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  • How Small Banks Can Respond to the Coronavirus Outbreak and Help Businesses Survive How Small Banks Can Respond to the Coronavirus Outbreak and Help Businesses Survive
    How Small Banks Can Respond to the Coronavirus Outbreak and Help Businesses Survive
    April 06, 2020
    Customer Development

    Today we find ourselves in the midst of a pandemic that has impacted almost everyone worldwide. The coronavirus (COVID-19) outbreak has resulted in worldwide school and business closures, government-ordered lockdowns, and a sudden shortage of certain household goods. Things are changing by the minute and there’s not yet enough reliable data to make any official conclu…

    David Smith by David Smith
  • Credit Reporting in the U.S. During the COVID-19 Pandemic Credit Reporting in the U.S. During the COVID-19 Pandemic
    Credit Reporting in the U.S. During the COVID-19 Pandemic
    April 14, 2020
    Scoring Solutions

    We at FICO recognize the significant challenges faced by both borrowers and lenders in these extraordinary times. We've been working closely with lenders as well as our Credit Reporting Agency (CRA) partners throughout the COVID-19 pandemic to provide awareness of the various reporting options open to data furnishers, as well as how those reporting options can impact…

    FICO by FICO
  • How Small Banks Can Protect Their Customers & Portfolio Amid the COVID-19 Crisis How Small Banks Can Protect Their Customers & Portfolio Amid the COVID-19 Crisis
    How Small Banks Can Protect Their Customers & Portfolio Amid the COVID-19 Crisis
    April 13, 2020
    Customer Development

    As the coronavirus pandemic continues to develop, we are already seeing some very troubling signs in the economy. Unemployment claims continue to spike as the crisis hammers away at the U.S. economy. Suddenly, we have millions of people who are unexpectedly out of a job, with the leisure and hospitality industry being hit the hardest. Many small businesses are clos…

    David Smith by David Smith
  • Looking Ahead and Preparing for a Post-Coronavirus World Looking Ahead and Preparing for a Post-Coronavirus World
    Looking Ahead and Preparing for a Post-Coronavirus World
    April 22, 2020
    Customer Development

    Although we are still in the midst of the Coronavirus crisis, we need to be looking forward and preparing for the economic recovery. While the net effects of COVID-19 have yet to be fully realized, we can assume that it will forever change the way many businesses interact with their customers. Even before the Coronavirus outbreak, a digital transformation was alrea…

    David Smith by David Smith
  • Top Reads for a Digital Detox While Self-Isolating Top Reads for a Digital Detox While Self-Isolating
    Top Reads for a Digital Detox While Self-Isolating
    April 24, 2020
    Fraud Protection & Compliance

    With my binge watching at an all-time high, I realized I need a detox from not just movies and shows, but electronics in general. As it turns out, I am not alone. I recently polled my colleagues for a recommended reading list, and there were almost too many options to choose from.  If you’re also searching for a break from devices, you may enjoy these reads th…

    Liz Lasher by Liz Lasher
  • Better Decisions Through Rapid Insights to Consumer Behavior Better Decisions Through Rapid Insights to Consumer Behavior
    Better Decisions Through Rapid Insights to Consumer Behavior
    April 27, 2020
    Decision Management

    Last Tuesday, FICO’s Matt Stanley and Tom Dehler presented an overview of best practices for the use of analytics in banking to help organizations respond to the challenge of the Covid-19 crisis. This session was the first breakout session in our month-long virtual event entitled Building Resiliency—Adapting to the Challenges of Today. In this new age where face-to…

    FICO by FICO
  • The Ballad of the Small Banker: An SBA Lender’s Experience with PPP Loans The Ballad of the Small Banker: An SBA Lender’s Experience with PPP Loans
    The Ballad of the Small Banker: An SBA Lender’s Experience with PPP Loans
    May 07, 2020
    Customer Development

    The media has been giving banks a lot of bad press for how the Paycheck Protection Program (PPP) was handled. While small businesses are scrambling to obtain emergency funding, the COVID-19 crisis has exposed some of the shortcomings of the big bank system. Undoubtedly the PPP has its problems, but there are nuggets of success. This is the story and timeline of a s…

    David Smith by David Smith
  • Successfully Navigating Debt Collection and Recovery for the Next Ten Years Successfully Navigating Debt Collection and Recovery for the Next Ten Years
    Successfully Navigating Debt Collection and Recovery for the Next Ten Years
    May 14, 2020
    Debt Collection & Recovery

    Smart, ongoing customer communication matters. Especially when it comes to collecting debt. And as we’re all learning, much more during a pandemic. I’m a communications guy through and through, with 25 years helping organizations create powerful communication strategies. I get a lot of questions about the digital transformation. Today, I’ll share insights I’ve lear…

    Michael Magaard by Michael Magaard
  • Digital Customer Communications and COVID-19 Digital Customer Communications and COVID-19
    Digital Customer Communications and COVID-19
    May 27, 2020
    Debt Collection & Recovery

    The recent announcement from the UK’s Financial Conduct Authority concerning its expectations about what to do next with customers who have been affected by COVID-19 — whether they have taken a payment holiday or not — underlines the importance of customer communications. This is true whether the customer is in collections or up to date, but assumes even greater impor…

    John McMahon by John McMahon
  • Stop the Social Engineering of Customers and Employees Stop the Social Engineering of Customers and Employees
    Stop the Social Engineering of Customers and Employees
    June 08, 2020
    Fraud Protection & Compliance

    Criminals are increasingly sophisticated in how they compromise data, and are deploying new tactics across the social engineering lifecycle. Detecting financial crimes often requires collating together all the pieces of the jigsaw. Fraudsters buy compromised data (credentials, ID documents, personally identifiable information or payment details). Ultimately, they u…

    Adam Davies by Adam Davies
  • Elder Fraud: 5 Ways to Protect the Ones You Love Elder Fraud: 5 Ways to Protect the Ones You Love
    Elder Fraud: 5 Ways to Protect the Ones You Love
    June 15, 2020
    Fraud Protection & Compliance

    Did you know that today is World Elder Abuse Awareness Day? In addition to being a  passionate defender in the fight against child identity fraud, I am also an ardent supporter of elders’ financial well-being. With this year’s theme of “Access to Justice: Legal, Social and Economic Services for Older Victims of Sexual, Physical and Financial Crimes,” a…

    Liz Lasher by Liz Lasher
  • This Crisis Shows We Need a More Decentralized Banking Market This Crisis Shows We Need a More Decentralized Banking Market
    This Crisis Shows We Need a More Decentralized Banking Market
    June 17, 2020
    Customer Development

    The number of commercial banks in the United States dropped from 14,400 in 1984 to 4,492 at the end of 2019, according to the Federal Financial Institutions Examination Council. This statistic (and others like it) have been used for years to warn consumers and policymakers of the dangers of the massive consolidation of the U.S. banking industry, and cite the need…

    Alex Johnson by Alex Johnson
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