Financial Services

millennials

Are You Already Planning to Reforecast Your Loan Loss Projections for 2022?

Everywhere you look and read, we are reminded of the key drivers behind the rising debt and delinquencies Americans face, as well as indications there’s much more to come: Inflation increased at the fastest rate in 40 years over the last twelve months, exceeding expectations, the Labor Department announced on January 12, 2022. Used vehicles, which have […]

NFTs

Listen To Mark Cuban Break Down NFTs and How the Dallas Mavericks Use Them To Create Fan Value

I was super excited when I first heard that Perficient’s Jim Hertzfeld and Kim Williams-Czopek were interviewing Mark Cuban, the owner of the Dallas Mavericks, Shark Tank host and investor, and entrepreneur, on their What If So What? podcast. Not entirely surprising, but Cuban said more people probably know him as the “Shark Tank guy” […]

Bitcoin Concept With Binary Codes

How Are Leading Financial Institutions Navigating the Cryptocurrency Market? 4 Highlights From 2021

Cryptocurrencies, such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Polkadot, and many more, are taking the investment world by storm. According to CoinGecko, the cryptocurrency market is worth more than $2.35 trillion (as of 01/03/22), and financial institutions, if they haven’t already, are wondering whether they should take a piece of the pie. Although this market […]

SMS-Amazon-Connect

Bank of America Is Going Head-to-Head With Venmo, Kind Of…

Bank of America is ready to compete with Venmo by introducing a Zelle widget. The Zelle widget can be added to the home screen of a mobile device, similar to a weather widget, so that bank customers can send money. While the widget eliminates the need to open BofA’s mobile banking app, users must have […]

OCC Sets 2022 Assessment Schedule

So, you’re the CEO of a national banking corporation or a national savings bank. Therefore, your primary federal bank regulator is the Office of the Controller of the Currency (OCC). The OCC conducts frequent on-site examinations as they investigate, prepare, and then issue its reports of examination. Not only do you and your staff get […]

Occ Cryptocurrency

OCC Provides Roadmap for National Banks and Savings Associations To Conduct Crypto Activities

The Office of the Comptroller of the Currency (“OCC”) issued a letter (1179) that national banks and federal savings associations must demonstrate that they have adequate controls in place before they can engage in cryptocurrency, distributed ledger, and stablecoin activities. The OCC had issued multiple Interpretive Letters in 2020 and earlier this year related to […]

Cryptocurrency Assets

Highlights From Federal Bank Regulators’ Joint Statement on Cryptocurrency Assets

Recognizing that regulated and non-regulated financial institutions seek to engage in cryptocurrency and crypto asset activities, the three largest federal bank regulators, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, recently issued a joint statement on crypto assets. The regulators broadly defined crypto assets as any […]

Las Cruces 1987

Industry Slant // Bo Berg Talks Giant Schnauzers, DJing, Financial Services

Bo Berg is a director in Perficient’s financial services practice. He has more than 20 years of experience leading digital transformation initiatives for financial institutions. Bo Berg joins Eugene Sefanov and Madeline McDermott for a Microsoft Teams chat  Denmark, Dogs, & DJing Madeline McDermott: First things first. Where were you born? Bo Berg: Copenhagen. Denmark, […]

Istock 540567310

5 Key Takeaways From Our “Optimization Strategies To Improve Collections” Webinar

Financial institutions must prioritize instilling empathy when interacting with their clients. It’s more critical now than ever because of the economic hardships many are facing due to COVID’s impact. In our latest webinar, “Optimization Strategies to Improve Collections,” Scott Albahary, Perficient’s financial services chief strategist, and Byron Gifford, Perficient’s collection transformations lead, shared tangible solutions […]

Istock 514469972

The CFPB Regulation F Requirements Take Effect in Less Than 60 Days – What’s Your Plan?

In less than 60 days, the CFPB Regulation F requirements take effect. In simple terms, it means collectors can: Make seven call attempts within a seven-day period Make one call within a week of speaking with the “right party.” Strategies must be altered, and creating sequencing that supports your delinquency goals and loss forecast can […]

Discussing New Strategies

Perficient Listed in Forrester Now Tech: Robotic Process Automation Services, Q4 2021

Robotic Process Automation (RPA) is the use of software to automate high volume and repetitive tasks that previously required a human to perform. RPA enables the configuration of a “bot” or “digital workers” to capture and interpret tasks on existing applications such as processing transactions, transforming or manipulating data, triggering responses, and integrating with other […]

Credit Providers Can Benefit From Newer Practices, Even in the Face of Uncertainty

“It takes time for loans to go bad and the full extent of problems to surface, so I’d predict this is likely to be a 2023 issue.” That’s what Michael Jamesson, a principal at the bank consulting firm Jamesson Associates, told American Banker when asked about the long-term impact Covid-19 economic relief might have on […]

Load More