Data, data, data. You have it, but now what? Financial institutions are being bombarded with the need for data in order to be in compliance once the Allowance for Loan and Lease Losses (ALLL) regulatory changes using the Current Expected Credit Loss (CECL) model comes into effect.
Small business lending has traditionally been ignored by many larger financial institutions. So the Small Business Lending Index by Biz2Credit showed an interesting picture. www.biz2credit.com
This week I had the opportunity to attend the Credit Union REACH 2016 in Las Vegas. While there, I had the chance to listen to Mike Walsh, the CEO of the innovation lab, Tomorrow. Mike’s thoughts were not directly pointed at risk management and lending, but as he spoke I wanted to share a few notes that I hope will help you and your organization. So here we go: