Regulatory Compliance

In the fast-paced realm of finance, the significance of regulatory risk and compliance management practices cannot be overstated. This blog post delves into the pivotal role these practices play in ensuring the stability and success of financial institutions and banks. By adopting a proactive stance and leveraging technological advancements, financial entities can navigate the regulatory […]

In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 billion of the total cost incurred from the failures of Silicon Valley Bank (SVB) and Signature Bank was designated for safeguarding uninsured depositors. This financial strain emphasizes the critical need for effective regulatory oversight. Immediately following the Silicon Valley […]

There’s been a massive change of tone in the healthcare space over the last few years. What is it you might ask? Well, simple. Proactive healthcare choice. Let me explain. Traditionally, healthcare was reactive – when something went wrong, we would go to the doctor or seek medical treatment. Today, however, the tables have turned […]

Background On Friday, July 28, Heartland Tri-State Bank of Elkhart became the fourth U.S. bank to fail this year. A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. Heartland Tri-State began operations in […]

It’s not you. It’s the guidance. Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator. The same organization will typically have a national bank charter, and the OCC […]

The trust placed in financial services organizations by clients, investors, and stakeholders is not only a reflection of reliability but also a significant driver of business success. But, as one of the most regulated and notoriously untrusted industries, the financial services industry is among the most vulnerable to being impacted by negative digital media, driving […]

Promethium Ember Capital, (“PEC”), a wholly owned subsidiary of Promethium, has become the first digital asset custody provider to come under federal regulation. PEC was approved as a special purpose broker-dealer (“SPBD”) for digital asset securities. The approval allows Promethium to custody digital asset securities on behalf of both retail and institutional clients. The significance […]

In our first blog in this series, Getting Started With Client Remediation (Part 1 of 3), we discussed how to get a client remediation program started, what levels of an organization should be involved in the client remediation program, and how ultimately positive outcomes, such as lower risks, improved technology, and risk monitoring, may result from […]

Recent headlines have highlighted the failure of SVB Financial Group, the parent company of Silicon Valley Bank (“SVB”). To help both current and future clients, using publicly available financial records of SVB, including the last two annual reports and every 10-Ks and 10-Q filed this decade, a team of Perficient team members from around the […]

Your firm has, whether it was an individual or collective organization, violated the first component of the Hippocratic Oath – “first, do no harm” (or “primum non nocere,” the original Latin translation from the Greeks) while interacting with a client. Some combination of your conscience and your lawyers make you want to “make things right,” […]

Across industries, consumers are communicating the same demands; they see the thing, they want the thing, and they want it in their hands within hours, if possible. And if it’s not possible, they wonder why not since it usually is through Amazon. Because money is what makes the world go-’round, the payments industry has responded […]

2023 has commenced, and rates are climbing, inflation is bubbling, and banking customers are continuing to demand hyper-personalized products and experiences from their institutions. Here are five banking trends we’re forecasting for the new year. 1. Banks are focused on efficiency initiatives to optimize their operations and lower costs. Three prominent areas where there is […]