The Top Priorities for Finance Leaders in 2023: Lead Through a Recession (APAC)

Financial institutions are subject to an overwhelming – and changing – myriad of federal laws that deal with real estate loan collections and servicing, including the Truth in Lending Act (Reg Z), the Real Estate Settlement Procedures Act (Reg X), the Fair Debt Collection Practices Act (and UDAAP), the Fair Credit Reporting Act (Reg V), and the Equal Credit Opportunity Act (Reg B). Within the last few years, there have been many important changes to these laws regarding restrictions on collection procedures, mortgage default notices, successors in interest, timing restrictions on mortgage foreclosures, and new bankruptcy protections.

First recognized as the basis of Bitcoin and other cryptocurrencies, blockchain may change the relationship among colleges and universities, providing a globally distributed network for securely sharing resources and records, including student transcripts, degree information and other data.How might blockchain innovations positively impact your institution? During the event, Nathan Phelps, Principal Architect for Product Development, explored how blockchain technology may reshape higher education, including. Academic credentials can be written to a blockchain so students can provide verification of their academic credentials at any time

Aside from the pressure of rapid adaptation and process transformation that financial services firms have managed over the last year, the increased sophistication and volume of fraud attacks have risen in equal measure. Fraudsters have raised their bar, utilizing the best in technology and strategy to automate some of their processes, resulting in continual and targeted attacking of the mobile channel, in response to the global digital shift. The scale of the attack is becoming larger as well, as the technology becomes cheaper.

Companies are under pressure to grow and at the same time they are expected to manage financial risk and the developing challenges of not doing business with “dubious organizations”.