Abrigo

OCTOBER 30, 2015

To help mitigate the increased credit risk, banks need to have appropriate risk management processes, including the ability to measure, monitor and control the risk, according to Curry. One area of credit risk that is concerning to the OCC is auto lending, which has been steadily growing in recent years.

Credit Risk 60

Credit Risk Credit Scoring Credit Unions 60

Biz2X

FEBRUARY 21, 2023

Are you seeking a top-notch loan management system for your credit union, small regional, or community bank? Credit Risk Assessment State-of-the-art loan origination software must be able to directly connect with credit bureaus to measure credit risk before making any credit decision.

Credit and Collections 59

Credit and Collections Credit Unions Dashboards Credit Risk 59

Biz2X

JULY 11, 2023

This guide makes the case for why lenders, including banks and credit unions, MUST invest in business loan automation. Solid credit risk assessment Automated processing of borrower-supplied credit documents in formats including PDF, digital image, JSON, XML, and others. What is Business Loan Automation?

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Credit and Collections Debt Collections Credit Risk Credit Unions 52

Abrigo

MARCH 2, 2015

Demand is also increasing at credit unions. Credit union auto loan portfolios reached $225 billion as of the end of Q3 2014, according to Sageworks Bank Information. As a result, competition among banks and credit unions is intensifying. Blog Bank Credit Union' FRED reports that 25.4

Credit Unions 79

Credit Unions Credit Scoring Credit Risk Default 79

Abrigo

AUGUST 28, 2019

Ask the staff of banks and credit unions about the loan application, underwriting, and onboarding processes at their respective institutions, and you’ll likely hear some complaints from them, too. Real-time credit scores can be pulled in without leaving the platform. Credit Risk. Credit Risk.

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Credit Unions Credit and Collections Credit Risk Credit Scoring 60

CreditStrong for Business

JULY 15, 2022

In addition to having access to business-specific lines of credit, credit cards, vendor accounts, and other tradelines, your commercial credit accounts will generally not require a personal guarantee. How to Build Commercial Credit. Ask your current bank or credit union how you can make the switch.

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Credit Scoring Credit Unions Small Businesses Credit Risk 52

Biz2X

AUGUST 7, 2022

Risk-based pricing models considers myriad factors to determine the loan amount and the borrower’s credit risk that go above and beyond simply a credit score. Determining Credit Risk for Business Borrowers. There are many factors to determine the credit risk for business borrowers.

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Credit Scoring Credit and Collections Credit Risk Credit Unions 40

Biz2X

APRIL 13, 2023

Credit monitoring works hand in hand with a bank’s underwriting process. However, banks, credit unions, and alternative lenders must balance their profit margins with industry standards. Bottom Line Loan portfolio management systems give lenders insight into the overall performance of their portfolios on an ongoing basis.

Credit Unions 52

Credit Unions Credit Risk Default Credit Scoring 52

Fundera

DECEMBER 27, 2018

If you’re a small business owner, you have two credit scores. There’s your personal credit score, and then there is your business credit score. A business credit score is a reflection of the creditworthiness of your business. Credit Data. Public Record.

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Credit Scoring Bankruptcy Credit Risk Credit Unions 55

Biz2X

JANUARY 24, 2023

The software allows lending businesses to make quick credit decisions using customized credit risk profiles, enhance customer experience by implementing full automation or more basic human enablement, and make workflows more efficient to lower costs. The backbone of the digitization of lending is software.

Credit and Collections 52

Credit and Collections Credit Unions Credit Risk Credit Scoring 52

Biz2X

NOVEMBER 13, 2022

pull in real-time information from the credit bureau’s like Dun & Bradstreet, Equifax, and Experian to help provide credit scoring data) and advanced analytics which provides insights into what input conditions might need to be adjusted. For example, the ability to integrate with 3rd-party technology and data sources (e.g.

Credit Unions 40

Credit Unions Credit Scoring Small Businesses Credit Risk 40

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.

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Credit Unions CECL Credit Risk Credit and Collections 88