Bank record retention requirements detail the mandatory minimum length that financial institutions must keep various documents.
The job description of a bank security officer could be broad—and has changed over time. Fifty years ago, a bank security officer’s main responsibilities centered on the physical safety of the financial institution’s employees, customers, and facilities.
Banking exams are conducted by both the Federal Deposit Insurance Corporation (FDIC) and state-level organizations to evaluate the practices of financial institutions.
Banks utilize a variety of management systems to ensure smooth operations and maintain compliance.
Barcode scanning is a method of using barcodes to identify what a document is and where it belongs in a file. When properly utilized, barcodes can streamline a bank’s document management workflow and reduce the likelihood of documents being inserted into the wrong file.
Some loan origination systems (LOS) make it possible to generate loan documents with embedded barcodes. Barcodes can contain a variety of information, such as account number and document type, which could be useful for expediting a financial institution’s loan document management workflow.
Batch scanning is the process of scanning more than one document in a single action. For example, a lender might use batch scanning to quickly digitize an entire loan file for a customer.
Bill pay refers to a service offered by banks, credit unions, and other financial institutions that allows account holders to pay their bills electronically through their institution’s website or mobile app.
Branch transformation generally refers to the goal of maximizing branch efficiency to deliver optimal experiences for customers or members
A BSA Compliance Officer coordinates and monitors adherence to Bank Secrecy Act regulatory requirements, which are focused on detecting and halting money laundering.
Business banking within a digital banking platform refers to financial services specifically tailored for small businesses, delivered through digital channels such as online and mobile apps.
Buy now, pay later (BNPL) is a financial service that allows consumers to make purchases and defer payment over time, typically in installments.