eNews Archive

The adoption of new technology is no longer a choice but a necessity for staying competitive in business. Despite the undeniable benefits these advancements bring, getting customers comfortable with change remains a significant challenge. Why it matters: The key to shifting customers’ mindset to embrace change lies in trust and clear communication when undergoing any user-faced automation transformations. Several financial institutions, both large and small, have undergone digital transformations in recent years, notably incorporating AI to simplify everyday functions. This widespread…

In an industry where decisions can have significant financial implications, mere competence is often not enough to inspire confidence. Credit managers must strive to cultivate a unique brand of “credit”-ability—a combination of expertise, integrity and professionalism that sets them apart as trusted partners in risk management.

It’s a new month and the good news is that Congress finally passed a government funding bill that lasts through September; unfortunately, it’s only half of the government.

The short answer is yes, the credit community can still find value in financial statements. But we may need to reconsider the way in which we think about financials.

One-on-one meetings offer a special forum for detailed discussions and personalized support. However, few organizations offer comprehensive guidance or training for managers to hold these individual employee meetings.

Credit applications serve as the initial safeguard against risk. Risk reduction begins immediately upon receipt of a customer’s credit application, either digitally or on paper. But the role of credit applications in the customer onboarding process has evolved over time. Previously, credit applications served to establish a binding contract, but now, alternative methods may be used for this purpose.

The short answer is yes, the credit community can still find value in financial statements. But we may need to reconsider the way in which we think about financials.

Rising labor costs, new environmental regulations and a mixed outlook on construction volume present significant challenges to the industry. However, declining fuel costs and controlled inflation offer some relief.