FICO

JULY 10, 2017

FICO regularly tracks the national FICO Score distribution as an important gauge of US consumer credit behavior. When I last blogged about this topic based on data from April 2016, the key takeaway was “the beat goes on.” year-over-year decrease in the recent serious delinquency rate between April 2016 and 2017 (17.1%

Consumer 75

Consumer Continuity Credit Limit Underwriting 75

PYMNTS

MAY 30, 2018

The data indicates firms that applied were more successful in securing funds than they were in 2016 — with 46 percent of applicants getting an approval (as opposed to 40 percent at the same time at the end of 2016). While the lull is notable, there are signs credit is starting to flow more easily to SMBs.

Underwriting 46

Underwriting Small Business Federal Reserve Community Banks 46

Finovate

FEBRUARY 6, 2024

Alloy made its Finovate debut at our developers conference, FinDEVrSilicon Valley 2016. To this end, Alloy’s identity risk solution automates and manages onboarding, fraud monitoring, and credit underwriting processes, reducing the amount of paperwork.

Risk Management 59

Risk Management Risk Embedded Finance Compliance 59

Fintech Labs Insights

AUGUST 24, 2016

It’s 2016, and the red hot fintech sector has evolved immensely since Finovate first launched 10 years ago. With tech companies such as Uber and Venmo setting a higher bar for user experience, consumer expectations have also evolved. Underwriting has advanced thanks to the availability of big data. Collaboration.

FinTech 20

FinTech Venmo Authentication Underwriting 20

PYMNTS

NOVEMBER 3, 2019

The Apple Card is Goldman Sachs ‘ latest inroad into the retail consumer business after establishing its online Marcus brand in 2016, which makes unsecured personal loans. Goldman Sachs’ consumer push was initiated by former CEO Lloyd Blankfein, who was looking for ways to diversify the firm’s revenue base. . “In

Credit Cards 51

Credit Cards Push-to-Card Online and Mobile Banking Underwriting 51

PYMNTS

NOVEMBER 3, 2019

The Apple Card is Goldman Sachs ‘ latest inroad into the retail consumer business after establishing its online Marcus brand in 2016, which makes unsecured personal loans. Goldman Sachs’ consumer push was initiated by former CEO Lloyd Blankfein, who was looking for ways to diversify the firm’s revenue base. . “In

Credit Cards 51

Credit Cards Push-to-Card Online and Mobile Banking Underwriting 51

PYMNTS

OCTOBER 2, 2018

Avant is best known among its financial services peers as a FinTech firm, founded to throw automation and an artificial intelligence (AI)-enhanced underwriting process at the problem of creating accessible, affordable personal loans for consumers. Avant’s consumer-facing product is devised as a digital alternative to that market.

Underwriting 53

Underwriting Online and Mobile Banking Void Verification 53

PYMNTS

MARCH 11, 2020

Consumer advocates are pushing federal banking regulators to do something about rent-a-banks with notoriously sky-high loan rates that prey on people with bad credit, the Wall Street Journal (WSJ) reported on Wednesday (March 11). South Dakota passed a law in 2016, followed by Colorado in 2018. Utah has no caps on interest rates. “A

Regulations 58

Regulations Caps Laws Underwriting 58

PYMNTS

DECEMBER 8, 2019

The Apple Card is Goldman Sachs‘ latest inroad into the retail consumer business after establishing its online Marcus brand, which makes unsecured personal loans, in 2016. . “In From an operational and risk perspective, we’ve handled the inflows smoothly, and without comprising our credit underwriting standards.”.

Finance 55

Finance Credit Cards Underwriting Payment Amount 55

PYMNTS

APRIL 20, 2018

It used to be that when “Goldman Sachs” was mentioned, it was in the context of the storied Wall Street investment banking firm trading and underwriting securities, advising on mergers and acquisitions, taking companies public and brokering deals. The Big Bet on Consumer Services. Not so much anymore.

Consumer 40

Consumer Push-to-Card Cash Management Mobile Banking 40

PYMNTS

JUNE 9, 2020

We rely on artificial intelligence and our digital platform to collect data points that we evaluate in pricing and underwriting our insurance policies, managing claims and customer support, and improving business processes,” Lemonade said in its filing. . Securities and Exchange Commission (SEC) regulatory filing. “We population.

Underwriting 52

Underwriting Advisors Security Process 52

FICO

SEPTEMBER 13, 2016

When I last blogged about the national distribution of FICO® Scores a year ago , US consumer credit quality was continuing to climb upwards, though with some potential indications of change ahead. The number of consumers scoring in the super-prime range of 800 or above has continued to grow. as of April 2016. in October 2010.

Continuity 96

Continuity Consumer Underwriting Posting 96

FICO

FEBRUARY 22, 2017

With this concern in mind, FICO recently conducted a research study to examine the credit quality of US consumers with auto loans, as well as other significant credit trends in auto lending. Our findings tell an interesting tale: Banks have been mildly decreasing their car loan underwriting standards.

Underwriting 56

Underwriting Adjustments Origination Consumer 56

PYMNTS

FEBRUARY 28, 2020

If you drive less than 12,000 miles a year and qualify for standard underwriting rules, Metromile will calculate your premium based on miles driven, not preset premiums. It started business in 2016 as a broker and then bought an insurance company that effectively became Metromile. It has its own policies, sales staff and underwriters.

Underwriting 86

Underwriting Product Adjustments Risk 86

PYMNTS

MARCH 14, 2017

In general, large firms — with large amounts of consumer data to draw from — are the not government’s concern when it comes to expanding into lending. Securitization of small-loan assets hit Rmb82bn in 2016, up from Rmb13bn a year earlier, according to data from Wind Info.

Underwriting 46

Underwriting Risk Mitigation Financial Inclusion Government 46

FICO

FEBRUARY 25, 2019

Here are three key developments in credit scoring that we will be keeping an eye on in the new year: Consumer-Contributed Data Takes Center Stage. Momentum is high in the consumer-contributed data space: consumers are getting more comfortable with sharing their data , provided they are presented with clear benefits for doing so.

Credit Risk 63

Credit Risk Underwriting Origination Fed 63

PYMNTS

JUNE 10, 2020

CNBC added that the partnership represents the first time Amazon has allowed a third-party financial institution (FI) to make underwriting decisions for its hundreds of thousands of Amazon Marketplace sellers. consumer business, told the network. billion on Marcus since the unit’s 2016 launch.

Underwriting 60

Underwriting Push-to-Card Shutdown Enrollments 60

FICO

NOVEMBER 30, 2016

In many ways I think 2016 was the year that analytics hit the mainstream. At cocktail parties and in coffee shops, 2016 has been the year that we data scientists suddenly felt a bit like – dare I say it? analytics 2016” returned 52.3 rock stars. million hits. million hits.

AI 108

AI Compromise Risk Assessment Assessments 108

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The build-back from the revelations of 2016 was a bit more of a lengthy process.

P2P 54

P2P Origination Underwriting Returns 54

PYMNTS

JULY 25, 2018

financial services firm, on Wednesday (July 25) sold its entire stake in 321 Crédito, a Portuguese consumer finance lender, to Banco CTT, the bank run by Portugal’s privatized national postal service. car loan market due to fears that consumers have taken on more debt than they can handle. Cabot Square Capital, a U.K. trillion U.S.

FDIC 43

FDIC Underwriting Advisors Adjustments 43

PYMNTS

JULY 11, 2016

According to the company, competition in the consumer card space remains a challenge. Competition in the commercial services space is also less intense than that of the consumer card industry. The company is scheduled to hold its Q2 2016 earnings call on Wednesday, July 20.

Commercial Card 40

Commercial Card Underwriting Credit Cards Research 40

PYMNTS

APRIL 11, 2019

Lemonade , a licensed property and casualty insurance carrier, started out with homeowners and renters insurance in New York in late 2016 and is now popular across the U.S. Lemonade collects 100 times more data than traditional carriers which enables it to generate highly predictive data and improve underwriting, it sad in the press release.

Underwriting 43

Underwriting Participant AI Consumer 43

PYMNTS

NOVEMBER 15, 2016

Dry markets yield rough results – millennials aren’t buying homes at generationally expected rates and new start-up business are employing 1 million fewer people in 2016 than they they were in the year 2000. It’s a narrow needle to thread and one that is fundamentally important to threat correctly. Vantage Score 3.0 (the

Underwriting 65

Underwriting Risk Consumer Research 65

PYMNTS

JUNE 3, 2016

However, even if those consumers can’t seem to find their newly created wealth when they walk up to the checkout counter, Dumiao wants them to know it has them covered. Dumiao is claiming that the platform can enable prompt decisions on consumer loans without the need for time- and resource-intensive underwriting investigations.

Automation 40

Automation Underwriting Finance Consumer 40

PYMNTS

MAY 11, 2017

According to a report , under the deal, PayU gets a large minority stake in Kreditech and builds on a twelve-month pilot program in Poland in which more than €10 million in instant credit was issued to consumers at the point of sale. PayU is the ePayment subsidiary of media conglomerates Naspers.

Underwriting 40

Underwriting Processors PayPal AI 40

Fintech News

FEBRUARY 27, 2024

bolttech said that it will use the proceeds to further fuel its growth through investments in proprietary technology, digital capabilities for business partners and end consumers as well as talent across its 30-plus markets. In addition to that, the funds will also be used to explore opportunities to accelerate its international growth.

FinTech 104

FinTech Risk Compliance Multi-Currency 104

PYMNTS

OCTOBER 4, 2019

Once upon a time in the 1960s, banks were building a series of one-off card-based solutions , much the way today in the ending days of the 2010s we see global digital banking, mobile wallets and alternative underwriting schemes building one-off tech-based solutions for financial services products. Since 2016. Trackers and Reports .

Fraud Prevention 43

Fraud Prevention Online and Mobile Banking Instant Payments On-Demand 43

Fintech News

MARCH 18, 2024

Roojai Established in 2016, Roojai is an insurtech startup that builds online insurance products designed to be simple to understand, easy to use, affordable and with superior quality services. With the acquisitions, Roojai became a full digital insurance company with the license to underwrite general insurance products in Thailand.

FinTech 84

FinTech Online and Mobile Banking Blockchain Product 84

PYMNTS

AUGUST 8, 2018

LendingClub has been on the long road to recovery since May 2016, when an internal scandal led to the ouster of the firm’s founding CEO Renaud Laplanche and a mass exodus of lenders from the platform. And auto lending, he noted, is an excellent springboard to other services. And, he noted, the applications expand from there.

Origination 40

Origination Underwriting Push-to-Card Credit Cards 40

Fintech Labs Insights

SEPTEMBER 19, 2016

5 million to CUneXus to expand its consumer lending platform. Fintech deals by size from 6 Aug to 12 August 2016: Interactions. Consumer lending platform. Tags: Consumer, credit, loans, underwriting, mobile, account opening, Finovate alum. . $17 million to Upguard for its cybersecurity technology. Source: Finovate.

Underwriting 27

Underwriting FinTech P2P Advisors 27

PYMNTS

DECEMBER 17, 2018

Yet, analysts found only a slight change in alternative finance use between 2016 and 2017, and nearly half of SMBs have still never turned to AltFin for financing. “It can be a hugely time-consuming exercise researching all the traditional and alternative financing solutions on the market.”

Small Business 78

Small Business Finance Non-Bank Assessments 78

PYMNTS

DECEMBER 10, 2016

The consumer credit market has huge potential — trillions and trillions of dollars — and I wanted to ride that winner. But, of course, for those know how the story turned out at Lending Club in 2016, well, the exciting potential quote drew something of a chuckle. It looked from the outset like 2016 might be a rough year.

Non-Bank 73

Non-Bank Compliance Push-to-Card Origination 73

PYMNTS

JULY 14, 2017

Wells Fargo, trying to bounce back from a scandal involving falsified accounts, and any number of hits to its reputation since late 2016, posted results Friday that topped Wall Street expectations. The pressure in auto drove consumer loans down by $5.6 The stock fell, though, as the top line missed expectations, coming in at $22.1

Federal Reserve 43

Federal Reserve Underwriting Central Bank Credit Cards 43

CB Insights

DECEMBER 5, 2017

HCS went through a major management shakeup in November 2016 when former AIG head of commercial insurance strategy and innovation Greg Wolyniec joined as president and CEO, while AIG president of liability and financial lines Alexander Baugh was named chairman of HCS’s board of directors. American Family Ventures. Aviva Ventures.

Underwriting 28

Underwriting Cybersecurity Innovation Risk 28

PYMNTS

JULY 22, 2016

It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., Treasury Department will recommend that some loans offered through these platforms be reclassified as consumers loans. That, experts say, would be a massive headache for these players. ezyCollect.

Regulations 40

Regulations Underwriting Finance Risk Management 40

PYMNTS

FEBRUARY 16, 2018

Periu, who served as global co-head of Capital Markets at Funding Circle, launched NepFin in late 2016 alongside Co-Founder Thomas Meister, former senior counsel at Funding Circle too. This was born out of seeing what it takes to underwrite a small business and understanding the opportunity of additional information sources,” he said.

Underwriting 40

Underwriting Small Business Process Automation 40

PYMNTS

NOVEMBER 27, 2018

Climbing interest rates are taking their toll on the number of consumers in the market for new home mortgages. And it is a decline likely to be felt, as non-bank lenders now represent the majority of mortgage underwriting done in the U.S. Mortgage applications for new homes are down 25 percent year over year.

Non-Bank 46

Non-Bank Underwriting Federal Reserve Origination 46