TOPIC: New

What Basic Functions Should My Loan Origination System (LOS) Perform? | Blog

Are you in the market for a Loan Origination System (LOS)? If so, do you know what basic functions a loan origination system should complete? What should an LOS vendor provide? Knowing these elements of an LOS and an LOS vendor is critical for senior financial institution executives either shopping for an LOS for the first time or considering an improvement to their bank or credit union’s current business lending process.

Learn more about what basic functions your LOS should perform in our recent blog. 

    BSA Exam Prep Checklist - Free Download

    Preparing for a regulatory exam can seem overwhelming. Organizing your pre-exam tasks will help build confidence before your exam begins. Your financial institution’s exam should be risk-based, so be sure to communicate expectations with your regulator. Use this checklist of suggested key steps to ensure a smooth process for your next BSA examination, regardless of risk profile.
    Download this checklist to learn:
    • Areas of your BSA/OFAC policy, risk assessment, and business continuity plan to review prior to your exam
    • Key questions to ask when reviewing your AML program quality assurance
    • Other steps your financial institution should take to ensure you are prepared for your next BSA examination
    Download the checklist now 

      Free Webinar - Top Priorities for Credit Unions in 2021 and Beyond | Earn 1 CFCS credit and 1.25 CAFP & CRCM credits

      Wednesday, May 12, 2021
      2:00 PM ET / 1:00 PM CT
      Register today

      BSA/AML continues to be a priority for the NCUA. With new technological advancements and changing policies, it can be a challenge to sort through and follow the NCUA’s 2021 Supervisory Priorities with the limited resources credit unions have. In this session, Steve Gibbs, CUCE, BSACS, will discuss the proactive measures your credit union can take to reduce risk, protect your members, and manage priorities ahead of your next NCUA examination. 

      Join this session to learn:  
      • Best practices to maintaining correct and efficient SAR and CTR filings  
      • Methods to accelerate digitization and utilize automation to reduce risk within your BSA/AML program 
      • Key questions for credit unions to ask to properly evaluate the potential value and risk of serving cannabis-related businesses 
      • How to create a culture of cybersecurity awareness at your institution to keep your credit union and your members safe from new threats 
      Register 

        Infographic - 2021 Business Lending Survey Results

        During Q1 of 2021, Abrigo surveyed nearly 250 lenders, credit analysts, chief credit officers, chief risk officers, and other professionals involved in the lending and credit risk process. The results showed that despite new pushes toward digital transformations, many financial institutions continue to use manual lending processes that add costs, create delays, and make their staff work harder than they must.

        Download the infographic to learn:
        • The top reported obstacles for lenders in the commercial lending process
        • How the pandemic and related events impacted lending processes
        • The impact of manual processes on credit underwriting

          Commercial Account Opening | New Product Offering from Abrigo

          Streamline your account opening and treasury services to seamlessly onboard customers.

          In partnership with ProcessMaker, a leading provider in workflow management, Abrigo’s robust commercial account opening and treasury services software is an end-to-end online solution that allows financial institution customers to open commercial accounts from anywhere and in 10 minutes or less.

          Nearly three out of four bank customers agree that account opening should happen instantly, according to a recent study by Ekata, a global identity verification solution provider. However, excessive paperwork and bottlenecks in the back office make this impossible for most banks and credit unions. Abrigo’s customizable commercial account opening and treasury services software makes it easy for banks and credit unions to provide rapid account opening, bolstering customer satisfaction. Another unique component of this new software is the pairing of it with treasury management services onboarding. Abrigo Commercial Account Opening enables financial institutions to ask customers about adding treasury services at the same time they are opening the deposit account. Automating this process makes it easier for financial institutions to capture this important stream of fee income earlier and seamlessly. Abrigo Commercial Account Opening streamlines and automates many time-intensive components of account opening and treasury services while improving the experience for customers and members by, among other benefits:

          • Allowing the customer to apply for multiple business accounts at once
          • Incorporating a dynamic application that asks tailored questions contingent on previous answers
          • Allowing for e-signatures as well as remote upload of supporting documents
          • Allowing for applicants to start, save, and resume applications at any point
          • Supporting complex relationships and notifying related parties when their signature or other information is needed
          • Enabling treasury services to be jointly set up with the initial account opening
          Learn more about this exciting new product or send me a direct message or email (jill.cacic@abrigo.com) for more information! 


            Free Webinar | A Stronger Enterprise Risk Program

            Thursday, April 29, 2021
            2:00 PM ET / 1:00 PM CT
            Register now

            Implications from the pandemic brought renewed focus on risk management for banks and credit unions. However, many smaller financial institutions silo their risk management in departments and are reactionary to regulatory pressure. With many institutions facing critical decisions on deploying excess liquidity into loans or securities to manage profitability, the importance of a strong ERM process has never been more in focus.
            Low interest rates on investment alternatives and borrower preferences for fixed rate loans is increasing the pressure to consider taking on manageable levels of interest rate risk to mitigate high costs of excess liquidity. Yet many risk assessment processes miss the mark on understanding the trade-offs and potential gains from such a decision.


            Join this webinar to learn:
            • Information for capital planning, risk appetite, and overall strategy going forward
            • How management/directors can respond to future challenges
            • Why a risk assessment can set institutions up for success
            Save your seat

              ThinkBIG Conference Goes Virtual | May 25-27

              With the ongoing coronavirus pandemic, we have made the decision to take our annual conference, ThinkBIG, virtual! Join us online May 25-27 for fresh ideas on how to drive growth and manage lending, portfolio, and financial crime risk.

              For more than two decades, Abrigo’s conferences have been educating lenders, risk professionals, and BSA/AML professionals, and we are excited to bring the ThinkBIG: Manage Risk. Drive Growth. and ThinkBIG: Fighting Financial Crime conferences together for one BIG event. Your financial institution’s need to grow and manage risk doesn’t go away just because COVID-19 isn’t contained yet. In fact, now more than ever, bankers need to think bigger to be able to help your communities survive and win.

              View the agenda here: https://www.abrigo.com/thinkbig/agenda/
              Register today

                Free webinar | Top FinCrime Challenges Expected in 2021 | Earn 1 credit CFCS and 1.25 credits CAFP, CERP, & CRCM

                Wednesday, February 17, 2021
                2:00 PM ET / 1:00 PM CT
                Register now

                Following recent activity on Capitol Hill and speaking with compliance professionals across the country, our experts have compiled a list of the 5 most important financial crimes challenges in the new year. With the changing political climate, changing BSA regulations, and potential federal cannabis legalization on the horizon, there’s a lot on the minds of compliance professionals as we start 2021. Join us for the second webinar in this two-part series to ensure your program is prepared for 2021 and beyond. 

                Join to learn:

                • How to be proactive in preparing for top financial crimes challenges expected in 2021
                • How changing BSA regulations, the political climate, and cannabis legalization could affect your institution
                • What legislation is in progress and how it can reshape compliance programs

                This session is eligible for 1 credit CFCS and 1.25 credits CAFP, CERP, & CRCM

                Save your seat

                  Webinar | Top FinCrimes Challenges Expected in 2021 - Part 1 | Earn CAMS, CFCS, CAFP, and CRCM credits

                  Thursday, January 28, 2021
                  12:00 PM ET / 11:00 AM CT
                  Register here

                  Following recent activity on Capitol Hill and speaking with compliance professionals across the country, our experts have compiled a list of the 5 most important FinCrime challenges in the new year. With the ongoing coronavirus pandemic, a presidential administration change, and a new economic relief bill, there’s a lot on compliance professionals minds as we start 2021. 
                  Join to learn:
                  • How to be proactive in preparing for top challenges expected in 2021 
                  • How the ongoing coronavirus, increasing fraud, and new PPP relief affect your institution 
                  • What FinCEN and law enforcement guidance has been issued to reinforce expectations 
                  This session is eligible for 1 credit CAMS & CFCS and 1.25 credits CAFP & CRCM

                  Save your seat!

                  Register for part 2 here! 

                    How Borrowers Qualify for Second-Draw PPP Loan | Infographic

                    With the SBA's Paycheck Protection Program portal open for second-draw loans starting today, I attached an infographic that helps lenders and borrowers understand how to apply and qualify for a second-draw loan. You can get more detail on this blog, too. I hope these are helpful! 

                    If your institution is interested in streamlining the PPP origination and/or forgiveness process, please let me know. We can have you up and running within 48 hours. You can email me directly at jill.cacic@abrigo.com or send me a direct message. 

                      How CDFIs Can Support Their Communities Through PPP | Free Webinar

                      Wednesday, January 13, 2021
                      2:00 PM ET / 1:00 PM CT
                      Register here

                      Community Development Financial Institutions (CDFIs) have access to the next round of the Paycheck Protection Program (PPP) funding so how can you use this opportunity to support your mission and your communities?

                      Join Abrigo and Optus Bank to hear how this South Carolina CDFI participated in the 2020 rounds of funding with the PPP and the impact they saw in their community.

                      Join to learn:
                      • Quick overview of the Paycheck Protection Program and how it’s changed
                      • How this program will be unique for CDFI lenders
                      • How PPP originated loans can be a lifeline to struggling businesses in your CDFI’s charter
                      Save your seat!

                        What's Change in PPP in 2021? | Free Webinar

                        Monday, January 11, 2021
                        4:00 PM ET / 3:00 PM CT
                        Register

                        With Congress passing another stimulus bill for 2021, the SBA clarified how lenders can participate in the next round of the Paycheck Protection Program (PPP) in the new year, gaining access to more than $300 billion that will be available for struggling businesses until March 31.
                        Register for this webinar to hear from experts at Abrigo on how PPP will evolve.

                        Join to learn:
                        • Quick overview of the Paycheck Protection Program
                        • How lenders can be ready to support their business communities
                        • What new qualifications will be in place for PPP in 2021 
                        **Please note, the 1 p.m. webinar we had previously posted about is at capacity. If you haven't already registered, please register for the 4 p.m. webinar as they will cover the same things. Also, by registering you will receive a recording of the webinar afterwards to watch on-demand.**

                          How Does a Borrower Qualify for a Second-Draw PPP Loan? | Infographic

                          In late December, Congress approved a highly anticipated new stimulus bill, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues, or the Economic Act. The new relief package afforded more than $284 billion to the Paycheck Protection Program (PPP) and other Small Business Administration (SBA) programs. The new round of PPP also brought new changes, including expanding the list of eligible expenses, setting aside money for smaller lenders, and allowing some borrowers to apply for a second PPP loan. 
                          Download our useful infographic to help your customers/members know if they can apply for a second PPP loan.

                          **Register for our free webinar this Monday, January 11 to hear from experts at Abrigo and the Small Business Administration (SBA) District Office of North Carolina on how PPP will evolve. Register here


                            What's Changed for PPP in 2021 | Free Webinar

                            Monday, January 11, 2021
                            1:00 PM ET / 12:00 PM CT
                            Register

                            With Congress passing another stimulus bill for 2021, the SBA clarified how lenders can participate in the next round of the Paycheck Protection Program (PPP) in the new year, gaining access to more than $300 billion that will be available for struggling businesses until March 31.
                            Register for this webinar to hear from experts at Abrigo and the Small Business Administration (SBA) District Office of North Carolina on how PPP will evolve.

                            Join to learn:
                            • Quick overview of the Paycheck Protection Program
                            • How lenders can be ready to support their business communities
                            • What new qualifications will be in place for PPP in 2021 

                              CDD Checklist | Free Download

                              Customer Due Diligence (CDD) is commonly known as the fifth pillar of Bank Secrecy Act (BSA) compliance. Your CDD program should be risk-focused, and periodic risk enhanced due diligence (EDD) reviews should be conducted for higher risk customers and entities. CDD can seem overwhelming for institutions with a limited budget. However, regulatory guidance is improving and should be used to help evade CDD findings.

                              This whitepaper outlines four key strategies for financial institutions to leverage to enhance their CDD program prior to upcoming exams. 

                              Download this whitepaper to learn:
                              • How to assess higher-risk customers
                              • How to map and analyze processes to identify opportunities for efficiency gain 
                              • How to address gaps within the current processes and enhance procedures
                              Download the attached CDD/EDD checklist for additional guidance on a strong CDD program.

                                Free Webinar | Politically Exposed Persons and Your Institution | Earn 1 CAMS & CFCS credit and 1.25 CAFP & CRCM credits

                                Thursday, December 17, 2020
                                2:00 PM ET / 1:00 PM CT
                                Save your seat

                                2020 has brought many areas of BSA/AML into the spotlight and Politically Exposed Persons (PEPs) are no different. The recent FinCEN Files unearthed examples of corruption with PEPs occurring within the industry making many financial crime fighters ask how they should be handling these high-risk customers. In this session, our experts tackle the realities of banking PEPs, the risks involved, and the steps you can take to ensure your program is prepared.

                                Join this session to learn:
                                • What the latest regulations say about PEPs and the risks they pose
                                • Best practices for identifying and handling Politically Exposed Persons
                                • How to structure your compliance program to adequately screen PEPs
                                Earn 1 CAMS & CFCS credit and 1.25 CAFP & CRCM credits

                                Register here for free!