ABA Risk and Compliance
 
 
 
 
March 29, 2024
AI Compliance and Regulation: What Financial Institutions Need to Know
Alkami Technology®
While generative AI (GenAI) stands poised to improve everything from risk management to profit margins, the banking world has been understandably hesitant to adopt the technology in light of ongoing regulatory changes.
 
Financial institutions can benefit from incremental AI implementation especially when it comes to upgrading the customer experience through solutions including ChatGPT-like offerings. Read this article to better understand AI compliance and the regulatory landscape of today.
Read now
Advertisement
 
Features
For boards, knowing the right questions to ask about instant payments
Discussing how change affects a bank’s risk profile often falls to the risk committee. And in our 24/7 world, payment innovation is one of the most rapidly evolving areas of change.
360factors, Inc
LemonadeLXP
Boring is better when conducting risk assessments
Risk assessments can swallow up many hours of bank executives’ precious time. But if they result in flashing red lights about unexpected risks, then banks have probably done something wrong throughout the year.
Ncontracts Launches Nstitute: An Online Training Program to Earn Nstitute Certified Vendor Management Professional (NCVMP) Certification
Ncontracts®
Ncontracts, launched an online training program “Nstitute Certified Vendor Management Professional (NCVMP)" certification based on the new interagency guidance on 3rd party risk management. Nstitute is a self-paced, training program that covers essential areas of third-party risk management to empower vendor managers and professionals tasked with overseeing third-party vendors, consultants, fintechs, and others. Ncontracts is currently offering an exclusive 30% discount. 
Learn More
Advertisement
 
Risk and Compliance News
FDIC proposes to expand criteria for bank merger evaluations
The FDIC board today voted 3-2 to pursue potential changes to how the agency will evaluate bank merger applications, including broadening the number of competitive factors it will take into consideration when deciding whether to approve or deny applications, and requiring a "thorough accounting" of the potential effects on communities, including possible branch closures or relocations.
Agencies extend applicability date of certain Community Reinvestment Act rule provisions
The Federal Reserve, FDIC and Office of the Comptroller of the Currency this week jointly issued an interim final rule that extends the applicability date of certain provisions in the Community Reinvestment Act rule that was issued in October 2023.
K2 Integrity
Protecht Group
Evaluating FedNow: Banks are still warming up to instant payments
Despite clear value in receive-only FedNow transactions, many banks are wary of the send side. To fully embrace FedNow, they will need a clear sign that the benefits outweigh the risks.
Unveiling the Future: The Data Breach Industry Forecast is Here!
Experian Partner Solutions®
Get ready to unlock exclusive insights into the ever-evolving world of cybersecurity! Our 11th annual "Experian 2024 Data Breach Industry Forecast" is here, offering a tantalizing glimpse into the future. With six pivotal predictions that will reshape the cybersecurity landscape, this report is a must-read for data breach professionals, cyber experts, and industry leaders.
Download Now!
Advertisement