In remarks at an industry event today, Federal Reserve Vice Chairman for Supervision Randal Quarles discussed possible ways to improve the supervisory ratings system that regulators use to assess banks’ strength in various risk areas to make them “more consistent and more predictable.”
In response to feedback from banks and fintech providers, the Federal Reserve, working with other financial regulatory agencies, is developing a fintech vendor due diligence guide for community banks, that would provide specific information about the documents and information they need to successfully complete their due diligence obligations, Federal Reserve Governor Michelle Bowman said in a speech today.
The siloed and slow, often manual, processes of the past are giving way to new efficiencies of automation and cloud-based solutions.
Emerging technology will enable banks to test complicated transactions and locate problems in areas that are time-consuming to monitor manually.
A small shift in how you think about your vendors can make a big difference.
The products and services community banks are most likely to launch in the next 12 months.
Former Comptroller of the Currency Eugene Ludwig talks about the current state of artificial intelligence in banking and the outlook for community banks and compliance professionals.
Elementary principles to keep in mind when choosing a regulatory change management regtech solution.
Banks that decide to implement AI or machine learning capabilities must consider not just how to approach the system upgrade itself, but also how to communicate the new controls to regulators.