One of the biggest trends in the financial crime industry is the convergence of fraud and regulatory compliance operations, which includes AML and know-your-customer, or KYC, regulations.
Countdown to Competitive Advantage If you are working in auto finance, you are no doubt aware that new accounting rules are being introduced to improve the forward-looking estimate of expected credit losses on loans and leases. CECL, or the Current Expected Credit Loss model, has been designed to ensure earlier recognition of credit losses to do all we can to avoid a repeat of the GFC experience. Having a canary in the coalmine is something we should all embrace. The main challenge with CECL is that it will require higher levels of capital to be kept in reserve and lead to changes in lending practices and portfolio and product management. It will also require a significant amount of work to meet the implementation deadline of 15 December 2019, which is now less than 21 months away. Based on our experience with global clients working to comply with IFRS 9, this... [Read More]
Meeting the separate AML compliance requirements of multiple countries can be a nightmare - here's how global fintech 4finance did it in record time.
The introduction of two initiatives in the UK credit card market may see an increase in the promotion and take-up of Directs Debit, and greater flexibility offered to those paying this way.
The UK’s Financial Conduct Authority desperately wants to help 3+ million borrowers get out of persistent debt — but will the fixes work the way they want them to?
Last year saw collectors making plans to deal with new regulations, as were their colleagues throughout banking. It’s no surprise then that the most popular collections posts on the FICO Blog dealt with getting ready for IFRS 9 and GDPR.
Having the ability to interpret the churn signals coming from different customer segments is becoming more important in managing customer relationships up-stream of switch requests.
Judging from the views on the FICO Blog, risk professionals are keenly interested in new ways to approach risk analytics.
With much of the dramatic shift in the U.S. regulatory landscape complete, we are moving to the next stage, which will focus more on efforts to adopt regulatory reform.
PSD2 introduces some factors that could halt the growth in card usage – or even start to reverse it. Here are three trends to watch.