FICO Blog

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 1 (2022). This four-part series looks at embedding portfolio risk resilience into decisions across the credit lifecycle through targeted application of the FICO ® Resilience Index. Thu, 12/08/2022 - 16:00. FICO Admin. Tue, 02/18/2020 - 14:57. by David Binder.

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CECL Credit and Collections Credit Risk Default 52

FICO Blog

DECEMBER 12, 2022

Reflections 2022: The Power of Patents and the People Behind Them. In 2022, FICO was granted 11 new U.S. Mon, 12/12/2022 - 16:00. As 2022 draws to a close I am reflecting on what has been a very challenging year for the world at large. 2022 marked the comeback of in-person events, in a big way! software patents.

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Transactions Credit Risk 52

FICO Blog

FEBRUARY 7, 2023

Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. million previously “unscorable” consumer files.

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Credit Scoring Debt Collections Credit and Collections Medical Billing 52

Abrigo

APRIL 25, 2024

Takeaway 3 With lower interest rates nowhere in sight, lenders need to monitor and adjust lending and underwriting strategies based on their own institution’s credit risk profile. Behind these two drivers is higher core inflation, which impacts SMB costs and margins while removing discretionary spending from the consumer.

Small Businesses 88

Small Businesses Credit Unions Credit Risk CECL 88

Abrigo

OCTOBER 10, 2023

Last year's 2022 Loan Review Survey by Abrigo found these four common challenges in effective loan review. In addition to providing a more  efficient credit risk review , a loan review solution can provide other analytics to support staffing requests. Loan review issues include staffing challenges and training.

Credit Unions 78

Credit Unions Credit Risk CECL 78

Abrigo

OCTOBER 10, 2023

Last year's 2022 Loan Review Survey by Abrigo found these four common challenges in effective loan review. In addition to providing a more  efficient credit risk review , a loan review solution can provide other analytics to support staffing requests. Loan review issues include staffing challenges and training.

Credit Unions 78

Credit Unions Credit Risk CECL 78

FICO Blog

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 4 (2022). Building portfolio risk resilience into Collections & Recovery. Fri, 06/03/2022 - 12:24. Thu, 12/08/2022 - 16:00. asokolowski. by Jim Patterson. expand_less Back To Top.

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Credit and Collections Debt Collections Default Credit Risk 52

FICO Blog

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 2 (2022). Building portfolio risk resilience into customer acquisition. Thu, 12/08/2022 - 16:00. FICO® Scores, often an important contributor to underwriting risk management strategies, are designed to provide valuable risk rank-ordering through all economic cycles.

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Default CECL Credit Risk 52

FICO Blog

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models.

Credit and Collections 52

Credit and Collections Credit Risk Default 52

Abrigo

MAY 19, 2023

You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems. Read more for specific objectives every loan review system should meet.

Credit Risk 78

Credit Risk Credit Unions Credit and Collections Small Businesses 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. You might also like this whitepaper: "2022 Loan Review Benchmark Survey Results." well, I have others.”

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Credit Risk Credit and Collections CECL 78

Lockstep

NOVEMBER 8, 2022

By automating a company’s collections process, cash flow is increased, and credit risk is decreased. Lockstep has won numerous awards including the 2022 BIG Innovation Award, 2022 Top Accounting Solution by CFO Tech Outlook , and Most Promising Fintech Solution by CIOReview. Visit Lockstep.io.

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AR Automation Accounts Receivable (AR) Automated Cash Application Credit and Collections 120

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?

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Credit Risk Credit and Collections Default Credit Scoring 78

Abrigo

DECEMBER 2, 2021

Takeaway 1 Some financial institutions have a budget surplus this time of year, and these funds can be spent now to help growth in 2022. Takeaway 2 Excess budget funds can also be used to help mitigate risk in areas such as the BSA department or loan review. Streamline and systematize loan review for 2022. Asset/Liability.

Credit Unions 78

Credit Unions Credit Risk CECL Transactions 78

Abrigo

APRIL 7, 2023

You might also like this whitepaper: "2022 Loan Review Benchmark Survey Results." Making a case for greater efficiency Loan review automation eliminates manual processes, saving time and reducing human error. Here's what to say when presenting a case for software at your institution.

Credit Risk 78

Credit Risk CECL 78

Abrigo

APRIL 21, 2023

Focus loan reviews on risk in the portfolio Continuous loan review monitoring helps banks and credit unions ensure credit review systems support safe and sound lending. You might also like this webinar, "Return to basics: Asking the right credit risk questions."

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Credit Unions Credit Risk Small Businesses 78

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.

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Credit Risk Credit Unions Revenue Recognition Default 78

Abrigo

JULY 25, 2022

decline in farm income in 2022, but that drop could be even larger if supply chain disruptions worsen because of Russia’s war on Ukraine. “As farm sector appears to be well positioned financially for the remainder of 2022, thanks to the strength of farm incomes from the past two years, he said. and eggs could increase by 25% in 2022.

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Credit Risk Credit Unions Small Businesses 78

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. In fact, a company or organization must have originated at least 100 covered credit transactions in 2022 and 100 in 2023 to fall under the rule’s requirements at all (i.e.,

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Abrigo

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . The new requirements become effective on April 1, 2022, but compliance is not required until May 1, 2022.

Cybersecurity 78

Cybersecurity CECL Law Firms Credit Risk 78

Your Virtual Credit Manager

FEBRUARY 28, 2023

It will reduce your Accounts Receivable (AR) balance and the associated elevated credit risk inherent in a larger AR. Getting customers to pay now rather than later reduces the risk of a default down the road. It will contribute to you realizing accelerated cash inflows, which will be critically important during a recession.

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Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Abrigo

JANUARY 25, 2022

That has top bank and credit union leaders looking to continue the advances in digitalization that have helped them through the pandemic. Indeed, 35% of CEOs say investing in digitalization is their top business opportunity in 2022, according to the Independent Banker’s annual Community Bank CEO Outlook survey. Asset/Liability.

Credit Unions 78

Credit Unions CECL Credit Risk Transactions 78

Abrigo

JUNE 5, 2023

Banking reports to inform risk management and strategy These reports on capital, growth, and liquidity help financial institutions spot warning signs. Takeaway 3 Banking intelligence that's purpose-built for banks and credit unions combines analytics and intuititve dashboards.

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Credit Unions CECL Credit Risk Dashboards 78

Your Virtual Credit Manager

JANUARY 3, 2023

Do not match unapplied credits with open deductions and debits unless there is documentation to relate them or you will be in violation of escheatment laws. Refresh the credit risk ratings and credit limits of customers that have not been updated within the past two years. Does You AR Portfolio Need Spring Cleaning?

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AR Automation Collector Credit and Collections Bad Debt 130

Abrigo

DECEMBER 17, 2021

Financial institutions should strive to master these three elements to build a solid foundation for successful fintech partnerships in 2022 and beyond. . Lending & Credit Risk. Portfolio Risk & CECL. Lending & Credit Risk. Credit Risk Management. Lending & Credit Risk.

Credit Unions 78

Credit Unions Credit Risk CECL 78

Abrigo

FEBRUARY 23, 2022

After the success community banks and credit unions had helping businesses in their local communities with lending during the pandemic , financial institutions continue to turn to small business loans as a source of portfolio growth. Lending & Credit Risk. Lending & Credit Risk. Lending & Credit Risk.

Small Businesses 78

Small Businesses Credit Unions Credit Risk CECL 78

Know-It Global

MAY 19, 2023

With the number of registered company insolvencies at 1,685 and 183 compulsory liquidations in April 2023 – nearly twice the number in April 2022 – the pressure on UK SME cashflow remains very real. This is according to Lynne Darcey Quigley, founder & CEO of Know-it. This article was first published by Business Money.

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Credit Risk Credit Management Small Businesses 52

Know-It Global

MAY 19, 2023

With the number of registered company insolvencies at 1,685 and 183 compulsory liquidations in April 2023 – nearly twice the number in April 2022 – the pressure on UK SME cashflow remains very real. This is according to Lynne Darcey Quigley, Founder & CEO of Know-it. This article was first published by Fintech Finance.

Credit Risk 52

Credit Risk Credit Management Small Businesses 52

Abrigo

MARCH 21, 2023

4.75% over the course of 2022 and 2023. With signs continuing to point toward additional rate hikes, albeit smaller, many financial institutions are uncertain how they can and should manage their balance sheets to effectively combat interest rate risk both in the present moment and to come in 2023 and beyond. billion – a 39.7%

Credit Unions 78

Credit Unions CECL Credit and Collections Credit Risk 78

FICO Blog

MARCH 21, 2023

Just over 40% of respondents said that volatility in the securitization market in 2023 would be higher than 2022, and another 36% believe it will be about the same. Only 23% expect volatility to be lower in 2023 than it was in 2022. Leading Secondary Market Participants Weigh In

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Credit Scoring Credit Risk 52

Know-It Global

MAY 19, 2023

million overdue invoices on their books at the end of 2022 according to insolvency and restructuring trade body R3. Automate your credit control with Know-it! We are in the midst of a late payment crisis engulfing businesses with the average SME having £68,413 owed to them in unpaid invoices. Get started for free.

Credit and Collections 98

Credit and Collections Credit Risk Credit Management 98

Know-It Global

FEBRUARY 7, 2023

Know-it, the all-in-one credit management solution, has today announced a new partnership with Swoop to bring Invoice Finance-it to the cloud-based platform.

Credit and Collections 98

Credit and Collections Credit Risk Credit Management 98

Abrigo

FEBRUARY 23, 2023

According to the Federal Reserve Bank of Kansas City , community banks’ deposit market share dropped to 15% in 2022 from 22% in 2013. For smaller banks, longer-term industry consolidation trends and competition are also eroding deposit market share. Talk to a specialist to learn more.

Credit Risk 78

Credit Risk CECL Small Businesses 78

Abrigo

FEBRUARY 23, 2022

Is growing the small business loan portfolio on your bank or credit union’s agenda? A recent survey by Abrigo found that 87 percent of banks surveyed are working to win more small business loans in 2022. Lending & Credit Risk. Lending & Credit Risk. Portfolio Risk & CECL. Learn More.

Small Businesses 78

Small Businesses Credit Unions Credit Risk CECL 78

Abrigo

SEPTEMBER 13, 2021

Add to this the prospect of a Fed rate hike in late 2022 or 2023, and the future looks more profitable for financial institutions. Learn more during this webinar: "Capital Planning for Banks & Credit Unions". Portfolio Risk & CECL. Peer Identification for CECL and Other Credit Risk Applications. Learn More.

CECL 78

CECL Credit Unions Credit Risk 78

Abrigo

JANUARY 19, 2022

The unusual circumstances make effective loan pricing more imperative than ever for banks and credit unions. Excess liquidity is persisting into 2022, affecting balance sheets and capital and squeezing net interest margins further as banks and credit unions deploy more assets in the lower-margin investment portfolio or in plain cash.

Credit Unions 78

Credit Unions Credit Risk CECL Transactions 78

Loomis Sayles Credit Research

JANUARY 18, 2023

EM corporates saw a higher-than-average default rate in 2022, underpinned by Chinese property defaults, defaults stemming from the Russia-Ukraine war and idiosyncratic stories in Mexico. While 2022 was a painful year for defaults, we see levels improving in 2023. ii] Source: JP Morgan, as of 31 December 2022. MALR030298.

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Default Credit Risk 52