Model Risk Governance – It’s not just for the big banks!

When the OCC put forth the supervisory guidance on model risk governance the big focus in the industry was around the larger financial institutions that had created their own risk models.  The overall intent to make sure that the larger financial institutions were properly managing the risk they...read more

What your lenders want in a lending process – but may not say to you.

A recent industry survey was published that called out the number one reason that lenders were dissatisfied or willing to go to another financial institution (and take their book of business with them) was not compensation.  While, compensation is often thought of as the number one driver for this...read more

Optimization Use of Multiple Collection Agencies

I have heard from a few creditors that when it comes to allocating accounts to collection agencies for recoveries creating a rule based strategy isn’t always in the cards. When clients use multiple collection agencies their ability to allocate accounts to the different agencies based on rule based...read more

Omnichannel approach is resulting in new challenges for risk management

During a recent webinar I hosted on balancing customer experience and fraud prevention, we had the opportunity to hear from an expert panel including Michelle Brisby, the senior fraud manager for Sephora Direct. Michelle shared with us how Sephora balances fraud protection with the user experience....read more

How to overcome the loss of control for recovering debt

One of the challenges that we hear from many of our clients is managing multiple collection agencies in order to recover bad debts. Collection managers who use multiple collection agencies recognize the potential upside to utilizing multiple agencies.  Assigning allocate accounts to different...read more

Data breaches, compromised passwords, and hacked credentials

More than ever before, there may now be credence in the view that the majority of consumers’ personally identifiable information (PII), user names and passwords, and even some authentication tokens have been, or are, at risk of compromise.  Between sophisticated hacking schemes and regularly...read more

How can banks offer such low rates?

by John P. Robertson, Senior Business Process Specialist As a Senior Business Process Specialist for the Experian Decision Analytics, John provides guidance to clients in the areas of profitability strategies for risk based pricing and relationship profitability. He assists banks in developing and...read more

The cost of financial regulation…and now what?

The Wall Street Journal just recently posted an article that mentioned the cost of the financial regulations for some of the largest banks.  Within the article it is staggering to see the cost of the financial crisis and also to see how so much of this could have been minimized by sound banking...read more

Protecting yourself from fraudulent account takeovers

Your password is weak, whether you use 40 random characters or your dog’s name. With so many large data breaches leading to hundreds of millions of compromised credentials and payment cards in the past two years, it's no surprise that e-commerce account takeover attempts have grown dramatically in...read more

How mobile is transforming the banking industry and the fraud concerns with it, a Q&A with Mike Gross

Mike Gross is the director of risk strategy and professional services at 41st Parameter and has more than 10 years of experience in financial services fraud prevention and risk management. At 41st Parameter, Mike is responsible for identifying banking, ecommerce, and travel industry trends,...read more