FICO Blog

MARCH 21, 2023

Like in years past, we also surveyed SFVegas 2023 attendees on the overall economic climate and how they use credit scores to support securitization risk management. recession in 2023. More than 75% of respondents said a recession was likely or very likely in 2023, and only 7% said it was unlikely.

Credit Scoring 52

Credit Scoring Credit Risk 52

Abrigo

DECEMBER 27, 2022

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Be on the lookout in 2023 for the following trends identified by the FBI. You might also like this resource: "BSA/AML Risk Assessment Checklist." No fraud decrease likely for 2023.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit and Collections 78

Abrigo

FEBRUARY 14, 2024

Source: Senior Loan Officer Opinion Survey on Bank Lending Practices via FRED Finally, excess vacant office space relative to market demand hints at oversupply and the need for managing CRE loan portfolio risk. office buildings with a vacancy rate over 95% declined to 60% in Q2 2023 from 63% in Q1 2020, or pre-pandemic.

CECL 78

CECL Credit Risk Credit Unions 78

The Esker Blog

DECEMBER 13, 2022

These are all tell-tale signs that your AR performance is lacking and cashflow issues might be in store in 2023 or beyond. . is one of the most overlooked yet all-important factors in minimizing cashflow risk and maximizing the value to the business. Rethink collaboration. Collaboration within AR and across other departments (e.g.,

Accounts Receivable (AR) 97

Accounts Receivable (AR) DSO Bad Debt Invoice to Cash 97

FICO Blog

JANUARY 19, 2023

While UK support will continue through 2023, and possibly into 2024, we can expect to see it provided on a more targeted basis as governments face rising debt burdens as a proportion of GDP. Here are my three predictions for risk management and customer treatment in 2023.

Credit and Collections 52

Credit and Collections Debt Collections Credit Risk Default 52

Abrigo

NOVEMBER 9, 2022

Financial institutions work to meet Q1 2023 CECL deadline A CECL implementation survey by Abrigo found progress by financial instittuions is mixed ahead of the upcoming deadline. . Takeaway 1 10% of banks and credit unions have completed CECL adoption, according to Abrigo's CECL implementation survey. Portfolio Risk & CECL.

CECL 78

CECL Credit Unions Credit and Collections Credit Risk 78

Your Virtual Credit Manager

FEBRUARY 13, 2024

Following the sharp but short Covid Recession, roughly 5 million small businesses closed shop in the first six months after the economic shutdown, but commercial bankruptcies did not begin increasing until May of 2023, ostensibly due to the government’s economic stimulus programs. Here’s more on setting credit limits.

Bankruptcy 130

Bankruptcy Credit and Collections Bad Debt Accounts Receivable (AR) 130

Your Virtual Credit Manager

JUNE 20, 2023

Special Offer: On June 26, 2023, at 1PM EDT, David Schmidt will be leading a live webinar covering “ Strategic Collections: Process Efficiency and Tactics to Drive Superior AR Performance.” By altering its Credit Risk Management Policy in this way, businesses can boost revenue and protect profitability.

Credit Risk 20

Credit Risk Bad Debt Credit and Collections AR Aging 20

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. Learn more about CRE risk management in this webinar, "Red flags vs. red herrings: identifying emerging CRE risk."

Credit Unions 88

Credit Unions Credit Risk Insurance Companies Small Businesses 88

Know-It Global

JANUARY 24, 2023

Fintech’s influence will continue to grow in 2023, with these six trends expected to dominate: Trend one: The rise of invoice financing It is well known to every business that there can sometimes be a long gap between revenue and cash flow, especially when your customers demand long payment terms and wait until the last minute to pay.

Credit Risk 52

Credit Risk Credit Management Transactions 52

Know-It Global

JANUARY 19, 2023

Fintech’s influence will continue to grow in 2023, with these six trends expected to dominate: Trend one: The rise of invoice financing It is well known to every business that there can sometimes be a long gap between revenue and cash flow, especially when your customers demand long payment terms and wait until the last minute to pay.

Credit Risk 52

Credit Risk Credit Management Transactions 52

Abrigo

OCTOBER 10, 2023

Review the 2023 Loan Review Survey results with experts and get their take on emerging trends and best practices register for Webinar Takeaway 1 Effective loan review requires experienced staff, well-organized outsourcing, or a combination of the two. Loan review issues include staffing challenges and training.

Credit Unions 78

Credit Unions Credit Risk CECL 78

Abrigo

OCTOBER 10, 2023

Review the 2023 Loan Review Survey results with experts and get their take on emerging trends and best practices register for Webinar Takeaway 1 Effective loan review requires experienced staff, well-organized outsourcing, or a combination of the two. Loan review issues include staffing challenges and training.

Credit Unions 78

Credit Unions Credit Risk CECL 78

Abrigo

NOVEMBER 12, 2023

Support credit risk management Understanding loan covenants, when financial institutions should use them, and how to monitor them supports strong lending portfolios and credit risk management best practices. Takeaway 2 Capital, performance, and administrative covenants are common with business loans.

Credit Risk 88

Credit Risk Credit Unions Default CECL 88

Loomis Sayles Credit Research

APRIL 25, 2024

Trading places: credit and crisis indices flip The March 2024 survey expressed a renewed sense of optimism, highlighted by dramatic turnarounds in the credit outlook and crisis components. These indices measure our analysts' assessment of the credit outlook and odds of a crisis in the industries they cover, respectively.

Credit Risk 67

Credit Risk 67

Know-It Global

JANUARY 24, 2023

From new technologies to tough regulations for crypto, 2023 is already looking like a year of change for fintech. The cost of living crisis “In 2023, fintechs will need to keep supporting their clients by helping them thrive during these hard financial times and the cost-of-living crisis. ” – Edouard Billion, #2.

Credit Risk 52

Credit Risk Credit Management Transactions 52

Abrigo

NOVEMBER 13, 2023

Streamline your annual review process Which loans need them, what processes to avoid, and how to save time working with borrowers' complex credit needs. Regulators expect financial institutions to develop loan review or credit review systems tailored to their specific risks and circumstances. Strengthen your risk rating system.

CECL 78

CECL Credit Risk Transactions 78

Biz2X

MAY 23, 2023

Bank failures, higher interest rates resulting from central bank actions and the threat of inflation are causing traditional banks, credit unions, and other businesses in the financial services industry to look for novel ways to attract customers and increase profitability in 2023 and beyond.

Credit Unions 52

Credit Unions Credit and Collections Credit Risk Transactions 52

Abrigo

JANUARY 30, 2024

Consistently rated a top industry event by attendees, ThinkBIG brought together 650 people from banks, credit unions, and partners in 2023. Attendees staying at the resort can take advantage of two world-class golf courses, tennis or pickleball, or escape to the Tierra Luna Spa, a Forbes 2023 four-star Spa Award Winner.

Credit Unions 78

Credit Unions CECL Credit Risk Cybersecurity 78

Abrigo

JANUARY 24, 2024

FDIC list The state of acquisitions in a rising rate environment According to the FDIC, there were 44 banks on the problem bank list in the third quarter of 2023, and the agency expects that number to continue to climb in 2024. Watch this webinar, "Understanding audit and regulatory expectations for CECL."

CECL 78

CECL Credit Risk 78

Your Virtual Credit Manager

AUGUST 22, 2023

Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit. Actions that can be started immediately are: Establish Appropriate Customer Credit Limits and Risk Classifications. Here’s more on setting credit limits.

Credit and Collections 130

Credit and Collections Bad Debt Credit Risk Bankruptcy 130

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

JULY 25, 2022

Takeaway 2 Ag sector receipts are expected to increase, but so are input costs, so loan demand could pick up by 2023. . Farmers expect worse in 2023. Farmers are indeed anticipating worse conditions in 2023. Lending & Credit Risk. Lending & Credit Risk. Lending & Credit Risk.

Credit Risk 78

Credit Risk Credit Unions Small Businesses 78

Abrigo

MAY 30, 2023

DOWNLOAD Takeaway 1 The effective date of the CFPB's new rule based on Section 1071 of the Dodd-Frank Act is June 28, 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. But compliance deadlines are tiered.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Emagia

SEPTEMBER 27, 2023

“Uncertainty” may be the word that best describes the general feeling about where things are going in the B2B credit industry and the economy for the last quarter of 2023 and into next year. These pressing topics left many pondering the upcoming challenges and opportunities for businesses heading into the year’s final quarter.

B2B Credit 52

B2B Credit Credit and Collections Order to Cash Cash Applicator 52

Abrigo

FEBRUARY 14, 2023

Just a few of the data points for each application are: the purpose of the credit action taken denial reasons Census tract number of workers ethnicity of principal owners What’s the deadline for institutions to comply with the CFPB 1071 requirements? The final rule is expected by March 31, 2023.

Small Businesses 78

Small Businesses Credit and Collections Credit Unions Credit Risk 78

Abrigo

MAY 24, 2023

Download now Takeaway 1 Under current federal law, banks and credit unions face federal prosecution and penalties if they provide services to legal marijuana-related businesses. Takeaway 2 Considering the urgent need for a legislative solution, the SAFE Banking Act of 2023 could bridge the gap between state and federal marijuana laws.

Credit Unions 78

Credit Unions Law Firms Credit Risk Transactions 78

Abrigo

JANUARY 27, 2020

Key Takeaways Make sure your credit union is filing SARs and CTRs properly. Strengthen credit risk by improving your credit union's loan underwriting standards. The agency published its 2020 supervisory priorities to help credit unions prepare for their next exam. Strengthen credit risk by improving underwriting.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit Risk 78

Your Virtual Credit Manager

MAY 2, 2023

Growth is down, interest rates continue rising, small businesses are facing a credit crunch, commercial bankruptcies are skyrocketing and experts see an emerging threat: Washington Post: U.S. A critical part of this exercise involves identifying active and new customers posing high, or even just marginal, credit risks.

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Loomis Sayles Credit Research

OCTOBER 24, 2023

The latest results from the CANDIs , [i] proprietary diffusion indices that incorporate the views of our corporate credit analysts, indicate that aggregate corporate health is broadly improving and approaching neutral levels. Credit risk metrics like leverage have also improved. ii] Source: Factset, as of 30 September 2023.

Credit Risk 67

Credit Risk 67

Your Virtual Credit Manager

JANUARY 3, 2023

Photo by DESIGNECOLOGIST on Unsplash Editor’s Note: To start off the New Year, we’re bringing back three of the most popular YVCM articles from 2023. We trust you will find these articles valuable and wish you a prosperous 2023. For more on the importance of periodic credit reviews, click here.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Emagia

MAY 1, 2024

Generative AI took the business community by storm in 2023, sparking a flurry of interest and prompting organizations to evaluate its potential uses. Customer types can be summarized, with credit risks and trends fetched for each.

Order to Cash 52

Order to Cash Cash Forecasting Credit and Collections Shared Service Center 52

tillful

MAY 12, 2023

The unpaid customer invoices are collected directly from the customer instead of the financed company which mitigates credit risk for the lender. Like with invoice financing , your business or personal credit score is not a huge deciding factor. Basically, you will obtain a cash advance on your pending invoices.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Default 98

FICO Blog

APRIL 12, 2023

And while some of our clients’ business lines benefit from the very latest innovations, others such as mortgage continue to find that older versions of the FICO® Score – even some that were first developed decades ago – meet their needs for credit risk assessment. That’s because FICO® Scores are built to last.

Credit Scoring 52

Credit Scoring Credit and Collections Credit Risk 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 Business Money.

Credit Risk 52

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

Loomis Sayles Credit Research

JANUARY 18, 2023

This pivot, coupled with the pro-business rhetoric at the December Politburo meeting and increased support to the property sector, has signaled a decisively pro-growth 2023 economic agenda. What are you anticipating for defaults in 2023? While 2022 was a painful year for defaults, we see levels improving in 2023. MALR030298.

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Default Credit Risk 52