments.

Credit Risk 78

Credit Risk CECL Credit Unions Transactions 78

Your Virtual Credit Manager

FEBRUARY 27, 2024

Compliance Risks : For example, if credit practices are not compliant with fair lending laws or data privacy regulations, it can result in legal penalties and reputational damage. Alignment is more likely to be achieved when all parties understand the impact of credit risks and systemic failures in the O2C process.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Days Sales Outstanding Bad Debt Credit and Collections 130

Abrigo

DECEMBER 18, 2023

Recent headlines may lead bankers to believe that shunning commercial real estate lending is the safest path to limit or avoid credit risk, given stresses on CRE and regulatory concerns. CRE loan management tips Recent guidance on CRE loan modifications and workouts is evidence that regulators are concerned about managing CRE risk.

Credit Unions 88

Credit Unions Credit Risk Insurance Companies Small Businesses 88

Abrigo

APRIL 12, 2021

It’s also important to understand how an LOS may be able to help your bank or credit union. An LOS is defined as a system that automates and manages the end-to-end steps in the loan process – from the application, through underwriting, approval, documentation, pricing, funding, and administration. Credit Analysis Training.

Credit Unions 135

Credit Unions Credit Risk Credit and Collections Cybersecurity 135

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 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. DOWNLOAD Takeaway 1 Loan review, or credit review, must be timely, thorough, and accurate to meet regulatory requirements.

Credit Risk 78

Credit Risk Credit and Collections CECL 78

Abrigo

MAY 2, 2022

Risks are acceptable so long as they are identified, understood, measured, monitored, and controlled to the best of a bank or credit union’s ability. Loan policies make up the foundation for managing that credit risk. . Loan policies establish and prescribe credit risk parameters. Starting Points.

Credit Unions 78

Credit Unions Credit Risk Credit Scoring 78

Abrigo

OCTOBER 5, 2022

The role of a construction loan administrator is to manage commercial and residential projects and lines of credit, manage the construction loan draw process, review and analyze project budgets, and recommend funding to the C-level officers within the bank. Lending & Credit Risk. Lending & Credit Risk.

Credit Risk 78

Credit Risk Credit Management 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

JUNE 18, 2020

In addition, borrowers will be required to submit much of the same supporting documentation for payroll-related expense payments and for non-payroll obligations and expenses connected to the forgiveness application as they would with the longer form. Lending & Credit Risk. Credit Risk Management. C&I Loans.

Credit Risk 117

Credit Risk CECL Small Businesses 117

Abrigo

OCTOBER 28, 2022

Managing loan workouts and modifications Tips for preparing your bank or credit union to handle an increased volume of problem loans while ensuring prudent credit risk management. You might also like this video, "A look at credit risk in a rising-rate environment." CRE loan accommodations.

Credit Unions 78

Credit Unions Credit Risk CECL Credit Management 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

AUGUST 26, 2024

WATCH Takeaway 1 The forward-looking CECL approach to estimating the allowance for credit losses introduces risks that auditors and examiners are scrutinizing. Takeaway 2 Starting CECL model risk assessments at a high level ensures the focus is on data inputs, assumptions, documentation, and estimates.

CECL 78

CECL Credit Unions Credit Risk 78

Abrigo

NOVEMBER 9, 2020

As a result, some variations in processes and loan administration systems among credit unions and banks is expected. However, effective loan administration solutions or systems will help lenders avoid the most common documentation- and data-related deficiencies found during examinations. stay informed.

Credit Unions 78

Credit Unions Credit Risk CECL 78