NIST CSF 2.0: What Financial Services Institutions Need to Know| Ep002 Banking on the Cloud Podcast

NIST 2.0, one of the hottest topics in financial services cloud computing. Our guest Joe Daw, IBM Security Architect, sits down with host Anne Leslie, Cloud Risk and Control Leader-Europe at IBM Cloud Financial Services to update you on these important changes. 

Key topics you will learn about in this video:   

- NIST CSF 2.0 Updates 
- Why You Need a Zero-Trust Mindset 
- The Power of Frameworks 
- Importance of the Govern Pillar  
- How to Start a Security Management Program 
- How to Leverage Cloud Security Alliance CCF with NIST CSF 2.0   

YouTube Link: https://ibm.biz/Bdmf4e

• Join IBM Financial Services Cloud Council and Forum Community: https://ibm.co/44peeQE  

Today’s Cyber Warfare: Elevate Your Defenses
Jack Henry is hosting live Cybersecurity forums in Bloomington, MN and Hershey, PA in May and June! The events focus on training community banks to be resilient and ready to respond to cyberattacks. In addition to facilitating a ransomware attack simulation based on current threats, we will be conducting sessions on other timely topics.

• Bloomington, MN: Tuesday, May 21, 10 a.m. - 4 p.m. CT
• Hershey, PA: Thursday, June 6, 10 a.m. - 4 p.m. CT

Please note that for a limited time we are offering a BOGO promotion for registrations!

See the full agenda and register here.

6 Takeaways From Consumer Reports' Car Loan Investigation

Driven by convenience and low advertised rates, consumers are likely to choose to finance their vehicles through indirect lending at the dealership. However, there are potential pitfalls that consumers should be aware of including inflated interest rates, unfavorable loan terms, predatory lending practices, and hidden fees—just to name a few. 

With auto loan debt in the United States surpassing $1.4 trillion, it's crucial to understand the risks associated with borrowing for a vehicle. According to Consumer Reports' analysis of nearly 858,000 auto loans, borrowers are often paying more than they should, with interest rates varying widely even among consumers with similar credit scores. This points to the likelihood of personal judgment and bias informing interest rates rather than objective underwriting. This inconsistency in lending practices raises concerns about the lack of fairness and transparency in auto lending.

Another striking revelation from Consumer Reports' investigation is that even consumers with excellent credit scores may find themselves saddled with inflated interest rates, suggesting that dealers and lenders might be charging what they think they can get away with rather than solely considering risk. Additionally, many borrowers are burdened with loans they can't afford, with nearly 25% spending more than 10% of their income on car debt, increasing the risk of default and repossession. It's clear that these practices impact consumers negatively but they also cause knock-on effects on the capital markets and highlight the need to be vigilant when navigating the auto lending landscape. 

To learn more about the findings from Consumer Reports' investigation, read the full article here: https://www.consumerreports.org/money/car-financing/takeaways-from-consumer-reports-car-loan-investigation-a7711549994/

DCG’s 40th Annual Balance Sheet & Model Risk Management Conference - June 10-11, 2024 in Boston, MA

• Check out our detailed schedule that delves into our industry’s most pressing challenges and opportunities.
• Celebrating its 40th year, the DCG Balance Sheet & Model Risk Management Conference features 44 sessions devoted to Balance Sheet and Model Risk Management, 40+ dynamic speakers, and peer discussions. Attendees are also eligible to earn up to 15 CPE credits.

Register Now to secure your spot!

Webinar: Delivering a customer experience that thrives under pressure

How can your institution deliver exceptional customer experience? You need to enable yourself to support them whenever and wherever they need it, even in times under pressure - like a massive online banking conversion!

Loan Data Coffee Talk

Friday, May 3rd at 10:00am – 10:45am ET

Register HERE.

Join us as we dive deeper into how clients are using IntelliCredit to respond to questions from regulators, their Board and management. With easy access to their loan data (something that is virtually impossible with their core system), we'll share how they are gaining a better understanding of the subsets and concentrations in their portfolios, and arming their team to proactively explain and defend their bank's position.

A Great Opportunity to be Recognized for Your Innovation 

Jack Henry recently introduced a new annual recognition program that celebrates innovative financial institutions and fintechs. The Cobalt Awards Program is unlike any other in the industry. Learn about the submission categories and how you can win $10,000 towards the charity of your choice (and more). Submissions are open until June 1st.