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Fintechs and Risk Management

Posted by Craig Laures

Wed, Sep 18, 2019 @ 10:00 AM

Fintech providers play an important role in the financial services industry. Banks and credit unions rely heavily on fintechs to sustain compliant efficient operations, process payments and other data, protect information and deliver service to customers in a variety of ways. Partnerships with fintechs offer expertise you may not otherwise have the resources to acquire. Thus, the reward for engaging with trusted providers. On the other side of the reward equation is risk inherent with third-party relationships.

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Topics: Fintech, Partnership, Community Banks, Risk/Fraud

Exploring the Natural Evolution of Commercial Lines of Credit

Posted by Paul McCulloch

Fri, Sep 06, 2019 @ 11:00 AM

The commercial line of credit is evolving, for two reasons. First, because it’s time. Second, because it can. The current expansion of the U.S. economy has now become the longest in our history. As we move further into the economic cycle and a period of slower growth, it will become necessary for financial institutions to more closely monitor the condition of their business clients as well as their primary sources of repayment. Fortunately, this is coming at a time when the evolution of financial technology and data analysis has opened the door to affordable and efficient methods of doing just that. This opportunity has begun to be realized as big data organizations start merging their technology with commercial loan monitoring systems.

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Topics: Commercial Lending, Risk/Fraud, Data and Analytics

When It Comes to Resiliency, Can You Handle The Truth?

Posted by Eric Flick

Wed, Sep 04, 2019 @ 11:00 AM

I love movies. One of my favorites is A Few Good Men starring Jack Nicholson and Tom Cruise. In the movie’s climactic scene, Cruise, a military lawyer, demands the truth from Nicholson’s Col. Jessup character. In what has become one of Nicholson’s most famous movie lines, he intensely blurts out, “you can’t handle the truth!” In my 30+ years of working with technology, most of it around the financial services industry, I often find this statement bouncing around in the back of my mind as I’m talking with IT professionals.

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Topics: Financial Institution, Information Security, Future Ready, Risk/Fraud

Data Analytics: What's the Hype About?

Posted by Jennifer Geis

Tue, Feb 05, 2019 @ 11:00 AM

 

There is no doubt that we live in a world full of data, and it’s multiplying at astounding rates. With the advent of the internet and our love affair with social media, the amount of data is increasing like never before. It is shocking if you stop to think about how much data is being created every minute of each day. From streaming videos, social media posts, online searches, emails and texts, to banking and payment transactions, the examples go on and on.

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Topics: Data Management, Community Banks, FI Operations, Risk/Fraud, Data and Analytics

False Positives are Positively Costing You Money

Posted by Tammy Bangs

Wed, Dec 12, 2018 @ 11:00 AM

 

I visit with a lot of BSA and Risk officers in my role as sales engineer for our financial crimes solutions.  And let me tell you something … I hear a lot about false positives. I have heard folks in our industry call these the bane of their existence. Whether it’s with sanctions screenings, AML, card processing or any other type of fraud, getting too many false positives is a bigger risk for your institution than you may realize.

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Topics: Credit Unions, Financial Institution, Digital and Community Banking, Community Banks, FI Operations, Risk/Fraud

Crushing the Compliance Burden with Artificial Intelligence

Posted by Hannah Day

Wed, Nov 28, 2018 @ 11:00 AM

 

Fraudster tactics that target financial institutions (FIs) continue to evolve at a dizzying pace. Compliance departments are being brought to a breaking point as they work to sort through the mountain of transactions, data, and false positives each day. Compliance staff employees at FIs large and small are looking for a solution to bring efficiencies to the FI in an effort to save time, money, and ensure they protect their end users against fraud. Artificial intelligence (AI) may just be the solution they are searching for.

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Topics: Compliance, Information Security, Future Ready, Risk/Fraud

Monday Night Football: It’s half-time for CECL

Posted by Brad Dahlman

Mon, Nov 05, 2018 @ 11:00 AM

 

Fall is my favorite time of year, as the weather cools, the leaves change, and the football season heats up! I enjoy watching NFL football, and am often struck by how the momentum of the game can dramatically change at half-time. To the fans, half-time is generally focused on grabbing a snack or watching highlights. To the players and coaches, this 12-minute half-time break is all about assessing the first half and adjusting the game plan to have a successful second half. Great coaches and leaders find a way to refocus the team, adjust the game plan, and emerge with a team ready to win the second half.

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Topics: Credit Unions, Compliance, Community Banks, FI Operations, Risk/Fraud

Are You Ignoring Your Core?

Posted by Pete Major

Wed, Jun 20, 2018 @ 11:00 AM

 

All systems require some type of regular investment (time, money, sweat, and maybe even some tears) and this is particularly true for your core system. Whether you use a service bureau or you have an in-house system, it’s easy to think that once you convert to a new system your job is done. But with any system, it’s important that you stay up to date. Things are changing at a dizzying pace in this industry and your financial institution (FI) needs to stay at the forefront. Here are some tips and tricks to help you stay current with your core.

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Topics: Financial Institution, Fintech, Information Security, Cybersecurity, Community Banks, Risk/Fraud

CECL: Not all models are created equal…

Posted by Brad Dahlman

Wed, Jun 13, 2018 @ 11:30 AM

A lot has been written about the new Current Expected Credit Loss (CECL) changes which will affect FIs in the coming years. This is one of the largest changes to FI financial reporting and credit risk management in decades and certainly warrants ongoing conversations.

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Topics: Credit Unions, Compliance, Community Banks, Risk/Fraud

The Timely Death of End-to-End

Posted by Gary Lewis

Fri, Feb 23, 2018 @ 01:30 PM

 

The term end-to-end has been used by software vendors and bankers in recent years to describe loan origination systems. I heard this term no less than 30 times during a recent banking conference. I hereby announce today that the term is dead, or at least should be.

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Topics: Commercial Lending, FI Operations, Risk/Fraud, Data and Analytics

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