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Monthly Archives: February 2019

How Can Mortgage Lenders Retain Profit and Build Growth

Mortgage lenders can remain profitable and build a scalable foundation for future growth by achieving a few critical objectives, advises STRATMOR Group, a leading mortgage advisory firm. The goals, outlined in the firm’s February 2019 Insights Report, are optimizing the borrower experience, renegotiating long-term contracts and evaluating compensation plans.

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Consumers Prefer Single Mobile Banking/Payments App

Mobile banking apps have become one of the most popular self-service channels in banking, and usage figure from a recent survey revealed that approximately three out of five mobile device owners (59 percent) report using their banking app at least twice a week.

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Consumer Confidence Rebounds in February

The Conference Board Consumer Confidence Index increased in February, following a decline in January. The Index now stands at 131.4 (1985 = 100), up from 121.7 in January. The Present Situation Index — based on consumers’ assessment of current business and labor market conditions — improved, from 170.2 to 173.5. The Expectations Index — based on consumers’ short-term outlook for income, business and labor market conditions — increased from 89.4 last month to 103.4 this month.

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Abrigo Launches Annual CECL Readiness Survey

Abrigo, a provider of compliance, credit risk and lending solutions technologies for community financial institutions, has opened its annual survey to track the market’s progress, preparation and expected impact of the Financial Accounting Standards Board’s new current expected credit loss standard. The new accounting standard, which the financial services industry has heralded as “the biggest accounting change in banking history,” will go into effect on Dec. 15, 2019, for SEC-filing financial institutions.

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Overwhelming Majority of Risk Professionals See Value in AI

Artificial intelligence is transforming all industries, including financial services. A survey from analytics provider SAS and the Global Association of Risk Professionals (GARP) showed that 81 percent of risk professionals in the financial services industry have already seen benefits from AI technologies.

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