PYMNTS

OCTOBER 12, 2020

CEO Aditya Mishra said the company has seen around 2,000 customer sign-ups in the last week or so as almost 30 percent of BitMEX's trading volume has been withdrawn by customers since U.S. He said Qume’s goal, since forming early in 2019, was to build a regulatory-friendly, more decentralized experience for things like custody.

Bitcoin 104

Bitcoin Money Laundering Compliance Non-Bank 104

PYMNTS

JULY 24, 2020

Reuters reports retail sales returned to near pre-COVID-19 lockdown levels last month when so-called non-essential stores in England reopened. In June, sales volumes increased by 14 percent from May, surpassing forecasts in a Reuters poll of economists. Overall sales volumes rose to within 0.6 percent of February’s level.

Volume 75

Volume Returns Non-Bank Consulting 75

FICO

MARCH 25, 2020

Home Credit , a global non-bank consumer lender, has successfully reduced its credit risk while maintaining loan volumes and keeping approval rates steady by incorporating the FICO® Score X Data to optimize its loan process in China. This type of financial inclusion is good for the consumer and good for our business.

Risk 97

Risk Financial Inclusion Point-of-Sale (POS) Risk Assessment 97

PYMNTS

JANUARY 30, 2020

Visa ’s fiscal first-quarter results showed an acceleration of cross-border volumes, while contactless payments continued to gain ground in the U.S. The company said that payments volume was up 8 percent year over year to $2.3 The company said that payments volume was up 8 percent year over year to $2.3 and beyond.

Contactless Payments 91

Contactless Payments Transactions Cross-Border Volume 91

Fintech News

JUNE 10, 2024

Established in 2019, Credflow provides tools for micro, small and medium-sized enterprises (MSMEs) to analyze business data and automate payment reminders. Transak allows users to purchase crypto using various payment methods such as credit cards or bank transfers, and raised US$20 million in a Series A funding round in May 2023.

FinTech 125

FinTech Non-Bank Finance AI 125

PYMNTS

APRIL 15, 2020

Echoing some activity at another big bank that reported Tuesday — JPMorgan — Wells said that payments were being deferred across auto loans and mortgages. Overall non-performing assets were up 13 percent from the fourth quarter of 2019, tied to the pandemic, and stood at $6.4 Overall credit card loans were down by $2.4

Point-of-Sale (POS) 60

Point-of-Sale (POS) Debit Card Online and Mobile Banking Credit Cards 60

PYMNTS

DECEMBER 4, 2020

Our [gross order volume] in 2019 represented less than 3 percent of this off-premise spend, highlighting the large addressable opportunity ahead of us in the food vertical alone,” DoorDash wrote in its S-1 filing in November. Door Dash noted in a separate recent filing that it’s currently capturing just a tiny piece of the total U.S.

Underwriting 60

Underwriting Real Time Payments Non-Bank Volume 60

PYMNTS

NOVEMBER 30, 2020

Our [gross order volume] in 2019 represented less than 3 percent of this off-premise spend, highlighting the large addressable opportunity ahead of us in the food vertical alone,” DoorDash wrote in its recent S-1 filing. billion during 2020’s first nine months — more than double the $885 million recorded in the same 2019 period.

On-Demand 72

On-Demand Real Time Payments Non-Bank NOV 72

PYMNTS

DECEMBER 16, 2019

central bank to consider modeling FedNow after the Unified Payments Interface (UPI) framework used in India, The Economic Times (ET) reported on Sunday (Dec. NPCI, the payment regulator governed by the Reserve Bank of India (RBI), launched real-time payments in 2016. billion in 2019. First, UPI is an interbank transfer system.

FedNow 57

FedNow Real Time Gross Settlement (RTGS) Federal Reserve Payment APIs and Integration 57

PYMNTS

MARCH 14, 2019

As noted by OracleTimes , it seems the messaging network that ties banks and other financial firms together may indeed be open to DLT — if not directly, then deployed by some of its network. SWIFT is not planning to use blockchain directly in efforts to settle transactions done between banks. One caveat?

SWIFT 74

SWIFT Blockchain Distributed Ledger Technology (DLT) RFP 74

PYMNTS

NOVEMBER 27, 2018

They’re also taking their toll on the non-bank mortgage lenders that proliferated in the good old days of zero or near-zero interest rates, compliments of the Federal Reserve. The Incredible Shrinking Non-Bank Mortgage Lending Market. Instead, they often rely on short-term bank loans – now also at a more expensive rate.

Non-Bank 46

Non-Bank Underwriting Federal Reserve Origination 46

PYMNTS

JUNE 3, 2020

The role of application programming interfaces (APIs) in banking and B2B payments has grown progressively larger over recent years, especially overseas. The United Kingdom has more than 200 providers developing APIs , for example, and these developers made 200 million requests for bank data via APIs just in January.

Real Time Payments 75

Real Time Payments API B2B MFA 75

FICO

OCTOBER 12, 2020

This has yielded a rise in medical equipment fraud and put banks’ fraud detection systems into overdrive. While the volume of medical equipment purchases increased by 15% from March to May 2020, medical equipment fraud rose threefold. . Figure 3: Monthly card-present authorization volume dropped by about 20% in summer 2020.

Volume 52

Volume Fraud Detection FBI Correspondent 52

PYMNTS

JANUARY 7, 2019

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. But they have not provided lenders and banks with specific guidance on using the data in underwriting.

FinTech 60

FinTech Blockchain Underwriting Non-Bank 60

FICO

MARCH 2, 2020

For its achievements, Swisscard won a 2019 FICO® Decisions Award for Debt Management. We were concerned about the continuation of current high recovery results and higher collection account volumes as well as maintaining the high levels of service for which we are known, so we turned to FICO to help fine-tune our approach.”.

Risk 52

Risk Non-Bank Blocks Credit Cards 52

FICO

FEBRUARY 17, 2020

It is interesting that all but one of the top South African banks have dropped in their rankings against the top 500 banks globally. But even here it is not the case that spend has been through even use of facilities across the banks. Whilst some banks saw 100% increase in spend on Black Friday, others saw a reduction YoY.

Non-Bank 52

Non-Bank Consumer Mitigation Continuity 52

PYMNTS

APRIL 30, 2018

Lakala is China’s only non-bank institution, which Circle International said offers online, offline, personal and corporate services and had a trading volume of 1 trillion renminbi. Additionally, Circle International said Lakala is one of China’s top three companies in the offline settlement market.

Cross-Border Payments 46

Cross-Border Payments Cross-Border Payment Gateways Online and Mobile Banking 46

PYMNTS

JUNE 3, 2020

per gallon — more than a dollar short of the average price during the same period in 2019. The volume of grocery purchases made over PULSE’s debit network was 25 percent higher than usual during March 17 to March 24, for example. percent higher than PSCU had seen during the same period in 2019. percent year-over-year drop.

Consumer 55

Consumer Debit Card Credit Cards Credit Union Service Organization 55

PYMNTS

MARCH 18, 2019

Then came PayPal’s debut of Instant Transfer to Bank. This new feature, available to PayPal customers in good standing, leverages the company’s partnership with Chase, and Chase’s connection to The Clearing House’s RTP network, to move money instantly into the bank accounts of consumers and SMBs. as of January 2019.

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

PYMNTS

MAY 14, 2020

“It all starts with accepting that the world as we knew it in 2019 is no more,” he said in a recent discussion. Enabling finserv and non-finserv companies to white label a remittance technology means “you’re giving them a platform that allows them to move money digitally and build payments,” said Nanu. .”

Payment APIs and Integration 69

Payment APIs and Integration Adjustments Facilitators Service Provider 69

CB Insights

DECEMBER 4, 2019

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. In aggregate, these product development and investment decisions reveal that Amazon isn’t building a traditional bank that serves everyone.

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

The Fintech Times

MAY 22, 2024

However, in its latest report published today, the UK banking and financial services trade association announced that there was a four per cent decrease in the amount stolen to £1.17billion in 2023. One reason more users have been able to be reimbursed is due to the Contingent Reimbursement Model (CRM) Code launched in 2019.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

PYMNTS

DECEMBER 31, 2020

Key Data Points: Consumers are performing 12 percent more activities at home in 2020 than they did in 2019 and making purchases during 12 percent of those activities, on average. 31 percent bank via app. Accelerating The Real-Time Payments Demand Curve: What Banks Need To Know About What Consumers Want And Need.

Innovation 111

Innovation Online and Mobile Banking Real Time Payments Cross-Border 111

FICO

NOVEMBER 2, 2022

Tue, 07/02/2019 - 02:45. By not being beholden to one sole data provider, telecoms can seamlessly switch, adapt and pivot towards a far greater cross-section of customer insights that reflect emerging market trends and preferences, new and younger demographics, ‘non-traditional’ borrowers, or those with modest credit histories.

Automation 52

Automation Risk Volume Finance 52

FICO

JULY 30, 2019

Data sharing for these purposes should be non-competitive: fraud is everybody’s problem, but still relies on a common definition of what data to share, where to securely host the data, how regularly it should be updated and what mechanisms are available to access the consortium data.

Account Takeovers 52

Account Takeovers Fraud Prevention Credit Risk Non-Bank 52

FICO

FEBRUARY 10, 2017

For all the differences between traditional banks and new online lenders, there is one business challenge that unites both groups: acquiring new customers. While online lenders experiment with offline marketing tactics, banks are aggressively ramping up their online marketing efforts, with total digital ad spend by U.S.

Online and Mobile Banking 45

Online and Mobile Banking Non-Bank Card Issuer Identity Theft 45

FICO

JANUARY 19, 2023

The unprecedented level of financial support during the past two years has created an expectation among consumers and businesses that banks and other institutions will continue to provide help, support and forbearance, as and when they are adversely impacted financially. The challenge will be further exacerbated as an estimated 1.4

Risk 52

Risk Non-Bank Credit Risk Continuity 52

FICO

FEBRUARY 9, 2017

For all the differences between traditional banks and new online lenders, there is one business challenge that unites both groups: acquiring new customers. While online lenders experiment with offline marketing tactics, banks are aggressively ramping up their online marketing efforts, with total digital ad spend by U.S.

Online and Mobile Banking 40

Online and Mobile Banking Non-Bank Card Issuer Identity Theft 40

FICO

FEBRUARY 23, 2016

All lenders will require a sound HMDA implementation plan, most especially the 75–400 non-bank institutions that the CFPB estimates will be covered under the rule for the first time. The bulk of the revised rule will become effective January 1, 2018, with reporting commencing on March 1, 2019.

Consumer Financial Protection Bureau (CFPB) 58

Consumer Financial Protection Bureau (CFPB) CFPB Rules Compliance 58

Fintech Labs Insights

OCTOBER 26, 2020

Revolut demo (13 min) by CMO Chad West (March 2019). As a digital banking product manager, then analyst, I spent 20 years trying to convince banks they should charge a monthly fee for premium digital services. During that time, approximately zero took me up on that seemingly money-making concept. mo or $16.99/mo

ATM 15

ATM Non-Bank Volume FinTech 15

Nanonets

FEBRUARY 1, 2024

Reconciliation: Labor-intensive process of matching bank transactions with ledger entries. Automatic reconciliation transforms this often arduous task, matching bank transactions with ledger entries in a fraction of the time it used to take. Quick integration with existing systems, maintained by non-technical staff.

Automation 64

Automation Accounts Process Multi-Currency 64

PYMNTS

JULY 1, 2016

Soon after Lending Club revealed its ex-CEO may have artificially inflated the company’s lending volumes, the U.S. Commercial Banking. D3 Banking. Investors on Monday (June 27) provided $10 million to D3 Banking for it to further its research and development operations, reports said.

Online and Mobile Banking 40

Online and Mobile Banking Small Business Non-Bank Finance 40

CB Insights

OCTOBER 26, 2020

In 2006, investment banks were at the top of the finance world. After the collapse of Lehman and Bear Stearns and the global financial crisis that ensued, the business models of the world’s biggest investment banks needed to change. As a result, banks are facing dropping IPO profits. Some banks have collapsed.

Underwriting 78

Underwriting Research Online and Mobile Banking Non-Bank 78

FICO

SEPTEMBER 29, 2022

Tue, 07/02/2019 - 05:23. It also helps telecom operators stay on the right side of data regulations, asset security and steer clear of the risk of data breaches by only retaining a minimal volume of customer information. Tim has over 15 years' experience spanning banking, finance, retail and marketing analytics. FICO Admin.

Risk 52

Risk Risk Management CRM Data Breach 52

PYMNTS

MARCH 30, 2020

For most SMBs , 2019 was a banner year, and 2020 was expected to be nothing less than spectacular. Two-thirds (66 percent) of SMBs expected to see their revenues grow beyond — even well beyond — what they had booked in 2019. SMBs can apply through their banks for SBA assistance, which offers a loan of 2.5

On-Demand 92

On-Demand Credit Cards Returns Shutdown 92

FICO

JANUARY 10, 2019

Bruce Curry wrote about the impact that regulators’ focus on non-performing loans (NPL) is having in multiple areas, including debt collection agencies. This is driven to a large degree by regulatory pressures on banks to reduce their NPL, and also by a new force: IFRS 9. That’s a cliff-edge banks are naturally keen to avoid.

Posting 40

Posting Issuers AI Non-Bank 40

Fintech Labs Insights

OCTOBER 26, 2020

Revolut demo (13 min) by CMO Chad West (March 2019). As a digital banking product manager, then analyst, I spent 20 years trying to convince banks they should charge a monthly fee for premium digital services. During that time, approximately zero took me up on that seemingly money-making concept. mo or $16.99/mo

ATM 15

ATM Non-Bank Volume FinTech 15