Risk and Compliance Roundup
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Accelerate profitability, innovation and productivity by predicting risks and streamlining compliance
?? In the News
Risk and Compliance Stories We're Following
CFPB Urges States to Reconsider Exemptions for Financial Data in Privacy Laws
Source:?ABA
Several states have recently passed data privacy laws with exclusions for data collected by banks and other financial institutions, and that may not be in the best interests of consumers.
Academy Bank Survey Reveals Insights into Gen Z Financial Habits, Credit Knowledge, and Challenges
Source:?PR Web
Gen Z prioritizes savings, building credit and making more money, but could benefit from a greater understanding of how to do all those things. That's according to new research from Academy Bank, a family-owned community bank in Arizona, Colorado, Kansas and Missouri.?
DFCU Financial Announces Intent to Acquire Winter Park National Bank, Expanding Florida Footprint
Source:?Globe Newswire
This acquisition marks DFCU Financial’s third transaction within the state of Florida, furthering its commitment to providing comprehensive financial services and superior member experiences across the region.
US Fed Concerned About Rise in Office Loan Delinquency
Source:?Barron's
Delinquencies on US commercial real estate loans hit the highest level for a decade, the Federal Reserve said Friday, noting that offices were facing a particularly tough time.
???FinTech Updates
Latest Financial Technology (FinTech) Trends
What Regulatory Challenges Do FinTechs Face with New Tech?
Source:?Block Telegraph
In the rapidly evolving world of FinTech, staying ahead of regulatory challenges is paramount. Managing directors and CEOs bring their expertise to the forefront in this discussion. Discover the key regulatory hurdles and how to navigate them effectively.
Preparing for the Future of Payments Compliance
Source:?FinTech Finance News
In today’s high-volume payments environment, many legacy stacks just won’t cut it. And with rising regulatory demands, particularly in the UK and Canada, and predicted shifts in the US, the imperative to prepare has never been greater. Watch the video to find out more.?
Chatting Things Through: The Current State of Chatbots in Mobile Banking
Source:?The Financial Brand
There are many compelling benefits to AI chatbot integration — but banks have work to do to articulate them to skeptical customers.
???Executive Moves
Key Risk and Compliance Hires
AIG Promotes Christopher Schaper to Chief Risk Officer
Source:?Insurance Business Mag
American International Group (AIG) has announced the appointment of Christopher Schaper as chief risk officer, effective immediately.
Truist Financial Taps Brad Bender as Chief Risk Officer
Source:?Market Watch
Truist Financial named Brad Bender as its chief risk officer, succeeding Clarke Starnes in the role.
MVB Financial appoints new Chief Risk Officer
Source:?Investing
MVB Financial Corp, announced the appointment of Joe Rodriguez as the new Chief Risk Officer.
???What's Trending
Best of Social Media
How Banks Can Measure and Support Customer Financial Health Outcomes
Source:?OCC (Twitter)
This report identifies a way to consider consumer financial health, proposes and encourages use of financial health measures, and provides examples of financial health measure use cases and actions that may contribute to improved customer financial health.
FDIC Survey Finds 96 Percent of U.S. Households Were Banked in 2023
Source:?FDIC (Twitter)
Nearly 96 percent of all U.S. households were banked in 2023, according to just-released national survey by the Federal Deposit Insurance Corporation (FDIC).?
Third-Party Risk Management: Best Practices for CCEOs
Source:?Gartner (LinkedIn)
Unlock effective governance, third-party risk management, and data sharing and monitoring for better business outcomes.
Unlocking the Power of AI in Financial Services for Growth and Transformation
Source:?360factors (LinkedIn)
Discover the power of Generative AI! From automating routine tasks to enhancing client interactions and modernizing legacy systems, AI streamlines operations, boosts productivity, and enables holistic risk management. Read our blog to discover more.
If you would like to submit an article or tip for the risk and compliance community, you can email?[email protected] ?with your article for consideration.?
SourceForge Podcast
Introducing Lumify360: SourceForge Podcast #11 with Carl McCauley, CEO of 360factors
Watch SourceForge’s podcast, where 360factors CEO Carl McCauley introduces Lumify360, an innovative AI-powered platform that enriches KPIs and KRIs for mid-market organizations.
Complimentary Webinar
How Generative AI Can Be Used in Banking Risk and Compliance
The webinar touches on areas where Generative AI can be used within banks and discusses areas that may be more problematic in using Generative AI currently due to regulatory concerns or modeling requirements.