Abrigo

MAY 22, 2024

Recent stats and dynamics of the small business lending market Understanding the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. T he following best practices address the top AML concerns specific to credit unions.

Credit Unions 78

Credit Unions Trust Companies Transactions 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

MARCH 24, 2023

Best practices for your BSA/AML risk assessment Learn top tips for creating a risk assessment to capture your credit union's risk. Has your credit union started your annual process for updating your anti-money laundering/countering the financing of terrorism (AML/CFT) risk assessment?

Credit Unions 78

Credit Unions Cybersecurity Credit and Collections Transactions 78

Abrigo

JUNE 5, 2023

Takeaway 3 Banking intelligence that's purpose-built for banks and credit unions combines analytics and intuititve dashboards. How can banks and credit unions quickly spot warning signs so they can act during volatile economic, industry, and institutional conditions?

Credit Unions 78

Credit Unions CECL Credit Risk Dashboards 78

Abrigo

OCTOBER 17, 2023

Why change management is vital for banks and credit unions Regulators promote change management to manage risk, but banks and credit unions can also achieve important benefits when they manage change. But banks and credit unions can also realize significant benefits when they incorporate change management strategies.

Credit Unions 78

Credit Unions CECL Credit Risk Dashboards 78

Abrigo

JULY 14, 2023

Leapfrog competition, reduce risk How to develop banking strategies using your data Everywhere bank and credit union leaders look, it seems, someone is talking about how financial institutions should leverage their data and analytics to develop strategies for leapfrogging competition and reducing risk. Learn more about Abrigo Connect.

Credit Unions 78

Credit Unions CECL Dashboards Revenue Recognition 78

Abrigo

JUNE 28, 2023

They wear many hats, especially in smaller community banks and credit unions. Why regular reports matter Board reporting on AML compliance activities BSA Officers have a lot of responsibilities. One essential obligation of BSA Officers is reporting to the board of directors.

Credit Unions 78

Credit Unions Dashboards Credit Risk Transactions 78

NorthOne

SEPTEMBER 10, 2024

The post Do Credit Unions Offer Business Accounts? Having a reliable business account is essential for entrepreneurs and small businesses. It’s the backbone of financial management, helping you keep track of income, expenses and everything in between. appeared first on North One Blog.

Credit Unions 52

Credit Unions Small Businesses 52

Abrigo

DECEMBER 27, 2022

The post 2023 Fraud trends: What banks and credit unions can expect appeared first on Abrigo. Fraud Prevention. Combining AML and fraud teams at your financial institution: Benefits & logistics. Learn More.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit and Collections 78

NorthOne

SEPTEMBER 10, 2024

Credit unions are member-owned financial cooperatives that prioritize customer service and community engagement. The post The 5 Best Credit Unions for Business Accounts in 2024 appeared first on North One Blog. They often.

Credit Unions 52

Credit Unions 52

Abrigo

APRIL 12, 2021

Takeaway 2 Once a bank or credit union understands the need for an LOS, it develop one or use a third-party vendor. A loan origination system (LOS) has become a common banking buzzword among banks and credit unions in recent years. It’s also important to understand how an LOS may be able to help your bank or credit union.

Credit Unions 135

Credit Unions Credit Risk Credit and Collections CECL 135

Fundera

OCTOBER 13, 2020

Although there were 48 Black-owned banks in 2001, there are fewer than 25 today (not including a number of credit unions). [2] Hope Credit Union: Montgomery. Hope Credit Union: College Station, Little Rock, Pine Bluff, and West Memphis. FAMU Federal Credit Union: Tallahassee. GN Bank: Chicago.

Credit Unions 122

Credit Unions Small Businesses 122

Abrigo

DECEMBER 20, 2024

Likely trends are shaped by a dynamic rate environment The top issues facing executives managing credit portfolio risk and the balance sheet at financial institutions are shaped largely by the dynamic rate environment, according to Abrigos outlook for major trends in the year ahead. Navigate rate environment uncertainty with confidence.

Credit Unions 78

Credit Unions CECL Credit Risk 78

Abrigo

NOVEMBER 13, 2024

Bank and credit union leaders can use data to inform small business lending Small businesses are showing resilience. Despite borrowing more and tapping credit lines, they're managing leverage and meeting debt obligations, according to Abrigo's proprietary data. Business credit line utilization is up. A recent U.S.

Small Businesses 88

Small Businesses Credit Unions Credit Risk Accounting Firms 88

RMAi Blog

SEPTEMBER 26, 2024

Furthermore, he is well-respected in the industry and has been invited to speak at multiple organizations, including America’s Credit Unions. He is a motivated business professional whose recent focus has been on prospecting and qualifying new leads, onboarding Clients, and driving revenue growth.

Credit Unions 130

Credit Unions Credit and Collections 130

Abrigo

OCTOBER 21, 2024

How financial institutions deal with problem loans Problem loans are a natural outcome of the risks banks and credit unions take when lending, and they should be expected over the long run during the ups and downs of the business cycle. Do not misconstrue; the bank or credit union remains at all times professional.

Credit Unions 78

Credit Unions Default Credit and Collections Credit Risk 78

Abrigo

AUGUST 13, 2024

10 good podcasts for bank & credit union execs & staff These banking podcasts discuss current events, strategic and policy issues, competition, digitalization advice, and more. Other podcasts might be internationally based and of little interest to community financial institutions or credit unions based in the U.S.

Credit Unions 88

Credit Unions CECL Credit Risk Small Businesses 88

Abrigo

MARCH 13, 2024

How to respond to CRE loan distress Use these tips for banks and credit unions to identify and handle commercial real estate loans that are showing signs of being problem CRE credits. Would you like other articles like this in your inbox? Is the above scenario another pandemic akin to our recent COVID experience?

Credit Unions 88

Credit Unions CECL Default Credit Risk 88

Abrigo

DECEMBER 2, 2024

Checks in the mail: A holiday gift for thieves As sure as Santa visits millions of homes on Christmas Eve, holiday check fraud will find its way into banks and credit unions during the festive season. Abrigo’s new fraud detection software for banks and credit unions finds more fraud faster.

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

ForwardAI

DECEMBER 20, 2022

Credit Union Times – 3 Strategies for Credit Unions to Compete in the Modern Banking Industry. Through the partnership, FinTech Automation can now provide seamless access to accounting data that is fully integrated with its cloud-native, API-driven core for fintechs, banks, and financial institutions.

Credit Unions 97

Credit Unions Small Businesses 97

Abrigo

DECEMBER 22, 2023

download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023. Takeaway 2 The top lending and credit blog posts focused on the benefits of banking technology, interest rate management, and developing risk ratings.

Credit Risk 88

Credit Risk Credit Unions Dashboards CECL 88

Abrigo

DECEMBER 28, 2023

It’s no wonder, then, that informational sources on asset/liability management (ALM) and portfolio risk were a significant focus of banks and credit unions. It covered the significant ways banks and credit unions measure interest rate risk and manage liquidity risk.

CECL 88

CECL Credit Unions Credit Risk Transactions 88

Abrigo

DECEMBER 22, 2023

Abrigo's top risk management articles The risk management blogs banks and credit unions are reading Probability of default, CECL model validation, and CRE risk are hot topics that risk management and accounting professionals will be tracking in the coming months. The FASB’s description of proposed changes can be found here.

CECL 88

CECL Credit Unions Default Credit Risk 88

Abrigo

FEBRUARY 6, 2024

Takeaway 3 Banks and credit unions should leverage new tools to improve check fraud prevention that can ease the burden on their staff and safeguard customers. WATCH Takeaway 1 Check fraud prevention is critical, especially as this costly fraud typology continues to trend upward in financial institutions.

Credit Unions 88

Credit Unions Transactions 88

Abrigo

SEPTEMBER 7, 2023

Court case: Credit union held liable for ACH fraud losses A construction company argued the financial institution "failed to establish a reasonable routine" for monitoring suspicious activity alerts tied to ACH. The rerouted destination for the construction company’s vendor payments was to the credit union in this case.

Credit Unions 88

Credit Unions Transactions Default 88

Abrigo

OCTOBER 15, 2024

Day 2 accounting and mark-to-market values How banks and credit unions involved in business combinations can overcome issues related to recognizing income in a changing-rate environment. You might also like this whitepaper, "Valuation and purchase accounting in a dynamic macroenvironment."

Credit Unions 97

Credit Unions CECL 97

Abrigo

SEPTEMBER 17, 2024

Manage the impact of interest rate cuts at your institution These five tips from Abrigo expert Dave Koch will help banks and credit unions prepare for a rate drop. Consider the following items a checklist for equipping your bank or credit union for rate cuts.

CECL 88

CECL Credit Unions Credit Risk 88

Abrigo

OCTOBER 19, 2023

Ideas for educating and promoting cybersecurity in October Cybersecurity Awareness Month is an opportunity for banks and credit unions to promote online safety and take steps to reduce cyber risks. And what does it mean for banks and credit unions? But how did Cybersecurity Awareness Month start?

Cybersecurity 88

Cybersecurity Credit Unions Transactions 88

Abrigo

DECEMBER 29, 2023

Watch NOW Takeaway 1 Abrigo's experts produced many pieces on lending and credit risk to provide strategies and tools to help banking professionals. Takeaway 2 Readers in 2023 were most interested in learning how the 1071 rule will impact banks and credit unions and about how automation improves processes.

Credit Risk 88

Credit Risk Credit Unions Credit and Collections Small Businesses 88

Abrigo

JULY 20, 2024

Commercial and industrial lending (C&I) will be the next big performance driver for banks and credit unions. DOWNLOAD Takeaway 1 If opportunities to drive bank or credit union performance are like the waves surfers seek. What will need to change for solid commercial credit analysis ? What’s at stake is $1.7

Credit Unions 78

Credit Unions Credit Risk Small Businesses 78

Abrigo

JUNE 3, 2021

Despite the risks, this new way of conducting business will mean an influx in profits for financial institutions and convenience for customers, and it's important that banks and credit unions are prepared. Build confidence before your next exam. Download the BSA Examination Checklist. Tactical & Strategic Tips.

Cybersecurity 147

Cybersecurity Credit Unions 147

RMAi Blog

MAY 5, 2023

About Garnet Capital Advisors Garnet Capital Advisors is a leading broker of loan portfolios for banks, credit unions, hedge funds, and specialty finance companies.

Credit Unions 130

Credit Unions Transactions 130

SMB Commercial Lending

FEBRUARY 1, 2023

Credit Unions, 20.2% The lending approval percentages were calculated based on a sampling of commercial loan requests from more than 1,000 applicants whose small business has been operating more than 2 years. Source: Biz2Credit) Alternative Lenders, 27.6% Institutional Lenders, 25.9% Small Banks, 21.2% Large Banks, 14.5%

Small Businesses 98

Small Businesses Credit Unions 98

Abrigo

MAY 24, 2024

Make FedNow work for your bank or credit union. Many of Abrigo's 2,400 community bank and credit union clients plan to incorporate the FedNow Service into their product offerings. The FedNow Service enables community financial institutions to stay competitive by meeting instant payment demands.

Credit Unions 97

Credit Unions CECL Credit Risk Transactions 97

Abrigo

SEPTEMBER 8, 2023

However, banks and credit unions must balance their fraud-fighting obligations with consumer compliance requirements on deposit-availability timeframes and notices under Reg CC. Efficient compliance with both Reg CC and the requirements tied to anti-fraud or anti-money laundering can also greatly impact customer or member experiences.

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

Abrigo

NOVEMBER 17, 2023

At many banks and credit unions, the way lenders and underwriters have handled loans is basically unchanged from decades ago. Frustrating processes tied to credit requests and slow loan decisions are among borrowers’ biggest complaints about banks and credit unions compared to online or alternative lenders.

Credit Unions 88

Credit Unions CECL Credit Risk Credit and Collections 88